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Entheon Biomedical Announces DMT Drug Supply Agreement with Psygen Labs
- Completion of Initial DMT Research Drug Batch and Exercise of Warrants
Vancouver Canada based Entheon Biomedical Corp. (CSE: ENBI) (FSE: 1XU1), a biotechnology company focused on developing psychedelic medicines to treat addiction, announced it has entered into a drug-supply agreement with Psygen Labs Inc. Under the terms of the Agreement, Psygen will supply Entheon with non-GMP and GMP (good manufacturing practice) quality N,N-dimethyltryptamine drug substances (“
DMT”) for upcoming formulation, preclinical, clinical, and post-approval commercialization phases under the European Medicines Agency (EMA) regulatory framework. On November 27, 2020, Psygen successfully completed the production of a non-GMP DMT research batch for delivery to the Company’s Contract Research Organization, CHDR’s partner pharmacy. The non-GMP DMT research batch will be shipped to CHDR upon receipt of Psygen’s export perm
It was a rough session for N.A. markets Wednesday, with the TSX off nearly 80 points as the materials and tech sector weighed on the index. In the U.S., markets retreated from record highs as negotiations stalled once again between lawmakers looking to pass another fiscal stimulus package.
U.S. markets retreated Thursday morning after fresh data showed new jobless claims jumped sharply last week to 853,000 substantially more than economists had forecast. The latest jobs data underscores the desperate need for more stimulus, but Republicans seem unwilling to sign off on a substantial spending bill. Also weighing on sentiment was the latest coronavirus data from the U.S., with the death toll climbing to a new single-day record of 3,100. By Thursday’s close, the numbers were mixed: the Dow was down 75 points, the Nasdaq was up 67, and the TSX added 33.
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