PharmaTher

What PharmaTher does

PharmaTher Holdings Ltd. is a Toronto-based specialty pharmaceutical and drug-delivery technology company (OTCQB: PHRRF; CSE: PHRM) founded in 2020 by Fabio Chianelli. The company operates a platform-plus-products model centered on three integrated technology layers: PharmaPatch, a proprietary GelMA-based microneedle patch delivery system for transdermal administration of psychedelics, peptides, and other molecules; PatchPrint/MEDBOTX, automated tabletop and robotic 3D printing platforms for personalized medicine manufacturing; and KetAImine, an AI-driven platform for identifying new ketamine indications and combination therapies, supported by the KetaVault proprietary data portal. The product portfolio also includes KETARx, an FDA-approved ketamine ANDA (ANDA #217858) for surgical pain management secured in August 2025, and a 49% economic interest in Sairiyo Therapeutics, which is developing PD-001, an enteric-coated oral cepharanthine formulation (US Patent US10576077, expiry March 2036).

Revenue mechanics are diversified across five streams: one-time ANDA sales (US$25M+ ketamine ANDA transaction closed December 2025), licensing and royalty payments from strategic partnerships (Oakwood Laboratories for long-acting injectable ketamine; Revive Therapeutics for psilocybin/AI), platform technology licensing of PatchPrint and MEDBOTX to pharmaceutical and medical device manufacturers, contract formulation services, and hardware sales from system placements. Target customer segments include pharmaceutical companies, research institutions, hospitals and healthcare providers, government/defense health programs, and compounding pharmacies. The company has five FDA Orphan Drug Designations (ALS, Rett Syndrome, Complex Regional Pain Syndrome, Status Epilepticus, and ischemia/reperfusion injury) and operates with a lean team of 1-10 employees. Leadership comprises CEO Fabio Chianelli, CFO Carmelo Marrelli, and Director Dr. Beverly Incledon (formerly EVP R&D at Ironshore Pharmaceuticals, acquired by Collegium for $525M in 2024).

Name

PharmaTher

Legal name

PharmaTher Holdings Ltd.

Website

https://pharmather.com

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

PharmaTher is a Toronto-based specialty pharmaceutical and drug-delivery technology company developing microneedle patch (PharmaPatch) and robotic 3D printing platforms (PatchPrint/MEDBOTX) for personalized delivery of ketamine, psychedelics, peptides, and GLP-1 therapies, serving pharmaceutical companies, hospitals, and research institutions.

Ownership category

akta.pro rank

Product category

Specialty Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Neurology & CNS Specialty Pharmaceuticals (HLAIACAC)

akta.pro secondary industries

Connected Therapeutics & Smart Drug Delivery Monitoring (HLACAFAL), Specialty Injectable & Infusion Therapies (Cross-therapeutic) (HLAIACAO), Small-Molecule Generics (Branded/Unbranded) (HLAIABAA)

Keywords

• Ketamine pharmaceuticals
• Microneedle patch delivery
• Personalized medicines manufacturing
• 3D printed pharmaceuticals
• Psychedelic therapeutics

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain

Revenue model

1. ANDA Sales: One-time sales revenue from approved Abbreviated New Drug Applications (ANDAs) for ketamine formulations including KETARX (ketamine hydrochloride) and KETARX XR (extended-release ketamine)
2. Partnership and Milestone Payments: Strategic partnerships including Oakwood Laboratories for long-acting injectable ketamine and collaborations with Revive Therapeutics generating milestone payments
3. Platform Technology Licensing: Revenue from licensing PatchPrint 3D printing technology and MEDBOTX platform to pharmaceutical and medical device manufacturers
4. Formulation Services: Contract formulation development services for pharmaceutical companies utilizing microneedle patch technology
5. System Placements: Revenue from placement of PatchPrint automated manufacturing systems to pharmaceutical partners

Go-to-market motion3 records

Distribution channels3 records

Marketing channels3 records

Core offering

PharmaTher develops and commercializes ketamine-based pharmaceutical products, proprietary microneedle patch drug delivery systems (PharmaPatch), and automated 3D printing platforms (PatchPrint, MEDBOTX) for personalized medicine manufacturing. The company also operates KetAImine, an AI-driven discovery platform for identifying new ketamine indications, and holds a 49% equity interest in Sairiyo Therapeutics, which develops an oral Cepharanthine formulation (PD-001).

Product overview

PharmaTher is a specialty pharmaceutical and technology company operating a platform-plus-products architecture centered on MEDBOTX™ (robotic 3D printing platform for personalized medicines) and PharmaPatch™ (microneedle patch delivery platform). The company has evolved from a microneedle patch developer into a broader solution provider, with PatchPrint™ serving as the automated manufacturing platform for microneedle patches. Supporting these core platforms are KetaVault™ (proprietary ketamine data portal), KetAImine™ (AI discovery platform), and product candidates including PD-001 (cephal anthine formulation) and KETARx™ (FDA-approved ketamine). The portfolio spans drug delivery technologies, AI-enabled drug discovery, and proprietary pharmaceutical products.

Differentiator

Problem solved

Functional benefit

Brands

• KETARx: FDA-approved ketamine product for surgical pain management applications
• PharmaPatch
• PatchPrint
• MEDBOTX
• KetaVault
• KetAImine

Products and services

• MEDBOTX A robotic 3D printing platform designed for personalized medicines, peptides, and advanced pharmaceutical dose formats. Positioned as the central technology for point-of-care and small-batch manufacturing, supporting polypills, tablets, oral films, gels, suppositories, chews, patches, and osmotic-pump formats.
• PatchPrint An automated tabletop microneedle patch 3D printer that integrates dispensing, vacuum loading, accelerated drying, automated demolding, and packaging in a single compact system. Designed to support microneedle patch manufacturing for compounding pharmacies, hospitals, and pharmaceutical partners.
• PharmaPatch A proprietary microneedle-enhanced delivery system designed to provide efficient, minimally invasive, and potentially painless drug delivery for psychedelics, peptides, GLP-1, and other medicines. Incorporates anti-tampering and anti-abuse features, supporting at-home self-administration.
• KetaVault

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• Oakwood LaboratoriescoreStrategic or Co-development PartnerLong-acting injectable ketamine program partnership for development of extended-release ketamine formulations using Oakwood Laboratories' delivery technology platform.
• Sairiyo Therapeutics Inc.coreStrategic or Co-development Partner49% owned subsidiary focused on cepharanthine development, a natural compound being developed for potential therapeutic applications. Holds PD-001 patent applications.
• Revive TherapeuticscoreStrategic or Co-development PartnerResearch collaboration for psilocybin therapeutic development and AI discovery platform utilizing KetAImine technology for psychedelic drug discovery.

Scale indicators3 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Revive Therapeutics: Psilocybin-focused specialty pharma founded by PharmaTher CEO Fabio Chianelli (2012–2019). Strongly comparable due to overlapping psychedelic therapeutic focus, shared founder DNA, and ongoing research collaboration via KetAImine.
• MindMed: Public psychedelic medicine biotech (MNMD) developing ketamine-based and psychedelic therapies for mental health. Closely comparable business model and therapeutic area focus to PharmaTher's ketamine franchise.
• PharmaDrug: Owns 51% of Sairiyo Therapeutics (PharmaTher holds 49%). Directly comparable given shared ownership of the PD-001 cepharanthine asset and overlapping specialty pharma/psychedelic positioning.
• Cybin: Clinical-stage psychedelic therapeutics company (CYBN) developing psilocybin-based and deuterated psychedelic candidates for mental health. Comparable psychedelic delivery and indication focus.

Emerging players

• atai Life Sciences: Public clinical-stage biopharma (ATAI) developing psychedelic and mental health therapies. Comparable in therapeutic focus but materially larger and broader platform.
• Compass Pathways: Public psychedelic therapy company (CMPS) focused on psilocybin for treatment-resistant depression. Comparable psychedelic therapeutic focus, though at later clinical stage.
• Zosano Pharma: Transdermal microneedle patch developer for therapeutic delivery. Comparable technology category to PharmaPatch and PatchPrint in intradermal/transdermal drug delivery.

Broad incumbents

• Hikma Pharmaceuticals: Large generic injectables manufacturer including ketamine hydrochloride injectable products. Comparable as a commercial reference point for KETARx and broader generic injectable/specialty pharma operations.
• Pfizer (Hospira): Through Hospira, Pfizer supplies generic injectable ketamine and other sterile injectables at scale. Represents the dominant incumbent PharmaTher's KETARx competes against in hospital channels.
• Kindeva Drug Delivery: Global CDMO specializing in transdermal and microneedle drug delivery systems. Comparable as an established microneedle delivery peer and potential partner/competitor for PatchPrint and MEDBOTX platforms.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pharmatherinc

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PharmaTher