No, by itself L-propionyl-carnitine does not treat ED, used in conjunction with v**** it is used to treat ED in individuals with diabetes. Brotzkus' work with diabetes and as a vascular surgeon is probably why he is familiar with the stuff, plus it does lend credence to it being an accidental discovery.
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By itself it may not do much, same way as PGE1 only produces peach fuzz when tested according to the patent. In fact together they may not do much either, it may be the L-propionyl-carnitine that acts as the catalyst and provides the synergy although I'm no chemist so I have no idea.
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Well if it goes systemic then it will have the same sides as 5ar inhibitors, the difference being that whilst one reduces the level of DHT, the other stops the DHT from doing anything useful so whilst mthe echanism is different the end result would be the same.