- Through an exclusive agreement, Emyria (EMD) secures the rights to a library of novel MDMA analogues from the University of Western Australia
- Matt Piggot will lead a program to examine and expand the unique library with the aim of developing therapies for neurological disorders
- Under the 12-month agreement, the company will initially fund a minimum of $491,000 to UWA and Dr Piggott
- Once the program is completed, Emyria will have an option to exclusively license the most promising compounds and their associated patent families
- Shares closed 5.71 per cent higher at 18.5 cents on August 5
Through an exclusive agreement, Emyria (EMD) has secured the rights to a library of novel MDMA analogues from the University of Western Australia.
EMD said the partnership would create a drug discovery pipeline of novel psychedelic therapies, with plans to examine and expand the unique library. This has been developed over the past ten years by Matt Piggott.
The analogues are said to be unique chemical entities that are structurally similar to methylenedioxymethamphetamine (MDMA), but are designed to engage different neurological targets to elicit potentially unique clinical and neuro-cognitive effects.
EMD said there has been considerable promise noted in recent phase three clinical trials assessing MDMA as a treatment for severe post-traumatic disorder when administered alongside structure psychotherapy.
The company is currently developing an open-label phase two clinical trial program to test the clinical effectiveness and scalability of MDMA-assisted psychotherapy as a treatment in Australia.
However, the drug is associated with a number of unwanted side effects which prompts interest in MDMA-like alternatives that can deliver the desired effects while reducing the incidence of adverse events.
Dr Matt Piggot will lead a program to screen and expand the library of analogues to identify families of patentable compounds which can be developed as psychedelic-assisted therapies and treatments for neurological disorders.
He has more than 23 years experience in sophisticated organic synthesis, medicinal chemistry, chemical biology and therapeutic drug development.
Commenting on the partnership, Dr Piggott said he was delighted to be working with Emyris to investigate the potential of the MDMA analogues.
“Emyria has the resources to accelerate the development of drug candidates and demonstrated capacity to register neurological treatments that improve patient wellbeing,” he said.
Under the 12-month agreement, the company will initially fund a minimum of $491,000 to UWA and Dr Piggott.
EMD said the funds would support further screening and analysis on the current series of more than 100 novel MDMA-analogues as well as further novel compound synthesis.
Emyria’s Managing Director Michael Winlo said the company was actively working to develop a safe and scalable delivery model for treatment of post traumatic stress disorder using MDMA-assisted psychotherapy.
“Emerging treatments like psychedelic-assisted therapy have great potential but require further investment and innovation into new drugs, digital technologies and care models in order to improve efficacy, safety and access for patients,” Dr Winlo said.
Alongside the program, EMD plans to direct a global commercial patent strategy to ensure relevant intellectual property is suitably protected.
Once the program is completed, Emyria will have an option to exclusively license the most promising compounds and their associated patent families.
Shares closed 5.71 per cent higher at 18.5 cents on August 5.