Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGW:FSE) said it believes it has maximized its intellectual property for DMT by filing dosing, formulation, and method of use patent applications for stroke rehabilitation with the drug.
A preclinical animal study has shown that DMT — which produces effects similar to other psychedelics like LSD, ketamine, psilocybin, and psilocin — helps the brain form and reorganize the synaptic connections needed for healing after a stroke, Algernon said.
The company said DMT occurs naturally and has been used in religious ceremonies as a traditional spiritual medicine by indigenous people in the Amazon basin. It can also be synthesized in a laboratory.
Algernon specializes in finding new applications for already approved drugs or naturally occurring compounds. It specifically looks at compounds that have not been approved in the United States or Europe to avoid off-label prescription writing.
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