Entheon Biomedical (CSE: ENBI) (OTC: ENTBF) is a biotechnology company focused on research, development and commercialization of a portfolio of psychedelic therapeutic medicines derived from DMT. ENBI aims to assist in treating individuals who suffer from addiction and substance abuse disorders through the use of DMT therapy.
Although ENBI is fairly new to the market, as its shares began trading on November 12th, 2020, this hasn’t stopped Entheon Biomedical one bit! Shortly after its listing debut, ENBI announced that the company entered into a Clinical Study Agreement with the Centre for Human Drug Research, a Contract Research Organization based in the Netherlands. This agreement is for early phase human clinical trials with DMT. CEO of ENBI Mr. Timothy Ko stated “This is a significant milestone in our mission to develop therapeutic protocols to treat substance use disorders. We believe that the CHDR's renowned expertise in conducting early-stage clinicals trials and their use of innovative technology makes them an excellent CRO to partner with”. ENBI expects that it will begin clinical human trials in summer 2021.
Entheon Biomedical made its first strategic investment when the company invested in Wonder Scientific, a company comprised of University researchers whose aim is to unlock the potential of healing properties in new plant medicines and creating safe products for commercialization. The investment in Wonder Scientific will provide ENBI the ability to generate revenues from the company’s line bio-stimulants, genetics, and pharmaceutical products.
On December 09th 2020, ENBI announced that it has entered into a drug-supply agreement with Psygen Labs Inc., where Psygen will supply ENBI with GMP and Non-GMP DMT for preclinical, clinical and post-approval commercialization. All phases will be conducted to meet the regulatory framework of the European Medicines Agency (EMA). Psygen was successful in producing a batch of non-GMP DMT and shipment to CHDR once it receives its export permit from the Health Canada Office of Controlled Substances. The export permit will be applied for when the Centre for Human Drug Research receives its import permit. ENBI stated that CHDR expected to receive its import permit by the end of December, however we have not seen confirmation on CHDR’s import permit yet, and it leads us to believe that this may be a great upcoming catalyst for ENBI.
This agreement will provide ENBI access to the DMT drug material that will be crucial for preliminary formulation, stability, and testing before conducting its human clinical trials in the Netherlands. The CEO of ENBI Mr. Timothy Ko was quoted "We are excited that Psygen has completed its initial research batch of non-GMP DMT. The completion of this batch represents the crucial chemical validation and formulation steps that are a regulatory requirement prior to human administration”.
ENBI kicked off the new year with its second strategic investment, where ENBI invested USD $200,000 in a Series A Preferred Stock Financing for a 5% ownership in Heading Health, LLC. As stated under its investment terms, ENBI also has the option to increase their investment in Heading Health to 10%. Founded in Texas, Heading Health operates a psychiatric clinic platform for administering psychedelic-assisted therapy to those affected with mental health disorders.
Through this investment, ENBI will gain exposure to the ketamine-assisted therapy segment, revenue, and key data which ENBI intends to utilize for its own research. Mr. Timothy Ko, CEO of ENBI stated "Our investment in Heading Health provides exposure to revenue and learning opportunities from the existing ketamine clinic market. The Heading Health team has real world experience operating multisite clinic practices and we are excited by the long-term opportunities presented by such a partnership”.
Investors should also note that Canadian billionaire Eric Sprott owns 3.2 Million shares of ENBI and 1.1 Million share purchase warrants. We believe Eric Sprott will be holding his ENBI shares for the long haul and seeing his participation surely gives an investor great confidence.
We believe ENBI presents a great opportunity for investors who are looking for some exposure in the psychedelics industry, and as shown on the company’s investor presentation below, we can see that ENBI is gearing up for an exciting journey as it forges its own path in the DMT space in 2021!
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