Mira Pharmaceuticals enters research collaboration with Pharmaseed

Mira Pharmaceuticals provided a corporate and operational update. The company has partnered with Pharmaseed, a clinical research organization to research and evaluate Ketamir-2, a novel ketamine analog with improved gastrointestinal bioavailability under investigation to potentially be an orally delivered ultra-rapid antidepressant. Pharmaseed is Israel’s largest GLP-certified pre-clinical and early clinical CRO specializing in translational and regenerative studies. The Mira team will utilize Pharmaseed’s neurological disorder expertise to conduct pre-clinical research on Ketamir, focusing primarily on investigating its antidepressant properties. Additionally, Mira has initiated a Toxicology program for Ketamir in collaboration with Frontage Laboratories. The company anticipates positioning Ketamir for an initial Investigational New Drug application with the FDA by the end of 2024. Ketamir is a novel compound designed to address the challenges presented by major depressive disorder. Ketamir is also under investigation for treating Post Traumatic Stress Disorder. Ketamir aims to serve as an alternative to commonly prescribed drugs for PTSD. A valuation analysis conducted by IQVIA forecasts that by 2035, Ketamir could generate average annual sales of $3B, with estimates rising to up to $7.8B.