Canadian biopharma company Algernon Pharmaceuticals Inc. (OTCQB:AGNPF)'s subsidiary Algernon NeuroScience (AGN Neuro) completed dosing the second cohort of its Phase 1 study on the company's proprietary IV formulation of DMT, AP-188. It is now moving forward with the final cohort at an escalated dose after no safety or tolerability issues were found.

The trial, conducted at the Centre for Human Drug Research (CHDR) in the Netherlands, aims to identify the safety, tolerability and pharmacokinetics of the hallucinogenic tryptamine drug administered as an IV bolus followed by a prolonged infusion of 6 hours.

After establishing the correct dose and optimum exposure period in the first part of the study, the second part will include dosing subjects for six hours with repeated dosing over a two-week period.

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Phase 2 study design is also underway. Led by Algernon's stroke and traumatic brain injury (TBI) experts, the next-stage trial would assess DMT therapy's effects on patients with serious brain injuries.

Algernon has filed patents for novel salt forms of DMT (pamoate and nicotinate) as well as claims on formulation, dosage and usage methods for ischemic stroke and the combination therapy of DMT and stroke rehabilitation, including Constraint Induced Movement Therapy.

The company is supplying Yale University with its psychedelic compound for an investigator-initiated clinical trial assessing multiple IV doses of DMT for the treatment of depression.

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