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Will psychedelic mushroom vacations come to the U. S.?

The palm-fringed beachfront and breezy cabanas at MycoMeditations are the stuff of glossy travel brochures, but the barefoot vacationers roaming the Jamaican retreat center this winter are seeking a different kind of trip entirely.

They’re here for facilitated sessions using psychedelic psilocybin mushrooms. One of a handful of established psilocybin retreat centers in the world, MycoMeditations was founded in 2015, and in the years since has seen surging interest in the reputed mental health benefits of psychedelics. Often, it’s from people surprised to find themselves seeking help from a mysterious fungus at all.

“In my life I had never done any psychedelic,” said Jessica Young, a 41-year-old executive from Atlanta, who flew to Jamaica for a MycoMeditations retreat in November 2019. “It’s pretty out of character for me.”

Like many Americans unfamiliar with crystal magic or jam band music, Young knew little about psychedelics before reading the best-selling 2018 book “How to Change Your Mind,” by journalist Michael Pollan.

In it, Pollan surveys recent research into psychedelics, which show promise for maladies from treatment-resistant depression to end-of-life distress. Such professorial passages alternate with Pollan’s eyebrow-raising personal experiences with psychedelics including psilocybin, LSD and the crystallized venom of a Sonoran Desert toad.

Young had just turned 40 when she read the book, and she was intrigued by the promise of personal growth that psilocybin seemed to offer. But despite the relative mainstreaming of psychedelics in recent years, psilocybin mushrooms are ranked alongside heroin as a Schedule 1 drug in the United States. To try them legally — an important stipulation for Young — she would have to look abroad.

“Psilocybin is not illegal here, and it’s one of the few places in the world where you can actually use these substances,” said Justin Townsend, MycoMeditations’ CEO and head facilitator. (The Netherlands, where a legal loophole allows for the sale of psilocybin sclerotia, or “truffles,” is another major destination.)

But over recent months, decriminalization efforts have opened a chink in the United States’ forbidding drug laws. In November, D.C. voters approved a ballot initiative to decriminalize the use of psilocybin mushrooms, while Oregonians approved the legal use of psilocybin in therapeutic settings. If restrictions continue to loosen, could stateside psychedelic getaways be America’s next big wellness-
travel trend?

Demand is there. Each month, the inbox of researcher Robin Carhart-Harris fills with requests, sometimes pleas, to join clinical trials at the Centre for Psychedelic Research that he heads at Imperial College London.

When it comes to the healing power of psychedelics, “demand vastly exceeds supply,” Carhart-Harris said. “They’re suffering, and they’re desperate, and other treatments maybe aren’t working.” When it launched in 2019, the center became the world’s first formal site focusing exclusively on psychedelic research; later that same year, Johns Hopkins opened the Center for Psychedelic and Consciousness Research.

Promising findings about psychedelics include treatments for trauma, anorexia, treatment-
resistant depression, addiction and more. Many of those who contact Carhart-Harris in hopes of joining a clinical study are suffering from these. “Often it’s really sad,” he said. “A few a day is typical, and we can’t do anything.”

Mushroom capsules at MycoMeditations. Last year, U.S. News & World Report speculated that psilocybin could beat out cannabis as a hot investment. (Abbie Townsend)

Retreats step into the void between the swelling interest in psychedelic therapy and the tightly controlled trials carried out at the new research centers. And those retreats run a remarkable gamut. Some employ the language, tone and sleekly modern aesthetic of upscale clinics; others are crunchy, off-grid hippie getaways with training lineages rooted in shamanism.

Carhart-Harris’s research has convinced him that psychedelics can facilitate profound transformations, and he’s optimistic about their use beyond the lab. When compared with other drugs — or even alcohol — psilocybin is remarkably safe. It’s not addictive, and toxicity is very low.

In 2018, Carhart-Harris and a team of other researchers published survey results focused on psychedelic experiences “in the wild” — people who got their own stash of drugs and launched into orbit without supervision from a PhD. Overall, respondents did well. “That aggregate data is tending toward improvement,” Carhart-Harris said. “Any negative changes in mental health outcomes are very much the anomaly.”

In addition to offering legal alternatives to an at-home trip, retreats provide support, with the possibility of post-trip counseling to help with “integration,” a meaning-making process many believe is essential. But Carhart-Harris also sees pitfalls in the drugs’ very promise. “It’s easy to see how powerful they are,” he said. “It’s unusual to find drugs, or any intervention, that could change people as reliably. That power requires some responsibility and careful thought around harnessing it safely.”

Writer Michelle Janikian, author of the 2019 book “Your Psilocybin Mushroom Companion,” has volunteered at and participated in magic-mushroom retreats, and echoed Carhart-Harris’s caution. “Folks need to research their retreat leaders,” she said. “Do your homework first to make sure it’s a safe and integral place.”

But Janikian, like many in the world of psychedelics, welcomes the nascent push to legalize and decriminalize psilocybin in the United States. “I’m very excited to see how it continues to go — I think the recent passage in Oregon is going to have kind of a ripple effect.”

Michelle Janikian’s “Your Psilocybin Mushroom Companion,” a guide published in November of 2019. (Ulysses Press)

And many in the investor class see a bright future for magic mushrooms. In September, U.S. News & World Report speculated that psilocybin could beat out cannabis as a hot investment, citing a market analysis estimating the psilocybin market may grow to $100 billion.

Retreats could be part of that growth. Within days of the Oregon vote to legalize psilocybin use in therapeutic settings, Oregon-based Silo Wellness — which cultivates psychedelic mushrooms in Jamaica — announced an Oregon wellness retreat using the drug ketamine. For five socially distanced days in January, a small group will explore waterfalls, go white-water rafting, meditate and undergo three sessions of ketamine-assisted therapy led by naturopath Matthew Hicks.

Silo Wellness founder Mike Arnold described the ketamine sessions as the first legal psychedelic retreat to take place in the United States. (There’s a long-running underground of unsanctioned psychedelic retreats across the country.) Next, he’s planning psilocybin retreats in Jamaica and hopes that soon they’ll be taking place closer to home. Arnold, who would like to see the state become a psychedelic retreat destination, is staking his company on psilocybin’s potential to expand both markets and minds.

What will that mean for Americans? For Young, who traveled to Jamaica in 2019, the experience was transformative.

While she worried she would find a bunch of partying bros, her 2019 retreat was anything but. Instead, she was part of an ­11-person cohort that included six women, more than one grandmother, medical and mental health professionals, scientists and a construction worker.

“Everyone was there with the intention to do some serious work,” Young said. So was she: Over three psilocybin sessions, Young said she grew in ways that years of therapy hadn’t achieved. In November 2020, she returned for a second retreat.

“I came out of that with this very deep knowing that this life force that’s all around us — what I would call love, essentially — is abundant, is ever present,” Young said. “I know that sounds like it comes from a pack of tarot cards. But for me, it’s profound.”

Smith is a writer based in Vermont. Her website is jenrosesmith.com. Find her on Twitter and Instagram @jenrosesmithvt.

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MindMed Closes Upsized Financing of CAD $92.1m (USD $72.7m) to Meet High Investor Demand

Bolsters Cash on Hand to CAD $183.0m (USD $144.4m)

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Jan. 7, 2021 /CNW/ — Mind Medicine (MindMed) Inc. (NEO: MMED), (OTCQB: MMEDF), (DE: MMQ) (“MindMed” or the “Company”) is pleased to announce that it has closed its previously announced bought deal short form prospectus offering, including the exercise in full of the Underwriters’ over-allotment option (the “Offering”). In connection with the Offering, the Company issued 20,930,000 units of the Company (the “Units”) at a price per Unit of CAD $4.40 (the “Issue Price”) for gross proceeds of approximately CAD $92.1m. The Offering was conducted by Canaccord Genuity Corp. (the “Lead Underwriter”), along with Eight Capital and CIBC Capital Markets (collectively, the “Underwriters”).

As announced on December 14, 2020, MindMed originally entered into an agreement with the Lead Underwriter to raise gross proceeds of CAD $50.0m and agreed to increase the size of the Offering to CAD $80.0m on December 15, 2020 due to outsized investor demand. In connection with the filing of MindMed’s final prospectus on December 31, 2020, CIBC Capital Markets was also added to the offering.

MindMed is a leading psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and experiential therapies to address addiction and mental illness. Since the founding of Mind Medicine, Inc. in May 2019, MindMed has now raised a total of approximately CAD $237.2m (USD $183.8m) in investment capital before fundraising and deal expenses, making it one of the leaders in the psychedelic medicine industry in its ability to finance its innovative R&D, a new digital therapeutics division and a growing clinical trial pipeline.

MindMed Co-Founder & Co-CEO, J.R. Rahn said “We are extremely pleased to have the continued support of our Lead Underwriter, Canaccord Genuity, as well as Eight Capital and CIBC Capital Markets as syndicate members. Financing is critical to the fast-growing psychedelic medicine industry as we seek to pioneer a new paradigm and therapeutic asset class for the millions suffering from mental illness and addiction globally.”

The Company intends to use the net proceeds of the Offering for investment in its digital medicine division, for further investments in its LSD experiential therapy program for anxiety disorders (“Project Lucy”), its development of a non-hallucinogenic version of the psychedelic substance ibogaine to address the opioid crisis (“Project Layla”), and its LSD micro-dosing trials for adult ADHD, as well as for general working capital and corporate purposes.

Further Details of Offering

In connection with the Offering, the Company issued 20,930,000 Units of the Company at the Issue Price for gross proceeds of approximately CAD $92.1m.

Each Unit comprises one subordinate voting share of the Company (a “Subordinate Voting Share”) and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Subordinate Voting Share at an exercise price of CAD $5.75 until January 7, 2024. If, at any time following the closing of the Offering, the daily volume weighted average trading price of the Subordinate Voting Shares on the NEO Exchange Inc. is greater than CAD $9.00 per Subordinate Voting Share for the preceding five consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is at least 30 days following the date of such written notice. The Warrants will be listed for trading on the facilities of the NEO Exchange Inc. (the “NEO”) under the symbol “MMED.WR”, subject to the final approval of the NEO.

Subscriptions by insiders of the Company accounted for approximately $1,320,000 of the gross proceeds of the Offering. Participation by insiders in the Offering is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About MindMed

MindMed is a leading psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and experiential therapies to address addiction and mental illness. The Company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to the Company’s groundbreaking approach to developing the next-generation of psychedelic inspired medicines and therapies.

MindMed trades on the Neo Exchange Inc. under the symbol MMED. MindMed is also traded in the United States under the symbol MMEDF and in Germany under the symbol MMQ. For more information: www.mindmed.co.

Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the intended use of proceeds of the Offering, the listing of the Warrants on the NEO,  the Company’s cash reserves and the effects thereof, and the Company’s intended future business plans and operations, including the development of psychedelic inspired medicines and experiential therapies. There are numerous risks and uncertainties that could cause actual results and MindMed’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

Media Contact: mindmed@150bond.com

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Vireo Health Announces Closing of Previously Announced Purchase of Cannabis Licenses in Nevada

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Field Trip Health Ltd. Announces Participation in a MAPS-sponsored Multi-Site Study of MDMA-Assisted Therapy to Treat Eating Disorders

The MAPS-sponsored multi-site study will be the first of its kind assessing the viability of MDMA-assisted therapy to treat eating disorders, including Anorexia Nervosa and Binge Eating Disorder.

TORONTO, Jan. 07, 2021 (GLOBE NEWSWIRE) — Field Trip Health Ltd. (CSE: FTRP) (OTCBB: FTRPF) (“Field Trip”), a leader in the development and delivery of psychedelic therapies, is pleased to announce it has, subject to completion of a final site inspection, been selected as a trial location for a MAPS-sponsored study on the safety, feasibility and preliminary outcomes of MDMA-assisted therapy to treat eating disorders (the “Eating Disorder Study”), including Anorexia Nervosa.

Anorexia Nervosa is a mental health condition and eating disorder characterized by low weight, food restriction, fear of gaining weight and a strong desire to be thin. Anorexia is also the most deadly mental illness, with a higher mortality (death) rate than any other mental illness, leading to potential cardiac complications, heart, kidney and liver failure, bone loss, anemia and suicide.

Subject to the site inspection, Field Trip’s Toronto location will be used as the trial site for the Health Canada-approved Anorexia Nervosa arm of the Eating Disorder Study. Field Trip’s Canadian Medical Director, Dr. Michael Verbora, will act as the Qualified Investigator and Site Physician for this site. During the Anorexia arm of the Study, Field Trip will be hosting MAPS-trained therapists who will be providing MDMA-assisted therapy to an initial cohort of individuals suffering from Anorexia Nervosa, and collecting safety, feasibility and preliminary outcome data.

In December, MAPS announced partial results of its first Phase 3 randomized, double-blind, placebo-controlled study assessing the safety and efficacy of MDMA-assisted therapy for the treatment of post-traumatic stress disorder (PTSD). According to MAPS, the study generated statistically significant results demonstrating that MDMA-assisted therapy may be an effective treatment for PTSD resulting from various types of trauma, including trauma occurring in childhood and in patients with dissociative subtype of PTSD, pending assessment by the U.S. Food and Drug Administration (FDA). Further, no unexpected or serious safety signals emerged during the course of the trial.

Field Trip Announces Annual Contribution to MAPS, Matching Contribution from Founders

Field Trip also announced today that it is becoming a financial supporter of MAPS, committing to making an annual contribution of $50,000 to MAPS, a 501(c)(3) non-profit organization in the United States, which will be matched by a collective contribution from the founders of Field Trip on a dollar-for-dollar basis. Site selection is conducted independently by MAPS Public Benefit Corporation and is unaffected by charitable contributions to MAPS.

“MAPS, led by Rick Doblin’s unique vision and relentless determination, has been at the forefront of the renaissance of psychedelics, pushing for scientific, regulatory and legal change for psychedelics for more than 30 years,” said Ronan Levy, Field Trip’s Executive Chairman. “The success of the Phase 3 PTSD trial is a pivotal achievement for MAPS, and a significant step forward for all people suffering from mental health conditions. We are pleased to be able to financially support MAPS both as an organization and individually, and we are honored to be conducting the critical work necessary to extend the reach of MDMA-assisted therapies to new indications such as Anorexia Nervosa.”

“For-profit or non-profit, we are all together in seeking to bring new methods of psychedelic healing to those millions who need it,” said Rick Doblin, MAPS’ Founder and Executive Director.  “We greatly appreciate the generous support from Field Trip and its founders, and look forward to working with them as part of the Eating Disorder Study and beyond.  One of MAPS’ principles is that we don’t have competitors, just allies in the larger mission of contributing to mass mental health.”

NOTE

The safety and efficacy of MDMA-assisted therapy are currently under investigation. It has not yet been approved by Health Canada or the FDA for any mental health condition, does not work for everyone, and carries risks even in therapeutic settings. These statements are no guarantee of future Health Canada or FDA approval or availability of MDMA-assisted therapy. These statements necessarily involve known and unknown risks and uncertainties, which may cause actual outcomes to differ materially from projections.

About Field Trip Health Ltd.

Field Trip is a global leader in the development and delivery of psychedelic therapies. With our Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics including psilocybin-producing fungi and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe along with the digital and technological tools that will enable massive scale, we help people, from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world.

Learn more at https://www.meetfieldtrip.com, https://www.fieldtriphealth.com and https://www.fieldtriphealth.nl.

Follow us on Twitter and Instagram: @fieldtriphealth

To receive company updates about Field Trip and to be added to the email distribution list please sign up here.

For further information, contact Ronan Levy, Executive Chairman and a Director at Field Trip, at 1 (833) 833-1967. 

ABOUT MAPS

Founded in 1986, MAPS is a 501(c)(3) non-profit research and educational organization that develops medical, legal, and cultural contexts for people to benefit from the careful uses of psychedelics and marijuana. Since its founding, MAPS has raised over $100 million for psychedelic therapy and medical marijuana research and education.

www.maps.org

ABOUT MAPS PUBLIC BENEFIT CORPORATION (MAPS PBC)

MAPS Public Benefit Corporation (MAPS PBC) catalyzes healing and well-being through psychedelic drug development, therapist training programs, and sales of prescription psychedelics while prioritizing public benefit above profit. Founded in 2014, MAPS PBC is a wholly owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), a 501(c)(3) non-profit organization

www.mapspublicbenefit.org

Cautionary Note Regarding Forward-Looking Information.

This release includes forward-looking information within the meaning of Canadian securities laws regarding Field Trip and its business, which may include, but are not limited to, statements with respect to the listing of the common shares of Field Trip on the Canadian Securities Exchange, and the timing of such events. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of Field Trip, and are based on assumptions and subject to risks and uncertainties. Although the management of Field Trip believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the COVID-19 epidemic, the medical clinic industry, market conditions, economic factors, management’s ability to manage and to operate the business and the equity markets generally. Although Field Trip has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Field Trip does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

The CSE has neither approved nor disapproved the contents of this news release.

Media contacts:
Rachel Moskowitz
Autumn Communications
212-206-9780
rmoskowitz@autumncommunications.com / fieldtrip@autumncommunications.com

Investor contacts:
Elizabeth Barker
KCSA Strategic Communications
212-896-1203
ebarker@kcsa.com

SOURCE Field Trip Health Ltd.

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Leading Microbiologist, Dr. Robert E.W. Hancock Appointed As Executive Chairman of Core One Labs Inc.

Vancouver, British Columbia, Canada – January 7, 2021 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company” or “Core One”) is pleased to announce the appointment of Dr. Robert E.W. Hancock as Executive Chairman of the Company, effective January 6, 2021.

Dr. Hancock is an internationally renowned academic in Microbiology and Immunology – having bestowed upon him the title of UBC Killam Professor of Microbiology and Immunology – is the Director of the University of British Columbia’s R.E.W Hancock Laboratory at the Centre for Microbial Diseases and Immunity Research, as well as a former Associate Faculty Member of the Wellcome Trust Sanger Institute in Cambridge, UK – one of the top 3 Genome campuses worldwide.

Receiving his PhD from the University of Adelaide, in 1975, Dr. Hancock has become one of the World’s most highly cited International Scientific Indexing (ISI) research authors, with more than 108,000 citations, and has published more than 780 papers and reviews in his fields of expertise.  Dr. Hancock is the holder of the important position of the Canadian Research Chair in Health and Genomics, as appointed by the Government of Canada, and is also a recipient of the Order of Canada, in addition to numerous other major health research awards.

Dr. Hancock is a co-founder of several companies, both private and public, including Micrologix, Inimex, ABT Innovations, and Sepset Biotherapeutics, and is the CEO of Vocan Biotechnologies Inc. (“Vocan”), a biotechnology company that Core One acquired on December 31, 2020.

Vocan is focused on advancing the knowledge of natural-based medicines for the treatment of mental health illnesses, including addictions, and has identified a patentable method of producing psilocybin, the active ingredient in psychotropic mushrooms.  With the acquisition of Vocan, the Company is in the process of preparing to produce pharmaceutical grade psilocybin for use by researchers engaging in clinical trials, as well as for the recreational and micro-dosing markets.

Dr. Hancock’s role as CEO for Vocan Biotechnologies, positions him as the best fit to lead the Company as Executive Chairman, and provide direction to the Company on its path to becoming a leader in the area of psychedelics as alternative medicines.

“I am honored to be joining Core One labs as the Chair of their Board. The Company’s innovative business strategy and strong leadership team will position it to grow into one of the largest and most influential companies addressing the health and social benefits of safe psychedelic compounds.”, stated Dr. Hancock.

“We are excited to welcome Dr. Hancock to the Company as Executive Chairman.  I look forward to working with him closely as his nearly 40 years of leadership in microbiology research will be vital to guiding our strategic initiatives in the alternative medicine market. His cutting edge research, and focus on producing low cost biosynthesized psilocybin at a large scale is a driving force behind Core One’s position as a leader in the space” stated Joel Shacker CEO of the Company.

Dr. Hancock’s appointment to the Company’s Board of Directors fills the vacancy created by Casey Fenwick, who has resigned as a director of the Company effective immediately to focus on other ventures.  The board of directors of the Company thanks Mr. Fenwick for his service to the Company.

 

About Core One Labs Inc.

Core One Labs Inc. is a research and technology company focused in life sciences and on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy.  The Company has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. With this technology, the Company intends to further develop its IP technology to focus on delivering psychedelic molecules with an initial focus on psilocybin. Core One also holds an interest in walk-in medical clinics which maintain a database of over 200,000 patients combined. Through research and development in these clinics, including the integration of its intellectual property related to psychedelic treatments and novel drug therapies, the Company intends to work towards regulatory approval for research that advances psychedelic-derived treatments for mental health disorders.

 

Core One Labs Inc.

Joel Shacker

Chief Executive Officer

 

FOR MORE INFORMATION, PLEASE CONTACT:

info@core1labs.com

1-866-347-5058

 

Cautionary Disclaimer Statement:

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with environmental and governmental regulations. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970.  Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription. Health Canada has not approved psilocybin as a drug for any indication. Core One Labs Inc. does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One Labs Inc. believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One Labs Inc. does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

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Ontario Brain Institute Increases Investment in Diamond Therapeutics to Accelerate Innovation in Mental Health

 TORONTO, Jan. 7, 2021 /CNW/ – Emerging psychedelic drug development company Diamond Therapeutics has received new investment from the Ontario Brain Institute (OBI), a not-for-profit organization that accelerates discovery and innovation, benefiting both patients and the economy.

An early believer in Diamond’s precision, low-dose approach to psychedelic therapies, OBI provided the company with funding in 2019. Now, OBI has more than doubled its investment. Proceeds will support a clinical trial of low-dose psilocybin intended to begin in early 2021, pending Health Canada approval. The investment is in the form of a convertible debenture.

“There’s an unmet need for the next generation of drugs in the mental health space,” says Tom Mikkelsen, President & Scientific Director of OBI.

“By furthering our investment in Diamond through the NERD (Neurotech Early Research & Development) program, OBI will help improve the evidence base related to low-dose psilocybin. We hope this investment will lead to more accessible treatment options for people living with anxiety and other mental health disorders,” he adds.

“We are very grateful for this follow-on support,” says Judith Blumstock, CEO and Founder of Diamond. “Initial funding from OBI subsidized compelling foundational research into precision, low-dose therapies, and OBI’s continued support will help advance our work to the next level.”

OBI’s first backing helped fund several animal studies exploring the behavioural effects of low-dose psilocybin. 

Data from Diamond’s early research rallied investors to an oversubscribed $2.8 million seed round in spring 2020.

Following its planned Phase 1 clinical trial of low-dose psilocybin in 2021, Diamond intends to conduct clinical studies in anxiety disorders, which represent the most prevalent form of mental illness.

“OBI’s backing will further our pursuit of accessible, low-dose, non-hallucinogenic therapies,” says Blumstock. “We are working to deliver solutions that are safer and more effective, and can provide patients with an ideal therapeutic for the conditions affecting their mental health.”

About Diamond  
Diamond Therapeutics is a psychedelic drug development company based in Toronto. Our mission is to develop new and better therapies for mental health conditions by unlocking the promise of psychedelic compounds. Diamond’s focus is developing and commercializing sub-perceptual, non-hallucinogenic treatments that hold potential for use across a broad patient cohort — maximizing the positive impact better drugs can have on the global mental health crisis. To learn more about Diamond, visit us at www.diamondthera.com.

About Ontario Brain Institute
The Ontario Brain Institute is a not-for-profit organization that accelerates discovery and innovation, benefiting both patients and the economy. Our collaborative ‘team science’ approach promotes brain research, commercialization and care by connecting researchers, clinicians, industry, patients, and their advocates to improve the lives of those living with brain disorders. Welcome to Brain Central. Visit www.braininstitute.ca for more information. Follow us on Twitter (@OntarioBrain). Funding provided, in part, by the Government of Ontario.

SOURCE Diamond Therapeutics Inc.

For further information: Rebecca Brown, rebecca@diamondthera.com

Press Release

Diamond Therapeutics Signs Agreement with McGill University for Research on Low-Dose LSD

 TORONTO, Feb. 4, 2021 /CNW/ – Diamond Therapeutics Inc. (“Diamond“), a leading psychedelic drug development company focused on low-dose therapies for mental health, has entered into an agreement with McGill University for the exclusive use of Dr. Gabriella Gobbi’s groundbreaking studies with lysergic acid diethylamide (LSD), its mechanism of action on the brain, and its potential for use at low doses in the treatment of mental health disorders. 

The agreement provides Diamond with access to the technology, data and intellectual property developed by Dr. Gobbi and postdoctoral fellow Danilo De Gregorio, PharmD, Ph.D. and published in the Proceedings of the National Academy of Sciences of the United States of America. The work investigates for the first time the mechanism of action behind LSD’s effect on social interactions. The findings suggest that psychedelics could play a role in treating diseases characterized by social impairment, such as autism spectrum disorder and social anxiety disorder. 

“The studies we are conducting bring us closer to a fundamental understanding of how psychedelic compounds affect mood, cognition and social behaviour, providing a foundation that is crucial to drug development,” Dr. Gobbi explained. “I’m thrilled to initiate this collaboration with Diamond, which promises to pave the way towards the translation of our discoveries into innovative clinical strategies.”

Diamond will also be working on a series of research studies in collaboration with Dr. Gobbi’s laboratory. “We’re honoured to be working together and view this as the starting point for a long and productive partnership,” said Judith Blumstock, Chief Executive Officer of Diamond. “Dr. Gobbi’s work is expected to provide valuable preclinical and clinical data and intellectual property. Advancing this research could further Diamond’s pursuit of low-dose, sub-perceptual, psychedelic-derived medicines that are safer and more effective for patients than the current first-line treatments.”

Dr. Gobbi will act as a consultant to Diamond and is expected to provide input into the company’s preclinical and clinical programs. “Dr. Gobbi’s combination of extensive research expertise and clinical insights make her a perfect addition,” said Diamond’s Scientific Advisory Chair, Dr. Edward Sellers.

“Working with commercial partners such as Diamond Therapeutics is an important step in realizing the benefits of research for society,” said Mark Weber, Director of the Office of Innovation and Partnerships at McGill. “Our team is proud to play an important role in facilitating these relationships, and we look forward to more of them.”

The Office of Innovation and Partnerships and McGill’s neuroscience accelerator, NeuroSphere, were instrumental in forming the partnership between Diamond and McGill, which comes at a time of urgent need for the next generation of mental health drugs. The World Health Organization estimates that depression affects more than 250 million people worldwide, while anxiety is the most prevalent mental health disorder in the United States, affecting more than 40 million adults. Existing treatments, including SSRIs, have low efficacy (<50%) and many side effects but are expected to surpass a market size of US$ 75.7 billion by 2027.

“Lysergic acid diethylamide (LSD) promotes social behavior through mTORC1 in the excitatory neurotransmission,” by D. De Gregorio, N. Sonenberg, G. Gobbi, et al, was published in PNAS on January 25, 2020. Doi: 10.1073/pnas.2020705118

About Diamond 

Diamond Therapeutics is a psychedelic drug development company based in Toronto. Our mission is to develop new and better therapies for mental health conditions by unlocking the promise of psychedelic compounds. Diamond is focused on sub-perceptual, non-hallucinogenic treatments that hold potential for use across a broad patient cohort — maximizing the positive impact better drugs can have on the global mental health crisis. To learn more about Diamond, visit www.diamondthera.com.

About McGill University

Founded in Montreal, Quebec, in 1821, McGill is a leading Canadian post-secondary institution. It has two campuses, 11 faculties, 11 professional schools, 300 programs of study and some 38,000 students, including 8,800 graduate students. McGill attracts students from over 150 countries around the world, with more than 7,700 international students making up 20 percent of the student body. Almost half of McGill students claim a first language other than English, including 38 percent who claim French as their first language.

About NeuroSphere 

NeuroSphere is the McGill accelerator dedicated to innovation and partnership in neuroscience research funded through Healthy Brains, Healthy Lives (HBHL). Through support from HBHL, McGill has an opportunity to focus on neuro-innovation and help high potential projects move towards commercialization. Strategic approaches and activities will also be undertaken to ensure that NeuroSphere acts as a facilitator for all commercialization projects coming out of the neuroscience community at McGill University.

Cautionary Statements Regarding Forward-Looking Information
This news release includes certain “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes statements other than statements of historical fact that can be identified by phrases such as “expects”, “anticipates”, “intends”, “aims”, “plans” and “believes”, and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the expected benefits of the collaboration, the investigation and development of potential new treatments and continued research. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; that factors may occur which impede Diamond’s future business plans; the results of continued development, marketing and sales; and other factors beyond the control of Diamond. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Diamond disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Diamond Therapeutics Inc.

For further information: Rebecca Brown, rebecca@diamondthera.comTORONTO, Feb. 4, 2021 /CNW/ – Diamond Therapeutics Inc. (“Diamond“), a leading psychedelic drug development company focused on low-dose therapies for mental health, has entered into an agreement with McGill University for the exclusive use of Dr. Gabriella Gobbi’s groundbreaking studies with lysergic acid diethylamide (LSD), its mechanism of action on the brain, and its potential for use at low doses in the treatment of mental health disorders. 

The agreement provides Diamond with access to the technology, data and intellectual property developed by Dr. Gobbi and postdoctoral fellow Danilo De Gregorio, PharmD, Ph.D. and published in the Proceedings of the National Academy of Sciences of the United States of America. The work investigates for the first time the mechanism of action behind LSD’s effect on social interactions. The findings suggest that psychedelics could play a role in treating diseases characterized by social impairment, such as autism spectrum disorder and social anxiety disorder. 

“The studies we are conducting bring us closer to a fundamental understanding of how psychedelic compounds affect mood, cognition and social behaviour, providing a foundation that is crucial to drug development,” Dr. Gobbi explained. “I’m thrilled to initiate this collaboration with Diamond, which promises to pave the way towards the translation of our discoveries into innovative clinical strategies.”

Diamond will also be working on a series of research studies in collaboration with Dr. Gobbi’s laboratory. “We’re honoured to be working together and view this as the starting point for a long and productive partnership,” said Judith Blumstock, Chief Executive Officer of Diamond. “Dr. Gobbi’s work is expected to provide valuable preclinical and clinical data and intellectual property. Advancing this research could further Diamond’s pursuit of low-dose, sub-perceptual, psychedelic-derived medicines that are safer and more effective for patients than the current first-line treatments.”

Dr. Gobbi will act as a consultant to Diamond and is expected to provide input into the company’s preclinical and clinical programs. “Dr. Gobbi’s combination of extensive research expertise and clinical insights make her a perfect addition,” said Diamond’s Scientific Advisory Chair, Dr. Edward Sellers.

“Working with commercial partners such as Diamond Therapeutics is an important step in realizing the benefits of research for society,” said Mark Weber, Director of the Office of Innovation and Partnerships at McGill. “Our team is proud to play an important role in facilitating these relationships, and we look forward to more of them.”

The Office of Innovation and Partnerships and McGill’s neuroscience accelerator, NeuroSphere, were instrumental in forming the partnership between Diamond and McGill, which comes at a time of urgent need for the next generation of mental health drugs. The World Health Organization estimates that depression affects more than 250 million people worldwide, while anxiety is the most prevalent mental health disorder in the United States, affecting more than 40 million adults. Existing treatments, including SSRIs, have low efficacy (<50%) and many side effects but are expected to surpass a market size of US$ 75.7 billion by 2027.

“Lysergic acid diethylamide (LSD) promotes social behavior through mTORC1 in the excitatory neurotransmission,” by D. De Gregorio, N. Sonenberg, G. Gobbi, et al, was published in PNAS on January 25, 2020. Doi: 10.1073/pnas.2020705118

About Diamond 

Diamond Therapeutics is a psychedelic drug development company based in Toronto. Our mission is to develop new and better therapies for mental health conditions by unlocking the promise of psychedelic compounds. Diamond is focused on sub-perceptual, non-hallucinogenic treatments that hold potential for use across a broad patient cohort — maximizing the positive impact better drugs can have on the global mental health crisis. To learn more about Diamond, visit www.diamondthera.com.

About McGill University

Founded in Montreal, Quebec, in 1821, McGill is a leading Canadian post-secondary institution. It has two campuses, 11 faculties, 11 professional schools, 300 programs of study and some 38,000 students, including 8,800 graduate students. McGill attracts students from over 150 countries around the world, with more than 7,700 international students making up 20 percent of the student body. Almost half of McGill students claim a first language other than English, including 38 percent who claim French as their first language.

About NeuroSphere 

NeuroSphere is the McGill accelerator dedicated to innovation and partnership in neuroscience research funded through Healthy Brains, Healthy Lives (HBHL). Through support from HBHL, McGill has an opportunity to focus on neuro-innovation and help high potential projects move towards commercialization. Strategic approaches and activities will also be undertaken to ensure that NeuroSphere acts as a facilitator for all commercialization projects coming out of the neuroscience community at McGill University.

Cautionary Statements Regarding Forward-Looking Information
This news release includes certain “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes statements other than statements of historical fact that can be identified by phrases such as “expects”, “anticipates”, “intends”, “aims”, “plans” and “believes”, and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the expected benefits of the collaboration, the investigation and development of potential new treatments and continued research. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; that factors may occur which impede Diamond’s future business plans; the results of continued development, marketing and sales; and other factors beyond the control of Diamond. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Diamond disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Diamond Therapeutics Inc.

For further information: Rebecca Brown, rebecca@diamondthera.com

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COMPASS Pathways plc to participate in HC Wainwright and ICR investor conferences

COMPASS Pathways plc (Nasdaq: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that members of its management team will participate in two investor conferences during the week of 11 January 2021.

George Goldsmith, Chairman, CEO and Co‑founder, and Lars Wilde, President, Chief Business Officer, and Co‑founder, will be participating in a fireside chat available on demand from 11 to 14 January in conjunction with the HC Wainwright BioConnect 2021 Conference.

George Goldsmith and Lars Wilde will also present a business update and hold a fireside chat at 12:15 pm ET on 14 January at the Westwicke Healthcare Day at the ICR Conference 2021.

Audio webcasts of the fireside chats will be available on the “Events” page of the Investors section of the COMPASS website at https://ir.compasspathways.com/news-events/events. A replay of events will be available for 30 days following the event.

About COMPASS Pathways

COMPASS Pathways plc (Nasdaq: CMPS) is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health. Our focus is on improving the lives of those who are suffering with mental health challenges and who are not helped by current treatments. We are pioneering the development of a new model of psilocybin therapy, in which our proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support. COMP360 has been designated a Breakthrough Therapy by the US Food and Drug Administration (FDA), for treatment-resistant depression (TRD), and we are currently conducting a phase IIb clinical trial of psilocybin therapy for TRD, in 21 sites across Europe and North America. We are headquartered in London, UK, with offices in New York, USA. Our vision is a world of mental wellbeing.

Enquiries:

Media: Tracy Cheung, tracy@compasspathways.com, +44 7966 309024
Investors: Stephen Schultz, stephen.schultz@compasspathways.com, +1 401-290-7324

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2020 Was A Year of Historic Firsts That Set the Stage for the Psychedelic Renaissance

Published at Microdose

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The world undoubtedly faced unforeseen challenges last year in the wake of the Coronavirus pandemic. However, we as a society also witnessed psychedelic medicine make unprecedented progress in 2020. From Mydecine’s first psilocybin extraction to Compass Pathways debuting on the NASDAQ, 2020 had no shortage of exciting developments on the psychedelic medicine front. Together, this massive progress has set the stage for the psychedelic renaissance with much more to come in 2021. Here is a list of all the historic firsts that psychedelic medicine had in 2020.

First Psychedelic

Mydecine Innovations Group Completed First Legal Psilocybin Extraction & International Export

The innovative team at Mydecine completed the first legal psilocybin extraction in 2020. They were also the first to export these mushrooms internationally. From the press release:

“[Myedecine has] completed its first commercial harvest of 20 kilograms of psilocybin mushrooms at its research and cultivation facility in Jamaica. The Company is now preparing to export the harvest to its Canadian cGMP Facility which has a Health Canada schedule 1 Dealer’s License attached to it, allowing for legal import.”

This historic milestone sets an extraordinary precedent for psilocybin science and psychedelic medicine as a whole.

Mindleap Launches First Psychedelics Focused Telehealth Platform

The psychedelic renaissance is bringing forth an exciting new age of digital therapeutics and telehealth platforms. At the forefront of this movement is Mindleap Health, a subsidiary of the Myedicine group, that launched the world’s first telehealth platform for psychedelic integration.

From the press release:

“Mindleap was founded with the goal of enhancing the wellbeing of millions of people that struggle with mental health problems. By combining traditional telemedicine with mood and behavior analytics, the Mindleap platform offers a powerful set of tools for managing mental healthcare.”

The robust platform allows users to browse vetted and experienced specialists and easily schedule appointments and purchase mental health services.

There are benefits for the healthcare providers too. From the release:

“Specialists on Mindleap benefit from the platform’s full freedom to manage their virtual practice on their terms; setting their own prices and choosing the hours they work each week (with no minimums or maximums).”

As the psychedelic renaissance continues to progress, so will the diverse and robust arena of digital therapeutics. Such progress stands to benefit the entire field of healthcare, a promising thing to look forward to.

Compass Pathways’ Leads the Way as the First Psychedelics Company To IPO on the NASDAQ

Being the first psychedelic company to debut on the NASDAQ is a really big deal, and that’s exactly what the Peter Thiel-backed dynamo, Compass Pathways (ticker: CMPS), managed to do. The team at Compass listed a $100 million dollar IPO for psilocybin-based therapy. With millions of people suffering from depression across the globe, the team at Compass is poised to make a massive impact on mental health treatment with psilocybin therapy. Their debut on the NASDAQ sets a major precedent for psychedelic stocks and the emerging renaissance overall.

Field Trip Launched the First Psychedelics app & Opened Psychedelic-Enhanced Therapy Centers

The progressive team at Field Trip Health launched the first psychedelics app, Trip, that “allows people from anywhere in the world to access tools that support self-exploration and consciousness expansion through meditation, breathwork and more.” In addition to expanding their digital offerings, the progressive team at Field Trip also opened psychedelic-enhanced therapy centers in Canada and the United States. Their most recent center, which currently offers ketamine-assisted psychotherapy, opened up in Chicago, Illinois.

First Psychedelic

Mydecine Innovations Group Launched First Ever Psilocybin Clinical Trials with Veterans

Originally based out of Denver, Mydecine (CSE: MYCO) launched the first ever psilocybin-based clinical trials for treatment of war veteran PTSD. Indeed, after buying NeuroPharm Inc. in the summer of 2020, Mydecine went ahead to proceed with these clinical trials. The clinical trials also hoped to treat PTSD among EMS and first responders, and this noble effort reached Phase 2A of the clinical process. Those who have been in space for quite some time will recall that PTSD is usually coupled with subsequent depression and/or substance use disorder – which are also indications which psilocybin may treat effectively.

MindMed Announces First-Ever Clinical Trial Combining MDMA and LSD

You read correctly – Mind Medicine (NEO: MMED), the leading psychedelic pharmaceutical company championed by Shark Tank’s Kevin O’Leary, announced the first ever clinical trial exploring the therapeutic benefits of combining MDMA and LSD. This combination, once dubbed as “candy flipping” in the underground psychedelic scene, is now being explored with clinical prowess for the first time. In the original announcement of this trial, MindMed explained that MDMA may negate the negative effects of LSD (or other classical psychedelics, for that matter). This move is quite genius considering that some of the unpleasant side effects of LSD (e.g., a considerably strange “come up,” subsequent panic, etc.) would be easily replaced by the well-studied euphoria induced by MDMA.

Psychedelic Pioneers at Numinus Team Up With MAPS to Conduct Groundbreaking MDMA-assisted Psychotherapy Trial for PTSD

The psychedelic pioneers at Numinus, one of the best known players in the space, teamed up with with MAPS last year and announced a collaboration agreement regarding an open-label trial of MDMA-assisted psychotherapy for PTSD. The dynamic psychedelic company also completed their first legal psilocybin harvest in October of 2020–another huge first for the team and the psychedelic renaissance overall.

You can learn more about the exciting developments from the Numinus team by checking out this PsyCap recap from their Psychedelic Capital presentation here.

Fireside Project, a San Francisco-based nonprofit organization, is launching a psychedelic peer support hotline — the first of its kind.

Though the news of psychedelic therapy advances is exhilarating and fun to watch, the actual psychedelic therapy sessions are quite challenging. Part of what makes psychedelics such a powerful adjunct to psychotherapy is their ability to bring difficult (but necessary for healing) conversations to the forefront of one’s psyche. Likewise, some can be especially off-put by induced hallucinatory effects. Luckily, the first ever psychedelic peer support hotline will be available to the public in 2021. Launched by Fireside Project, a San Francisco-based non profit, the hotline is meant to walk folks through these challenging and sometimes outright scary psychedelic experiences. This is a huge step up for the harm reduction movement, as psychedelic experiences are most powerful when done safely. The hotline (1-833-2FIRESIDE) is slated to begin April 14, 2021, and run 24/7. What a fantastic contribution to the modern drug user’s arsenal of safe protocols.

UK Company, Small Pharma, Secures Approval for World’s First DMT Clinical Trial

One of the larger firsts this previous year was one felt on an international level – the world’s first regulatory-approved patient clinical trial using N,N-dimethyltryptamine (DMT). Executed by UK neuropharmaceutical company Small Pharma, this announcement debuted Dec. 10, 2020. Like most companies in this space, their focus on psychedelics is in pursuit of alleviating clinical mental health symptoms. DMT has considerably shorter (and more controllable) duration than other psychedelics, which brings about unique therapeutic applications. This is partially why Canadian biotech company Entheon Biomedical is pursuing DMT in treatment of substance use disorder.

Mindmed is the First Psychedelic Company to Go Public & Trade on the NEO Exchange

After a fantastic pre-IPO round for MindMed, featuring the aforementioned Kevin O’Leary and also Bruce Linton (prolific investor and former CEO of Canopy Growth), the company became the first psychedelic organization to go public. Subsequently, MindMed started trading on the NEO exchange under the ticker symbol MMED. The company’s historic pre-IPO round raised a whopping $24 million (of course, we’d later see them reap in significantly more capital). Furthermore, upon being listed on the NEO exchange, MindMed sold over 14 million shares. It is precisely this kind of news that draws in more investors towards emerging psychedelic companies period.

Mindbloom is the First Company to do an “At Home” Virtual Ketamine Treatment

Amid a horrific heightening of the COVID-19 pandemic, NY-based mental health company MindBloom offered remote-enabled ketamine therapy to struggling homebound individuals. This is an especially important service for two reasons: first, the mental health crisis increased amongst U.S. citizens once social distancing (e.g., stay at home orders, consequential closing of workplaces) was implemented. Folks were stuck at home, and because of this, existing mental health symptoms were exacerbated which were otherwise regulated by a change of scenery and the comfort of in-person relationships. MindBloom’s ketamine therapy sessions helped such individuals. Second, existing in person mental health care facilities were no longer ethically able to have patients come in. Some of this nation’s most depressed members deeply depended on the care of a mental health professional, and in the face of losing that care, MindBloom provided a safe virtual alternative.

The Conscious Fund Launched the World’s First Psychedelic Job Board

Time and time again, the psychedelic community may subconsciously take the lesser discussed roles of psychedelic medicine for granted. Indeed, headlines consistently remind us of mover-shaker CEOs and investors in the space, but likewise, the industry runs thanks to the therapists, project managers, media associates and other employees of psychedelic medicine. The Conscious Fund (the leading global early-stage venture fund for psychedelics) helped many fulfill these roles in the summer of 2020, when they launched the world’s first psychedelic industry job board. The premise and usefulness of this job board is summarized perfectly in their initial announcement of the job board:

“Even with a global downturn, the psychedelic medicine industry is booming and creating an entirely new range of exciting opportunities and career paths across roles in science, manufacturing, finance, operations, and professional services. However, despite this exciting growth, we noticed there was an information gap between professionals looking to enter the space and companies looking to access global talent. We decided to fix that.”

The DPV Launched the World’s First Psychedelic Video Museum

Cleverly announced on April 16, the day Albert Hoffman first accidentally tripped on LSD, The Daily Psychedelic Video announced their launch of the world’s first psychedelic video museum. For those who missed it, Daily Psychedelic Video (DPV) has spent the last decade making and posting fantastic psychedelic visuals for the public to enjoy. They doubled down on this and created a psychedelic video museum, featuring 700 DPV videos and 45 different themed exhibits (e.g., sixties psychedelia, psychedelic activism, psychedelic hip hop, etc.). Readers are encouraged to check out the DPV museum ASAP, for it truly represents our juncture in time – the intersection of technology and psychedelia.

The University of Aukland Launched the World’s First Randomized Controlled Clinical Trial of LSD Microdosing

Despite the growing interest and positive testimonies regarding microdosing worldwide, the law still makes it quite difficult to study microdosing’s efficacy. But in 2020, the University of Aukland launched the world’s first randomized and controlled clinical trial pertaining to microdosed LSD. The trial involved 40 male volunteers who agreed to take sub psychedelic LSD dosage “every fourth morning” of their daily schedule. We ought to say thank you to psychedelic academic figures like Dr. Suresh Muthukumaraswamy for pioneering such studies, especially in New Zealand, where the drug has spent many decades as a strongly prohibited substance.

A Scientific First: How Psychedelics Bind to Key Brain Cell Receptor

For the first time, scientists solved the high-resolution structure of these compounds when they are actively bound to the 5-HT2A serotonin receptor on the surface of brain cells. This discovery is already leading to the exploration of more precise compounds that could eliminate hallucinations but still have strong therapeutic effects. Psilocybin – the psychedelic compound in mushrooms – has already been granted breakthrough status by the FDA to treat depression.

Oregon is First State to Legalize Psilocybin

Those who didn’t keep up with psychedelic industry news certainly heard about the following 2020 groundbreaking moment, as it pertains to cognitive liberty more broadly, and came at a time of high political tension. On Nov. 3, Oregon passed measure 109 – a legislative measure that legalized psilocybin for therapeutic application. Likewise, this news was coupled with the passing of measure 110, which decriminalized small possession of all drugs in general. Taken together, this news shows a remarkably progressive attitude towards drugs and drug usage in Oregon, and we can only hope the rest of the world follows suit.

First Psychedelic

A Terrific Way to Enter 2021

The psychedelic medicine renaissance triumphed above what many have called the worst closer to a decade in modern history. Beyond public health obstacles, the industry overcame financial downfall, which is evident by some of these aforementioned “firsts.” Equally important, 2020 set the stage clinically, which means this well funded machine can now explore even more neuro-based treatments for trauma, addiction, depression, and other psychological issues plaguing society. We look forward to covering all the victories to come in the new year and would like to thank the people who made this previous year possible.

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Mind Cure Announces Build-Out of Digital Therapeutics, iSTRYM: A Technology Platform for Mental Wellness Optimization & Psychedelic Research

Mind Cure’s iSTRYM (pronounced eye-stream) has been designed to warehouse the largest collection of psychedelic research and ongoing mental optimization data. With machine learning deployed, iSTRYM will provide greater speed to Mind Cure’s research team, richer data to health professionals and clients, as well as a hub of protocol and procedural information for psychedelic practitioners worldwide.

VANCOUVER, BC, Jan. 06, 2021 – Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“Mind Cure” or the “Company”) is pleased to announce the release of iSTRYM, the Company’s digital therapeutic tool, designed to provide close to real-time data regarding patient care, procedures and protocols, and other resources for therapists, clinicians, and patients with mental health concerns.

“As a life sciences and digital therapeutics company, providing speed to market with novel psychedelic therapies through deeper data analytics is a strength we are developing with iSTRYM. Further, as we build out our database for mental wellness, both therapists and individuals will get mental wellness protocols for wellness optimization and support. iSTRYM exists to become the source that individuals turn to for science-backed, personalized mental health support at scale.”– Kelsey Ramsden, President & CEO.

Gaps between clients, researchers, and therapists create disparities in the collection of critical insights that arise outside of psychedelic-assisted therapy sessions, and ultimately prevent new scientific breakthroughs. Mind Cure’s iSTRYM provides a digital solution to the loss of crucial, uncategorized data points by connecting patient feedback and clinician expertise together in one place. Additionally, most psychedelic therapy research exists in cloistered scientific communities, which limits the possible intersection of great clinical practice and new protocols. iSTRYM brings together a large database of existing protocols to all psychedelic clinicians, enhancing the scientific efficacy for the entire psychedelic research community.

“We’re developing the kind of global administration portal that could become the solution the industry needs. One of the key differentiators in our proprietary tech piece is the implementation of artificial intelligence, working in the background, to taxonify the uncategorized daily inputs from patients into tangible assets that will then inform treatments. From onboarding patients to collecting critical insights across different arms of the psychedelics research space, iSTRYM could revolutionize the way we build communities around a common goal of mental wellness.” – Geoff Belair, CTO.

About Mind Cure’s iSTRYM

iSTRYM is a centralized management system for psychedelic therapeutic research, the deployment of care and integration based on a microservices design model, and is built with responsive principals. iSTRYM contains strategic data loops that continually aggregate new insights, and an application that equips patients as active participants in their own mental wellness journey.

The focus with iSTRYM is to disrupt the mental health industry by providing accessible and innovative technological resources that optimize the use of patient data to support diagnoses and treatments. iSTRYM’s app component will record patients’ uncategorized data, such as weather, location, mood, heart rate, and other metrics that take place after therapy sessions and throughout therapeutic integration.

This protocol optimization coupled with iSTRYM’s AI will create a convergence of commonalities among patients. iSTRYM will use AI to collate insights found across datasets to steer clinicians towards better diagnoses, treatments, and ultimately personalized care at scale.

The name iSTRYM reflects empathy, commonalities, and Mind Cure’s mission as an adaptive mental wellness company. The lowercase “i” represents the collective “we” of humanity and life on planet Earth, all of which are connecting, building, and reflecting together as pillars in our world. As a stream flows, adapts, grows, and changes, so do we. We choose to work collectively, utilizing data to elevate and transform our collective mental wellness.

About Geoff Belair

Geoff Belair, Mind Cure’s Chief Technology Officer, has over 30 years of experience leading as a senior architect of innovative technology platforms that require precise, secure integrations. Geoff managed the development of technology solutions in the fintech, banking, and insurance industries. He possesses a unique combination of software architecture and design experience with a deep understanding of technology adoption, with platforms that have exceeded $1 billion in annual activity across 125ᐩ locations. His experience with security infrastructure and agile methodologies ensures technical foundations are scalable in every project he leads.

About Mind Cure Health Inc.

Mind Cure exists as a response to the current mental health crisis and urgent calls for effective treatments. Mind Cure believes in the need to reinvent the mental health care model for patients and practitioners to allow psychedelics to advance into common and accepted care.

Mind Cure is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. Mind Cure is interested in exploring diverse therapeutic areas beyond psychiatry, including digital therapeutics, neuro-supports, and psychedelics, all to improve mental health.

On Behalf of the Board of Directors

Kelsey Ramsden, President & CEO
Phone: 1-888-593-8995

Forward-Looking Information
Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws (also known as forward-looking statements). Forward looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: iSTRYMS’ close to real time data regarding patient care, procedures and protocols, and other resources to therapists, clinicians, and patients of mental health concerns; iSTRYMS’ ability to optimize clinical research; iSTRYMS’ ability to connect a large database of existing protocols to all psychedelic clinicians, enhancing the scientific efficacy for the entire psychedelic research community; iSTRYMS’ ability to disrupt the mental health industry by providing accessible and innovative technological resources that optimize the use of patient data to support diagnoses and treatments; iSTRYMS’ app’s ability to record uncategorized data; and iSTRYMS’ AI’s ability to collate patient-data.

Forward-looking information is based on a number of key expectations and assumptions made by Mind Cure, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and Mind Cure’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect Mind Cure’s business; there will be a demand for Mind Cure’s products in the future; no unanticipated expenses or costs arise; Mind Cure will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that the functional mushroom industry will continue to grow; that Mind Cure’s proprietary technology, iSTRYM, and its database function will be able to effectively optimize protocols and enhance scientific efficacy via patient-led feedback and will continue to grow; and Mind Cure will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what Mind Cure believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.

Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the impacts of the COVID-19 pandemic on the Canadian economy, Mind Cure’s industry and Mind Cure’s business, which may negatively impact, and may continue to negatively impact, Mind Cure and may materially adversely affect Mind Cure’s investments, results of operations, financial condition, and Mind Cure’s ability to obtain additional equity or debt financing, and satisfy its financial obligations; general economic conditions; future growth potential; competition for mental health and wellness investments; Mind Cure’s proprietary technology, iSTRYM, and its database function may not help to optimize protocols and enhance scientific research and may not be able to grow; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. Additional information on the risk factors that could affect Mind Cure can be found under “Risk Factors” in Mind Cure’s final prospectus which is available on SEDAR at www.sedar.com.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to Mind Cure. The forward-looking information is stated as of the date of this news release and Mind Cure assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Mind Cure Health Inc.

Connect: Investor Relations: investors@mindcure.com; 1-888-593-8995

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Lobe Sciences Announces Further Upsizing and Second Closing of Non- Brokered Private Placement

Vancouver, British Columbia–(Newsfile Corp. – January 6, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce, that due to strong investor demand, it has further upsized its previously announced non-brokered private placement of units (the “Units“) from $2,700,000 to $3,445,847 (the “Offering“) and has completed a second and final tranche closing, raising gross proceeds of $1,118,747 (the “Second Tranche Closing“). The Second Tranche Closing consisted of the issuance of an aggregate of 11,187,475 Units at a

price of $0.10 per Unit. Together with the first closing, which was announced on December 24, 2020, the Company has raised total gross proceeds of $3,445,847 pursuant to the Offering, through the issuance of an aggregate of 34,458,475 Units.

Each Unit consists of one common share in the capital of the Company (each a “Share“) and one share purchase warrant (each a “Warrant“). Each Warrant entitles the subscriber to acquire one additional Share at a price of $0.25 per Share for a period of two years from the applicable closing date, subject to an accelerated expiry if, on any 10 consecutive trading days occurring after four months and one day has elapsed following the final closing date of the Offering, the closing price of the Shares (or the closing bid, if no sales were reported on a trading day) as quoted on the Canadian Securities Exchange (the “CSE“) is greater than $0.35 per Share, in which case Lobe may provide notice to the holders of the Warrants by issuance of a news release that the expiry date of the Warrants will be accelerated to the 30th day after the date on which Lobe issues such news release. No finder’s fees were paid in connection with the Offering.

Jonathan Gilbert, Executive Chairman of Lobe, said, “We are extremely pleased with the support we have seen for the Company and the Offering, from both existing and new strategic shareholders, which resulted in upsizing our original offering by over $1.44 million. Our industry is seeing tremendous growth and we intend to build upon this momentum and showcase the Company as a leader by achieving key milestones, including development of our nasal mist device, furthering our pre-clinical studies, closing the Cowlitz sale transaction, and achieving other Company growth initiatives.”

Proceeds from the Offering are expected to be used to fund the Company’s existing business operations, pre-clinical studies with N-Acetylcysteine and psilocybin, device development/engineering, general working capital, marketing and costs of the Offering. Although the Company intends to use the proceeds of the Offering as described above, the actual allocation of proceeds may vary from the uses set out above depending on future operations, events or opportunities.

The Shares and Warrants comprising the Units issued pursuant to the Offering are subject to a statutory four month and one day hold period from the date of issue in accordance with applicable Canadian securities laws. None of the Units will be registered under the United States Securities Act of 1933, as amended, and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Lobe Sciences Ltd.

 

Lobe is a growth-oriented research, technology & services company that provides financial, management, IP and branding support to businesses. The Company operates a portfolio of companies focused on developing transformational medicines and applies refined strategies to help partner companies reach their full potential. Based in Vancouver, BC, Lobe Sciences creates value through acquisitions and development of assets, products and technologies by leveraging its scientific, engineering, branding and operational expertise supported by strong capital markets acumen.

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