Toronto, Ontario--(Newsfile Corp. - May 1, 2024) - PharmaDrug Inc. (CSE: PHRX) (OTC Pink: LMLLF) ("PharmaDrug" or the "Company"), a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics and previously approved drugs, is pleased to announce that Sairiyo Therapeutics Inc. ("Sairiyo"), a company that is fifty-one percent (51%) owned by PharmaDrug and fourty-nine percent (49%) owned by PharmaTher Holdings Ltd. (CSE: PHRM) (OTCQB: PHRRF) ("PharmaTher"), has completed its clinical and regulatory package to evaluate Sairiyo's patented reformulated enteric coated version of orally bioavailable cepharanthine ("PD-001") as a potential treatment for infectious diseases and oncology in a Phase1 clinical study in Australia. Robert Steen, CEO and Chairman of PharmaDrug commented, "We are extremely excited to reach this milestone in the development of PD-001. With the application package now completed and the corporate subsidiary already set up in Australia, Sairiyo only needs to finalize its agreement with a research hospital in order to submit the application to the relevant regulatory bodies and ethics committees."Sairiyo's wholly-owned subsidiary in Australia, Sairiyo Therapeutics Australia Pty Ltd., will work with an Australian clinical research unit to submit the clinical and regulatory package to the Australian Human Research Ethics Committee for approval to conduct the human clinical study.