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Numinus Announces Closing of $17 Million Bought Deal Offering Including Full Exercise of Over-Allotment Option

Proceeds add to recently executed warrants and options of $8.9 million

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

Vancouver, British Columbia, December 29, 2020, Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies, is pleased to announce that it has closed its previously announced bought deal public offering (the “Offering“) of units (the “Units”) through Canaccord Genuity Corp. and Eight Capital (the “Underwriters”) pursuant to a short form prospectus dated December 21, 2020.

Pursuant to the Offering, the Company issued 25,367,850 Units, on an underwritten basis, at the purchase price of $0.68 per Unit (the “Offering Price”), for aggregate gross proceeds to the Company of $17,250,138, which includes the exercise, in full, by the Underwriters of the over-allotment option (the “Over-Allotment Option”) granted by the Company to purchase an additional 3,308,850 Units at the Offering Price.

Each Unit consists of one common share of the Company (a “Common Share“) and one-half of one common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant is exercisable to acquire one Common Share until December 29, 2022 at an exercise price of $0.90 per Common Share.

In consideration for their services, the Company paid to the Underwriters a cash commission equal to 6% of the aggregate gross proceeds of the Offering in the amount of $1,035,008.28, including gross process raised on exercise of the Over-Allotment Option, and issued to the Underwriters 1,522,071 compensation warrants (the “Compensation Warrants”). Each Compensation Warrant may be exercised to acquire one Common Share (each, a “Compensation Share”) at an exercise price of $0.68 per Compensation Share until December 29, 2022.

In addition, the Company paid a corporate finance fee (the “Corporate Finance Fee”) in the amount of $250,000 with 50% of the Corporate Finance Fee paid in cash and 50% of the Corporate Finance Fee paid in Common Shares (the “Corporate Finance Fee Shares”) at a deemed price of $0.68 per Corporate Finance Fee Share for a total of 183,824 Corporate Finance Fee Shares.

The Company intends to use the net proceeds of the Offering for clinic upgrades to prepare for clinical trials, laboratory upgrades, clinic acquisitions, research and development of medical protocols, and general working capital.

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 or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

In addition to the bought deal public offering, over the past 12 weeks, Numinus has received approximately $8.9 million in gross proceeds from the exercise of warrants and stock options.

“This over-subscribed financing, along with the exercised warrants and options, not only strengthens our cash position, but clearly demonstrates confidence in our business model, our progress, and our growth prospects,” said Payton Nyquvest, Founder, CEO, and Chair, Numinus. “We are closing off 2020 in a strong position with the financing topping off our recent exclusive Psilocybe harvest and extraction, our planned compassionate access trial of psilocybin, our partnership with MAPS for an MDMA compassionate access trial, our national expansion with the acquisition of Mindspace, and our successful lobbying of Health Canada resulting in its notice of intent to amend the Special Access Programme to include accessibility to psilocybin and MDMA. We are ready for a fast-paced year ahead, and I would like to use this opportunity to sincerely thank our supporters and to wish you all a healthy, safe and happy New Year.”

 

About Numinus

Numinus Wellness Inc. (TSXV: NUMI) is a mental health and wellness company creating an ecosystem of solutions centred around safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.

Numinus Health is dedicated to delivering innovative treatments to address physical, mental, and emotional health, through clinics and virtual services.

Numinus R&D is conducting implementation science and leveraging partnerships to beta-test and refine optimal models of psychedelic-assisted psychotherapy delivery, setting the stage for approved routine use in mental health and wellness care.

Numinus Bioscience is focused on developing testing methods and effective formulas for the evolving psychedelics space. Health Canada licences, scientific expertise, and new technologies facilitate ongoing innovation, and high-throughput contract services generate established revenue.

Learn more at numinus.ca, and follow us on Facebook, Twitter, and Instagram.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws, including but not limited to statements relating to the use of proceeds from the Offering. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

ON BEHALF OF THE BOARD OF NUMINUS WELLNESS INC.

Payton Nyquvest

President, Chief Executive Officer and Chair

For further information: Dana Harvey, Chief Communications Officer, media@numinus.ca

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Lobe Sciences Announces Upsizing and First Closing of Non-brokered Private Placement

Vancouver, British Columbia–(Newsfile Corp. – December 24, 2020) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“), is pleased to announce that it has upsized its previously announced non-brokered private placement of units (the “Units“) from $2,000,000 to up to $2,700,000 (the “Offering“) and has completed a first closing raising gross proceeds of $2,327,100 (the “First Tranche Closing“). The First Tranche Closing consisted of the issuance of an aggregate of 23,271,000 Units at a price of $0.10 per Unit.

 

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 Warrant for a period of two years from the applicable closing date, subject to an accelerated expiry provision described herein. 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, Lobe may provide notice in writing 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 First Tranche Closing.

The closing of the Offering is subject to a number of conditions, including but not limited to, approval of the Offering by the CSE. The Offering may be closed in one or more tranches. The Company may pay finders fees to eligible finders.

Lobe CEO Tom Baird said, “This is a very exciting time in the industry and the significant interest in Lobe Sciences shown in this private placement is great validation of our strategy and support for the entire Lobe team. This funding will allow us to continue development of our devices, further our pre-clinical studies, as well as support other Company growth initiatives. We are pleased to welcome our new strategic shareholders and would like to thank our existing shareholders for their continued support of the Company.”

Proceeds from the Offering are expected to be used to fund the Company’s existing business operations, preclinical 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.

12/24/2020 2:04:00 PM

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Shining A New, Brighter Light: Three Medication Industry Insights

If I were to pick three trends in the biopharmaceutical industry that are top of mind as we head into the end of this very unprecedented year, it would be purposefully navigating COVID-19, the importance of timely patient access to medications, and an increased focus on innovation. One is universal, the second is increasingly important, and the third is the story of the biopharmaceutical industry.
Purposely Navigating COVID-19
Everyone is touched by COVID-19 and it continues to turn our world upside down. As a manufacturer of innovative medications, our priority is to ensure patients have continuous access to treatment. This includes manufacturing, distribution, and ensuring healthcare professionals and patients have consistent access to life-saving and life-changing therapies. Our efforts involve proactive communication to healthcare professionals, patients, caregivers, advocates, and health authorities. Our outreach ‒ and active listening ‒ provides a unique window into real needs that impact patient access.
One example is the challenges oncology patients face in getting to the hospital for their medical appointments. This insight gave us the opportunity to find a simple and meaningful solution by partnering with a car service in order to get patients safely to their appointments. If patients are facing barriers getting to their hospital and clinic appointments, lets remove the barrier.
Like all employers, we needed to rapidly change our ways of working and adapt to being remote. We needed to become more digital. This involved training, creating new tools, and discovering new ways of communicating. But, to support real change, we can’t just focus on internal eTransformations. We need to support our stakeholders ‒ healthcare professionals and patient groups ‒ by helping them enhance their digital practices and modifying our delivery models and the way we traditionally conduct business.
I’m very proud of our team’s innovative adaptability. We seem to have made a positive impact as supported by third-party data from ZS Canada where AbbVie is highlighted as having one of the best pandemic responses.
Timely Access To Medications
Our mission is to discover and deliver innovative medicines and technologies to raise the standard of care. We are unwavering in our commitment to bring the best science to patients by focusing on ground-breaking medicines to address chronic progressive diseases, investing in new pathways, technologies and approaches, and seeking solutions for diseases that currently have few or no treatments. We take on the toughest health challenges. But we do more than treat diseases, we aim to make a remarkable impact on people’s lives.
When we look at Organisation for Economic Co-operation and Development (OECD) countries, Canada ranks third from last, after New Zealand and Portugal, in terms of amount of time it takes for medications to be listed on public formulary. When we look at Canadian healthcare budgets, we see prescription medications account for 13 per cent of the overall health spend. Despite many innovative drugs addressing unmet medical needs in complex diseases areas such as oncology and immunology, this percentage has been decreasing for years. It is also consistent with countries having comparable healthcare systems (Source: Prescription Drugs Pharma Focus 2024).
I truly believe in the power of partnerships to advance standards of care and build a better, more sustainable healthcare system. Every Canadian should have timely access to the medicines they need.
Focus On Innovation
I see first-hand the incredible progress innovative therapies have made on people lives, on their ability to work and function. In some disease areas, if treated early enough, we have seen patients enter remission. I think about brave Canadians like Mark Silverstein, a chronic lymphocytic leukemia (CLL) survivor.
Through his journey with cancer, he found a new purpose in life. He changed careers and returned to school to become a psychotherapist. He helps clients in his private practice and shares his experience with cancer openly through writing articles, speaking at leukemia/lymphoma conferences, co-facilitating patient survivor groups, and advocating (at Queen’s Park) for better access to the same kind of treatments that have allowed him to keep doing the things he loves. Like so many, he inspires and leads by example.
That is why we are committed to research and development with 21 new products or new indications we hope to deliver by 2023 in Canada. In 2019, we invested over US$5 billion in research and development globally and we are running close to 100 clinical trials in Canada.
Next December, when we reflect on the year, we will all be more focused on what matters and more balanced in our approach to many things in life. Our health and the health or our families and friends have never been more important than now.
This renewed focus has given us all an opportunity to shine a closer light on the vital topic of health. BPM
Denis Hello
Vice-president & General Manager
of AbbVie Canada

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Novamind Completes Reverse Takeover Transaction

Public listing (CSE:NM) expected to occur on or about January 5, 2021

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

TORONTO, ON / ACCESSWIRE / December 24, 2020 / Novamind Inc. (formerly Hinterland Metals Inc.) (“Novamind” or the “Company”), is pleased to announce that it has completed its previously announced reverse takeover of Novamind Ventures Inc. (“Novamind Ventures”) by way of a three-cornered amalgamation (the “Transaction”). The Company will carry on the business of Novamind Ventures, a leading mental health company specialized in psychedelic-assisted psychotherapy.

Yaron Conforti, Chief Executive Officer and Director of Novamind, commented, “The completion of this transaction is an important milestone en route to Novamind’s expected public listing on January 5th. We look forward to engaging with the investment community and the many stakeholders aligned with our mission to enable safe, legal access to psychedelics and to advance research for psychedelic medicine.”

Summary of the Transaction Prior to closing the Transaction, the Company completed a name change from “Hinterland Metals Inc.” to “Novamind Inc.” and a consolidation of its common shares (the “Shares”) on the basis of one (1) post-consolidation Share for every twenty-five (25) pre-consolidation Shares. Concurrent with closing of the Transaction, the Company also converted its outstanding debentures and debenture warrants in consideration for the issuance of an aggregate 916,640 post-consolidation Shares, resulting in 1,372,017 Shares being outstanding at the time of Closing of the Transaction. In addition, prior to closing of the Transaction, the subscription receipts of Novamind Ventures automatically converted into common shares of Novamind Ventures in accordance with their terms and the gross proceeds of CAD$10.0 million from the affiliated financing were released from escrow.

The Transaction was completed by way of a three-cornered amalgamation, pursuant to which Novamind Ventures amalgamated with a wholly-owned Ontario subsidiary of the Company. The amalgamated company now holds Novamind Ventures’ assets as a wholly-owned subsidiary of the Company, and the resulting company will operate under the name “Novamind Inc.”. Pursuant to the Transaction, the Company’s issued and outstanding share capital consists of 40,200,766 basic shares outstanding and 48,088,558 shares outstanding on a fully diluted basis.

In connection with the Transaction, the incumbent Directors and Officers of the Company tendered their resignations. The Board of Directors and Officers of the Company is now comprised of the following individuals: Yaron Conforti (Chief Executive Officer and Director); Reid Robison, MD, MBA (Chief Medical Officer and Director); Jesse Kaplan, CFA (Director); Sruli Weinreb (Director); Chuck Rifici, CPA, MBA (Director); Seneca Anderson (Senior Vice President, Operations); Prakash Gowd (Senior Vice President, Corporate Development); Nolan Ladouceur (Vice President, Business Development); and Jing Peng, CPA, CA (Chief Financial Officer and Corporate Secretary).

Conditional Approval for CSE Listing On December 22, 2020 the Company announced that subject to final Canadian Securities Exchange (“CSE”) approval, the Shares of the Company are expected to commence trading on the CSE under the ticker “NM” on or about January 5, 2021.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics, retreats, and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly-owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Cautionary Statements None of the securities issued pursuant to the Transaction have been or will be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and any securities issued pursuant to the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Investors are cautioned that, except as disclosed in the Listing Statement (or other disclosure documents to be prepared by the Company) to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the company should be considered highly speculative.

The CSE has not in any way passed upon the merits of the Transaction and have neither approved nor disapproved the contents of this press release. Final approval of the CSE for the listing of the Shares will be subject to, among other things, satisfying the listing requirements of the CSE. There can be no assurance that the approval of the CSE regarding the listing of the Shares will be obtained.

Forward-Looking Statements This news release contains forward-looking statements relating to the timing and completion of listing on the CSE and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of the Company include the failure to satisfy the conditions to completion of the CSE Listing set forth above and other risks detailed from time to time in the filings made by the Company under securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that the CSE Listing will be completed on the terms and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

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Core One Labs Signs Definitive Agreement for Acquisition of Biosynthetic Psilocybin Research Firm Vocan Biotechnologies Inc.

Vancouver, British Columbia, Canada – December 24, 2020 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A14XHT) (the “Company”) is pleased to announce that, further to its press release of October 7, 2020, it has entered into a definitive share purchase agreement (the “Purchase Agreement”), dated December 23, 2020, for the acquisition (the “Acquisition”) of all of the outstanding share capital of Vocan Biotechnologies Inc. (“Vocan”), a Canadian-based genetic engineering and biosynthesis research firm developing a proprietary low cost production method to biosynthesize GMP grade psilocybin.

Vocan’s mission is to use science and proprietary technology to advance the knowledge of natural-based medicines for the treatment of mental health illnesses, and addictions. Vocan’s team of scientists, specializing in protein expression and biosynthetic fermentation, have discovered a patentable method of producing psilocybin, the active ingredient in psychotropic mushrooms.  This technology will enable the production of GMP (good manufacturing practices) API-grade psilocybin, which can be used by pharmaceutical companies, API manufacturers and medical research organizations conducting clinical trials. Vocan’s management expects that the unique optimized DNA (deoxyribonucleic acid) construct and producer strain will allow for efficient, cost-effective commercial scale production. Psilocybin production methods developed by Vocan’s innovative technology will allow access to affordable GMP API-grade psilocybin.

Dr. Robert E.W. Hancock, chief executive officer and chairman of Vocan, is a leading researcher at the University of British Columbia, a Killam professor of microbiology and immunology, and a Canada Research chair in health and genomics. He is a co-founder of several companies, both private and public, including: Migenix, Inimex, ABT Innovations and Sepset Biotherapeutics. He has won major health research awards and is an officer of the Order of Canada. Dr. Hancock will continue as chief executive officer of Vocan following completion of the Acquisition.

“Our mission is to develop and bring to market treatments addressing mental health and addictions.  We are excited to complete the acquisition of Vocan – this transaction will significantly enhance Core One Labs’ ability to innovate our psychedelic drug development program.  Vocan’s focus on developing cost effective biosynthesized psilocybin, combined with our novel drug delivery methods takes us much closer to our goal of becoming a leader in the psychedelic medicine space.” stated Joel Shacker, CEO of the Company.

Terms of Purchase Agreement

Pursuant to the terms of the Purchase Agreement, the Company will acquire all of the outstanding share capital of Vocan.  In consideration for the Acquisition, the Company will issue (i) 23,500,000 common shares (the “Consideration Shares”); and (ii) 4,000,000 common share purchase warrants (the “Consideration Shares”) entitling the holders to acquire a further 4,000,000 common shares of the Company for $0.30 per share.

In addition to the Consideration Shares and the Consideration Warrants, the existing shareholders of Vocan will also be eligible to receive bonus payments of up to 5,000,000 common shares of the Company (the “Bonus Shares”). The Bonus Shares will be issuable in two tranches, of which 2,500,000 will be issuable upon the successful synthesis of psilocybin and a further 2,500,000 will be issuable upon the filing of a patent application for such synthesis method in at least one jurisdiction.

It is anticipated that a portion of the Consideration Shares will be subject to the terms of a pooling arrangement, during which time they may not be transferred or traded without the prior consent of the company. The Consideration Shares will be released from the arrangement in tranches over a period of twelve months following completion of the Acquisition.

Completion of the Acquisition remains subject to customary closing conditions, including the receipt of any required regulatory approvals. The Acquisition cannot be completed until these conditions have been satisfied.

The Company is at arm’s length from Vocan and each of its shareholders. The acquisition of Vocan is not expected to constitute a fundamental change for the Company, nor is it expected to result in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. No finders’ fees or commissions are payable in connection with the Acquisition. An administrative fee of 235,000 common shares is owing to a third party consultant who will be assisting with completion of the Acquisition

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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Psychedelic Scientist Robin Carhart Harris Leads The Research Renaissance With Over 100 Peer-Reviewed Publications

Published at Microdose

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Groundbreaking clinical research has become the bedrock of the modern psychedelic renaissance. One scientist pioneering the way forward in psychedelic and consciousness research is Robin Carhart Harris. Currently the head of the Center for Psychedelic Research at Imperial College London, Carhart-Harris has a remarkable record of academic contributions to the emerging space. Having co-authored over 100 peer-reviewed publications, Carhart-Harris has played a pivotal role in the reinvigoration of psychedelic science. Here are some notable scientific achievements Harris has made towards advancing the psychedelic renaissance.

Carhart Harris Breaking Convention

Using fMRI Technology to Dive Deep Into Psychedelics and Brain Function

The hallmark of Carhart-Harris’s research is his use of functional magnetic resonance imaging (fMRI) to investigate brain function when under the influence of psychedelics. Indeed, fMRI data was at the heart of his 2014 paper The entropic brain: a theory of conscious states informed by neuroimaging research with psychedelic drugs. Likewise, fMRI brought us his 2016 research on the neural correlates of LSD experiences. While psychedelic enthusiasts have always understood that these compounds were special, brain imaging was vital to understanding why they were special, how these drugs derive their therapeutic value, the true potential of these drugs, etc.

Curious how Harris’s work is being utilized in the emerging psychedelic medicine industry? Harris is one of the scientific advisors to Entheon Biomedical, a company using DMT to treat addiction. Read our exclusive story detailing the underlying mechanism behind their approach.

Carhart Harris science

Carhart-Harris Was the First Scientist to Administer LSD to Humans in the UK since 1971

After decades of prohibition, Carhart-Harris conducted revolutionary clinical studies – becoming the first scientist to administer LSD to humans in the UK since 1971, when the Misuse of Drugs Act prevented further administrations. This historic achievement marks a turning point in the evolution of psychedelic science and research. On paper, this moves the clinical community closer to understanding the gnosis of these drugs. But beyond scientific vigor and academic advancement, this moment marks a defiance to previously upheld societal standards. For many outside of the psychedelic community (or simply newer to it), this 2014 moment forced them to reconsider their preconceptions about LSD and perhaps drugs at large.

Carhart Harris science 2

Carhart-Harris Has Received Notable Support From Leading Research Institutions

The Beckley Foundation, Hefter Research Institute, and the Multidisciplinary Association for Psychedelic Studies (MAPS) all vehemently support Dr. Carhart-Harris. He is most commonly applauded for his work with psilocybin and LSD, including his especially celebrated research on psilocybin for treatment-resistant depression. It should no surprise that, beyond collaborations, Harris is a highly anticipated speaker at events hosted by the aforementioned institutions.

Robin Carhart-Harris recently spoke at our latest Mydecine Speaker Series – Psychedelic Solutions virtual event. Learn more about our events here.

carhart harris convos

Saying Thank You to Psychedelic Pioneers This Christmas

Harris will surely continue to push the psychedelic neuroscience Overton window. This Christmas, as you’re with your friends and family (in person or virtually), consider spreading the word of these great psychedelic research efforts. The more we inform our loved ones about these once niche-interests, the more we can build our community, whether that be via event attendance or donating to Imperial College London’s psychedelic research efforts.

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The Year In Review For Psychedelic Drug Stocks: 2020

Published at PsychedelicStockWatch.com.

By Jeff Nielson

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In 2020, the psychedelic drug industry burst onto the radar of investors. As psychedelic drug research exploded and new capital has flooded into this sector, a vibrant core of public companies has commenced trading.

Still other pubcos have either added a psychedelics component to their business model or simply rebranded the entire company. Psychedelic drugs became the most important story in life sciences in 2020.

As investors look ahead to 2021, Psychedelic Stock Watch is looking back. We have prepared a 2020 Report Card for the psychedelic drug industry, measuring its development in 5 key categories.

Here is the Psychedelic Stock Watch 2020 review.

Stock performance:  A

After a subdued summer for psychedelic stocks, the industry caught fire in September with the Compass Pathways IPO. A new NASDAQ listing and the nearly $150 million raised by Compass for its IPO financing provided an instant credibility boost for these new public companies.

See: Compass Pathways Files For NASDAQ Listing: Psychedelics Game-Changer

Several stocks went vertical. Investors who got in early had a number of multi-bagger opportunities.

The Compass IPO was the initial catalyst driving this rally. But fueling upward momentum was a rapid-fire series of new financings that injected ~$500 million into the sector – in just the last 3 ½ months of 2020.

Raising capital:  A+

Drug development is expensive. Taking a single drug through the clinical trials process can cost in excess of $100 million – and consume several years of time.

Even building and operating a network of psychedelics-assisted treatment clinics requires robust infusions of capital. As the psychedelic drug industry was getting off the ground, many investors were justifiably skeptical as to whether the industry could attract sufficient capital.

As we reach the end of 2020, those doubts have evaporated.

We’ve seen companies (public and private) close on several nine-figure financings.

We saw one company (MindMed) go to capital markets with new offerings three times in just the last quarter. Each financing was at a dramatically higher unit price (CAD$1.05 –> CAD$1.90 –> CAD$4.40) and each one was oversubscribed.

Indeed, virtually every new psychedelics private placement in the fourth quarter was oversubscribed, as institutions and high net-worth investors engaged in a feeding frenzy.

Psychedelic drug R&D:  A

Psychedelic Stock Watch is assigning the industry an “A” for its progress in psychedelic drug R&D in 2020. But many readers may see even that high grade as being too low.

As we end the year, one psychedelic drug clinical trial is moving into (final) Phase 3 testing. MAPS’ MDMA-assisted psychotherapy for the treatment of PTSD has commenced this stage of the clinical trials process – with early indications strongly pointing toward a successful result.

Based on earlier promising results (and an urgent need), the FDA has granted Breakthrough Therapy Designation to this research, further streamlining the clinical trial process.

Numerous other psychedelics-based clinical trials are at various stages of a Phase 2 trial.

Among the public companies beginning or engaged in Phase 2 clinical trials involving psychedelics are: Compass Pathways, MindMed Inc, Cybin Corp, and Mydecine Innovations Group. Indeed, MindMed itself has three drug R&D initiatives in or beginning Phase 2 trials.

Of equal importance are the clinical results emerging from these drug trials.

Compass Pathways’ Phase 2 clinical trial for treatment-resistant depression has also received Breakthrough Therapy Designation, due to the strong results from its own research.

We are currently in the midst of a Mental Health Crisis, with stress-related disorders like depression, addiction, anxiety and PTSD afflicting over 1 billion people globally. Much of the reason why this has become a crisis is the appalling standard of care for many of these conditions.

Addiction therapy is a revolving-door failure. Rehab, release, relapse, repeat.

Front-line drugs to treat depression (antidepressants) are dangerous and addictive. And their efficacy is little better than that of sugar pills. Roughly two-thirds of Americans exhibiting symptoms of depression don’t even seek treatment.

Meanwhile, clinical testing on psychedelics-based therapies is consistently yielding spectacular success rates for addiction, depression and PTSD.

MAPS’ MDMA-assisted psychotherapy for PTSD has been generating positive results for ~90% of patients being treated. Conversely, roughly two-thirds of U.S. veterans being treated for PTSD by the Department of Defense express dissatisfaction with the current standard of care.

The Department of Defense has become a major booster of psychedelic drug research – and has itself contributed $10s of millions for research funding.

Why no “A+” for psychedelic drug R&D in 2020?

One simple reason: no psychedelic drug completed the clinical trial process in 2020. But we could easily see this occur in 2021 – earning the sector an even higher letter-grade next year.

Media/public opinion: A+

Most psychedelic drugs are illegal, and have been strictly prohibited for ~50 years. Through nearly all of this time, the mainstream media has demonized any/all usage of these substances.

Why are we reminding readers of these facts?

Because if we look around today at public attitudes and what is being written in the media about these drugs, visitors from a distant planet would never guess that these drugs are still (mostly) illegal.

In the medical community, a Renaissance has taken place regarding psychedelics-based research. A long-and-growing list of physicians are banging the drum for the medicinal potential of these drugs – including many of the brightest minds in medicine.

See: The Psychedelics Revolution: It’s No Longer BAD To Feel GOOD

Among the general public, there are two parallel tracks of interest that are both seeing exponential increases in support:

  • Gaining access to psychedelic medicines to elevate the standard of care for many mental health disorders.
  • “Biohacking” with these substances (generally via microdosing) as a new health-and-wellness trend to significantly improve quality of life and/or career performance.

Despite 50 years of anti-psychedelics propaganda (by government and media) fears/phobias toward these drugs are rapidly dissipating.

Most surprising, however, has been the change in media attitudes and coverage of psychedelic drugs.

The anti-drug propaganda is gone. It has been replaced by in-depth, fact-based coverage of psychedelics and psychedelic drug R&D, with mainstream media coverage universally positive.

Psilocybin Sessions: Psychedelics could help people with addiction and anxiety (CBS News, August 2020)

We can no longer ignore the potential of psychedelic drugs to treat depression (The Guardian, June 2020)

Psychedelic Drugs Like LSD and Magic Mushrooms Linked to Transformative Experiences, Feeling Connected With Others (Newsweek, January 2020)

The mainstream media still regularly smears the (legal) cannabis industry with archaic propaganda that has been completely discredited. But these same large corporations have turned over the proverbial “new leaf” when it comes to how they cover psychedelic drugs.

In turn, the consistently positive optics being projected on psychedelics by the media can only have a beneficial effect on political and regulatory attitudes toward psychedelic drugs.

Regulatory thaw:  B

In 2020, the psychedelic drug industry has addressed – and essentially eliminated – investor doubts in several key areas. When it comes to stock performance, capital raising, drug R&D and public opinion, the psychedelic drug industry couldn’t look any stronger as 2020 comes to a close.

Yet one area of doubt remains: the decriminalization/legalization of these substances and subsequently creating a regulatory framework for these emerging drugs.

Considerable progress has been made this year.

Several U.S. cities have decriminalized psychedelic drugs. In the recent U.S. election, the state of Oregon not only broadly decriminalized psychedelic drugs, it has legalized psilocybin for medicinal use.

In Canada, progress began a little later but is moving even faster – much like we saw with cannabis legalization.

It started at the beginning of August, when Health Canada granted “medical exemptions” to allow medicinal psilocybin use for four terminally-ill patients.

Subsequently, Health Canada has expanded these medical exemptions for psilocybin use for patients. More importantly, it has granted several psychedelics therapists permission to personally use these substances to help refine treatment.

In the space of a few months, Health Canada has gone from being cautiously receptive toward the medicinal use of psilocybin to moving clearly and methodically to broaden medicinal usage in Canada.

One observer with a strong interest in these developments is Doug Drysdale, CEO of Cybin Corp. Cybin is one of the public companies that is well-advanced into formal clinical trials with its psilocybin-based R&D.

Drysdale estimates that psilocybin-based therapies will start to be approved (as they emerge from these clinical trials) in roughly a two-year time frame. And he sees psilocybin legalization (at least in Canada) as a real possibility over the same time-horizon.

While the psychedelic drug industry earns a solid “B” for regulatory progress in 2020, the sector is still at the beginning of a long road.

Better days ahead for psychedelic stocks

As good as 2020 was for the psychedelic drug industry, expectations for 2021 are even higher. The half-billion in fresh capital that was raised in roughly the last quarter of 2020 is sufficient to drive plenty of growth in this industry in the first half of 2021.

Major industry catalysts loom for early 2021.

More companies will be going public. New investment capital will continue to flood into the industry. Regulatory progress should accelerate. And several psychedelic drugs should get much closer to the drug approval finish line in 2021.

Also, two dimensions of the industry that were just starting to gain prominence in 2020 will be squarely in the spotlight for investors in 2021.

DISCLOSURE: The writer holds shares in MindMed Inc, Numinus Wellness, Cybin Corp and Mind Cure Health. Mind Cure Health is a client of Psychedelic Stock Watch.

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TRYP THERAPEUTICS ANNOUNCES GRANT OF STOCK OPTIONS

LA JOLLA, Calif., Dec. 23, 2020 /CNW/ – Tryp Therapeutics Inc. (“Tryp” or the “Company“) (CSE: TRYP) announces the grant of 400,000 stock option (the “Options“) to certain directors of the Company.  The Options have an exercise price of $0.75 per share, are exercisable until December 22, 2030 and will be governed in accordance with the terms of the Company’s stock option plan.

About Tryp Therapeutics:

Tryp Therapeutics is a pharmaceutical company focused on developing compounds with known activity and/or safety profiles for the treatment of rare diseases and other diseases with high unmet medical needs.  Tryp’s psilocybin-for-neuropsychiatric disorders, or PFN™, program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of certain neuropsychiatric-based disorders.  Tryp’s lead PFN™ drug candidate is TRP-8802 for the treatment of fibromyalgia, a chronic pain syndrome estimated to affect more than 5 million people in the United States.

In addition to its PFN™ Program, Tryp is developing TRP-1001, an oral formulation of razoxane for the treatment of soft tissue sarcoma.  Soft tissue sarcomas are a rare and diverse group of tumors that account for about 1% of all cancers in adults and 7% in children.  Based on the prevalence of soft tissue sarcomas in the United States, Tryp believes it is a rare disease and that TRP-1001 should qualify for Orphan Drug status.

Forward-Looking Information

Certain information in this news release, constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE Tryp Therapeutics Inc.

For further information:

Tryp Therapeutics Inc.

James Kuo, MD, Chief Executive Officer

Contact us at:

T: 1-833-811-TRYP (8797)

E: investors@tryptherapeutics.com

W: www.tryptherapeutics.com

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Revive Therapeutics Provides Update on FDA Phase 3 Clinical Trial for Bucillamine in COVID-19 with Plans on Emergency Use Access

TORONTO, Dec. 23, 2020 – Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19. The Company is on pace to meet its enrollment goals for the Independent Data and Safety Monitoring Board (“DSMB”) to review the safety and efficacy data from the 210 patients as part of the first interim analysis of patients treated and followed up for 28 days after randomization.

The Company’s clinical safety team has actively monitored the ongoing interim data of patients and found there have been no safety concerns and no severe adverse events during the interim analysis enrollment period. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, there have been no serious safety concerns that required the DSMB to be notified.

There are currently nine clinical sites participating in the Study with an additional six more clinical sites joining the Study in January to satisfy the overall enrollment goal of up to 1,000 patients.

Further to the DSMB review and recommendations on the interim analysis periods, the Company aims to file for an Emergency Use Authorization (“EUA”) of Bucillamine for mild to moderate COVID-19 with the FDA. In November 2020, the FDA also issued an EUA to permit the emergency use of bamlanivimab (manufacturer Eli Lilly) and the combination of casirivimab and imdevimab (manufacturer Regeneron) for the treatment of mild to moderate COVID-19.

A recently published study, titled “Thiol-based drugs decrease binding of SARS-CoV-2 spike protein to its receptor and inhibit SARS-CoV-2 cell entry” from the University of California San Francisco, shows that thiol-based drugs, like Bucillamine, decrease the binding of SARS-CoV-2 spike protein to its receptor, decrease the entry efficiency of SARS-CoV-2 spike pseudotyped virus, and inhibit SARS-CoV-2 live virus infection. The findings uncovered a vulnerability of SARS-CoV-2 to thiol-based drugs and provide rationale to test thiol-based drugs as novel treatments for COVID-19. Bucillamine, a cysteine derivative with two thiol groups, has been shown to be 16 times more potent as a thiol donor in vivo than N-acetyl-cysteine. Bucillamine has a well-known safety profile with over 30 years of use as a treatment for rheumatoid arthritis in Japan and South Korea.

“We are pleased with the progress we have made to date in our Phase 3 clinical trial with the potential for Bucillamine to become the first orally administered drug to obtain emergency use access from the FDA and also potentially providing another therapeutic option for healthcare professionals to use in treating mild to moderate COVID-19,” said Michael Frank, CEO of Revive.

About the Phase 3 Clinical Trial (ClinicalTrials.gov Identifier: NCT04504734)

The Phase 3 confirmatory clinical trial titled, “A Multi-Center, Randomized, Double-Blind, Placebo-Controlled Study of Bucillamine in Patients with Mild-Moderate COVID-19”, will enroll up to 1,000 patients that will be randomized 1:1:1 to receive Bucillamine 100 mg three times a day (“TID”), Bucillamine 200 mg TID or placebo TID for up to 14 days. The primary objective is to compare the frequency of hospitalization or death in patients with mild-moderate COVID-19 receiving Bucillamine therapy with those receiving placebo. The primary endpoint is the proportion of patients meeting a composite endpoint of hospitalization or death from the time of the first dose through Day 28 following randomization. Efficacy will be assessed by comparing clinical outcomes (death or hospitalization), disease severity using the 8-category NIAID COVID ordinal scale, supplemental oxygen use, and progression of COVID‑19 between patients receiving standard-of-care plus Bucillamine (high dose and/or low dose) and patients receiving standard-of-care plus placebo. Safety will be assessed by reported pre-treatment adverse events and treatment-emergent adverse events (including serious adverse events and adverse events of special interest), laboratory values (hematology and serum chemistry), vital signs (heart rate, respiratory rate, and temperature), and peripheral oxygen saturation.

An interim analysis will be performed by an Independent Data and Safety Monitoring Board (“DSMB”) after 210 patients have been treated and followed up for 28 days after randomization. The DSMB is independent from the Company, the investigators of the Study, or anyone involved in the clinical care of the Study subjects and oversees the safety of participating patients by reviewing the Study’s accumulating safety and efficacy data for Bucillamine. The better performing Bucillamine dose at the interim analysis will be selected and patients will then be randomized 2:1 to the selected Bucillamine dose or placebo. Additional interim analyses will be performed after 400, 600, and 800 patients have reached this same post-treatment timepoint. The independent DSMB will actively monitor interim data for the ongoing safety of patients and will recommend continuation, stopping or changes to the conduct of the study based on the interim analysis reports.

Scientific Rationale of Bucillamine for COVID-19

Preclinical and clinical studies have demonstrated that reactive oxygen species contribute to the destruction and programmed cell death of pulmonary epithelial cells.3 N-acetyl-cysteine (NAC) has been shown to significantly attenuate clinical symptoms in respiratory viral infections in animals and humans, primarily via donation of thiols to increase antioxidant activity of cellular glutathione.4-7 In addition, it was found that thiol-based drugs decrease binding of SARS-CoV-2 spike protein to its receptor, decrease the entry efficiency of SARS-CoV-2 spike pseudotyped virus, and inhibit SARS-CoV-2 live virus infection.8 Bucillamine (N-(mercapto-2-methylpropionyl)-l-cysteine) has a well-known safety profile and is prescribed in the treatment of rheumatoid arthritis in Japan and South Korea for over 30 years. Bucillamine, a cysteine derivative with two thiol groups, has been shown to be 16 times more potent as a thiol donor in vivo than NAC.2 The drug is non-toxic with high cellular permeability. The basis of the clinical study will analyze if Bucillamine has the potential, via increasing glutathione activity and other antioxidant and anti-inflammatory activity, to lessen the destructive consequences of SARS-CoV2 infection in the lungs and attenuate the clinical course of COVID-19.

The Company is not making any express or implied claims that its product has the ability to eliminate or cure COVID-19 (SARS-2 Coronavirus) at this time.

About Revive Therapeutics Ltd.

Revive is a life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders, and it is prioritizing drug development efforts to take advantage of several regulatory incentives awarded by the FDA such as Orphan Drug, Fast Track, Breakthrough Therapy and Rare Pediatric Disease designations. Currently, the Company is exploring the use of Bucillamine for the potential treatment of infectious diseases, with an initial focus on severe influenza and COVID-19. With its recent acquisition of Psilocin Pharma Corp., Revive is advancing the development of Psilocybin-based therapeutics in various diseases and disorders. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory diseases and the company was granted FDA orphan drug status designation for the use of Cannabidiol (CBD) to treat autoimmune hepatitis (liver disease) and to treat ischemia and reperfusion injury from organ transplantation. For more information, visit www.ReviveThera.com.

For more information, please contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: 1 888 901 0036
Email: mfrank@revivethera.com
Website: www.revivethera.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Offering, including the intended use of proceeds. Forward-looking information is based on reasonable assumptions that have been made by Revive at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Revive is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Reference is made to the risk factors disclosed under the heading “Risk Factors” in the Company’s annual MD&A for the fiscal year ended June 30, 2020, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com.

References

1. H Ibrahim et al, Therapeutic blockade of inflammation in severe COVID-19 infection with intravenous N-acetylcysteine., Clinical Immunology. Volume 219, October 2020, 108544.

2. LD Horwitz, Bucillamine: a potent thiol donor with multiple clinical applications, Cardiovasc Drug Rev. 2003 Summer;21(2):77-90).

3. S Ye et al, Inhibition of Reactive Oxygen Species Production Ameliorates Inflammation Induced by Influenza A Viruses via Upregulation of SOCS1 and SOCS3., American Society for Microbiology. 2015 Mar;89(5):2672-2683).

4. L. Carati et al, Attenuation of influenza-like symptomatology and improvement of cell-mediated immunity with long-term N-acetylcysteine treatment., Eur Respir J. 1997 Jul;10(7):1535-41).

5. M Mata et al, N-acetyl-L-cysteine (NAC) inhibit mucin synthesis and pro-inflammatory mediators in alveolar type II epithelial cells infected with influenza virus A and B and with respiratory syncytial virus (RSV)., Biochem Pharmacol. 2011 Sep;82(5):548-55.

6. D Ungheri et al, Protective effect of n-acetylcysteine in a model of influenza infection in mice., Int J Immunopathol Pharmacol. 2000 Sep-Dec;13(3):123-128.

7. RH Zhang et al, N-acetyl-l-cystine (NAC) protects against H9N2 swine influenza virus-induced acute lung injury., Int Immunopharmacol. 2014 Sep;22(1):1-8).

8. K Khanna, et al, Binding of SARS-CoV-2 spike protein to ACE2 is disabled by thiol-based drugs; evidence from in vitro SARS-CoV-2 infection studies., bioRxiv. 2020 Dec 8.

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Wuhan General Group Launches Hemp Product Research & Development Division

CAPE TOWN, SA / ACCESSWIRE / December 23, 2020 / WUHAN GENERAL GROUP, INC. (WUHN) (“Wuhan” or the “Company”), a bioceutical company focused on alternative plant-based cannabinoids and psilocybin medical research is pleased to announce the following corporate update:

The Company is pleased to inform its shareholders that it is positioning itself in the rapidly expanding hemp industry by launching the M2BIO Hemp Product Research and Development Division to be based in Cape Town, South Africa.

The M2BIO Hemp Division will be led by Willem Jonker, COO of Wuhan General Group. He will oversee a team of remarkable engineers spanning multiple engineering disciplines. “Hemp is destined to have a colossal impact on the world in so many positive ways. We are keyed up to be at the forefront of research into how to turn stalks into products. This is the next logical phase in our quest to bring the world the benefits of the miracle plant.” said Willem Jonker, COO of Wuhan General Group.

Wuhan General Group CEO Jeff Robinson added: “It is our responsibility to do our part in helping the environment and the safety of future generations by exploring sustainable alternatives and acting responsibly. The packaging possibilities and opportunities of hemp are absolutely awesome. Our first new team members are locked and loaded!”

About Wuhan General Group, Inc./ M2Bio Sciences, Inc

Wuhan General Group, Inc. (DBA M2bio Sciences), through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company focused on alternative plant-based cannabinoids and psilocybin medical research that develops and commercializes a range of CBD and mushrooms-based products under Dr. AnnaRx™, Medspresso™ and Handcrafted Delights™ brands. In addition, our research and clinical trials with psilocybin are aimed at new therapies that will help patients who suffer from alcohol addiction, mental illness and cardiovascular diseases. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research and emerging technologies. The Company is traded on the Over-the-Counter Bulletin Board of NASDAQ under the trading symbol “WUHN”.

For further information:

Publicly traded company (OTC Pink: WUHN)
Website: www.m2bio.co
E-mail:info@m2bio.co
Follow us on Twitter: https://twitter.com/m2bio
Follow us on Facebook: http://www.facebook.com/m2bio

Forward-Looking Statements:

Safe Harbour Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.

SOURCE:  Wuhan General Group, Inc./M2Bio Sciences, Inc.

View source version on accesswire.com:
https://www.accesswire.com/622164/Wuhan-General-Group-Launches-Hemp-Product-Research-Development-Division