LongTermGevity receives Health Canada Dealer’s License
Leading innovation to address chronic pain with neuromedicine
GSD portfolio company LongTermGevity is pleased to announce that they have received a Dealer’s License from Health Canada that allows for the possession, production, packaging, sale, transport, R&D, laboratory analysis, Special Access Program (SAP) participation, and clinical trials on controlled substances including psilocybin, psilocin, 3,4-methylenedioxymethamphetamine (“MDMA”), N, N-dimethyltryptamine (“DMT”), among others.
“We are thrilled about receiving our Dealer’s Licence. Our deep expertise in organic synthesis, product development, and pre-clinical testing will give us an edge in the industry by enabling in-house development of novel psychedelic medicines, delivery systems, molecules, and formulations.” Says co-founder, CEO Sena Herath.
LongTermGevity has a laboratory in Toronto to support Phase I/IIa clinical trials in the U.S. and Canada using Q112 Electrogel on patients suffering from chronic lower back pain. Their lead product, Q112 Electrogel, which is the first product to stabilize psilocin (the active ingredient in psilocybin) for transdermal delivery, is a novel, non-invasive electrotherapeutic technology that targets a profound need highlighted by the World Health Organization and is poised to disrupt a $12b neuromodulation industry.
“Regulatory approval in the U.S. and Canada is the first step to #GoGlobal when it comes to pharmaceutical companies. We are so proud that LTG is tackling a problem specified as a global need by the WHO and we can’t wait to see back pain eradicated in the U.S., Canada, and far beyond.” — Derek Distenfield, COO, and Co-Founder of GSD Venture Studios
Q112 Electrogel uses a proven neuromodulation technique in combination with a proprietary stabilized psilocin gel that can be applied to the skin to directly target an injury site in the spinal cord to help reduce inflammation and promote nervous tissue repair.
“Securing a license of this magnitude for a novel drug with an unfortunate stigma is an extraordinary achievement. LTG’s perseverance through the regulatory minefield is the exact kind of drive we at GSD look for when scouting for portfolio companies and is a signal to investors and the market that this team has what it takes to achieve their goal of ending lower back pain and beyond” — Gary Fowler, CEO, President, and Co-founder of GSD Venture Studios.
The company is currently in the process of closing a $2m seed fundraising round, of which the majority is earmarked for clinical trials, data generation, Q112 Electrogel product development, and novel molecule development.
LongTermGevity Inc. (“LTG”) is a psychedelic neuromodulation therapeutics company developing novel medications for musculoskeletal disorders. LTG’s core technology includes a proprietary transdermal psilocin neuromodulation therapy to alleviate pain, promote nervous tissue repair and improve motor function performance. LTG is focused on researching and developing rehabilitative psychedelic pharmaceuticals to treat leading causes of disabilities including chronic pain, spinal cord injury and multiple sclerosis.
Originally published at https://www.gsdvs.com on April 25, 2022.
About GSD Venture Studios:
We travel the world investing in resilient teams bold enough to #GoGlobal.
For too long, self-motivated entrepreneurs have navigated the minefield of challenges to launching a global company with very little support. The last thing you should bet on in this situation is an unproven team that you don’t trust. GSD Venture Studios travels to every corner of the globe inviting resilient teams to establish partnerships that ensure organizations grow the right way, without games or gimmicks. You can learn more about GSD Ventures Studios here: https://www.gsdvs.com/post/interview-with-derek-everything-you-need-to-know-about-gsd
About Derek Distenfield:
Known for both bringing revolutionary new ideas to organizations that deliver explosive growth and for displaying a high tolerance for ambiguity and complexity. For over 15 years, Derek has blazed high impact careers in startups, corporations, governments, and nonprofit organizations that range from $0 to $2 billion.
He is the operational mastermind, COO and Co-founder behind the success of GSD Venture Studios. Derek brings a variety of resources together to deliver explosive growth for GSD’s portfolio companies. Additionally, he lectures on startup growth at leading universities and writes for Forbes.com. Analytic Insight Magazine honored Derek as a 40 under 40 Innovator for his work in redefining the future of tech through cutting edge innovation. Yahoo.com called Derek as one of 2020s most influential people.
Derek is a frequent keynote speaker, advisor, and mentor. Silicon Valley is home, and he travels the world frequently to work with GSD’s portfolio companies.
More information can be found at: https://www.gsdvs.com/post/meet-derek-distenfield