Why Algernon believes it is the Janis Joplin of psychedelic medicine companies

The Canadian company Algernon (CSE:AGN; Frankfurt:AGW0; OTCQB:AGNPF) is the headline sponsor for the Wonderland psychedelic medicine conference held in Miami from November 3 to 5. Algernon CEO Chris Moreau expects the decision to prominently back the event will raise the company’s profile. “We view Algernon as a Janis Joplin voice singing to a junior high crowd right now,” Moreau said. “We’re sort of undiscovered, but the parents in the audience think the music is fantastic. People are looking at each other in amazement, but it’s in the school gym.”

The Vancouver–based company has three drugs in its pipeline — ifenprodil and repirinast for inflammatory disorders and the psychedelic compound DMT for ischemic stroke rehabilitation.

In late October, the company announced a research alliance with Yale University to explore using DMT in a Phase 2 depression study.

In a recent interview, Moreau shared details on its DM…

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5 headwinds and 5 tailwinds for psychedelic medicine

Psychedelics were featured at SXSW 2022. [Image courtesy of Wikimedia Commons]

Decades after compounds like LSD and psilocybin were made illegal , psychedelic medicine appears poised to go mainstream in the coming years, potentially treating conditions ranging from anxiety to PTSD.

In the interim, however, hurdles remain.

The American Psychiatry Association (APA) recently released a conservative position statement on psychedelics and empathogens such as MDMA. In essence, the organization concluded that psychedelic medicine remains at the clinical stage. At present, there is “inadequate scientific evidence for endorsing the use of psychedelics to treat any psychiatric disorder except within the context of approved investigational studies,” APA noted.

While the APA said it supports rigorous clinical research into the compounds, “clinical treatments should be determined by scientific…

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