Mr. Robert Steen reports

PHARMADRUG APPOINTS CURRENT BOARD MEMBER DR. DAVID KIDECKEL AS CHAIRMAN

Pharmadrug Inc. has appointed Dr. David Kideckel, current board member, chairman of the board of Pharmadrug, replacing Robert Steen, who will remain as chief executive officer of the company.

Mr. Steen, CEO of Pharmadrug, commented, "We believe it is the right time to have David step into the chairman role, with his pedigree in the pharmaceutical industry, given the potential for Sairiyo to move into a clinical trial in Australia while SecureDose plans to move into the manufacturing phase of its drug development in the short term."

As founder of the Kideckel Advisory Group Inc., Dr. Kideckel provides fractional chief financial officer and CBO (chief business officer) services to both public (Toronto Stock Exchange, Nasdaq) and private corporations. Dr. Kideckel combines nearly 20 years of industry, advisory and capital markets experience, most recently serving as managing director, head of life sciences and senior institutional equity research analyst at ATB Capital Markets. Dr. Kideckel's industry experience spans several senior health care and biotechnology executive roles, including at Johnson & Johnson Inc. and Alexion Pharmaceuticals (acquired by AstraZeneca PLC). Dr. Kideckel holds a doctorate in neuroscience and statistics from the University of Toronto's Institute of Medical Science, and an MBA from the University of Toronto's Rotman School of Management.

Dr. Kideckel, chairman of Pharmadrug, commented: "I believe the coming year will be transformational for Pharmadrug. As a proponent of biosynthesis and its applications through pharmaceutical manufacturing, I am excited about the work being done by SecureDose. At the same time, what initially attracted me to the company, cepharanthine and, specifically, PD-001's potential to become a multitherapeutic agent ranging from oncology to infectious diseases, is proceeding according to plan."

Sairiyo update

Sairiyo Therapeutics Inc., a company that is 51 per cent owned by Pharmadrug and 49 per cent owned by PharmaTher Holdings Ltd., has initiated its regulatory and clinical development plan to evaluate Sairiyo's patented reformulated enteric coated version of orally bioavailable cepharanthine (PD-001) as a potential treatment for oncology and infectious diseases in a phase 1 clinical study in Australia.

In pursuit of its clinical strategy for PD-001, Sairiyo is establishing a wholly owned subsidiary in Australia to conduct the proposed phase 1 study and capitalize on drug development incentives in Australia. Sairiyo could earn a 43.5-per-cent rebate from the Australian federal government's research and development tax incentive program.

SecureDose update

SecureDose has finalized its formulation and has been focusing on fine tuning the process. The next phase will come with the manufacturing of a test batch. Management's priority will be to continue SecureDose's strategy to develop synthetic formulations for the potential third wave of drug policy reform. The company already has biosynthetic formulations, but will continue to fine tune them for scalable and economic production in pharmaceutical-grade facilities. The company plans to be able to announce the drugs it is focusing on in the next few weeks and also anticipates being able to commission its first test batch in the next couple of months.

About Pharmadrug Inc.

Pharmadrug is a specialty pharmaceutical company focused on the research, development and commercialization of controlled substances and natural medicines such as psychedelics and previously approved drugs. Pharmadrug owns 51 per cent of Sairiyo Therapeutics, a biotechnology company that specializes in researching and reformulating established natural medicines with a goal of bringing them through clinical trials and the associated regulatory approval process in the United States and Europe. Sairiyo is currently developing its patented reformulation of cepharanthine, a drug that has shown substantial third party validated potential for the treatment of infectious diseases and rare cancers. Pharmadrug also owns 100 per cent of SecureDose Synthetics Inc., a pharmaceutical research and development company focused on the development of synthetic formulations of currently existing drugs for potential commercialization and distribution.

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