May 18, 2021
Vancouver, British Columbia–(Newsfile Corp. – May 18, 2021) – Entheon Biomedical Corp. (CSE: ENBI) (OTCQB: ENTBF) (FSE: 1XU1) (“Entheon” or the “Company“), a biotechnology company focused on developing psychedelic medicines to treat addiction, announced it has entered into a drug-supply agreement (the “Agreement“) with Laboratorium Ofichem BV (“Ofichem” or “Ofichem Group”). Under the terms of the Agreement, Ofichem will supply Entheon with GMP quality N,N-dimethyltryptamine drug substances (“DMT“) for upcoming formulation, preclinical, clinical, and post-approval commercialization phases under the European Medicines Agency regulatory framework.
The Agreement, entered into May 4, 2021, will see Ofichem provide GMP DMT product as well as the required analytical data package for use in the previously announced phase 1 human clinical trial to be conducted by the Centre for Human Drug Research. Ofichem will also provide any additional DMT product that is required for an anticipated stability study. The phase 1 trial, to be conducted in the Netherlands, is scheduled to begin in Q4 2021.
“This supply agreement with Ofichem will enable the delivery of GMP-grade DMT for use in our upcoming human clinical trials and is a critical element to the success of the study. Ofichem’s significant experience in organic synthesis, analytical chemistry and drug development make them an ideal European partner for this initiative,” said Timothy Ko, Chief Executive Officer of Entheon. “We look forward to updating shareholders further as we advance through the preparation steps leading to the commencement of the clinical trial.”
“Headquartered in Ter Apel, The Netherlands, the Ofichem Group is active in more than 60 countries and boasts a portfolio of 45 in-house made active pharmaceutical ingredients. We consider it important to continue to engage with new partners. We are therefore pleased to provide our knowledge and commitment to quality for Entheon Biomedical’s clinical efforts,” said Dr. Weite Oldenziel, CEO of Ofichem Group.
The Company also announces that it has entered into a consulting agreement with Grant Galloway and Christopher Biggin dba Canna Cap Fund (“Canna Cap”) pursuant to which Canna Cap will provide investor communications and public relations services with existing shareholders, brokers, dealers and other investment professionals as to the Company’s current and proposed activities. The agreement is for an initial three (3) month term. Canna Cap will be compensated a monthly fee of USD $25,000.00 during the initial term.