Algorae Engages HL Pharma to Warehouse Compounds for Research Programs & Development of its AlgoraeOS AI Platform

The importation and storage of refrigerated Schedule 8 products is required for subsequent distribution to research partners as needed.

The initial order consists of a selection of lesser-explored alternative cannabinoids (excluding CBD or THC) designated for research across various medical indications, either independently or in conjunction with other pharmaceutical compounds. The additional cannabinoids will be integrated into existing programs being undertaken by Algorae’s research partners.

Algorae has partnered with La Trobe University (‘La Trobe’) and Monash University (‘Monash’) to undertake an extensive range of pre-clinical studies to further assess the Company’s cannabinoid-based combination drug candidates, known as AI-116 and AI-168. These candidates target dementia and cardiovascular disease respectively and are being compared to existing commercial therapeutics to establish a preliminary basis for economic potential. Results from these studies will be released to ASX progressively over the course of 2024 as the programs progress.

Conveying a sense of pride in this collaboration, Matt Hayward, Managing Director of HL Pharma, stated, "HL Pharma is privileged to have been chosen as the strategic partner for Algorae, making substantial contributions to these critical programs."

The under-studied alternative cannabinoids will also be used to enhance the predictive capabilities of Algorae’s artificial intelligence (‘AI’) platform. Named AlgoraeOS, the AI platform, will have predictive capabilities over all pharmaceutical drugs and therapeutic molecules of interest, however, it will be differentiated from other AI powered pharmaceutical platforms by encompassing specialisation in cannabinoid and cannabinoid combination drug targets.