Bright Minds Biosciences (DRUG) announced that its drug discovery program has synthesized hundreds of patentable psychedelic compounds. Researchers are optimizing the most encouraging molecules and aim to announce the lead molecule early next year.
Vancouver, BC – November 3, 2021 – Bright Minds Biosciences (“Bright Minds,” “BMB” or the “Company”) (Nasdaq: DRUG) (CSE: DRUG), a biotechnology company focused on developing novel drugs for targeted treatment of neuropsychiatric disorders, epilepsy and pain, today announced that The Nasdaq Stock Market LLC has approved the listing of the Company’s common stock on The Nasdaq Capital Market (“Nasdaq”). Effective November 8, the shares will commence trading under the ticker symbol “DRUG.” Bright Minds will continue to maintain the listing of its Shares on the Canadian Stock Exchange (“CSE”) under the symbol “DRUG.”
“Our listing on Nasdaq marks an important corporate milestone for Bright Minds, as we continue to advance our innovative drug candidates in pursuit of an improved generation of targeted serotonin-based therapies,” stated Ian McDonald, CEO and Co-founder of Bright Minds Biosciences. “With encouraging preclinical data across several indications, we are progressing toward first-in-human trials with our lead drug candidate, BMB-101, for the treatment of Dravet syndrome, a devastating congenital and genetic disease affecting the nervous system. We expect to commence the trials in the first half of 2022.”
“Bright Minds is also committed to delivering significant returns to our shareholders. Trading on the world’s most liquid market in which all investors can participate helps us continue to actualize that objective. We look forward to continuing to work closely with all our key constituents – scientific, medical, and the capital markets – to bolster our excellent competitive positioning,” concluded Mr. McDonald.
About Bright Minds
Bright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy and pain. Bright Minds has a portfolio of next-generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult to treat disorders such as resistant epilepsy, treatment resistant depression, PTSD, and pain. The Company leverages its world-class scientific and drug development expertise to bring forward the next generation of safe and efficacious drugs. Bright Minds’ drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first-generation compounds, such as psilocybin.
About BMB-101
BMB-101, a 5-HT2C selective and biased agonist, has demonstrated compelling activity in a host of in-vitro and in-vivo non-clinical tests. Compared to Locaserin, BMB-101 exhibits strong Gq signaling coupled with minimal Arrestin recruitment. Mechanistically, Serotonin (5- Hydroxytryptamine, 5-HT) is a monoamine neurotransmitter widely expressed in the central nervous system, and drugs modulating 5-HT have made a major impact in mental health disorders. Central 5-HT systems have long been associated with the control of ingestive behavior and the modulation of behavioral effects of psychostimulants, opioids, alcohol and nicotine. Over the past decade, the various 5-HT receptor subtypes have been cloned and characterized. Results of clinical trials and animal studies indicate that 5-HT2C up receptor agonists may have therapeutic potential in the treatment of addiction by decreasing the intake of opioids as well as impulsive behavior that can escalate compulsive drug use.
About Dravet Syndrome
Dravet syndrome is an epilepsy syndrome that begins in infancy or early childhood and can include a spectrum of symptoms ranging from mild to severe. Children with Dravet initially show focal (confined to one area) or generalized (throughout the brain) convulsive seizures that start before 15 months of age (often before age one). These initial seizures are often prolonged and involve half of the body, with subsequent seizures that may switch to the other side of the body. These initial seizures are frequently provoked by exposure to increased temperatures or temperature changes, such as getting out of a bath. Other seizure types emerge after 12 months of age and can be quite varied. Status epilepticus – a state of continuous seizure requiring emergency medical care – may occur frequently in these children, particularly in the first five years of life. Dravet syndrome affects an estimated 1:15,700 individuals in the U.S., or 0.0064% of the population (Wu 2015). Approximately 80-90% of those, or 1:20,900 individuals, have both an SCN1A mutation and a clinical diagnosis of DS. This represents an estimated 0.17% of all epilepsies.[1] As an area of high, unmet medical need, there currently exist only three FDA-approved medications for the treatment of DS: (1) Fintepla® (fenfluramine), which has a black-box label; (2) Diacomit® (stiripentol) and (3) Epidolex® (cannabidiol).[2]
Forward-Looking Information and Additional Cautionary Language
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. This news release uses words such as “may,” “would,” “could,” “likely,” “expect,” “anticipate,” “believe,” “intend,” “plan,” “forecast,” “project,” “estimate,” “outlook,” and other similar expressions to identify forward-looking information. The forward-looking statements and information in this news release include information relating to the Company’s progress towards first-in-human trials and the advancement of the Company’s drug candidates. Forward-looking information involves significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements and accordingly, should not be read as guarantees of future performance or results. Assumptions used to develop the forward-looking information in this news release includes the assumption that the development and testing of the Company’s drug candidates, operations, market, marketing plans and strategies, competitive conditions, future developments, and proprietary protections continue as projected.
Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking information in this news release and, accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligations to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.
Investor Contacts:
Lisa Wilson
Founder & President
In-Site Communications, Inc.
489 Fifth Avenue, 29th Floor
New York, NY 10017
E: lwilson@insitecony.com
Josh Blacher
Vice President, Corporate Development
Bright Minds Biosciences, Inc.
19 Vestry Street
New York, NY 10013
E: josh@brightmindsbio.com
Vancouver, BC – June 16, 2021 – Bright Minds Biosciences (“Bright Minds,” “BMB” or the “Company”) (CSE: DRUG) (OTCQB: BMBIF), a biotechnology company focused on developing novel transformative treatments for neuropsychiatry disorders, epilepsy, and pain, is pleased to announce that it has submitted an application to list on The Nasdaq Stock Market (“Nasdaq”). The Company has reserved the right to trade under the symbol “DRUG.”
Commenting on the plans for the Nasdaq listing, Ian McDonald, Chief Executive Officer of Bright Minds, said, “We believe that this is an ideal time for Bright Minds to announce its plans to move to a leading national stock exchange. Serotonergic therapeutics have gained considerable traction and are on the cusp of an exciting revolution in medicine. BMB is already moving to the clinic with a patented 5-HT2C drug for use in epilepsy. Moreover, having developed a robust pipeline of novel, best-in-class 5-HT2A/2C (serotonin) agonists that refine and build on the first-generation natural compound approaches, Bright Minds has laid a solid foundation to become the front runner in psychedelic-drug inspired medicine. We are very excited to list on the Nasdaq and see it as a critical step in our evolution as a public company. The additional capital markets exposure will elevate our company profile with the biotechnology investment community, broaden and diversify our investor base, and most importantly, continue to support our efforts to design and develop next-generation therapeutics that address difficult-to-treat indications across mental health disorders, epilepsy and pain management.”
In advance of an anticipated listing on Nasdaq, Bright Minds has filed a Registration Statement with the United States Securities and Exchange Commission. The listing of Common Shares on Nasdaq remains subject to the review and approval of the listing application and the satisfaction of all applicable listing and regulatory requirements, as well as the effectiveness of the registration statement. Bright Minds will continue to maintain the listing of its Shares on the Canadian Stock Exchange under the symbol “DRUG.”
Bright Minds also announced that it has granted an aggregate of 180,000 stock options (the “Options”) to a director and a consultant of the Company to purchase 180,000 common shares (the “Shares”) in the capital of the Company pursuant to the Company’s share option plan. The Options are exercisable at an exercise price of $7.60 per Share for a period of five (5) years from the date of grant. The Options are subject to vesting periods over the course of the term of the Options.
The securities of the Company referred to 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”), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
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.
Investor Contact:
Judy DiClemente
jdiclemente@insitecony.com
212-452-2793
Vancouver, British Columbia –June 14, 2021 – Bright Minds Biosciences (“Bright Minds,” “BMB” or the “Company”)(CSE: DRUG) (OTCQB: BMBIF), a biotechnology company focused on developing novel transformative treatments for neuropsychiatry disorders, epilepsy and pain, today announced a new appointment to its Board of Directors and one addition to its leadership team:
“We are pleased to welcome Dr. Emer Leahy to the Bright Minds Biosciences Board. Her deep experience and track record of success in business development for pharmaceutical and biotechnology companies will help guide our drug development plans. We are also excited about the addition of Dr. Tom Lategan, whose extensive background in regulatory affairs will be an important asset to our team. We look forward to their insights as we continue to advance our programs to bring improved and targeted therapeutics to the patients who can benefit,” stated Ian McDonald, Chief Executive Officer of Bright Minds.
Emer Leahy, Ph.D., MBA, has over 30 years of experience in drug discovery, as well as clinical and business development for pharmaceutical and biotechnology companies. Dr. Leahy brings a wealth of knowledge in technology assessment, licensing, mergers and acquisitions, and strategic planning. Currently, Dr. Leahy serves as the CEO of PsychoGenics, Inc., a profitable preclinical CNS service company, and PGI Drug Discovery, LLC, a company engaged in psychiatric drug discovery. Previously, she served on the Emerging Companies Section Governing Board for the Board of Directors of the Biotechnology Industry Organization (“BIO”), and currently serves on the Board of Directors of Intensity Therapeutics, the Business Review Board for the Alzheimer’s Drug Discovery Foundation, and the Scientific Advisory Board of the International Rett Syndrome Foundation. She received her Ph.D. in Neuropharmacology from University College Dublin, Ireland, and her MBA from Columbia University.
Tom Lategan, Ph.D., has more than 20 years of experience in the pharmaceutical industry, across large-capitalization and start-up companies. Most recently, Dr. Lateganserved as the Vice President of Regulatory Affairs for Banner Life Sciences. Prior to that, he served as the Vice President of Regulatory Affairs and Head of Clinical Operations at NeurAxon, Inc. He previously held positions of increasing responsibility in regulatory and medical affairs with Actelion, The Medicines Company, and Hoffman-La Roche. He received a D.Phil from Oxford University and a B.Sc. in pharmacology from Aberdeen University in Scotland.
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
212-452-2793
Originally published on globenewswire.com
Vancouver, BC – June 11, 2021 – Bright Minds Biosciences (“Bright Minds,” “BMB” or the “Company”) (CSE:DRUG)(OTCQB:BMBIF), a biotechnology company focused on developing novel transformative treatments for neuropsychiatry disorders, epilepsy and pain, today announced that Ian McDonald, Chief Executive Officer, and Dr. Gideon Shapiro Ph.D, Vice President of Discovery,will be presenting at the H.C. Wainwright Virtual Conference Psychedelics in Psychiatry and Beyond, as follows:
Date: Thursday, June 17, 2021
Time: On demand, beginning at 7:00AM ET
Webcast: https://journey.ct.events/view/bb74a476-165a-434c-9dae-e21e74792148
The presentation will be webcast beginning at the aforementioned time and available for 7 days thereafter using the link provided above.
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 agonistsdesigned to precisely target abnormalities in neurocircuitry that lead to dysfunctional behaviors. The Companyis 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.
Investor Contact:
Judy DiClemente
jdiclemente@insitecony.com
Originally published on globenewswire.com
VANCOUVER, British Columbia, June 09, 2021 (GLOBE NEWSWIRE) — Bright Minds Biosciences (“Bright Minds,” “BMB” or the “Company”) (CSE:DRUG) (OTCQB:BMBIF), a biotechnology company focused on developing novel transformative treatments for neuropsychiatry disorders, epilepsy and pain, today announced that Ian McDonald, Chief Executive Officer, and Dr. Gideon Shapiro Ph.D, Vice President of Discovery, will be presenting at the 2021 LD Micro Invitational XI, as follows:
| Date: | Thursday, June 10, 2021 |
| Time: | 12:30PM Eastern Time |
| Webcast: | https://ldmicrojune2021.mysequire.com/ |
The presentation will be webcast live at the aforementioned time and available for 7 days thereafter using the link provided above.
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.
Investor Contact:
Judy DiClemente
jdiclemente@insitecony.com
VANCOUVER, British Columbia, May 17, 2021 (GLOBE NEWSWIRE) — Bright Minds Biosciences (“Bright Minds,” “BMB” or the “Company”) (CSE:DRUG) (OTCQB:BMBIF), a biotechnology company focused on developing novel transformative treatments for neuropsychiatry disorders, epilepsy and pain, today announced that its shares will commence trading on the OTCQB® Venture Market (the “OTCQB”) on May 17, 2021, under the symbol “BMBIF.”
Operated by OTC Markets Group Inc., the OTCQB is designed for early-stage and developing U.S. and international companies. Companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. The OTCQB has rigorous compliance and quality standards, thus providing investors improved visibility to enhance trading decisions. The OTCQB is recognized by the United States Securities and Exchange Commission (“SEC”) as an established public market providing public information for analysis and value of securities.
“Acceptance to the OTCQB is an important step in our company’s growth trajectory, and we are excited for the opportunity to build visibility, increase liquidity and diversify our shareholder base. This additional capital markets exposure will support our efforts to design and develop next-generation therapeutics to address difficult-to-treat indications across mental health disorders and pain management. We are also in the process of listing on a tier-one U.S.-based exchange,” stated Ian McDonald, Chief Executive Officer of Bright Minds.
The Company will continue to trade on the Canadian Stock Exchange (“CSE”) under the ticker “DRUG.”
The Company further announced that it has entered into a debt settlement agreement with a service provider (the “Creditor”) to settle an aggregate of CAD$36,600 in debt (the “Debt”). In settlement of the Debt, the Company will issue an aggregate of 6,100 common shares in the capital of the Company (the “Debt Shares”) at a deemed price of CAD$6.00 per Debt Share (the “Debt Settlement”).
All securities issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Closing of the Debt Settlement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals.
The securities of the Company referred to 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”), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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.
Investor Contact:
Judy DiClemente
E: jdiclemente@insitecony.com
T: (212) 452-2793
Originally published on globenewswire.com
Vancouver, British Columbia, May 4, 2021 – Bright Minds Biosciences Inc. (CSE:DRUG) (“Bright Minds” or the “Company”) announces that it has granted an aggregate of 240,000 stock options (the “Options”) to consultants of the Company to purchase 240,000 common shares (the “Shares”)in the capital of the Company pursuant to the Company’s share option plan. The Options are exercisable at an exercise price of $7.60 per Share for a period of five (5) years from the date of grant. The Options are subject to vesting periods over the course of the term of the Options.
About Bright Minds
Bright Minds is a pre-clinical biosciences company with a portfolio of compounds designed to precisely target abnormalities in neurocircuitry that lead to dysfunctional behaviors. Bright Minds is focused on 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 neuropsychiatry drugs into the clinic. 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. Bright Minds was selected to participate in two National Institutes of Health (“NIH”) Programs. These NIH collaborations are evaluating Bright Minds serotonin agonists for therapeutic potential in pain and in epilepsy.
Investor Contact:
Judy DiClemente
jdiclemente@insitecony.com
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.
The securities of the Company referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.
