New Risk • Jun 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$492k free cash flow). Shares are highly illiquid. Negative equity (-CA$443k). Revenue is less than US$1m. Market cap is less than US$10m (CA$744.1k market cap, or US$541.9k). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Board Change • Mar 13
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Katie Shelton-Innes was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 11
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Katie Shelton-Innes was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 08
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Katie Shelton-Innes was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Oct 19
Albert Labs International Corp. Appoints Shabir Hasham to Its Board of Directors Albert Labs International Corp. announced the appointment of Dr. Shabir Hasham to its Board of Directors. With an impressive 20 years of distinguished industry experience, Dr. Hasham brings a wealth of expertise to guide Albert Labs in its mission to revolutionize mental health solutions. Dr. Hasham's exceptional career is marked by his proficiency in navigating regulatory bodies, including the FDA and MHRA, ensuring successful product launches and compliance. His regulatory acumen aligns seamlessly with Albert Labs' commitment to delivering innovative mental health solutions. As the former EU Medical Director for the Neuroscience Franchise at Novartis, Dr. Hasham played a pivotal role in advancing pharmaceutical solutions. His leadership is a testament to his deep understanding of the complexities involved in bringing transformative medicines to market. Dr. Shabir Hasham's arrival marks a reunion with former team members, including Chief Medical Officer Dr. Malcolm Barrett Johnson and Chief Operations Officer Santoke Naal. His past collaborations with these key individuals, particularly during their tenure at Novartis, underscore Dr. Hasham's exceptional ability to drive successful outcomes in a collaborative environment. In addition to his 20 years of experience, Dr. Shabir Hasham will be progressively taking on an increased leadership role within Albert Labs. His informal leadership style, combined with strategic planning and operational excellence, aligns seamlessly with the company's vision for transformative solutions in mental health pharmaceuticals. Dr. Hasham possesses a unique proficiency in dealing with biotechnology and healthcare investment funds. His strategic insights have effectively guided investments, contributing to the success of various projects. Dr. Hasham's ability to communicate complex ideas in the right manner has been instrumental in securing support from investment entities, and ensuring alignment with organizational goals. Albert Labs looks forward to leveraging Dr. Shabir Hasham's multifaceted expertise as the company continues its pursuit of excellence in mental health pharmaceuticals. Ankündigung • Sep 07
Albert Labs International Corp. Announces CEO Changes Albert Labs Management and Board of Director Announcement Effective immediately, Michael Raymont has resigned from his position of chief executive officer and director of Albert Labs International Corp., and Mike Thompson has resigned from the board of directors. The board of directors extends its sincerest gratitude to Mr. Raymont and Mr. Thompson for their contributions to the company. Chand Jagpal will be acting as the interim chief executive officer until a suitable candidate is found. Ankündigung • Sep 06
Albert Labs International Corp. Announces Resignation of Michael Raymont as Board of Directors Albert Labs Management and Board of Director Announcement Effective immediately, Michael Raymont has resigned from his position of chief executive officer and director of Albert Labs International Corp., and Mike Thompson has resigned from the board of directors. The board of directors extends its sincerest gratitude to Mr. Raymont and Mr. Thompson for their contributions to the company. Chand Jagpal will be acting as the interim chief executive officer until a suitable candidate is found. Board Change • Jul 11
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Katie Shelton-Innes was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 21
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Katie Shelton-Innes was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 23
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Katie Shelton-Innes was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Feb 14
Albert Labs International Corp. announced that it expects to receive CAD 0.3 million in funding Albert Labs International Corp. announced a non-brokered private placement of 6,250,000 units at an issue price d CAD 0.048 per unit for the gross proceeds of CAD 300,000 on February 13, 2023. Each Unit is comprised of one common share and one non-transferable Common Share purchase warrant and each full Warrant will be exercisable to acquire one common share of Albert Labs at an exercise price of CAD 0.07 for 24 months from the date of the closing of the transaction1825660439. The Company may decrease the size of the transaction. All securities issued in connection with the transaction will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The transaction is subject to regulatory approval in the United Kingdom and IND filing in the United States. Board Change • Feb 07
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Katie Shelton-Innes was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 23
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Katie Shelton-Innes was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Nov 25
Albert Labs International Corp. announced that it expects to receive CAD 3 million in funding Albert Labs International Corp. announced a non-brokered private placement of 37,500,000 units at a price of CAD 0.08 per unit for gross proceeds of up to CAD 3,000,000 on November 24, 2022. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of CAD 0.12 for a period of twelve months. In the event that the company's common shares have a closing price on the Canadian Securities Exchange of greater than15 cents per common share for a period of 10 consecutive trading days, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof and, in such case, the warrants will expire on the 30th day after the date on which such notice is given to the holder by the company. All securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
On the same date, the company received its first tranche. The tranche issued at a price of CAD 0.08. Ankündigung • Nov 18
Albert Labs Signs Letter of Intent (LOI) with Ingen CRO for First In-Human Clinical Studies Albert Labs International Corp. signs a Letter of Intent (LOI) with full-service Contract-Research Organisation (CRO), iNGEN, to carry out the Company's first in-human study of its primary drug target, KRN-101. This randomised, double-blind study will evaluate the safety and tolerability of KRN-101 in study participants and determine its full pharmacokinetic characterization. As a unique, natural medicine containing a range of bioactives, KRN-101 is required to have its own pharmacokinetic profile despite an extensive background of safety data to support psilocybin-based medicines. Profiling KRN-101 through this study will allow the Company to reap the long-term potential of having a differentiated product through extensive opportunities for intellectual property protection. This study will take place in Melbourne, Australia, and including the collection of all clinical outputs, will be carried out over 8 weeks with an expected completion in Third Quarter 2023. Upon completion, KRN-101 will be available for use in late-stage clinical trials, allowing the Company to proceed with its Real World Evidence trial in the United Kingdom, which will establish the efficacy of the treatment for cancer-related distress. This first in-human study also allows the Company to collect valuable data which will enable a future Investigational New Drug (IND) Application to be filed with the FDA, thus taking KRN-101 to the largest pharmaceutical market in the world. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Katie Shelton-Innes was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Oct 21
Albert Labs Files New International PCT Patent Application for Scalable API Manufacturing Albert Labs International Corp. has announced the filing of a New International PCT Patent Application (No. PCT/CA2022/051281) with the United States Patent and Trademark Office (USPTO) for its proprietary manufacturing process. This proprietary manufacturing methodology developed and validated in-house at Albert Labs' Vancouver facility facilitates the production and scaling of highly potent yields of its KRN-101 Active Pharmaceutical Ingredient. The bioreactor technology is efficient, economical, and sustainable, ensuring pharmaceutical quality and consistent production of its natural, tryptamine-based medicines The Company is utilising this proprietary manufacturing technology to produce its primary drug target, the psilocybin-based KRN-101, which will treat cancer patients suffering from mental distress. It will also support the company's growth plans as it pursues a clinical expansion strategy with various global regulatory authorities. Albert Labs is a pharmaceutical drug development company, focussed on gaining regulatory approval for active compounds in the treatment of mental health, and providing rapid access to effective prescription medicines for people suffering from mental health disorders. Its team of experts leverage advanced culture technology and natural extraction, coupled with a comprehensive regulatory approach, to accelerate the development of mental health drugs, for which the needs are both urgent and unmet. Albert Labs looks to develop solutions through an approved, fast track clinical pathway focusing on Real World Evidence (RWE). RWE studies are an increasingly recognised clinical route, heavily used in oncology and recently, in the successful development of COVID-19 vaccines. Through collaborations with research institutions, hospital centres and government agencies, Albert Labs uses existing clinical infrastructure to deliver and improve patient access to its treatment. Albert Labs' first drug target, KRN-101, is a potential solution for cancer-related anxiety, a market of over 15 million people with roughly 1 million new sufferers each year. From this initial focus, Albert Labs will address broader mental health concerns, reported to affect over a billion people worldwide. The company's goal is to deliver effective medicines to suffers with mental health concerns in the shortest possible time without compromising safety and/or quality, while also providing significant returns to shareholders. Board Change • Aug 12
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Katie Shelton-Innes was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Jul 12
Albert Labs International Corp. Announces the Appointment of Mike Thompson MBE and Katie Shelton-Innes to Its Board Albert Labs International Corp. announced the appointment of Mike Thompson MBE and Katie Shelton-Innes to its Board. Mike Thompson, MBE joins Albert Labs as a prominent figure in Healthcare and Pharmaceuticals, bringing twenty-five years of experience in the Life Sciences sector. Between 2016 and 2019, Mike served as CEO at The Association of the British Pharmaceutical Industry (ABPI) and previously held senior positions at GSK in Global, European Regional and UK levels of the company. In 2021 Mike was awarded an MBE for services to medicines supply and resilience in the Queen's Birthday Honours List. During his time as CEO at the ABPI, Mike was at the forefront of UK drug approval and pricing policy, working hand-in-hand with Government bodies on behalf of the pharmaceutical industry. Amongst a number of considerable achievements in this role, Mike oversaw the agreement for £60bn of expenditure on branded pharmaceuticals, working closely with 10 Downing Street, HM Treasury and the Department of Health and Social Care. Katie Shelton-Innes is well-known in the United Kingdom for her work advising and raising funds for growth companies. She has a wealth of experience working for full-service investment banks, focussing on small to mid-cap companies, and was Head of Corporate Brokering at Arbuthnot Banking Group and Northland Capital Partners. Katie brings an astute knowledge of financial markets and a broad range of subsequent experiences and relationships. She joins the Albert Labs Board at a fitting time with the company exploring a listing in the United Kingdom while simultaneously scaling its operational functions across the UK, Canada and Portugal. Her appointment will consolidate the company's presence in the UK financial markets and support the company with its strategy for generating value for investors. Ankündigung • May 13
Albert Labs International Corp.' Pre-Clinical Analytical and Toxicological Research Supports Company's Forthcoming Studies Albert Labs International Corp. released further details of their ongoing preclinical studies. These are currently being conducted at the University of Health Sciences, CESPU, Portugal. The partnership established between Albert Labs and CESPU, provides Albert Labs with preclinical drug assessment capabilities, both in vivo and in vitro. The current work programme provides essential data on Albert Labs' mycelium-based pharmaceutical products in support of clinical trials due to start later this year. The clinical programme will investigate the potential to treat cancer-related distress, an indication thought to affect approximately 15 million patients worldwide. These pre-clinical studies, led by distinguished toxicologist, Dr. Ricardo Jorge Dinis-Oliveira, help to clarify the toxicological, pharmacokinetic and pharmacodynamic properties of Albert Labs' proprietary mycelium derived Active Pharmaceutical Ingredients (API). All preclinical work is conducted under Good Laboratory Practice ("GLP") guidelines and, through the OECD's Mutual Acceptance of Data scheme, will be accepted by leading health regulators such as the FDA and EMA. This data is needed prior to the commencement of Albert Labs' Real World Evidence (RWE) clinical trial with its first product candidate, KRN-101. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Apr 27
Albert Labs International Corp. Announces Board Appointments Albert Labs International Corp. have strengthened their Scientific Advisory Board, with the addition of Professor Robert Britton, a Natural Product Chemist, and renowned toxicologist and pharmacologist, Dr. Dinis-Oliveira. Professor Robert Britton, BSc, PhD, of Simon Fraser University, is a well-published natural product chemist with globally recognized expertise in natural product drug discovery, medicinal chemistry, and cancer therapeutics. With a particular focus on oncology, Prof. Britton creates new tools for late-stage modification of drug leads, new processes for improving the manufacture of drugs, and new strategies for synthesizing structurally complex natural products. Prior to his academic career, Prof. Britton was a Senior Scientist in the Process Research Group at Merck. Dr. Ricardo Jorge Dinis-Oliveira, PhD, European PhD, DSc, is an expert Toxicologist and Pharmacologist. His scientific and academic focus is in the areas of toxicology and the pharmacology of psychoactive substances and medicines, focusing on their preclinical, and clinical development stages. He is a member of the editorial boards and ambassador to several international scientific journals. Ankündigung • Mar 31
Albert Labs International Corp. Files US Provisional Patent Application and Proves Out Consistent and Rapidly Scalable Production of Psilocybe and Other Mycelia Albert Labs International Corp. filed provisional patent application with the United States Patent and Trademark Office for a proprietary process. Albert Labs' culturing process can significantly increase the production volumes of psilocybin medicine. The Company sees the demand for naturally produced psilocybin continuing to increase as the unmet needs for mental health treatment hit crisis levels worldwide. The improved quality and consistency enabled by this patent-pending process are paramount to scaling the Eu-GMP production of psilocybin Active Pharmaceutical Ingredient. The new process and methodology optimized key parameters necessary for the efficient cultivation that results in an increased high-quality yield of Psilocybe mycelia. The same patent-pending process and methodology can also be applied to the optimized cultivation of other fungi species, opening up the untapped potential market of bio-active fungal compounds. This is not a synthetic or biosynthetic process and does not use or introduce harmful synthetic chemicals or genetically modified bacteria in the production of psilocybin. Batch to batch, Albert Labs' bioreactor design allows them to produce strong yields of consistent psilocybin API, which will continue to be assessed for clinical efficacy and safety through Albert Labs' upcoming real-world evidence trials. 