Mindset Pharma Selects Treatment-Resistant Depression and End of Life Cancer Angst as Indications for MSP-1014, its Novel Psilocybin-Inspired Clinical Candidate

Mindset Pharma Selects Treatment-Resistant Depression and End of Life Cancer Angst as Indications for MSP-1014, its Novel Psilocybin-Inspired Clinical Candidate

TORONTO, Sept. 09, 2021 (GLOBE NEWSWIRE) — Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company”), a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet medical needs, today announced that it has selected Treatment-Resistant Depression (“TRD”) and End of Life Angst as initial target indications for its lead clinical candidate, MSP-1014. MSP-1014 is a novel patent-pending drug candidate that, based on preclinical data, shows potential to be a safer second generation psilocybin-like therapy with decreased potential for side effects.

“Psilocybin has demonstrated encouraging efficacy in treating TRD and End of Life Cancer Angst in a number of clinical studies and we believe our novel drug candidate, MSP-1014, represents a safer and more scalable evolution to its psilocybin predecessor,” said James Lanthier, CEO of Mindset. “TRD represents a large and untreated population with ⅓ of major depressive disorder sufferers resistant to presently available treatments1, while End of Life Angst is a major cause of depression and anxiety with limited treatment options. We see an opportunity to bridge a significant treatment gap with our next generation medicine and plan to advance MSP-1014, as well as other candidates across our library of patent-pending compounds, through the regulatory process as quickly as possible.”

“In a head-to-head comparison with psilocybin, MSP-1014 demonstrated superior head twitch response and minimal change in core body temperature, which suggests our compound potentially produces a greater hallucinogenic response with an improved safety profile,” stated Joseph Araujo, Chief Scientific Officer of Mindset. “Furthermore, MSP-1014 leverages Mindset’s proprietary psilocybin synthesis process, enabling scale-up efficiency in manufacturing and positioning us well for progressing our novel drug candidate through to clinical trials.”

To watch a video of Mindset’s CEO discussing the announcement in greater detail, please visit: https://youtu.be/O1NZe05u34Y.

1Jaffe, D.H., Rive, B. & Denee, T.R. The humanistic and economic burden of treatment-resistant depression in Europe: a cross-sectional study. BMC Psychiatry 19, 247 (2019).

For more information, please contact:

Investor Contact:
Allison Soss/Tim Regan
KCSA Strategic Communications
Email: MindSet@kcsa.com
Phone: 212-896-1267/ 347-487-6788

Company Contact:
James Lanthier, CEO
Email: jlanthier@mindsetpharma.com

Jason Atkinson, VP, Corporate Development
Email: jatkinson@mindsetpharma.com
Phone: 416-479-4094

About Mindset Pharma Inc.
Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin as well as its own proprietary compounds.

For further information on Mindset, please visit our website at www.mindsetpharma.com.

Forward-Looking Information

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Additional information regarding risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

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

MINDCURE to Present at the H.C. Wainwright 23rd Annual Global Investment Conference

MINDCURE to Present at the H.C. Wainwright 23rd Annual Global Investment Conference

VANCOUVER, BC, Sept. 8, 2021 /CNW/ – Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“MINDCURE” or the “Company”), a leader in advanced proprietary technology and research in psychedelics, today announced that Kelsey Ramsden, President & CEO of MINDCURE, will present at the H.C. Wainwright 23rd Annual Global Investment Conference being held from September 13-15, 2021.

Interested parties can access the MINDCURE presentation beginning on September 13, 2021, at 7:00 A.M. Eastern Time via the following webcast link, which will be live for 90 days: https://journey.ct.events/view/620edf4c-297c-4ca2-8c6f-7325ab316aa8

About Mind Cure Health Inc.
MINDCURE is a life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health. The company is developing digital therapeutics technology and researching psychedelic compounds to support access to safe, evidence-based psychedelic-assisted therapies globally. Learn more at mindcure.com, and follow us on LinkedInFacebookTwitter, and Instagram.

On Behalf of the Board of Directors
Kelsey Ramsden, President & CEO
Phone: 1-888-593-8995                

Forward-Looking Information
Forward-looking information is based on a number of key expectations and assumptions made by management of MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE’s business; there will be a demand for MINDCURE’s products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that iSTRYM will be developed, optimized and operate as contemplated within the psychedelics industry; that the Company will be effective in obtaining the patents applied for synthesizing ibogaine, or synthesizing ibogaine, or developing synthesized ibogaine for research, medical or commercial use; that MINDCURE will advance wellness worldwide; that iSTRYM will be brought to commercial deployment in the near term or otherwise or that it will reduce symptoms, improve quality of life, or support transformation and healing, or that the deployment may not occur at the scale or within the time frame contemplated.

Although MINDCURE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking information presented, there may be other factors that cause results, performance or achievements to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements as no forward-looking information 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 MINDCURE does not undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.

For further information:

MINDCURE Investor Relations

investors@mindcure.com

1-888-593-8995

Mindset to Participate in Upcoming Investor Conferences in September 2021

Mindset to Participate in Upcoming Investor Conferences in September 2021

TORONTO, September 2, 2021 — Mindset Pharma Inc.(CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company”), a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet medical needs, today announced that James Lanthier, CEO of Mindset, will participate in three upcoming investor conferences:

  •  H.C. Wainwright 23rd Annual Global Investment Conference to be held virtually on September 13-15, 2021. Mr. Lanthier’s corporate presentation will be available on-demand starting Monday, September 13th at 7:00am ET.
  • Oppenheimer Fall Healthcare Life Sciences & MedTech Summit to be held virtually on September 20-23, 2021. Mr. Lanthier will present on Tuesday, September 21stat 2:05pm ET. To attend, please click here
  • Maxim’s Advances in Mental Health Conference to be held virtually on Wednesday, September 22,2021 from 9:00am – 3:00pm ET. Mr. Lanthier will participate in the Next-Gen NCEs panel as part of the Disruptors in the Mental Health Space virtual panel series.

“The pace of advancements in Mindset’s new drug programs has accelerated and we would like to thank the conference organizers for giving us the opportunity to update the investment community on our substantial scientific progress,” said James Lanthier, CEO of Mindset.

For more information about the conferences, or to schedule a one-on-one meeting with Mindset management, please contact your appropriate representative directly, or send an email to H.C. Wainwright at lk@hcwco.com, Oppenheimer at opcoconferences@opco.com, Maxim at jthompson@maximgrp.com, or KCSA Strategic Communications at Mindset@kcsa.com.

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin as well as its own proprietary compounds.

For further information on Mindset, please visit our website at www.mindsetpharma.com.

For more information, please contact:

Investor Contact:

Allison Soss/Tim Regan

KCSA Strategic Communications

Email: MindSet@kcsa.com

Phone: 212-896-1267/ 347-487-6788

Company Contact:

James Lanthier, CEO

Email: jlanthier@mindsetpharma.com

Jason Atkinson, VP, Corporate Development

Email: jatkinson@mindsetpharma.com

Phone: 416-479-4094

Forward-Looking Information

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized bywords such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Additional information regarding risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

MINDCURE Announces Financial Results for Fiscal 2021

MINDCURE Announces Financial Results for Fiscal 2021

VANCOUVER, BC, August 31, 2021 – Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“MINDCURE” or the “Company”), a leader in advanced proprietary technology and research in psychedelics, today announced its financial results for the three and twelve months ended May 31, 2021. All amounts are stated in Canadian dollars unless otherwise indicated.  

Business Highlights

  • Commenced the development of iSTRYM, the Company’s digital therapeutics tool, a first-of-its-kind software application that will optimize the healing journey for both patients and clinicians — before, during, and after therapy sessions;
  • Submitted a provisional patent application with the United States Patent and Trademark Office to cover various aspects of iSTRYM;
  • Commenced the first stage of manufacturing synthetic ibogaine;
  • Subsequent to year end, completed full chemical synthesis of ibogaine and filed two provisional patent applications in association with synthesis routes;
  • Made several additions to its senior management team and board of directors and retained a number of advisors;
  • Completed a strategic equity investment in ATMA Journey Centers Inc.; and,
  • Subsequent to year end, completed a strategic equity investment in Awakn Life Sciences Inc.

“MINDCURE’s first full year of operations was full of outstanding accomplishments and highlighted by the successful completion of several milestones,” said Kelsey Ramsden, President & CEO of MINDCURE. “The strategy and infrastructure we have put in place over the past year positions the company well to continue the development and release of our digital therapeutics platform, iSTRYM, and to continue our research for psychedelics. The company’s achievements could not have happened without the hard work and commitment of the entire MINDCURE team, our Board of Directors and our advisors. I would like to especially thank our investors for seeing and supporting the vision and execution at MINDCURE.”

Financial Highlights

  • Raised net proceeds of $27.2 million through the issuances of common shares and the exercise of warrants and options;
  • Cash and cash equivalents totalled $18.3 million as of May 31, 2021; and
  • Net loss was $10.2 million for the year ended May 31, 2021, comprised of non-cash operating expenses of $2.0 million and cash operating expenses of $8.1 million.

A copy of the Company’s audited consolidated financial statements for the year ended May 31, 2021, and the related management’s discussion and analysis are available under the Company’s profile on SEDAR at www.sedar.com.

About Mind Cure Health Inc.

MINDCURE is a life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health. The company is developing digital therapeutics technology and researching psychedelic compounds to support access to safe, evidence-based psychedelic-assisted therapies globally. Learn more at mindcure.com, and follow us on LinkedInFacebookTwitter, and Instagram.

On Behalf of the Board of Directors

Kelsey Ramsden, President & CEO

Phone: 1-888-593-8995

Forward-Looking Information

Forward-looking information is based on a number of key expectations and assumptions made by management of MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE’s business; there will be a demand for MINDCURE’s products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that iSTRYM will be developed, optimized and operate as contemplated within the psychedelics industry; that the Company will be effective in obtaining the patents applied for synthesizing ibogaine, or synthesizing ibogaine, or developing synthesized ibogaine for research, medical or commercial use; that MINDCURE will advance wellness worldwide; that iSTRYM will be brought to commercial deployment in the near term or otherwise or that it will reduce symptoms, improve quality of life, or support transformation and healing, or that the deployment may not occur at the scale or within the time frame contemplated.

Although MINDCURE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking information presented, there may be other factors that cause results, performance or achievements to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements as no forward-looking information 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 MINDCURE does not undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.

For further information:

MINDCURE Investor Relations

investors@mindcure.com

1-888-593-8995

Optimi Health Appoints New Chief Executive Officer

Optimi Health Appoints New Chief Executive Officer

VANCOUVER, British Columbia, August 31, 2021 — Optimi Health Corp. (CSE: OPTI) (OTCQB: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, is pleased to announce that William (Bill) J. Ciprick has been appointed as the Company’s Chief Executive Officer, effective as of September 7, 2021.

Mr. Ciprick brings over 30 years of global experience across a wide array of industries in multifunctional organizations ranging from Fortune 500 corporations to small and medium-sized Canadian businesses. Throughout his career, he has developed a broad set of skills with a focus on growth strategies, sales, marketing, organizational development, mergers, acquisitions, and turnarounds. He recently served as Senior Vice President at BDC Advisory Services. In this role he was responsible for leading BDC’s High-Impact Firm team, as well as the successful execution of related programs. Previously, Mr. Ciprick was President and Executive Consultant with ATG Consulting, focusing on conducting organizational assessments and redesigns, and on developing and supporting the development and implementation of strategic plans. In one mandate, he stepped in as Acting Executive Vice President of Operations for a mid-sized firm specializing in roofing and building envelope products, driving a significant increase in profitability and overseeing the disposal of assets to help recapitalize the company. Prior to ATG, Mr. Ciprick was Vice President of Strategy and Business Development for SMART Technologies, where he developed and deployed the first strategic planning process and delivered the largest acquisition in the company’s history. He also spent more than 16 years at Procter & Gamble, holding management positions including Senior Vice President, Sales for the P&G North America Beauty division. Mr. Ciprick holds a Bachelor of Arts degree in Economics from the University of British Columbia.

In agreeing to join Optimi as its Chief Executive Officer, Bill Ciprick commented, “ I am delighted and excited by the Optimi opportunity. The Company is rapidly moving beyond their initial start-up and build-out into commercialization of functional mushroom products concurrent with their advanced research and studies aimed at the increasingly important mental health & wellness field. The commitment the entire Optimi team brings to achieving the highest industry standards for the scientific investigation and development of an all-natural mushroom product platform is in my opinion second-to-none, and represents an attractive business proposition. I have found the business to be structurally sound and ready to grow – which is a testament to their initial start-up approach. I look forward to helping build Optimi into a sector-leading commercial enterprise.”

Outgoing CEO Mike Stier advised, “The work we undertook since inception, and ultimately with our public listing, has provided the initial market visibility and financing to enable healthy progress and created a detailed roadmap for future growth. Now is the time for a steady hand focussed on commercialization and product development. Bill has the leadership experience and background we believe will guide the Company into the next phase of development. With leaders like Bill participating in the sector, I look forward to a bright future for Optimi Health and the industry as a whole.”

Mr. Ciprick is replacing Mike Stier as Chief Executive Officer of the Company. Optimi would like to thank Mr. Stier for his numerous contributions as Chief Executive Officer and is pleased to announce that he will remain as a director of the company.

In connection with his appointment, the Company has granted Mr. Ciprick an aggregate of 73,077 common shares in the capital of the Company and issued 1,000,000 incentive stock options to Mr. Ciprick. The options were granted under the Company’s Equity Incentive Plan and each stock option entitles the holder to acquire one common share in the capital of the Company at an exercise price of $1.50 per share until August 31, 2026. One quarter of the options will vest immediately and the remaining options will vest in three equal installments on the first, second and third anniversary of the date hereof.

ABOUT OPTIMI (CSE: OPTI) (OTC: OPTHF) (FRA: 8BN)
Optimi is developing a sophisticated mushroom brand that focuses on the health and wellness markets. With a vertically integrated approach, Optimi intends to cultivate, extract, process and distribute high quality functional mushroom products at its two facilities comprising a total of 20,000 square feet nearing completion in Princeton, British Columbia. To fully investigate the science of mushrooms, the Company has received a research exemption under Health Canada Food and Drug Regulations (FDR) for the use of Psilocybin and Psilocin for scientific purposes via its wholly owned subsidiary Optimi Labs Inc. Optimi has also applied for a dealer’s license under Canada’s Narcotic Control Regulations governing possession, distribution, sale, laboratory analysis of and research and development of Psilocybin and Psilocin formulations. Optimi is committed to expert cultivation and quality production subject to and in accordance with the terms of all applicable laws and governing regulations to ensure safe, superior Canadian fungi production. Find out more at: https://optimihealth.ca/.

FOR FURTHER INFORMATION CONTACT:
Investor Relations
Email: investors@optimihealth.ca
Phone: +1 (778) 930-1321
Web: https://optimihealth.ca/

FORWARDLOOKING STATEMENTS
This news release contains forward-looking statements, including regarding the development of the Company’s business and management team. These forward-looking statements are provided as of the date of this news release, and reflect predictions, expectations or beliefs regarding future events based information currently available to the Company. In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including that general economic and business conditions will not change in a materially adverse manner. Although management considers these assumptions to be reasonable based on information available to them, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions on which they are based do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the expectations expressed in them. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur, but specifically include, without limitation, risks relating to: general market conditions and the additional risks described in the Final Shelf Prospectus and the Company’s Annual Information Form, and other disclosure documents filed by the Company on SEDAR. The foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on behalf of the Company, except as required by law.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Mindset Pharma Announces its Next Generation Novel 5-MeO-DMT Psychedelic Analogs Demonstrate a Significantly Improved Safety Profile in Preclinical Results

Mindset Pharma Announces its Next Generation Novel 5-MeO-DMT Psychedelic Analogs Demonstrate a Significantly Improved Safety Profile in Preclinical Results

Toronto, Ontario– August 31, 2021 – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF)(“Mindset” or the “Company”), a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet medical needs, today announced that compounds from its Family 4, comprised of DMT/5-MeO-DMT inspired analogs, have demonstrated a significant decrease in serotonergic toxicity, which can cause a range of mild to life-threatening symptoms, in head-to-head preclinical comparisons. Furthermore, the results reaffirm the Company’s previous findings that its Family 4 drug candidates demonstrated superior efficacy compared to 5-MeO-DMT.

“DMT and 5-MeO-DMT both show promise as medicinal psychedelics due to their short duration of action and high potency. However, our studies suggest that serotonergic toxicity could represent a considerable health risk as patients are more broadly treated with psychedelics, potentially leading to high blood pressure, tremors, delirium and a range of other symptoms,” said James Lanthier, CEO of Mindset. “Our exciting preclinical results suggest that our next generation drug candidates have the potential to offer a safer and more convenient solution for clinic-based therapy.”

“In-vivo models confirmed potential safety concerns associated with serotonergic toxicity of 5-MeO-DMT,indicated by a higher number of instances of 5-HT syndrome compared to some of Mindset’s NCE compounds,” stated Joseph Araujo, Chief Scientific Officer of Mindset. “These results indicate the potential for 5-MeO-DMT to induce serotonin syndrome, which is a consequence of excess serotonin (5-HT) agonism and can lead to serious health complications. However, some of Mindset’s drug candidates showed no signs of inducing 5-HT syndrome, suggesting a significantly improved safety profile compared to 5-MeO-DMT. Mindset’s Family 4 compounds can potentially be developed with marked improvements in safety, efficacy, and duration of action compared to 5-MeO-DMT, making them more suitable for a wider range of indications.”

Mindset’s Family 4compounds are DMT and 5-MeO-DMT inspired drug candidates that offer a broad range of pharmacological diversity suitable for in-clinic settings. The Company has run a battery of specialized in-vitro and in-vivo tests on its patent-pending novel compounds to select the optimal psychedelic drug candidates for progressing towards human clinical trials.

For more information, please contact:

Investor Contact:

Allison Soss/Tim Regan

KCSA Strategic Communications

Email: MindSet@kcsa.com

Phone: 212-896-1267/347-487-6788

 

Company Contact:

James Lanthier, CEO

Email: jlanthier@mindsetpharma.com

Jason Atkinson, VP,Corporate Development

Email: jatkinson@mindsetpharma.com

Phone: 416-479-4094

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin as well as its own proprietary compounds.

For further information on Mindset, please visit our website at www.mindsetpharma.com.

Forward-Looking Information

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Additional information regarding risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

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

Braxia Scientific Reports First Quarter 2022 Financial Results; Company Achieves 80% Revenue Growth from Expanding Clinic Patient Base

Braxia Scientific Reports First Quarter 2022 Financial Results; Company Achieves 80% Revenue Growth from Expanding Clinic Patient Base

  • Revenue from four Canadian clinics increased 80.3% to $407,075 year-over-year
  • Exceeding monthly IV Ketamine infusion targets, ramping up infusions at new Montreal clinic
  • Advancing three funded clinical trials through Braxia Scientific’s network of clinics, including a Ketamine trial for Bipolar Depression, a Ketamine trial to rapidly reduce suicidality, and the first multiple-dose psilocybin trial to combat treatment-resistant depression

TORONTO, ONTARIO Aug. 30, 2021 – Braxia Scientific Corp. (“Braxia Scientific,” or the “Company”), (CSE: BRAX) (OTC: BRAXF) (FWB: 496), a medical research company with clinics providing innovative ketamine treatments for persons with depression and related disorders, today announced the filing of its fiscal first-quarter results for the three-month period ending June 30, 2021. Complete financial statements along with related management discussion and analysis can be found in the System for Electronic Document Analysis and Retrieval (SEDAR), the electronic filing system for the disclosure documents of issuers across Canada, at www.SEDAR.com.

With its leading researchers and experienced implementation team, Braxia Scientific continues to focus on its three strategic priorities: (i) expand its footprint of multidisciplinary clinics providing IV Ketamine for mental health disorders, (ii) identify new, IP-capable ketamine and psychedelic derivatives, as well as novel delivery systems, and to capitalize on new formulations by implementing them within Braxia Health’s clinical settings, and (iii) train new clinicians through the Braxia Institute to administer psychedelic-assisted therapy based on the International Guidelines published by Braxia Scientific Leadership.

Through its vertically integrated model, Braxia Scientific is differentiated by way of its capability to achieve a shortened research and development timeline that, along with the track record and relationships already established by the Company’s leadership, will enable partnerships with large pharmaceutical companies.

“As one of very few clinics offering IV Ketamine therapy in Canada since 2018, and the first private IV Ketamine clinic in Quebec, we have set the standard in care through our protocols and team of psychiatrists and nurses. As a result, we are pleased to be accepting an increasing number of referrals for patients with depression in need of rapid-acting and effective treatments,” said Dr. Roger McIntyre, CEO of Braxia Scientific.

“In addition to our clinics, we are executing on our strategy to test out innovative formulations and delivery methods. We are working to achieve key milestone objectives such as demonstrating the proof of mechanism, and that they actually affect the brain and attenuate depression – which has a one- to two-year runway.”

“We are in discussions with major drug manufacturers as to how we can move the needle for ketamine and psychedelic derivatives, with a view to refining our therapeutic research priorities in developing new products that could be ultimately acquired by large pharma.”

Recent Operational Highlights

Increasing Patient Volume: Braxia Scientific, through its four multidisciplinary, community-based Canadian clinics, operating as Braxia Health, continued to see increased patient volume, exceeding its IV ketamine infusion targets every month since January 2021. These results partially reflect increased treatments from its newest clinic in Montreal, which has ramped up operations since the Company, in conjunction with its joint venture partner, Neurotherapy Montreal, successfully opened March 31, 2021. This new location, which is the first to offer novel Ketamine therapy, including intravenous therapy, to patients in a private clinical setting in Quebec, required eight (8) weeks, from initial resource deployment to the first patient visit, to become operational, including all necessary education and training.

Braxia Health’s clinical operations also benefited from several other key accomplishments in the quarter. The Company successfully brought on several more psychiatrists, nurses, family doctors and an anesthesiologist; optimized the clinical intake process with new software, allowing doctors to see more patients and provide better care; established direct billing practices with a major Canadian health insurer; and increased marketing initiatives and engagement with psychiatrists across Ontario about Braxia Health clinics and offerings.

Funded Clinical Trials, Leading Research and Development: Supported by its network of clinics, Braxia Scientific’s world-leading scientific research team is advancing multiple research and development studies and conducting clinical trials with IV Ketamine, Ketamine derivatives and other psychedelic drugs.

In August 2021, the Company announced it would commence a landmark clinical trial to conduct Canada’s first multiple-dose psilocybin study for treatment-resistant depression (TRD). Whereas most other TRD studies limit participation to patients that have not found relief from a maximum of five other potential remedies, Braxia Scientific’s research will not have an upper limit, and will even include patients that have endured dozens of unsuccessful medical trials, including ketamine and electroconvulsive therapy.

The Company is confident that the study will demonstrate that the Company can effectively conduct a randomized controlled trial using psychedelic-assisted therapy. This will enable the Company to build the infrastructure for future studies and future clinical care, while also compiling efficacy data and providing the opportunity to evaluate the therapist training program launched at the end of June 2021.

This program run by the Braxia Institute, the Company’s training centre focused on advancing psychiatric clinical practice and health services of ketamine and psychedelic treatment therapy, has already cultivated a multi-disciplinary group of 20 therapists from diverse psychiatry and psychotherapy backgrounds to implement safe and effective psilocybin-assisted therapy for patients with depression.

In June 2021, the Company announced that Chief Medical and Scientific Officer Dr. Joshua Rosenblat will initiate a first-of-its-kind ketamine clinical trial to treat bipolar depression. The fully funded study represents the largest registered trial of its kind in the world, and will investigate the use, safety and efficacy of repeated doses of IV ketamine in patients with bipolar depression. This trial will enable Braxia-led research teams to further advance studies of IV ketamine to support its approval as a safe, effective and rapid-acting alternative treatment for patients with bipolar depression.

Braxia Scientific Researchers Leading Innovation and Education

Braxia Scientific’s research and development team continued to execute on several research initiatives during the quarter, achieving several key milestones, including completing a study evaluating genetic predictors of how patients may respond to ketamine, as well as continuing to develop a new topical ketamine formulation and intranasal ketamine product.

The Company was pleased to announce the publication of the International Expert Opinion and Implementation Guidance (the “Guidelines”) for the clinical use of rapid-acting Ketamine and Esketamine for treatment-resistant depression (TRD) in the American Journal of Psychiatry. The Guidelines were developed by Dr. McIntyre and Dr. Rosenblat, along with an international group of 26 medical experts across five continents, establishing Braxia Scientific as an international leader in the rapidly evolving industry of Ketamine, Esketamine and rapid-acting antidepressants.

The Company also launched the Braxia Institute, a training centre focused on advancing psychiatric clinical practice and health services of ketamine and psychedelic treatment therapy for people with treatment-resistant depression and other possible mental health disorders. Through its research-backed training programs, the Braxia Institute is focused on advancing the knowledge base of psychiatrists, physicians and other health-care professionals globally, closing the extraordinary gap between clinical practice groups around the world and the protocols, competencies and best practices identified through peer-reviewed published research.

The Braxia Institute opened enrollment to develop, train, and support a new generation of qualified, independent medical physicians, psychologists, and psychotherapists to implement safe and effective psilocybin-assisted therapy for patients with depression. The therapists will participate in the provision of psychotherapy in upcoming clinical trials at Braxia Health clinics, evaluating the safety and efficacy of psilocybin in treating depression. The Company anticipates that, pending regulatory approval of psilocybin, therapists would also be trained to implement psychedelics in clinical practice.

First Quarter Financial Summary

The Company recorded strong revenues of $407,075 and a gross margin of $114,253 for the first fiscal quarter ended June 30, 2021 reflecting annual increases of 80.3% and 89.7%, respectively, from the results for the first fiscal quarter ended June 30, 2020.

Revenues consisted primarily of sales revenue from the administering of ketamine infusion treatments at the CRTCE clinics in Ontario and Quebec.

As a percentage of total revenue, gross margin was approximately 28.1%, an increase of 139 basis points, when compared with the previous year’s corresponding period.

The Company recorded a net loss for the quarter of $1,091,568, including a non-cash share-based compensation expense of $294,758.

Balance Sheet

The Company’s cash and cash equivalents as of June 30, 2021, was $10,257,759, compared with $11,101,005 as at March 31, 2021.

Looking Ahead

“Braxia Scientific remains steadfastly focused on addressing the public health imperative to identify scalable solutions for attenuating depression and other brain-based disorders to improve the health and well-being of Canadians and people around the world,” said Dr. McIntyre.

“We believe the federal funding received by our senior team members speaks to our superior human capital, as well as our personnel’s long, successful track record of quality research and development. As we seek to expand our network of clinics, particularly into the United States, we look forward to implementing their findings, carrying out several clinical trials, the majority of which will be funded by third parties.”

About Braxia Scientific Corp.

Braxia Scientific is a medical research company with clinics that provide innovative ketamine treatments for persons with depression and related disorders. Through its medical solutions, Braxia aims to reduce the illness burden of brain-based mental disorders such as major depressive disorder among others. Braxia is primarily focused on (i) owning and operating multidisciplinary clinics, providing treatment for mental health disorders, and (ii) research activities related to discovering and commercializing novel drugs and delivery methods. Braxia seeks to develop ketamine and derivatives and other psychedelic products from its IP development platform. Through its wholly owned subsidiary, the Canadian Rapid Treatment Center of Excellence Inc., Braxia currently operates multidisciplinary community-based clinics offering rapid-acting treatments for depression located in Mississauga, Toronto, Ottawa, and Montreal.

ON BEHALF OF THE BOARD
“Dr. Roger S. McIntyre”
Dr. Roger S. McIntyre
Chairman & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Braxia Scientific Corp.
Tel: 416-762-2138
Email: info@braxiascientific.com
Website: www.braxiascientific.com

The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are “forward-looking statements.”

Forward-looking statements include statements about the intended promise of ketamine-based treatments for depression and the potential for ketamine to treat other emerging psychiatric disorders, such as Bipolar Depression. Such forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the failure of ketamine, psilocybin and other psychedelics to provide the expected health benefits and unanticipated side effects, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licenses and engaging in activities that could be later determined to be illegal under domestic or international laws. Ketamine and psilocybin are currently Schedule I and Schedule III controlled substances, respectively, under the Controlled Drugs and Substances Act, S.C. 1996, c. 19 (the “CDSA”) and it is a criminal offence to possess such substances under the CDSA without a prescription or a legal exemption. Health Canada has not approved psilocybin as a drug for any indication, however ketamine is a legally permissible medication for the treatment of certain psychological conditions. It is illegal to possess such substances in Canada without a prescription.

These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements.

Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, including the Amended and Restated Listing Statement dated April 15, 2021, which are available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements.

Slow and steady wins the race

California Bill To Legalize Psychedelics Possession Put On Pause Until 2022

California’s psychedelics decriminalization bill, SB519, has been put on hold until 2022, but it may be for the best.

The bill has already been approved by the Senate and 2 of 3 assembly committees, but has now been made into a two-year bill, meaning it won’t advance to the floor until next year.

Senator Scott Wiener (D), the bill’s sponsor, decided put things on pause as more time is needed to build the case for decriminalization and generate support.

“Now that we have more time, I’m optimistic through education and member engagement we can pass this critical legislation next year,” he explained.

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MINDCURE Reaches Milestone, Releasing First of its Kind Mental Health Digital Therapeutics Platform to Partner Clinics in North America

MINDCURE Reaches Milestone, Releasing First of its Kind Mental Health Digital Therapeutics Platform to Partner Clinics in North America

With its minimum viable product (MVP) release on schedule and on budget, MINDCURE will work with its clinical partners to refine the application before full commercial deployment in Q1 2022.

‍‍VANCOUVER, BC, August 26, 2021 – Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“MINDCURE” or the “Company”), a leader in advanced proprietary technology and research for psychedelics, is pleased today to announce the release of the minimum viable product version of iSTRYM, its digital therapeutics platform (DTx) for psychedelics, into partner clinics across North America.

The Company will begin full commercial deployment to all clinics in Q1 of 2022. MINDCURE plans initially to target psychedelic clinics and to then expand to integrated clinics, both traditional and psychedelic, and eventually to the broader mental health market. The Company forecasts 150 clinics in Canada, the US, and Europe utilizing iSTRYM by Q4 2022.

“MINDCURE created iSTRYM with the goal of unlocking value for researchers, therapists, and ultimately patients in need,” said Dr. John Brownstein. “I believe there’s a real opportunity to improve mental health treatments through a better understanding of patient and research data, and that this platform can be a valuable resource for the entire psychedelics industry.”

Earlier this year, the Company appointed Dr. John Brownstein, the Chief Innovation Officer at Boston Children’s Hospital, as a Company Advisor. Dr. Brownstein has been granted stock options for serving as an Advisor to MINDCURE. An esteemed epidemiologist and professor at Harvard Medical School, Dr. Brownstein has been advising on MINDCURE’s digital therapeutics technology, patient data security, and data optimization.

Developing the distribution network of content and care protocols for psychedelic drugs will allow MINDCURE to create value at all levels of the value chain: client, clinic, protocol developer, and drug developer.

In line with the Company’s focus on its digital technology and research and development activities, the Company has discontinued the development of its nootropics line of products. “As our organization has grown and our bi-divisional technology and drug research strategy have been refined, we need to focus entirely on what we do best – creating advanced and proprietary technology for and drug research in psychedelics,” said Kelsey Ramsden.

“Digital Therapeutics is a key part of our value creation strategy, affording us near term revenue opportunities and the capacity to globalize our footprint across every psychedelic molecule in locations where they are being administered in care legally,” said Kelsey Ramsden, President & CEO, MINDCURE. “These new psychedelic medicines demand new models, and technology-enabled care that uses AI and scientific rigour have an important and valuable role to play. Having methodically built a world-class team and built this platform from the ground up to serve psychedelics and scale beyond, I am excited to share the MVP version with our strategic partners within the psychedelics industry.”

In other news, MINDCURE has retained KCSA Strategic Communications (“KCSA”), a leading New York City-based integrated communications firm, to provide public relations and investor relations services for a 6-month term beginning August 23, 2021. KCSA will be paid a monthly fee of US$27,000 as consideration for the provision of the services.

About iSTRYM

iSTRYM is a first-of-its-kind software application that optimizes the healing journey for both patients and clinicians — before, during, and after therapy sessions. By bringing together and building proprietary technological solutions, iSTRYM offers therapists global, evidence-backed treatment protocols, in-session psychedelic-informed tools, customizable dashboards, integration plans, insights into patient journeys, and real-time assessments for personalized client care.

To request a demo or learn more about iSTRYM, please visit istrym.com

About Mind Cure Health Inc.

MINDCURE is a life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health. The company is developing digital therapeutics technology and researching psychedelic compounds to support access to safe, evidence-based psychedelic-assisted therapies globally. Learn more at mindcure.com, and follow us on LinkedIn, Facebook, Twitter, and Instagram.

On Behalf of the Board of Directors

Kelsey Ramsden, President & CEO

Phone: 1-888-593-8995

Forward-Looking Information

Certain information presented in this news release may constitute “forward-looking information” within the meaning of applicable securities laws regarding MINDCURE and its business. Forward-looking information inherently entails known and unknown risks and uncertainties about the future and actual results, performance or achievements contemplated by forward-looking statements made may be materially different from the results anticipated 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.

Forward-looking information is based on a number of key expectations and assumptions made by management of MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE’s business; there will be a demand for MINDCURE’s products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that iSTRYM will be developed, optimized and operate as contemplated within the psychedelics industry; that the Company will be effective in obtaining the patents applied for synthesizing ibogaine, or synthesizing ibogaine, or developing synthesized ibogaine for research, medical or commercial use; that MINDCURE will advance wellness worldwide; that iSTRYM will be brought to commercial deployment in the near term or otherwise; or that it will reduce symptoms, improve quality of life, and support transformation and healing, or that the deployment may not occur at the scale or within the time frame contemplated.

Although MINDCURE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking information presented, there may be other factors that cause results, performance or achievements to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements as no forward-looking information 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 MINDCURE does not undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.

For further information

MINDCURE Investor Relations

investors@mindcure.com

1-888-593-8995

Mindset Pharma Announces Preclinical Results Demonstrating Extended Duration of Action in its Long-Acting Next Generation Psychedelic Compounds

Mindset Pharma Announces Preclinical Results Demonstrating Extended Duration of Action in its Long-Acting Next Generation Psychedelic Compounds

Toronto, Ontario—August 26, 2021 – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company”), a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs, today announced that candidates from its Family 3 compounds, comprised of long-acting psilocybin side-chain restricted analogs, have demonstrated extended duration of action and decreased effect size at the 5-HT2A receptor. These results indicate a potentially significant improvement in the sustained efficacy and safety profile of current microdosing practices.

“The preclinical results for our long-acting psilocybin analogs have meaningful implications for psychedelic-based therapy at low doses. These findings indicate the potential for us to change the paradigm of microdosing therapies by delivering the therapeutic benefits of psychedelics with limited potential to elicit a hallucinogenic experience at a wide range of effective doses,” said James Lanthier, CEO of Mindset.

“In-vivo results indicated that our Family 3 compounds demonstrated approximately 1/10th the effect size as psilocybin on behavioral measures of 5-HT2A activity in the mouse and are predicted to have extended duration of action consistent with once a day or once every other day dosing. We plan to continue testing our low-dose Family 3 NCEs in translational preclinical animal models to elucidate potential cognitive enhancing effects of our compounds,” stated Joseph Araujo, Chief Scientific Officer of Mindset.

Mindset’s Family 3 compounds are next-generation psilocybin analogs engineered to deliver the therapeutic benefits associated with microdosing across a range of doses while limiting hallucinogenic liability. The Company has run a battery of specialized in-vitro and in-vivo tests on its patent-pending novel compounds to select the optimal psychedelic drug candidates for progressing towards human clinical trials.

To watch a video of Mindset’s CEO discuss the announcement in greater detail, please visit: https://youtu.be/Ue4g4HhdhUQ.

For more information, please contact:

Investor Contact:

Allison Soss/Tim Regan

KCSA Strategic Communications

Email: MindSet@kcsa.com

Phone: 212-896-1267/ 347-487-6788

Company Contact:

James Lanthier, CEO

Email: jlanthier@mindsetpharma.com

Jason Atkinson, VP, Corporate Development

Email: jatkinson@mindsetpharma.com

Phone: 416-479-4094

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin as well as its own proprietary compounds. For further information on Mindset, please visit our website at www.mindsetpharma.com.

Forward-Looking Information

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Additional information regarding risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

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