Martin Shkreli vs. Max Marchione: the great peptide debate

super complex tasks like visualizing difficult concepts, synthesizing data into a single view, or bringing creative projects to life. And without further ado, let's kick off. the peptide debate. Welcome to the stream, guys. How are you guys doing?

Hey, how's it going?

You guys,

thank you so much for taking the time. Uh, why don't you both start with an introduction on yourself and maybe your core thesis around peptides?

Martin, why don't you go first?

Oh, Max.

Okay, sure.

Let's start with Martin.

Yeah. So, I'm the farmer bro. Uh

I represent uh the interests and the um

of the pharmaceutical

I guess viewpoint of the pharmaceutical industry uh including but not limited to Fizer, Merc, Eli Lilly, etc. I'm sure those guys love that.

And uh

you're the face of pharma

whether they like it or not.

There you go. Um sort of a self-trained uh biioharmaceutical expert. I think I can speak at a pretty high level about every inch of the pharmaceutical industry. I've discovered brand new drugs. I've acquired drugs. I've commercialized drugs. I've just about anything you can do in the drug industry, I've done it. And so I'm very concerned about the peptide craze. I think it comes mostly out of psychological issues, uh, which we'll discuss. um the need for identity control uh distrust of uh institutions, all kinds of things like that are leading to what we're what we're seeing today.

Mhm. Great. And Max.

Hi, I'm Max. Um former peptide skeptic turned peptide believer. Um I I run a healthcare company called Superpower. And our thesis is that the health system today does a good job when you're sick. it doesn't do a fantastic job at preventing things and actually allowing people to be their best selves. Um, I say a former peptide skeptic because they they seem scary and I say a converted believer because I spoke to dozens of doctors and heard uh hundreds of clinical vignettes from people who had their lives changed. Now, I don't believe all peptides are safe. I do believe we need more research. Um but I think there are a subset of things that have improved people's lives. I also think as a modality um peptides are one that are more interesting than before now that injecting is normal, now that wellness and optimization is normal, not just treating disease and now that we have AI for things like computational discovery. So we're early. We need more research. But I think peptides are exciting.

Martin, I'll let you just respond. Seems like you have something on your mind. Uh I but it would be useful to at least define the the conversation a little bit more because when we say peptides we could mean ompic prescribed by a doctor for someone who has diabetes and is very overweight. It could also mean the Wolverine stack taken by a 15-year-old in a gym in Miami, right? And like there's a wide gap here. So let's maybe narrow it down a little bit to probably off label use. I don't know exactly where where the where things start to get fuzzy for you guys, but defining a little bit more of where the actual point of debate because I imagine that there's agreement with the extremes.

Yeah. I mean, isn't isn't there a problem when we have to redefine semantics that have been defined forever? You know, isn't this like somebody saying, you know, I'm using uh you know, GPT instead of using AI or something like that? Like there's a specific meaning like peptide has this very specific meaning and they're not new. They're they're 80 years old. People have been using peptides forever. And in fact in pharma you try to avoid peptides because of their their inherent weaknesses. You go for small molecules or really large molecules like antibodies. Peptides are sort of the worst of both worlds. Mhm.

Um, so the idea that we've taken this kind of like last place drug class and then turned that into like the the standard bearer for do-it-yourself medicine is is kind of humorous to anybody who actually understands pharma.

Except that the last uh the last uh drug class has the potentially most impactful drug of all time or set of drugs of all time, the GLP-1 receptor agonists. So I'm not saying we only have peptides in the toolkit. I'm saying the genies out of the bottle and we cannot ignore peptides as a tool in the toolkit. Small molecules just like I just framing framing it for people who don't kind of understand the difference between these things. Um small molecules are made synthetically. Uh peptides tend to be derived from what already is happening in the body, right? DNA is the building block of the body and encodes for RNA which produces proteins and peptides. So these peptides naturally occur. Now it can sometimes be hard to patent a naturally occurring thing. You can but it's a little bit harder. Small molecules on the other hand are things that humans design to block biology to block typically block something that is happening in the body. And again, I'm not saying small molecules are bad, but they're they're kind of the the two different modalities we're talking about here. And we've seen one category of peptides, GLP1s, already change the world, and my contention is that there are other categories of peptides that are under researched, but have really interesting kind of clinical vignettes that might change the world going forward. Mhm. Martin's large,

but but but the but the

but I think like why we're having this conversation is because people are just, you know, injecting a number of them into themselves now. And you're saying they might change the world, but people are going through the process of self experimentation. And there's a bunch of companies, private companies that are happily facilitating this and and profiting off of it when it seems to be a large number of risks that are still unknown. At least that's my my point of view.

Yes.

Yeah, exactly.

So,

yeah, I think that's right.

So, so, so maybe maybe let's start with um uh stuff that's not fully FDA approved. I think the canonical example would be like the Chinese peptides, the reetta, the stuff you buy online and inject and it's based on some interesting scientific literature but it hasn't actually been through the full FDA process yet. Where do both of you stand on that?

Yeah. I mean, why why do you have a right to pirate somebody's intellectual property?

Oh,

you know, this this is this is the property of Eli Liy. They discovered it. They spent billions of dollars on it.

You want to steal it? You want to work with a Chinese company stealing it? I mean, that's not good for America. That's not good for the drug industry. And guess where these where do these drugs come from? They come from American R&D labs.

And if you keep stealing them and pirating them in this like weird twilight like, you know, DIY drug system, which is not very large, uh, at least compared to pharma. You know, I don't know if you make a big impact, but if if it went very large scale, you would. I mean you you would stop having drugs the same way pirating music would would you know have huge ramifications for the music ecosystem. So you have to respect intellectual property to some extent and then taking a true tide which is just sort of a GLP plus if you will uh instead of just waiting it for it to be FDA approved or like using ompic. I think this is like the worst riskreward decision uh you could possibly make. It's like some of the decisions I used to make in the past. um you know what is your upside to to taking illegally manufactured reducide from some other place and you can't verify it etc versus just taking gopic uh the people that are take peptides and have these peptide stacks are mostly people in SF maybe New York they're very wealthy people they don't know what the rest of the world looks like nobody else in middle middle America is excited to do this it's not normal max to inject yourself with things um you know this isn't like a a thing everyone should be doing. Uh and so to me, the Red True type case is really insane because this is a drug that Eli Liy is going to get approved eventually.

Uh and and the fact that you know there are people dying of certain terrible diseases and they need compassionate use. They need to get on uh extension programs but nobody needs reach now right now before agree on this. So I think the things we agree on are that um the existing FDA approved GLP-1 receptor agonists are an interesting category of drug and they're a peptide and they're impactful. I think we also agree that um companies should not do things illegally and infringe on the patent for reta right I do think the patent system incentivizes innovation. I think the crux of where we disagree is not and and ju just quickly on the this is the NSF thing that is not true. If you speak I know dozens of people who own these research use companies and if you speak to them the majority of their audience is middle America not not not SF tech bros despite the tech bros being noisy on Twitter. I think the crux of where we probably disagree is the 14 or so peptides that RFK has said they might move from category one two meaning they cannot be compounded back to category one meaning they can be compounded. And I guess my like general statement here um is that uh people are taking these compounds, right? They're already using them at scale, right? And the way to minimize risk, the way to minimize risk is to move them from category 2 to category 1, right? To legalize them because the risky thing is the dodgy supply chain we have today. the risky thing.

Well, isn't the isn't the risk isn't Isn't the risky thing just doing like massive sort of unofficial, you know, human trials when we don't

I don't think so. So, I think I think that is true um for peptides that we do not have longitudinal clinical experience and patient experience with. But let's take something like BPC157, which is one of the most controversial ones. So let's let's go right to the meat of things. Let's take something like BBC57. My contention is that thousands of doctors prescribed this. They do and have prescribed this for 10.

You can't prescribe this drug.

Um they give it to their patients, right? You can prescribe semantics give it to their patients.

It's not a drug.

Thousands do that.

My statement is not the semantics of prescribing. My statement is thousands do this.

My other statement is that millions of patients have taken this. At least hundreds of thousands, I believe millions have taken this.

Yeah.

And that clinical experience again is not an RCT, but we cannot ignore it.

Yes, you can.

We can.

Yes, you can. Absolutely.

Wait, wait, wait, wait. It sounds like there's some sort of fundamental disagreement here about like the way BPC57 is being distributed right now because I know people that have told me that they've taken it. Uh, I thought that they were getting it prescribed or recommended to them. Like Martin, what is your

We can agree that it's being given to them.

I think I I think they're getting it, but what's actually what's actually happening here?

How is this happening?

Out out in the back alley. They meet in the back alley.

It doesn't seem like that. It seems like it seems like there are doctors that do have the ability doctors in the world. So, when I was first introduced to peptides, uh, one of the most esteemed doctors in the US said to me, Max, you take so many supplements. Have you explored peptides? Because I think they're a really interesting modality with a few decades of clinical use.

Sure. Right. And I when he said that to me, I was like, "No way. This is this is [ __ ] I'm not injecting myself with something that was weird." So what I did is I went around to around 20 different doctors whose opinion

trusted your gut.

Who who whose opinions I respect.

And I asked them about peptides. And normally when you ask these doctors about anything, you ask them about red meat, you ask them about spinach, they're all divided, right? They're all like one for you, enough for you, punches with peptides, just about all of them except one said, "These are really interesting. I have used these in my patients. Okay. I believe the endogenous molecules, the peptides that exist in our body are going to be the future of medicine.

And those doctors have the incentive to not be wrong. If they're wrong, they could go to jail. If they're wrong, they can have their license stripped. If they're wrong, patients don't come back to them. So, they have the maximum incentive. And for 10 to 20 years, they still give this to their patients and their patients say, "My life changed." Now, you might say it's placebo. My statement is the patient says their life changes and the doctor sees that. Okay, Martin, I want you to react, but but I also want you to to sort of set aside the intellectual property argument. I I like that argument, but let's focus on the the what doctors are doing, how BPC157 is being delivered, that type of thing.

So, so I'm a drug hunter, right? People like me, Vav Ramaswami, we look all around the world for medicine to buy and medicine to put into companies that great firms like A16Z and Founders Fund and other more healthcare maybe focused firms will fund, take it to the IPO, which I've done before, and get paid huge amounts of money. That's what I do. That's what I'm good at. That's why I'm the farmer bro. BPC157 is the biggest scam I've ever seen. It does absolutely nothing. There's no redeemable value to this. Do you know the story about it? Do you guys know? Do you already know?

Please tell us. this guy in Croatia made it. Sich um my my hinterland brother. Uh and you know the only publications about this drug are by him. Nobody else has published about this drug. It's it's not a drug. In fact, nobody has even confirmed that it it's a peptide from the gastric juice as he claimed. Uh nobody can find a sequence that matches that. And the gastric juice of human beings has been thoroughly profiled. Uh it's it's a 15 peptide. So it's 15 amino acids. Halflife is minutes. There's no plausible physiological basis for it to work. And it's it's been in clinical trials. PVA was a local drug company in the Balkans. Very well respected. My add licensed BPC and tried to do clinical trials for it. And guess what? They failed. So this this like weird like you think it's placebo effect thing is placebo effect because yeah I've talked to people that say it's good for recovery and I can imagine if you're sticking yourself with something you might feel like ah I'm less sore today because it just

while you while you are recovering you think that the drug is helping you and of course it is and it's the recovery process you're going through and there's a there's an app for this. If you want to make real money, go make BPC in CGMP conditions and go do a clinical trial and you can be a trillion dollar company like Eli Liy. Instead, you can putts around, you know, buying fake Chinese stuff and then injecting yourself and dreaming that you're doing well. I have a drug here that if I take might also aid my recovery no should I try this? Should I tell you that it works for me? Is it an N of one? Oh my god, I did so great with this N of one. uh you know it it healed my recovery like this is nonsense. This is not science. Science is controlled experiments that are well done very very carefully documented and so forth. Why are we going backwards? Why do we go forwards in in in civilization and society? What is this urge by the valley and I blame the valley

uh to go backwards in time and space?

I I hear your view and I think other people will have it and we don't know whether these are placebo or not yet. You can't make a definitive statement and we don't have the RCT.

Wait, but I thought you I thought you said there there was studies done on BBC 157.

No, there there aren't human there are no human studies done. Uh we

there was one done by PA and it failed.

One study there are dozens of studies of drugs that become commercialized that previously fail. Anyway, my my view is we don't know whether it's placebo or not yet. That that is true and some people will say it's placebo, some will say it's not. My statement is really simple which is you can have Marson's view or you can have the view of thousands of doctors who have used this for 10 to 20 years and have their license in the line. The view of millions of patients who talk about their lives changing. You can have that view. My dad's visiting from Australia and he's been taking painkillers for the past 4 months and can't walk upstairs cuz his back is bad.

He took BBC57 for 3 days and he said to me, "Max, this is the first time in 4 months I haven't taken a painkiller." Again, I'm not saying this isn't placebo. I'm saying we don't know. What I'm saying is I am God. I'm really happy my dad's not in a painkiller.

Right. My co-founder, he lost three organs in hospital. He had an autoimmune disease. They put him in biologics. He took BPC 157. He's off biologics and he doesn't have an autoimmune disease anymore. Again, we will put our money and fund the studies. Um,

put your money where your mouth is. Exactly. We can't We can't ignore the real world evidence. Again,

well, you are ignoring it if you're not putting your money where your mouth is. If you believe that's true,

No, we are.

No, no, no. Do do a do a clinical trial.

We are

tell me about it.

We we're we're in the process of chatting with the people required to set up a clinical trial for this because we will put our money where our mouth is because I've seen thousands of doctors, millions of patients and even the FDA, right, who have said they're going to start legalizing even the FDA.

Okay,

but Max,

you can have your view and I don't that's okay. People will have that view. I will have an opposite view and I'll put my money where my mouth is.

Max, you've never done a clinical trial before, right? you you've never invested in drug companies before but you want to do your first clinical trial on on this drug which you didn't invent you know you see you've heard anecdotal evidence about why because I have seen thousands of doctors millions of patients over one to two decades right go say to my friend um go back on biologics go back to hospital lose another organ say go say to my dad go back on painkillers every single day I don't want my dad on painkillers every single Okay. Now, you might say that's placebo. I say I don't know. But I say with the evidence that we currently have, I believe there's more to

see. You should see what this galaxy gas does for me. It's amazing.

The galaxy. Okay.

No, but what's your question? Is your question, Martin, more that like Okay, you

No pharma guy in their right mind would do this.

Well, hold on. Hold on. Uh, so no pharma guy would do it. Max clearly believes in this. And and what is the intersection of these two things? Is it possible to do the type of study that you're talking about with Silicon Valley backing? Is a $30 million series A enough to get started or do you need to go to Wall Street, IPO, do the biotech thing?

No, you can I I mean plenty of private plenty of private companies do this. There's hundreds if not actually I would say there's thousands of private biotechs. Okay.

Generally, they would pass on something like this.

Well, yeah. Yeah. So why so so there's this body of body of anecdotal evidence.

Mhm.

Yeah. Unpublished evidence.

Yeah. Yeah. Yeah. So So certainly a a drug certainly a drug hunter would have looked at this already, right?

Martin, is you're saying the only admissible evidence is an RCT?

Yes.

And what about all of all of the examples of when something works before anything works with an RCT? There's a time when it works precct. Do you know that in animals?

Uh, no. In humans, there are times when before there's an RCT or

Yes, it does happen sometimes. Yes.

Yes. Look,

they're intelligently because they're intelligently designed drugs

that were designed to do a specific thing

and they do the specific thing and then they work.

Mhm.

Yep.

This is not that. And you think your statement, your singular statement of placebo outweighs the again, we don't know, but I'm saying on the facts we have today, there is more to support the fact this is more likely than not placebo than the

alternative. I would I would bet anything. I would I would bet anything. No trial of BPC would work.

Okay. I guess we'll see.

Uh what else? So So Max, are you is superpower facilitating people getting BPC 157 today? No, we won't sell anything that is not legal to compound, but I I believe the FDA will make it legal to compound soon and then sell it. And I believe the FDA should make it legal to compound because the genie's out of the bottle. People have seen their lives changed and they're getting it anyway.

What else? What else are what else are you excited about

because when people say when people people say peptides with an SOP for one is fascinating approved in 35 countries I take and I never get sick. I used to get sick four or five times a year. I had the most elaborate immune stacks. None of those elaborate immune stacks, 100 things placebo meos now for one. Everyone around me had co CO a few few months back and I didn't get it. Uh a bunch of people around me had influenza. I didn't get it. Every time I get a sore throat, I take BBC 157 DOS now for one and the sore throat disappears. Now this is a drug that is approved in 35 countries, right? Has has some some human human data. Now, farmer in the US hasn't hasn't brought it through trials because they can't patent something that had existed for several years. Um, so I think thyos alpha one is a really interesting one as well.

Okay, Martin, your reaction.

Yeah. Well, drug drug companies can and do patent things that that have existed before. They're

agree with that. I did not say that. I said thyos now for one in the form that is approved in other countries. They cannot patent.

Yeah. And you don't even have to patent a drug, right? You can get seven years orphan exclusivity, 5 years of NCE exclusivity. There's a lot of ways to make money in pharma and pharma if you haven't noticed.

So I agree with that. I agree that they could find some rare disease indication and use thyos alpha one against it and get a patent. My statement is that they could not get a composition of matter patent for thyos alpha one in the way that doctors and patients are using it today.

Sure. I mean you you can change molecules too. I mean there there's a lot of ways

I I I know why would they

do medicine and so we're saying the machinery of the FDA requires something works. We see it in 35 countries. The only way to get it patented is we got to change the molecule and spend 300 million to3 billion. What is that? Like what is that for a system,

right? That's regulatory capture by farmer to me.

I I wouldn't say that necessarily. I think that there there are benefits to to making drugs stronger. Like I said earlier,

drugs peptides are the weakest form of drug. They're not the

except the the best but maybe the best drug of all time is a peptide.

Yeah. But it's very it's it's one of very few. I would say 5% of drugs by revenue

today today right five years ago we didn't even have GLP1s 10 years ago we didn't we

peptides were were and probably always will be a backwater just because they're they're very weak they have no pharmacological properties that are beneficial like like a good half-life and in fact the naked peptide GLPs don't work either they have to be heavily modified by pharmaceutical chemistry

we know this is not true there's an there's FDA approved peptide with a very short halfife. Semarellin diosin alpha one has a very short halfife.

Yeah. No, there are drugs that long halfife to have an effect. We know this. We know this. The FDA know 35 other countries know this.

There are some drugs that that can work with short halfife, but almost every drug guy will tell you that you want a h a long halflife so you don't have to keep taking the drug. There are some drugs

correct and that is fine. And we we have methods now with science to extend the halfife of these compounds and that's part of where the research is going. This is called pharmaceuticals.

Correct.

That's what the industry is. We have an FDA for it. We have all these rules for it. And I don't think we should change that. I mean, these are the the things that have made American pharmaceuticals the one of the greatest industries ever. Um to to start to move away from evidence-based medicine is is a you know, it's potentially very risky and scary thing. I think the riskier thing is there being a gray market because the genies out of the bottle and people are getting these regardless. I think it's far safer to get them through GMP certified compoundingies in the way that the reg the FDA has oversight over rather than the state we're in today which is the gray market.

And this isn't a debate between no peptide and legal. It's a debate between gray market or white market. And I contend white market is net less harm, net higher benefit for the US people.

I think we should treat them like we treat controlled substances, right? I mean, why that there's a very specific set of laws that states what you're allowed to traffic on interstate commerce or not. And you need a a BLA or an NDA or 505B2 to traffic a drug across interstate commerce in the United States of America. And that that that changing that I I don't think is useful or or helpful. No matter how many people on Reddit think that they want to play Dr. House today, that's not something that, you know, they should be engaged in. So this is why I think they need to be legalized because I don't think what we have today is safe. I don't think people going to gray market uh uharmacies and injecting anything into their body is safe. What I do think is far safer and net lower harm and higher benefit the American people is these things being regulated in category 1 and produced in GMP certified facilities and prescribed by doctors. That is safer. So the net harm reducing case is making these category one and legal to be prescribed by doctors. Not all of them, but the ones where we have a sufficient safety signal and a sufficient effectiveness signal.

There there is an arbitrator for that already. It's called the FDA. I mean, why you want a second, I guess, special like specialed version of the FDA for drugs that didn't quite make it so clearly efficacious. Uh what I'm saying is many of these things the FDA might not ever want to to to to research because the patent is hard because they target wellness and prevention and human optimization rather than disease. And the FDA loves their cancer therapeutics. And my statement is if we have sufficient safety and efficacy signals, we reduce net harm by making them legal today. Um we reduce net harm. And try saying to the person who used to be in biologics with autoimmune disease, you have to wait 20 years for something that might never be researched by by by big farmer, right? Try saying to my dad who was on painkillers the past 4 months every single day that you know what this compound you took for 3 days that has been used for two decades. Go back to your painkillers. Try saying that to them and maybe maybe one day farmer maybe in 101 15 years we'll research this. We don't even know. Say that to them.

Martin, it sounds like uh there's a There's a sort of a a mischaracterization of your argument that I'll let you push back on that you're arguing that uh that the FDA has no problems that the FDA is perfectly efficient and that seems crazy. I feel like everyone's upset with every aspect of the government all the time. Uh, is it are you saying that the FDA is anywhere near approving anywhere near to the speed required to approve new drugs, new research as quickly as they could?

I'd say they're pretty good. Uh, you know, I I hate almost every part of the US government, but that's that that's uh that's one I do like and I advise the US government and and I feel like

this is something that, you know, could not be further from our our collective benefit. Um, comp companies love making money. It's capital.

You think you prefer the gray market?

You think the gray market?

I prefer no market.

You don't have the choice of no market. The genie is out of the bottle. Is out of the bottle.

What does that mean?

What? What that means?

We can arrest the genie. We can give the genie. What that means, doctors have prescribed these compounds and they're doing everything they possibly can to get their hands on them. And that can be very risky. And what I'm saying is we have safety and efficacy signals in millions of patients with thousands of doctors in 10 to 20 years.

So Max is arguing that like a war on drugs will not work. It hasn't worked in the past. It is impossible. No because if these are if it's gray market that means illegal like Martin is arguing that we can arrest the genie. But can we Martin? Can we actually arrest the genie? because it seems like there's a lot of genies and you had a product behind you that I think might be not legal either and that was probably available in a corner store and I know that there are t dozens of illegal flavored ecigarettes and vaporizers that come over and they make their way into bodeas all over the United States and like this just happens

provably harmful and they still provably harmful things do it. I'm saying these things doctors have their license on the line.

I don't think I don't think doctors want to recommend peptides. I I don't think doctors like recommending non-FDA approved drugs. I I've never met one that did.

Well, I know thousands of doctors who do. And I'm saying

thousands of I don't know thousands of doctors. I spent my whole thousand is such a big number.

So many doctors.

Um and and what I'm saying is I agree they shouldn't recommend things gray market. What I'm saying is let's legalize because that is net safer for the American people. You're saying that you're saying that you can win. You're saying you're saying that that if we hang out in the gray market, you think it's actually possible to shut down gray market activity. Is that true?

I think you can shut it down. And then I also think that we have a perfectly great system, which is the normal regulatory body we've had for 60 years. Yes.

And creating, like I said, a new specialed version of it for drugs that couldn't quite get on the school bus. Yes. you know, is not something that uh we should do because we have a rigorous way to determine if drugs work or not.

Let's get rid of all gray market and my friend can go back on biologics.

Go back on painkillers.

You should

um all of the farmer can continue making hundreds of thousands of dollars from these biologics. Let's do that. Sure. And you know what? We're not going to shut that. You get what I'm saying?

Uh one more thing. So, so M Martin, your stance is generally that uh these drugs just haven't proven to be that good. They've been around for long enough that a bunch of smart pharma bros and sisters would have like, you know, taken them through trials already if they really

We take a lot of bad stuff through trials. You know, BPC isn't even doesn't even come close to the muster of of a farmer bro.

Yeah. Okay. And so so it's it's it's weak. You're saying there's a placebo that you think is probably real, but then what is the what is the risk, right? Because if somebody's saying like, "Okay, it's a weak drug. I maybe get a placebo effect. Maybe maybe maybe it just helps." But why should somebody

avoid these

avoid it entirely regardless of if they're available on the gray market or on this like, you know,

new version of

I just think we shouldn't normalize making drugs in your bathtub. I think that, you know, there's there's no evidence that any of these things are wellmade. Uh I think we should leave medicine to the experts. I think that's something is very reluctant to do. Uh many people want to feel in a world where maybe they feel like they're losing control, they want to control this thing or a world where we're losing confidence in government, we want to take this into our own hands and it's just not the way to do things. uh medicine has progressed dramatically thanks to the capitalist system uh and the biioharmaceutical system in league with the FDA which doesn't always get it right but is is quite good and you know thanks to that we have drugs for cystic fibrosis we have a cure for cystic fibrosis we have drugs for SMA we have these terrible diseases and one last thing is that a lot of these people in SV you're perfectly healthy you know you're you're talking about two sick people there a second ago but most of the people I know on these peptides they're taking a medapanyl They're taking drugs for diseases they don't have.

And this is not, you know, the the a great use of people's time or or or great for their health. And in some some to some extent, the government does exist to help protect people from them themselves and their own stupidity.

And then Max, you're planning to take BPC 157 through clinical trials. Are you planning to take any of these other peptides through?

Yes. And what what is the where where does that ultimately where does that ultimately go?

Yeah. So we're working with a handful of different biotech companies that are taking these through clinical trials. Um we're in the early days of of setting that up. Um and uh my my statement is not anti- FDA or anti the machinery we have. I think it solves a lot of purposes. I just think it doesn't solve all purposes. And my statement is not that the current system is always perfectly right. I think when new data comes along, when new science comes along, uh when there's a dangerous gray market, we need to accept that the times have changed and adapt the regulation. It has solves a lot of purposes. There are many parts of it that are exceptional, but it is not complete. And I'm saying that we should do what the FDA has said they're doing, which is legalize several of the category 2 peptides that have the strongest safety and efficacy efficacy signals because that reduces net harm for patients and increases net benefit even if pharma doesn't necessarily like it because they're not making money from their $100,000 biologic drug anymore.

Sure.

Martin, any closing statements? It's been great.

Yeah, I just want to say pharma did try to develop BPC and failed.

Yeah. Yeah. Okay. We went through that. It's a good point. Uh well, thank you so much for joining today. Thank you to you both. Everyone had a great time.

Good job keeping it civil, boys.

Yeah. Very civil. This is very civil. Very professional.

Do this again. Again, next time a new peptide goes viral. We'd love to have you both on the show independently or together. Uh have a great rest of your day. Have a great week and we will talk to you soon. Goodbye.

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