Canurta Signs PHRX LOI, Expands Pipeline, and Advances AI Platform Development
- Canurta
- Aug 1
- 2 min read
PHRX LOI Signed: Strategic Path to the Public Markets
Canurta Therapeutics has signed a Letter of Intent (LOI) with PharmaDrug Inc. (CSE: PHRX.CN, OTC: LMLLF, FSE: G11.F), outlining terms for the proposed acquisition of up to 40% of Canurta by PharmaDrug. The first tranche is anticipated to close by September 2025. As part of the agreement, Canurta CEO Akeem Gardner will be appointed to the PharmaDrug Board of Directors.
This strategic agreement serves as a core component of Canurta’s public market access strategy and follows our recent LOI with extractX Ltd. Both transactions are part of a broader plan to secure growth capital, unlock operational scale, and prepare for the launch of our clinical pipeline, including CNR-401 and the Satoshi Trials™. The final agreement remains subject to customary due diligence and regulatory approval.
The next Annual Meeting of Limited Partners is scheduled for August 19, 2025. An invitation will be shared with all partners shortly.
Next Sequence AI x Bio Accelerator: Polykye Platform Accepted into Cohort 2
Canurta Therapeutics has been selected to participate in Cohort 2 of the Next Sequence® AI x Bio Accelerator. The program supports pioneering TechBio companies working at the intersection of artificial intelligence and biotechnology.
Over the next six months, Canurta will advance key milestones on the Polykye™ Platform in preparation for its upcoming ALS clinical trials. Participation in this accelerator reinforces Canurta’s commitment to unlocking the therapeutic potential of rare polyphenols and bringing scalable innovation to the drug discovery landscape.
Pipeline Expansion: New Biosynthetic Candidates Identified
Two novel prenylated flavonoids with predicted anti-inflammatory activity have been discovered through ongoing R&D efforts. These compounds are compatible with the company’s proprietary biosynthesis platform, offering a scalable path to manufacture and formulation. This progress further reinforces the strength of Canurta’s drug discovery engine and expands the therapeutic potential of its polyphenol-based pipeline.
ResearchHub Submission: Transcriptomic Insights from ALS Zebrafish Model
A new research paper has been submitted to ResearchHub for peer review. The study explores the cellular and genetic mechanisms behind CNR-401's neuroprotective agent, demonstrating promising early-stage results in mitigating ALS-related neurodegeneration.
Peer reviewers will provide expert evaluation over the next two weeks as the paper undergoes the next phase of revision and publication.
Glioblastoma Preprint: Cannflavins A and B Demonstrate Activity Against GBM
A new preprint published on bioRxiv titled “Cannflavins A and B Inhibit Glioblastoma Cell Growth via Ferroptosis and Oxidative Stress Pathways. This study explores the potential of these rare flavonoids to modulate tumor-related signaling networks, offering promising leads for therapeutic innovation in aggressive brain cancers like glioblastoma.
The findings suggest that cannflavins may offer a novel mechanism for targeting glioblastoma by interfering with redox balance and promoting cancer cell death through ferroptosis—a pathway of growing interest in oncology drug discovery.
C2MP Update: Final Pitch Day Preparation Underway
Canurta continues to benefit from its participation in the Canada-Chicago Mentoring Program (C2MP), gaining insight into cross-border commercialization, capital access, and investor readiness. With Final Pitch Day scheduled for September 10, 2025, preparations are focused on aligning messaging with long-term objectives and showcasing the company’s development milestones to a global network of mentors and stakeholders.