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Mydecine Innovations Group Inc. (MYCOF) CEO Josh Bartch on Q4 2020 Results – Earnings Call Transcript

Published at SeekingAlpha.com

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Mydecine Innovations Group Inc. (OTCPK:MYCOF) Q4 2020 Earnings Conference Call May 3, 2021 10:30 AM ET

Company Participants

Allison Soss – Investor Relations

Josh Bartch – Co-founder, Chairman and CEO

Dean Ditto – Chief Financial Officer

Operator

Greetings, and welcome to the Mydecine Innovations Group Inc. Full Year 2020 Earnings Conference Call. At this time, all participants are in a listen only mode. A question-and-answer session will follow the formal presentation [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce Allison Soss of Investor Relations. Thank you. You may begin.

Allison Soss

Thank you, operator. Good morning, everyone and welcome to Mydecine’s Full Year 2020 Financial Results Conference Call. Before we begin, I would like to remind you that the comments on today’s call will include forward-looking statements, which by their nature involve estimates, projections, goals, forecast and assumptions, and they’re subject to risks and uncertainties, that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements and certain material factors or assumptions that were applied in drawing a conclusion or making a forecast in such statements. These forward-looking statements speak only as of the date of this conference call and should not be relied upon as projections of future events. Additional information about the material factors and assumptions forming the basis of the forward-looking statements and risk factors can be found in the company’s filings and press releases on SEDAR.

With that, I would like to turn the call over to Josh Bartch, Co-founder, Chairman and CEO of Mydecine.

Josh Bartch

Thanks, Allison and thank you, everyone for joining us today on our earnings call. I’m joined by Dean Ditto, Chief Financial Officer. As this is our first earnings conference call as a publicly traded company, I want to use today’s call as an opportunity to provide everyone with background on Mydecine, including our building leadership position in the biotech and life sciences industry, growth strategy and vision for the many future applications of psychedelic assisted therapies. We founded Mydecine with the goal of revolutionizing the way people live and experience life through innovative solutions for treating mental health problems and enhancing wellbeing. As an emerging biotech and life sciences company, we set out to accomplish this goal through three main verticals: first, research and development of major source psychedelic assisted therapeutics, novel compounds, therapy protocols and unique delivery systems through global clinical trials; second, a robust IP portfolio; third, development of an advanced HIPAA compliant telehealth platform.

To efficiently and quickly establish the foundation for Mydecine, we completed two significant acquisitions in 2020. In June of 2020, we completed the acquisition of Mindleap, a company known for its digital health platform centered around psychedelics. Mindleap’s product design was worked on by a team of neuroscientists, psychotherapists, clinical psychologists, software developers, designers and iOS and Android experts. The Mindleap app tapped into an international network of health specialists to provide customized emotional and wellbeing tracking tools for patients. Since the acquisition, the team has worked diligently to launch Mindleap version 2 with an enhanced experience in remote telemedicine services, which we anticipate this spring. Then, in September of 2020, we completed the acquisition of NeuroPharm Inc., a developer of natural health psychedelic based treatments for PTSD and other serious mental health disorders in veterans and frontline workers. This strategic acquisition not only expanded the company’s research capacity but has helped to advance both site scientific understanding and the availability of naturally sourced psilocybin to research institutions around the globe.

Additionally, we entered into a strategic partnership with Applied Pharmaceutical Innovations, a translational commercial drug development institute, hosted at the University of Alberta’s faculty of pharmacy and pharmaceutical science to further enhance our research capabilities. In June of 2020, we expanded our relationship by entering into an exclusive partnership and research division agreement. Our partnership with API enables Mydecine to field unparalleled studies with precise control and ownership over study design and drug format. We can support multiple drug development and clinical trial programs simultaneously. The end goal is developing products with significantly improved clinical applications over a period of three years. Our research and development capabilities also include Mydecine sponsored studies with several universities, including the first lab based study of established microdosing at Macquarie University in Australia and neuron level response of psilocybin at the University of Maryland.

Lastly, Mydecine completed its own specialized state of the art mycology lab, the first of its type in the country, located at the Mydecine Center of Mycology, MYCOM, in Denver, Colorado. MYCOM was developed not only for the mycology lab but with full cultivation, genetic research, IP, product development, production of all fungi medicinal compound, analytical chemistry, genomics tissue culture and a GMP compliant SOP production processes. With our R&D facilities in place and world class team established, we’ve launched clinical trials in three continents for the Phase 2a study of psychedelic treatments for PTSD in veterans, EMF and first responders with aims to achieve safer and more accurate psychedelic led psychotherapy results in a supervised setting. Most recently, we announced our four lead novel drug candidates: MYCO-001 a pure psilocybin from natural fungal sources; MYCO-002, an entactogenic compound that has been created with the goal of reducing harm and improving the safety profile versus traditional MDMA; MYCO-003, a psilocybin based formula with reduced anxiety potential with the aim of removing the possibility of “bad trip,” even with severely ill patients; and MYCO-004, a patch delivered tryptamine compound with properties that include short duration, transdermal application, precision dosing and long term compound stability.

These drug candidates were developed with the research team at Mydecine along with collaboration from Dr. Denton Hoyer, drug discovery expert and scientific advisory board member. We believe that these identified compounds will provide excellent improvements for additional new compounds, which further meets the demands of the clinic and have improved safety, efficacy and formulation properties. With these four newly introduced drug candidates, we have reached a critical milestone in our company’s development as well as achieving major advancements for the psychedelic therapeutics industry at large. We have successfully identified the compounds that can significantly enhance therapy, reduce anxiety and maximize delivery mechanisms. At Mydecine, we’re using complex compounds to increase the value of these cannabis and also allow us to develop unique patent pending applications in the US and Canada. As we continue to build upon a robust R&D pipeline, we remain focused on building a robust IP portfolio to lead the advancement of psychedelic assisted psychotherapy.

At this time, we have seven patent applications that represent thousands of inventions with multiple layers of protection on the company’s proprietary drug development pipeline. A key driver of our first mover status in the research and development of psilocybin mushrooms is our unique opportunity to source these mushrooms. During the fourth quarter of 2020, we achieved another significant milestone, completing the first ever international commercial harvest and export of legal psilocybin mushrooms for our research and cultivation facility in Jamaica to Canada in completing our first harvest of 20 kilograms of psilocybin mushrooms. This is one of the first steps in sourcing quality products for our research and development at scale. Our ability to access increasing quantities of these valuable molecules will be paramount to our company’s growth and we are excited to be the first to advance this movement at scale.

It is our expert team that has been quickly and quietly building one of the most innovative companies in the psychedelic spaces. We brought together a collection of passionate business leaders, scientists, mental health professionals and technology visionaries. Along the way, we have added some key members who I’d like to highlight next. First, Dr. Denton Hoyer, a drug discovery expert, joined our scientific advisory board in June of 2020. Dr. Hoyer has been involved in drug discovery at leading pharmaceutical companies, such as Pfizer and Novartis, and research institutions such as Yale for the last 30 years. He holds numerous patents and has been published extensively in the field of medicinal chemistry and drug research. Dr. Hoyer has unparalleled expertise in computational chemistry enabled probe molecule design, drug design, and optimization, synthetic planning and execution, evaluation of chemical novelty and intellectual property assessment strategies. As noted earlier, he played a critical role in identifying our four lead novel drug candidates with the Mydecine research team.

Then in November 2020, we welcome Dr. Rakesh Jetly to the team as Chief Medical Officer. Dr. Rakesh has over 30 years of experience in health and medicine for the Canadian Armed Forces. He’s seen firsthand the traumatic stress and conditions that soldiers and veterans regularly experience and where our current PTSD treatments fall short. In March of 2021, Michel Rudolphie joined the company as President of European Pperations. Mr. Rudolphie, a Dutch citizen, with a Master’s and MBA in healthcare management and policy from Erasmus University in Rotterdam, has an impressive career record in the healthcare industry with succession of leadership positions at Novartis for 14 years, including four years serving as CEO of Novartis, Norway. Later in his career, he joined Make-A-Wish International as CEO and President and was responsible for moving the international headquarters from Phoenix, Arizona, to the Netherlands in addition to assembling a new team and developing foundation internal and external strategy.

Lastly just today, we announced that William Cook will join the team as interim CEO of Mindleap. At different point in juncture of our company’s development, as a west point graduate and a US army veteran, Mr. Cook’s extensive experience, intelligence and compassion have all been key factors to his success. As Manager at Raytheon, Mr. Cook was crucial to the Patriot missile defense capability youth and that desert storm. At Litton Industries, he led hundreds of engineers to develop artificial intelligence software for battle. Thereafter, he founded a software firm and an engineering firm, demonstrating his critical role and leadership in driving growth. Mr. Cook received his Master’s degree in marriage and family and child therapy and had performed countless hours of deep trauma healing work with clients in group and private psychotherapy, placing mental healthcare at the center of his passions. His technical expertise, in conjunction with his personal interest in healing, makes Mr. Cook a trusted leader as we focus on launching Mindleap version 2 in the spring of 2021.

With that, I would like to turn it over to Dean, our Chief Financial Officer, to review our financial highlights before I discuss our vision and outlook.

Dean Ditto

Thank you, Josh. I will speak about the financial results in terms of Canadian dollar. The company’s net loss attributable to common stockholders was $26.9 million for the year ended December 31, 2020, which equates to a basic and diluted loss per share attributable to common stockholders of $0.24. This is compared to a net loss attributable to common stockholders of $21.5 million for the year ended December 31, 2019, or a basic and diluted loss per share attributable to common shareholders of $0.96 cents. Turning to the balance sheet. As of December 31, 2020, the company had cash and cash equivalents of $2.2 million. Subsequent to the year end, Mydecine successfully raised approximately $30 million in the first month of 2021. The company believes at this time there’s sufficient liquidity to execute on its 2021 planned business activities and to satisfy the commitments made to date.

At this time, I would like to turn the call back over to Josh.

Josh Bartch

Thanks, Dean. Today, we provided a detailed overview of Mydecine and the strategy we employed to build one of the most innovative companies in the psychedelic spaces. Recently, we migrated our common shares and warrants to the New York Exchange and March of 2021, enabling us to reach a broader institutional and retail investor audience. While we diligently worked on our drug development, we also remain committed to providing greater visibility within the investment community. In this spirit, we’ve submitted a formal application to list on the NASDAQ stock exchange, as well as have taken the necessary steps to qualify, including adding an independent board, engaged a Tier 1 audit firm MNP, engaged EGS, Ellenoff Grossman & Schole as US council and announced a spin out of the company’s cannabis assets, a prerequisite to the listing.

At Mydecine, we focused on closing strategic acquisition and partnerships, advancing our clinical trials and building our IP portfolio to position us as a key player in the advancement of psychedelic assisted psychotherapy. Now as we move ahead with a vertically integrated business model in place, supported by a strengthened balance sheet and expanded team of world class executives, we are strongly positioned to enter the next chapter of Mydecine’s journey to lead the future of psychedelic therapeutics industry. We look forward to keeping the investment committee apprised of upcoming milestones, including data from our Phase 2a study as well as our drug development initiatives. We’re extremely excited as we approach the launch of Mindleap version 2 following today’s announcements of William Cook taking the helm as Interim CEO. Our passion sends us on a mission to develop high quality products and disruptive new technologies so we can contribute to making the world a better place.

I’d like to thank everybody for joining. This is Josh Bartch, CEO. Thank you to all our trusted shareholders. 2021, we look forward to continued updates, continued progress and a continued enhanced journey. Thank you again for your support.

Operator

Thank you for your participation. This does conclude today’s teleconference. You may disconnect your lines at this time. Have a great day.

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Mindset Pharma Announces Positive Preclinical Results of Its Proprietary Next Generation DMT & 5-MeO-DMT Compounds

Toronto, Ontario–(Newsfile Corp. – April 29, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“) is pleased to announce that certain of Mindset’s Family 4 compounds, a group of patent-pending novel chemical entities that are inspired by DMT & 5-MeO-DMT, are exhibiting positive in vitro screening characteristics.

James Lanthier, CEO of Mindset, commented, “N,N-dimethyltryptamine (DMT) & 5-Methoxy-N,N-dimethyltryptamine (5-MeO-DMT) are potent, short-acting psychedelic drugs that produce strong hallucinogenic effects. DMT & 5-MeO-DMT are attracting growing attention as potential therapeutics for neuropsychiatric indications. The depth of psychedelic experience that these drugs induce coupled with their relatively short duration of action make them desirable candidates for in-clinic treatment models. DMT & 5-MeO-DMT analogs, optimized for reduced toxicity and improved pharmacokinetic and pharmacodynamic characteristics, could have considerable potential as next generation psychedelic medicines.

We are pleased to report that a number of proprietary Mindset’s Family 4 compounds, in particular those which aim to improve on the efficacy and safety profiles of 5-MeO-DMT, are exhibiting comparable functional and binding in vitro effects, and in some cases superior, agonist properties across key human serotonin receptor subtypes expressed in the central nervous system (“CNS“). These include not only the 5-HT2A receptor subtype, which is well understood to be highly correlated with a psychedelic experience, but also the 5-HT1A and 5-HT2C receptors as well. Published data has suggested that activation of the 5-HT1A as well as 5-HT2C receptors may also play a significant role in contributing to the subjective and behavioral effects implicated in depression, anxiety, mood regulation, substance misuse and eating disorders, among other CNS disorders, elicited by psychedelics.

Mindset has also completed in vitro absorption, distribution, metabolism and excretion profiling on a subset of the compounds from Family 4 and as expected, several compounds demonstrated relatively short durations of action compared to other classic psychedelics.

These results are highly promising, and Mindset will continue to evaluate and advance its Family 4 compounds, both in vitro and in vivo, alongside several promising compounds from its other novel compound families. Mindset’s proprietary next-generation psychedelic drug pipeline continues to expand and we will provide updates of such expansion at the appropriate time.”

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
CEO
jlanthier@mindsetpharma.com

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

Timothy Regan
VP, Capital Markets
MindSet@KCSA.com
347-487-6788

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. 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. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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

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MINDCURE Shares Update on Strong Financial Position, Near Term Revenue Drivers and Timeline for iSTRYM’s Market Launch, Delivering Mental Wealth

MINDCURE is well-positioned to capitalize on its near-term revenue strategy, complete beta testing and launch of digital therapeutic tool iSTRYM and further its research into psychedelics

VANCOUVER, BC, April 29, 2021 /CNW/ – Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“MINDCURE” or the “Company”) a leader in advanced proprietary technology for psychedelic therapy, is pleased to share updates today on its financial position, near-term revenue strategy, timeline for iSTRYM’s market launch, as well as its research plans and products for both psychedelics and nootropics designed to accompany the use of psychedelic medicines.

Financial Update

With MINDCURE’s most recent equity raise of $23 million this past February, the Company believes it is well-positioned financially with a clear path to near-term revenues through its technology platform and nootropics product line. MINDCURE also announced last week the hiring of an experienced M&A and capital markets financial leader, Michael Wolfe, as the Company’s new Chief Financial Officer. “We are well-positioned financially to capitalize on opportunities in the short term while concurrently doubling down on our key strategic focuses which we have been sharing with the market over the past several months,” said Kelsey Ramsden, MINDCURE President and CEO.

Near-term revenue generation is a key part of MINDCURE’s financial strategy. It expects a commercial rollout of its digital therapeutics platform, iSTRYM, by Q1 2022, and currently sells its nootropic supplements through MINDCURE Wellness (www.mindcurewellness.com). The Company is also developing proprietary formulations for before (pre) and after (post) psychedelic-assisted psychotherapy, to help patients prepare for and integrate from their sessions.

“MINDCURE recognizes the value of blue sky opportunities in drug development and while we pursue the establishment of a clearly differentiated research program from other psychedelic companies, leading with synthesizing ibogaine, we believe strongly that bottom line fundamentals are essential,” said Mrs. Ramsden. “And that is why we are developing horizons of realizable revenue through a planned global SaaS rollout with iSTRYM anticipated to become a platform backbone of the psychedelic-assisted psychotherapy industry with our AI driven technology.”

iSTRYM

With a series of recent partnership announcements with Speak Ai Inc. (“Speak Ai”), LUCID Inc. (“LUCID”), and SOMA Breath Inc. (“SOMA Breath”), MINDCURE is committed to building iSTRYM into the go-to resource that therapists and patients will turn to for science-backed, personalized psychedelic and non-psychedelic mental health care at scale. Speak Ai is developing custom integrations of its data collection software to enable iSTRYM to marry sentiment with biometric data, location, weather, and a variety of other variables to help optimize its integration protocols and provide individuals with quantified care at scale globally, across a variety of psychedelic medicine protocols. LUCID is designing custom AI-based music experiences within iSTRYM to enhance the effectiveness of psychedelic treatments, and SOMA Breath is building a custom breathwork track in addition to licensing its existing breathwork platform, which will enable therapists to design more effective sessions and also increase the likelihood of an effective post-session integration for patients.

The beta version of the iSTRYM is scheduled to launch this August, and the development is both on track and on budget. “We are both pushing really fast and being very thoughtful with iSTRYM’s build-out,” continued Mrs. Ramsden. “We want to ensure that this platform will effectively serve the needs of the market, for both therapists and patients, and researchers as well. This is why we have selected best-in-class partners and integrations across the spectrum of mental health treatments, and brought in people such as Ty Tashiro and Daniel Herrera to the team.” Mr. Tashiro, MINDCURE’s Senior Translational and Psychometric Architect, is an expert in psychometrics and is guiding the development of client assessments, as well as specific items and scales for proprietary use within iSTRYM to ensure that therapists have the tools they need to be successful.

Additionally, with its investment in ATMA Journey Centers Inc. (“ATMA“), MINDCURE believes it has a direct go-to-market strategy to get iSTRYM into the hands of therapists and patients. And beyond ATMA, Mr. Herrera is leading strategic partnerships that are planned to leverage iSTRYM with additional mental health partners across the psychedelics and health care value chain, with the intention of driving platform engagement of iSTRYM among researchers, therapists and patients.

Research & Science

Led by Dr. Ryan Hartwell, Dr. Dan Engle and a team of world-renowned researchers and scientists at the forefront of psychedelics, MINDCURE’s science arm is focused on the synthetic production of pharmaceutical grade ibogaine, supporting Dr. Engle’s work as the Primary Investigator into treating traumatic brain injuries (TBIs) through psychedelic-assisted psychotherapies, and leveraging PsyCollage, the Company’s first-generation bioinformatics platform, intended to drive more meaningful clinical work and research programs.

“PsyCollage provides the data and tools necessary for our scientific team to make informed decisions, and for us as a Company to allocate our capital and resources into the most meaningful opportunities and best possible outcomes,” said Mrs. Ramsden. “Our research starts with identifying opportunities to improve how the world treats mental health issues. Then, we develop solutions for commercialization.”

As mentioned above, MINDCURE is also developing proprietary pre and post-therapy session nootropics to add to its existing product line. “We view both our existing nootropics and adaptogen products as well as these coming formulations as an important part of our near-term revenue generation strategy,” continued Mrs. Ramsden. “While the benefits of functional mushrooms are well known to many, we see a clear opportunity to  develop supplement products aimed specifically at supporting the psychedelic experience.”

About Mind Cure Health (MINDCURE) Inc.

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

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

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

Forward-Looking Information

Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: MINDCURE being well-positioned to capitalize on its near-term revenue strategy; MINDCURE developing proprietary formulations for pre and post psychedelic-assisted psychotherapy; Speak Ai developing custom integrations of its software for iSTRYM; LUCID designing custom AI-based music experiences within iSTRYM; SOMA Breath building a custom breathwork track and licensing its existing breathwork program; the MVP of iSTRYM launching in August; and MINDCURE producing synthetic ibogaine.

Forward-looking information is based on a number of key expectations and assumptions made by 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 the functional mushroom industry will continue to grow; MINDCURE developing proprietary formulations for pre and post psychedelic-assisted psychotherapy; Speak Ai developing custom integrations of its software for iSTRYM; LUCID designing custom AI-based music experiences within iSTRYM; SOMA Breath building a custom breathwork track and licensing its existing breathwork program; the MVP of iSTRYM launching in August; and MINDCURE producing synthetic ibogaine; and MINDCURE will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what MINDCURE believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.

Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the impacts of the COVID-19 pandemic on the Canadian economy, MINDCURE’s industry and MINDCURE’s business, which may negatively impact, and may continue to negatively impact, MINDCURE and may materially adversely affect MINDCURE’s investments, results of operations, financial condition, and MINDCURE’s ability to obtain additional equity or debt financing, and satisfy its financial obligations; general economic conditions; future growth potential; competition for mental health and wellness investments; MINDCURE may not develop proprietary formulations for pre and post psychedelic-assisted psychotherapy; Speak Ai may not develop custom integrations of its software for iSTRYM; LUCID may not design custom AI-based music experiences within iSTRYM; SOMA Breath may not build a custom breathwork track and licensing its existing breathwork program; the MVP of iSTRYM may not launch in August; MINDCURE may not produce synthetic ibogaine; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. Additional information on the risk factors that could affect MINDCURE can be found under “Risk Factors” in MINDCURE’s final prospectus which is available on SEDAR at www.sedar.com.

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

United States Advisory
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), may be offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.

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

SOURCE Mind Cure Health Inc.

For further information: Connect: Investor Relations: investors@mindcure.com; 1-888-593-8995; Jonathan L. Robinson CFA, Partner, Oak Hill Financial Inc., jrobinson@oakhillfinancial.ca, 416-669-1001

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Numinus Wellness Q2 2021 Results Highlighted by $17.25 Million Financing, Mindspace Wellbeing Acquisition and Clinical Trial Collaboration with MAPS PBC

Events subsequent to quarter end include $40.25 million financing and Phase 1 clinical trial

VANCOUVER, BC, April 29, 2021 – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced its second quarter financial results for the three months ended February 28, 2021.

In the second quarter, Numinus raised significant funds and advanced its compassionate access trial portfolio, acquisition strategy and innovation agenda while creating a strong foundation for long-term, sustainable growth across all lines of business.

All financial results are reported in Canadian dollars unless otherwise stated.

Q2 2021 Highlights:

  • Achieved cash balance of $28.5 million as at February 28, 2021
  • Completed $17.25 million bought deal public financing and exercised more than $14.5 million in warrants and options
  • Realized net loss of $4.2 million compared to $2.1 million in Q2 2020
  • Reported revenue of $231,507 compared to $259,489 in Q2 2020
  • Completed acquisition of Montreal-based Mindspace Wellbeing
  • Signed lab services agreement with Optimi Health to advance R&D
  • Announced collaboration with Multidisciplinary Association for Psychedelic Studies Public Benefit Corporation (MAPS PBC) and key advancements for the compassionate access trial for MDMA-assisted therapy for post-traumatic stress disorder
  • Completed the first legal extraction of Psilocybe mushrooms by a Canadian public company
  • Obtained the Orbitrap Exploris 120 mass spectrometer instrument to accelerate R&D

Highlights Subsequent to Quarter End:

  • Completed $40.25 million bought deal public financing
  • Raised $1.48 million due to the exercise of warrants and options
  • Achieved several milestones for the compassionate access trial with Syreon Corporation for Psilocybin-Research Intervention with Motivational Enhancement (PRIME) for substance use disorders
  • Received Health Canada license amendment to allow for the possession, production, assembly, sale, export, and delivery for a wide variety of psychedelics including ketamine, LSD, mescaline, DMT, and MDMA
  • Announced a 7,500-square-foot expansion of Numinus Bioscience’s research laboratory
  • Continued research activities related to psilocybin extraction of Psilocybe mushrooms as part of the Company’s research program
  • Announced Phase 1 clinical trial of natural psilocybin mushroom extraction prepared at Company lab in partnership with KGK Science

Commentary and Outlook

“Q2 was a landmark quarter for Numinus, and we were pleased to close the period with a strong cash position, stable balance sheet and robust pipeline of announcements across all lines of our business,” said Payton Nyquvest, President, CEO, and Chair, Numinus. “In addition, we were pleased to welcome Mindspace Wellbeing, its exceptional leadership team and more than 30 therapists into our family of clinics.”

“As of today, we are well set up for the balance of the fiscal year with $65 million in cash, a strategy for future M&A, leadership in lab licensing, world-class clinical trial partnerships and a uniquely integrated approach to psychedelic production, research and clinic care. Our focus remains on investments in our growth initiatives, and we are confident that we will continue advancing our leadership position in the implementation of evidence-based, psychedelic-assisted therapy,” added Mr. Nyquvest. “I want to thank our team, partners and shareholders for helping us achieve these important milestones less than one year after our public markets debut, and for supporting our mission to empower people to heal and be well.”

Numinus continues to generate revenue in its first operational year as a public company and is actively investing capital to further its growth initiatives. The Company expanded its psychedelic testing capabilities and services at its Numinus Bioscience laboratory, and has undertaken renovations at its Vancouver clinic to offer a wider variety of therapy options and prepare for psychedelic-assisted therapy delivery and compassionate access trials later in 2021. In addition, the Company started generating revenue from the closing of the Mindspace acquisition in Q2.

With the capital raised in Q2 and subsequently in Q3, Numinus has a strong cash position that will be invested to support lab initiatives, Vancouver clinic renovations and new hires, including positions in business development, M&A, marketing and communications, and mental health and psychedelic-assisted therapy services.

Selected Financial Results for Q2 2021

For the three months ended For the six months ended
February 28, 

2021

 February 29, 

2020

 February 28, 

2021

 February 29, 

2020
Revenue $231,507 $259,489 $460,695 $393,904
Cost of revenue (291,231) (155,031) (558,554) (223,229)
Gross profit (59,724) 104,458 (97,859) 170,675
Expenses (4,170,659) (2,135,273) (6,080,588) (3,092,750)
Loss before other items (4,230,383) (2,030,815) (6,178,447) (2,922,075)
Other items (7,489) (37,133) 11,838 (50,884)
Loss before income taxes (4,237,872) (2,067,948) (6,166,609) (2,972,959)
Income tax – – – (6,240)
Loss and comprehensive loss for the period $(4,237,872) $(2,067,948) $(6,166,609) $(2,979,199)
For the six months ended
February 28, 

2021

 February 29, 

2020
Cash used in operating activities $(6,212,845) $(526,861)
Cash generated by (used in) investing activities (71,847) 53,552
Cash generated by financing activities 33,238,449 584,803
Change in cash during the period 26,953,757 111,494
Cash, beginning of period 1,627,329 89,987
Cash, end of period $28,581,086 $201,481

Numinus’ condensed consolidated interim financial statements for the period ended February 28, 2021 and related management’s discussion and analysis are available on Numinus’ website at numinus.ca and under the Company’s profile on SEDAR at www.sedar.com.

About Numinus

Numinus Wellness (TSX-V: NUMI) empowers people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus Wellness model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice, and building the foundation for a healthier society.

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

Forward-looking statements

This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “expects”, “does not expect”, “is expected”, “believes”, “intends”, “Anticipates” or “does not anticipate”, or “believes” or variations of these words, expressions or statements, that certain actions, events or results “may”, “could”, “would” or “be” taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand the Company’s facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal and provincial legalization, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company’s limited operating and profitability track record; dependence on management; the Company’s need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the continued impact of the COVID-19 pandemic; and the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company’s efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. 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. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws.

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 news release.

For further information:

John Fong, Chief Financial Officer and Corporate Secretary, Numinus Wellness Inc., ir@numinus.ca

For media inquiries: Maggie Hall, Kaiser & Partners, maggie.hall@kaiserpartners.com

Posted on

Complex Biotech Discovery Ventures Hires New Lead Chemist

VANCOUVER, BC, April 28, 2021 /PRNewswire/ – Delic Holdings Inc. (“DELIC” or the “Company“) (CSE: DELC) (OTCQB: DELCF), a psychedelic wellness-focused company, is pleased to announce that its acquisition target, Complex Biotech Discovery Ventures Ltd. (“CBDV”), a licensed cannabis and psilocybin research laboratory specializing in chemical analytics, extraction optimization, and process design, has hired Dr. Eric Janusson as Lead Chemist.

Dr. Eric Janusson is an analytical organometallic chemist specializing in real-time methods for the quantification and characterization of sensitive chemical intermediates. A long-time resident of Vancouver Island, Dr. Janusson received his Ph.D. in analytical chemistry at the University of Victoria in 2017 under the direction of Professor Scott McIndoe. After completing his studies, Dr. Janusson held a postdoctoral scholar position with the Cronin Group at the University of Glasgow where he developed an interest in machine learning, statistical modelling, self-assembly of inorganic nanoparticles, automated synthesis and robotics, as well as ion mobility mass spectrometry. Dr. Janusson was a postdoctoral researcher at the University of Glasgow, Scotland from 2017 to 2019 in the Cronin Group. After completing his contract with the Cronin Group, he continued on as an associate member until March 2021. Dr. Janusson joined CBDV in 2021 to spearhead the analytical chemistry efforts of the company and further develop high-quality analytical methods for cannabis and psilocybin research.

As Lead Chemist, Dr. Janusson’s function and main duties within the company include:

  • Lead analytical chemistry efforts
  • Lead method development for cannabis and mushroom testing
  • Provide input on scientific leadership and strategic direction for the company
  • Build alliances and partnerships with other scientific experts/organizations

Dr. Markus Roggen, Director of Delic Corp & Founder of CBDV commented, “We are excited to have Eric join us. He brings a lot of expertise in analytical chemistry and new perspectives to the team. Eric is instrumental to combine our analytical platforms with our machine learning capabilities.”

Financing

DELIC and CBDV, would also like to announce a private placement of a minimum of 3,333,333 subscription receipts of CBDV (“the Subscription Receipts”) on a non- brokered basis (“the Offering”), at a size to be determined in the context of the market.

Each Subscription Receipt will, following the completion of the Company’s transaction to acquire CBDV, entitle the holder to receive, without payment of additional consideration or taking of further action, one unit of the Company (each, a “Unit” and collectively, the “Units“), at a price CAD$0.30, with each Unit being comprised of one common share (a “CBDV Common Share“) of the Company and one common share purchase warrant of the Company (“CBDV Warrant“). Each CBDV Warrant shall be exercisable to acquire one‎ CBDV Common Share of the Company at a price of CAD$0.40 per CBDV Warrant for a period of twenty-four (24) months.

About CBDV
Complex Biotech Discovery Ventures (CBDV), based at the University of British Columbia in Vancouver, BC, is a licensed cannabis and psilocybin research laboratory focused on extraction optimization, analytical testing, and process development. Founded by award-winning chemists, Dr. Markus Roggen and UBC Professor Glenn Sammis, CBDV uses precision chemical analytics and metabolomics identification to advance the cannabis and psilocybin industries.

For media and service inquiries, please contact info@cbdvl.com. Learn more at www.cbdvl.com and follow us on LinkedIn: Complex Biotech Discovery Ventures and Instagram: @complexbiotech.

About DELIC

DELIC Always Expanding. In All Ways.

DELIC was formed in 2019 to address the growing interest in psychedelic wellness backed by science. DELIC was the ‎first psychedelic umbrella platform and is currently a trusted source for those interested in ‎psychedelic culture, psychedelic clinics, and more. ‎DELIC’s offerings include, Ketamine Infusion Center (under binding acquisition agreement), a limited liability corporation formed under the laws of Arizona and runs two ketamine clinics in Arizona and California, “Reality Sandwich”, a free public education platform providing psychedelic guides, news and ‎culture, “Meet Delic”, the first ever psychedelic wellness summit, and “The Delic”, an e-commerce lifestyle brand. ‎For more information, check out www.deliccorp.com.

The Canadian Securities Exchange ‎has neither approved nor disapproved the contents of this news release and does not accept responsibility ‎for the adequacy or accuracy of this release.‎

Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable ‎Canadian securities ‎legislation and may also contain statements that may constitute “forward-looking ‎statements” within the meaning of ‎the safe harbor provisions of the United States Private Securities ‎Litigation Reform Act of 1995. Such forward-looking ‎information and forward-looking statements are not ‎representative of historical facts or information or current ‎condition, but instead represent only the ‎Company’s beliefs regarding future events, plans or objectives, many of ‎which, by their nature, are ‎inherently uncertain and outside of DELIC’s control. Generally, such forward-looking ‎information or ‎forward-looking statements can be identified by the use of forward-looking terminology such as ‎‎”plans”, ‎‎”expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, ‎‎‎”anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may ‎contain ‎statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be ‎taken”, “will continue”, ‎‎”will occur” or “will be achieved”. The forward-looking information and forward-‎looking statements contained herein ‎may include, but are not limited to, closing of the transaction with CBDV, the private placement and conversion of subscription receipts, the growth and business of CBDV, potential earn out payments, anticipated continued growth in the health and wellness sector (and, in particular, related to psychedelics), the continued emergence of psychedelics from stigmas, the ability of the Company to maintain sensible messaging, the ability of the Company to avoid dogmatic practices and binary rhetoric‎, the ability of DELIC to successfully achieve business ‎objectives, ‎and expectations ‎for other economic, ‎business, and/or competitive factors.‎

By identifying such information and statements in this manner, DELIC is alerting the reader that ‎such ‎information and statements are subject to known and unknown risks, uncertainties and other factors ‎that may cause ‎the actual results, level of activity, performance or achievements of DELIC to be ‎materially different from those ‎expressed or implied by such information and statements. In addition, in ‎connection with the forward-looking ‎information and forward-looking statements contained in this press ‎release, DELIC has made certain ‎assumptions. Among the key factors that could cause actual ‎results to differ materially from those projected in the ‎forward-looking information and statements are the ‎following:‎ the ability to consummate the Transaction; the ability to satisfy the conditions to closing of the Transaction on the proposed terms and schedule; the potential impact of the announcement or consummation of the acquisition on ‎relationships, ‎including with regulatory bodies, employees, suppliers, customers and competitors; ‎changes in general economic, ‎business and political conditions, including changes in the financial ‎markets; changes in applicable laws; compliance ‎with extensive government regulation; and the diversion of management time on the Transaction.

Should one or more of these risks, uncertainties or other factors materialize, or should assumptions ‎underlying the ‎forward-looking information or statements prove incorrect, actual results may vary ‎materially from those described ‎herein as intended, planned, anticipated, believed, estimated or ‎expected.‎

Although DELIC believes that the assumptions and factors used in preparing, and the expectations ‎contained ‎in, the forward-looking information and statements are reasonable, undue reliance should not ‎be placed on such ‎information and statements, and no assurance or guarantee can be given that such ‎forward-looking information and ‎statements will prove to be accurate, as actual results and future events ‎could differ materially from those anticipated ‎in such information and statements. The forward-looking ‎information and forward-looking statements contained in this ‎press release are made as of the date of ‎this press release, and DELIC does not undertake to update any ‎forward-looking information ‎and/or forward-looking statements that are contained or referenced herein, except in ‎accordance with ‎applicable securities laws. All subsequent written and oral forward- looking information and ‎statements ‎attributable to DELIC or persons acting on its behalf is expressly qualified in its entirety by this ‎‎notice.‎

Posted on

Mindset Pharma Engages KCSA Strategic Communications to Provide Investor Relations Services

Toronto, Ontario–(Newsfile Corp. – April 28, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“) announces that it has entered into an agreement with KCSA Strategic Communications (“KCSA“) to provide investor relations services effective as of May 15, 2021. KCSA is a fully integrated communications consultancy with a creative and strategic approach to public relations, investor relations and social media. Mindset’s agreement with KCSA has an initial term of six months, for a monthly fee of USD$11,500, and continues thereafter on a month-to-month basis. The agreement may be terminated with 90 days written notice by either party following the conclusion of the initial six-month term.

“KCSA is excited to partner with the management team of Mindset to help increase investor awareness of this very exciting CNS focused drug development company. As a firm dedicated to supporting the medical psychedelics industry, KCSA is well versed in the sector and is confident the underlying science of psychedelic compounds holds great promise in treating a variety of psychiatric disorders. The goal of Mindset is to address the dearth of existing treatment options to effectively treat mental illnesses, including depression and PTSD; KCSA applauds these efforts,” commented Jeffrey Goldberger, Managing Partner and Principal of KCSA Strategic Communications.

For further information, along with a video overview of Mindset, please visit our website at: www.mindsetpharma.com.

CONTACT:

James Lanthier
CEO
jlanthier@mindsetpharma.com

Jason Atkinson
VP, Corporate Development
jatkinson@mindsetpharma.com

Timothy Regan
VP, Capital Markets
MindSet@KCSA.com
347-487-6788

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. 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. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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

‍

Posted on

Bright Minds Biosciences Appoints Industry Experts for Key Roles and Expands Scientific Advisory Team

VANCOUVER, British Columbia, April 27, 2021 (GLOBE NEWSWIRE) — Bright Minds Biosciences (“Bright Minds” or the “Company”), a biotechnology company focused on developing novel transformative treatments for neuropsychiatry disorders, epilepsy and pain, today announced two additions to its leadership team and one new scientific advisor as follows:

  • Jianmin Duan, PhD, Vice President, Pharmacology, will lead Bright Minds’ preclinical testing work.
  • Thomas Grizzle, Vice President, Toxicology, will lead Bright Minds’ efforts around the safety and biological effects of its therapeutics.
  • Krista Lanctot, PhD, Advisor, will join Bright Minds’ Scientific Advisory team.

 

“The additions of Jianmin, Tom and Krista to the Bright Minds team will help us to accelerate the advancement of our development pipeline as we broaden our core scientific strengths. Jianmin is a well-respected PK/PD specialist whose experience will guide our drug development program. Similarly, Tom has been a sought-after consultant and renowned toxicologist who has helped many companies navigate the complexities of ensuring drug safety standards. As a Key Opinion Leader studying Alzheimer’s disease, Krista’s work focuses on cognitive and neuropsychiatric symptoms associated with dementia. Each of these talented individuals brings decades of experience that will help us progress our approach of using serotonin agonists to develop improved therapeutics to address a variety of mental health, epilepsy and pain management needs,” stated Ian McDonald, Chief Executive Officer of Bright Minds.

 

Jianmin Duan, PhD, is an experienced pharmaceutical research and development scientist with expertise in drug absorption, distribution, metabolism, excretion, pharmacokinetics and pharmacology. Prior to joining Bright Minds, Dr. Duan was an independent consultant to pharmaceutical and biotechnology companies, guiding R&D evaluations, regulatory submissions, implementing and validating novel biological assays, CMC, experimental design, data analysis, formulation design, cross-species predictions, and selecting and implementing PK/PD/Tox models to inform drug development decisions. Previously, Dr. Duan spent more than 20 years at Boehringer Ingelheim (Canada) Ltd. in roles of increasing responsibility, most recently as Director, Preclinical ADMEPK/Pharmacology. He has authored more than 50 papers that have appeared in peer-reviewed journals and holds three patents. Dr. Duan received a B.Sc. in Biology from Shandong Normal University and a PhD in Pharmacology from Dalhousie University.

 

Thomas Grizzle is an experienced toxicologist, specializing in pharmacokinetics; safety pharmacology; absorption, distribution, metabolism, and excretion (ADME); bioanalytical chemistry; project management; and report writing. Before joining Bright Minds, Mr. Grizzle was a successful consultant, advising clients across these critical domains and helping them achieve successful outcomes. Prior to establishing his consultancy, he was a Senior Toxicologist at Icagen, Inc. and Triangle Pharmaceuticals. He received an MS in Physiology/Biochemistry from North Carolina State University and holds Diplomate Certifications in General Toxicology and Safety Pharmacology.

 

Krista Lanctot, PhD, is a Senior Scientist at Sunnybrook Research Institute and a professor of psychiatry and pharmacology at the University of Toronto. Her research interests include optimizing the treatment of neuropsychiatric symptoms associated with illness, including mood changes, apathy, aggression, and cognitive changes. Dr. Lanctot’s broad experience includes running clinical trials for cognitive and neuropsychiatric symptoms associated with dementia, including neuropsychiatric symptoms secondary to central nervous system pathology; neuroimaging, serum protein, lipid and metabolite biomarkers; and medical, dietary and exercise interventions. Dr. Lanctot’s work focuses on determining the underlying neurobiology of neuropsychiatric symptoms, examining predictors of treatment response, using novel pharmacological agents, and carefully considering adverse drug events. Dr. Lanctot received a BSc in Pharmacology and Toxicology, an MS in Clinical Pharmacology and a PhD in Clinical Pharmacology from the University of Toronto.

 

About Bright Minds

 

Bright Minds is focused on developing novel transformative treatments for neuropsychiatry disorders, epilepsy and pain. Bright Minds has a portfolio of next generation serotonin agonists designed to precisely target abnormalities in neurocircuitry that lead to dysfunctional behaviors. The Company is developing targeted therapies with the potential to improve the treatment of mental health and neurological disorders through the use of serotonergic compounds leveraging its world class scientific and drug development expertise to bring forward the next generation of safe and efficacious drugs. Bright Minds’ drugs extenuate the therapeutic aspects of psychedelic and other serotonergic compounds while minimizing the side effects thereby creating superior drugs to first-generation compounds, such as psilocybin.

 

Forward-Looking Statements

This news release contains forward-looking statements, including statements regarding the date of listing of the Shares and the advancement of the Company’s drug development program, 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.

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, and which are described in the Company’s public filings available under its profile at www.sedar.com. 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 does not intend to update any of the included forward-looking statements except as required by Canadian securities laws.

 

Investor Contact:
Judy DiClemente
jdiclemente@insitecony.com

Originally published on globenewswire.com

Posted on

MINDCURE Announces Partnership with SOMA Breath Inc. to License its Breathwork Program and Develop Custom Breathwork for Psychedelic-Assisted Psychotherapies within iSTRYM

Breathwork has shown promise at both replicating the experience of psychedelics and helping patients to integrate psychedelic-assisted psychotherapy into their lives

VANCOUVER, BC, April 27, 2021 /CNW/ – Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“MINDCURE” or the “Company”) a leader in advanced proprietary technology for psychedelic therapy, is pleased to announce that it has entered into a partnership and licensing agreement with SOMA Breath Inc. (“SOMA Breath”). The term breathwork refers to breathing exercise techniques that manipulate the depth and rate of breath, and SOMA Breath is a global school that combines ancient breathwork techniques based on pranayama with modern science.

MINDCURE will license SOMA Breath’s 21-day mental health-designed breathwork program and will also build a custom breathwork track targeted towards psychedelic-assisted psychotherapies, both within iSTRYM, its psychedelics digital therapeutics platform. SOMA’s breathwork programs have been proven to help patients manage stress and reduce anxiety, and have been shown to produce brainwave activity in patients comparable to the effect of psychedelics.1 MINDCURE intends to create opportunities for therapists and patients to utilize SOMA Breath breathwork programs to foster psychedelic-like experiences without the need for psychedelics themselves, while also enhancing the effectiveness of post-session integration for psychedelic-assisted psychotherapies.

With existing partnerships to develop technology integrations and custom services in place with Speak Ai, LUCID and now Soma Breath, MINDCURE is building iSTRYM into the go-to resource that therapists and patients will turn to for science-backed, personalized mental health support at scale. The Company anticipates a late July release of the beta version of the iSTRYM application and platform.

“We think it is important to give individuals options in building their mental wealth, both when they are engaged in psychedelic-assisted psychotherapy as well as when they are not and are simply seeking better mental performance,” said Kelsey Ramsden, MINDCURE President and CEO. “SOMA Breath’s validated techniques and protocols will enable therapists to design psychedelic-like treatments without the need for actual psychedelics, and also to enhance the effectiveness of post-session integration, which is a key area of focus for us within iSTRYM.”

“At SOMA Breath, we have seen firsthand the transformational power of breathwork, and are eager to bring our scientifically-validated program into iSTRYM for therapists and patients around the world, and to work alongside MINDCURE to further the connection between breathwork and psychedelic-like experiences,” said Niraj Naik, the Founder and CEO of SOMA Breath. “We believe that the breath is the key to unlocking peak performance and also can serve an important role in the treatment of many debilitating mental health illnesses, and it can be accessed anywhere, by anyone, at any time.”

Dr. Jeff Tarrant, the founder of the Neuro Meditation Institute in Eugene, Oregon,2 studied the impact of SOMA Breath breathwork techniques on the brain, and then compared the results with available research on traditional psychedelics. The results showed that breathwork meditation is able to produce similar experiences to those of traditional psychedelics.3

_______________________

1

https://www.counselling-directory.org.uk/blog/2020/10/23/how-breathwork-can-help-to-manage-stress-and-anxiety

2

https://www.neuromeditationinstitute.com/about-nmi

3

https://www.somabreath.com/wp-content/uploads/2019/10/Can-Breathing-Be-a-Psychedelic-1.pdf

About SOMA Breath Inc.

SOMA Breath’s overall mission is to empower people with knowledge, tools, and techniques to make positive and lasting change in their lives. SOMA Breath techniques have the power to transform someone even down to a cellular level. SOMA Breath, considered as a whole, with its range of possible uses and applications, is a framework for total life transformation.

SOMA Breath is a complete holistic system of Pranayama techniques, which can be arranged into different sequences depending on the type of workshop you are attending as well as tailored to your specific needs. There is no one size fits all, and we take into account the fact that everyone is different and requires different breathing techniques depending on their needs. SOMA Therapeutic Breathwork techniques are the core Pranayama techniques that have the most scientific evidence to support their function.

About iSTRYM™ Digital Therapeutics

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. iSTRYM enhances therapy by bringing together a variety of healing solutions, such as convenient user dashboards, integrative music, guided breathwork, intelligent language processing, secure data analysis, and more.

Offering real-world data in real-time, iSTRYM enables clinicians and their clients access to personalized technology that provides AI-driven data insights for improved clinical outcomes. From mindful integrative content to a repository of world-class treatment plans, iSTRYM provides the best in psychedelic therapy software. iSTRYM drives personalized, quantified and best-in-class outcomes in psychedelic therapy, making Mental Wealth™ accessible.

The Company also announces it has granted a total of 50,000 stock options to certain employees pursuant to the terms the Company’s incentive stock option plan (“Plan”). The stock options are exercisable at a price of $0.60 per share and subject to the terms of the Plan.

About Mind Cure Health (MINDCURE) Inc.

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

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

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

Forward-Looking Information

Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: SOMA Breath developing custom breathwork for MINDCURE; MINDCURE licensing SOMA Breath’s existing 21-day mental health designed breathwork program; iSTRYM will meet its target beta release of late July 2021; SOMA Breath’s programs enabling therapists to design psychedelic-like treatments without the need for actual psychedelics; and SOMA Breath’s programs helping patients to integrate post-therapy session.

Forward-looking information is based on a number of key expectations and assumptions made by 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 the functional mushroom industry will continue to grow; SOMA Breath will develop a custom breathwork track for iSTRYM; iSTRYM’s beta version will be ready by late July, 2021; breathwork will help patients to manage stress and reduce anxiety; MINDCURE will create opportunities for therapists and patients to utilize breathwork programs to foster psychedelic-like experiences without the need for psychedelics; and that breathwork will enhance post-session integration for patients; and MINDCURE will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what MINDCURE believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.

Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the impacts of the COVID-19 pandemic on the Canadian economy, MINDCURE’s industry and MINDCURE’s business, which may negatively impact, and may continue to negatively impact, MINDCURE and may materially adversely affect MINDCURE’s investments, results of operations, financial condition, and MINDCURE’s ability to obtain additional equity or debt financing, and satisfy its financial obligations; general economic conditions; future growth potential; competition for mental health and wellness investments; SOMA Breath may not develop a custom breathwork track for iSTRYM; iSTRYM’s beta version may not be ready by late July, 2021; breathwork may not help patients to manage stress and reduce anxiety; MINDCURE may not create opportunities for therapists and patients to utilize breathwork programs to foster psychedelic-like experiences without the need for psychedelics; breathwork may not enhance post-session integration for patients; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. Additional information on the risk factors that could affect MINDCURE can be found under “Risk Factors” in MINDCURE’s final prospectus which is available on SEDAR at www.sedar.com.

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

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

SOURCE Mind Cure Health Inc.

For further information: Connect: Investor Relations: investors@mindcure.com, 1-888-593-8995; Jonathan L. Robinson, CFA, Partner, Oak Hill Financial Inc., jrobinson@oakhillfinancial.ca, 416-669-1001

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Lobe Sciences Enters into Joint Venture with Virtual Psychedelics Incorporated to Develop Multi-Sensory Pods for Clinical Psychedelic Use

Development of Krysalis(TM) Therapeutic Pod to Deliver Headset-free Virtual Experience with Biometric Monitoring

Vancouver, British Columbia–(Newsfile Corp. – April 27, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce that it has entered into an agreement dated April 26th, 2021 with Virtual Psychedelics Incorporated (“VPI“) and certain industry-leading pioneers, including Hollywood director Brett Leonard and researcher and USC professor Dr. Skip Rizzo, with respect to the joint design, development and commercialization of a new psychedelic/virtual experience (“VX”) pod (the “KrysalisTM Pod”). The KrysalisTM Pod will be designed to be powered by a custom tech stack incorporating advanced display technology and state-of-the-art bio-monitoring with the  goal of  improving  psychedelic therapy by optimizing  set,  setting  and  the overall experience for clinical and other uses. The KrysalisTM Pod will be designed as a headset-free, virtual experience that  uses multi- sensory stimulation to create an application that can offer treatment options for cognitive, psychological, motor and functional impairments across a wide range of clinical health conditions.

Philip Young, CEO and director of Lobe, commented: “Lobe is extremely pleased to partner with industry veterans such as Brett Leonard and Dr. Skip Rizzo, to be at the forefront of psychedelic research, development and treatment. We believe this technology will be able to assist those suffering from depression, PTSD and other mental health issues. The KrysalisTM Pod is being designed as a therapeutic system capable of delivering an easy, immersive media experience, while simultaneously collecting critical biometric data in a safe and monitored environment.”

Dr. Albert “Skip” Rizzo

 

Dr. Skip Rizzo’s work in clinical virtual reality (“VR”) has been used over the last 20 years for treating veterans with PTSD, assessing children with ADHD, and for reducing social anxiety in persons on the autism spectrum. Dr. Rizzo is the author of over 300 peer-reviewed publications and has been the winner of 30 awards and distinctions, largely in the space of VR for mental health. Dr. Rizzo is a research professor at the University of Southern California’s Keck School of Medicine, Department of Psychology and Behavioral Sciences and Director for Medical Virtual Reality at the Institute for Creative Technologies. Further information about Dr. Rizzo is available at https://ict.usc.edu/profile/albert-skip-rizzo/.

Brett Leonard

 

Hollywood director Brett Leonard is a thought-leader and sought-after speaker in the VR industry, and is credited with helping to popularize VR in the early 1990s through sci-fi classics like Lawnmower Man and Virtuosity. Brett was named by the Producer’s Guild of America as one of its “Digital 25” (among other digital media leaders including James Cameron, Ridley Scott and Mark Zuckerberg), which recognizes the contributions of leading visionaries, innovators and producers to the advancement of storytelling through digital media. Brett has remained on the forward-edge of virtual cinematic storytelling with his new VX World-Building/Transmedia production shop, Studio Lightship, co-founded with social network/transmedia pioneer Josh Shore.

Terms of the Agreement

 

The joint venture will be operated under a company to be owned 50% by Lobe and 50% by VPI and expected to be called Krysalis VX Corp. (“Krysalis VX“), or such other name as may be agreed by the parties. Krysalis VX will be operated by an experienced management team comprised of Josh Shore (Chief Executive Officer) and the other principals of VPI, namely Brett Leonard, Dr. Albert (Skip) Rizzo and William Alfonso (together, the “VPI Principals“).

Under the terms of the agreement pursuant to which Krysalis VX will be governed, Lobe and VPI will have equal rights of representation on the board of Krysalis VX, with VPI and its principals contributing its experienced management expertise, while Lobe will contribute US$250,000 in cash as well as issue 5,000,000 common shares of Lobe, at a deemed price per share of CAD$0.20. The Lobe shares will be sold (subject to applicable hold periods and certain agreed restrictions on sale) in order to generate cash to fund Krysalis VX’ initial business expenditures. Lobe has also committed to providing US$1,500,000 to Krysalis VX pursuant to a secured line of credit, which will

 

only be drawn when the initial funding contributions are expended and after Krysalis VX has detailed plans to file provisional patents relating to the business.

 

In connection with the agreement, each of the VPI Principals will be granted 150,000 non-transferable common share purchase warrants of Lobe, exercisable for a period of two years from the date of issuance at a price of $0.20 per share. Lobe will also issue 500,000 common shares to certain finders in connection with the transaction, at a deemed price of $0.20 per share. All Lobe securities issued or issuable will be subject to a statutory hold period of four months and a day from the date of issuance and, as applicable, resale restrictions required under U.S. securities laws.

 

The securities described in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements.

About Lobe Sciences Ltd.

 

Lobe is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry-leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

For further information please contact:

 

Lobe Sciences Ltd. Philip J. Young, CEO info@lobesciences.com Tel: (949) 505-5623

 

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED, AND DOES NOT ACCEPT RESPONSIBILITY FOR, THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward Looking Statements

 

This news release contains forward-looking statements relating to the future operations of the Company 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, including statements regarding the future plans and objectives of the Company, its joint venture with VPI regarding Krysalis VX and the technology expected to be developed and commercialized, including systems, treatments and benefits thereof, statements regarding research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness, 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. Readers are cautioned that assumptions used in the preparation of the forward-looking statements 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, including that the expected benefits to be derived from the joint venture with VPI may not materialize as expected, including that Krysalis VX may be unsuccessful in designing and commercializing the KrysalisTM Pod and/or the risk that the Company may not realize a return on its investment in Krysalis VX; risks relating to changes to the regulatory environment; that the Company’s drug research and development activities may be unsuccessful; that drugs, therapeutic systems and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company’s corporate goals and objectives; and other risk factors detailed in the Company’s continuous disclosure filings from time to time, as available under the Company’s profile at www.sedar.com. As a result, the Company cannot guarantee that any forward-looking statement will materialize as expected, and the reader is cautioned not to place undue reliance on any forward-looking information. 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 only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable securities laws.

4/27/2021 4:39:00 PM

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Mindset Pharma Invited to Present at H.C. Wainwright “Psychedelics in Psychiatry and Beyond” Virtual Conference

Toronto, Ontario–(Newsfile Corp. – April 26, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“) is pleased to announce that it has been invited to present at the H.C. Wainwright “Psychedelics In Psychiatry and Beyond” Virtual Conference being held on June 17, 2021.

James Lanthier, CEO of Mindset, commented, “Mindset is pleased to be invited to present at H.C. Wainwright’s conference. Mindset has expanded its next generation drug program to four distinct families of novel, patent-pending compounds with the goal of creating optimized therapeutics for a range of treatment modalities and indications. We are excited to share the Mindset story with a broader investor audience and thank H.C. Wainwright for the invitation.”

In addition, the Company announces that the Company’s board of directors have approved the settlement of an aggregate of $113,000 of indebtedness (the “Debt Settlement“) to a certain arm’s length creditor of the Company, such that the Company proposes to issue 176,562 common shares (each a “Common Share“) of the Company at a deemed price of $0.64 per Common Share in full and final satisfaction of such indebtedness. The issuance of the Common Shares in connection with the Debt Settlement is subject to approval of the Canadian Securities Exchange. All securities issued in connection with the Debt Settlement will be subject to a statutory hold period of four months and one day from the date of issuance.

The Company would also like to announce the launch of a new comprehensive investor communications program pursuant to which the Company has engaged CDMG Inc., to develop and execute the investors communications program and to provide marketing services focusing on North America.

For further information, along with a video overview of Mindset, please visit our website at: www.mindsetpharma.com.

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
Chief Executive Officer
jlanthier@mindsetpharma.com

Jason Atkinson
Corporate Development
jatkinson@mindsetpharma.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 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 along with its own proprietary compounds.
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. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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