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NeonMind Reports Business Highlights on Partnership Activities, Clinical Pipeline and Corporate Developments

NeonMind Reports Business Highlights on Partnership Activities, Clinical Pipeline and Corporate Developments

– Completed concrete milestones in its strategy to become a leading psychedelic drug developer and specialty clinics operator.

– Developed clear drug development pathway for NEO-001, the industry’s first psilocybin-based obesity treatment with near-term clinical milestones.

– Partnered with well-established specialty treatment providers, SRx Health Solutions and BioScript Solutions to build out a network of NeonMind-branded specialty mental health clinics across Canada

OAKVILLE, ON / ACCESSWIRE / March 10, 2022 / NeonMind Biosciences Inc. (CSE:NEON)(OTCQB:NMDBF)(FRA:6UF) (“NeonMind” or the “Company“), an integrated drug development and wellness company focused on bringing innovative psychedelic-based treatments to people suffering from obesity and mental health disorders, today provided a summary of business highlights on the Company’s activities and progress across its Pharmaceutical and Medical Services Divisions.

Pharmaceutical Division Highlights

  • Successfully completed a pre-Investigational New Drug (pre-IND) consultation with the U.S. Food and Drug Administration (FDA) regarding proposed clinical trials for NeonMind’s lead obesity drug candidate, NEO-001. The Company expects to file its IND application in the first half of 2022 and initiate a Phase 1/2 clinical study during the course of this year.
  • Filed four new provisional patent applications with the United States Patent and Trademark Office to protect NeonMind’s proprietary data derived from the Company’s initial preclinical trial examining the potential use of psilocybin as a treatment for weight loss.
  • Completed an integrated drug development plan for its lead drug candidate targeting obesity, NEO-001, a high-dose psilocybin treatment coupled with behavioral therapy and lifestyle intervention, aimed to improve the efficacy of chronic weight management in adults.
  • Established a Research and Development Advisory Board and expanded NeonMind’s team with regulatory experts to successfully execute its integrated drug development plan and streamline its corporate structure for capital efficiencies.
  • Appointed drug development executive Philippe Martin as Chairman of the Company’s Research and Development Advisory Board.

Medical Services Division Highlights

“We made significant progress in our corporate transformation to become a psychedelic drug developer and specialty mental health clinics operator,” said Robert Tessarolo, President & CEO of NeonMind. “Our strategic focus provides near-term revenue generation and a proprietary groundbreaking treatment for obesity, both of which provide exposure to exciting and novel treatments for mental health and wellness. We now have a clear drug development pathway to bring NEO-001, the first and only psychedelic-based treatment for obesity, into clinical trials. Additionally, our strategic alliances with SRx and BioScript will enable us to quickly establish a network of NeonMind-branded specialty mental health clinics across Canada. As the psychedelic industry continues to undergo rapid expansion, we are well positioned to execute on our growth strategy and develop innovative therapeutic uses for psychedelic compounds to treat weight management conditions and mental health disorders.”

Corporate Highlights

  • The Company’s common shares, listed on the OTCQB Venture Market, became eligible for electronic clearing and settlement through the Depository Trust Company (“DTC”) in the United States.
  • Completed divestiture of assets related to its consumer division, including e-commerce operations and underlying functional food assets, as well as shares owned in Translational Life Sciences Inc. for a combined consideration of approximately C$1.1 million plus royalty. In connection with the divestiture of the consumer division, Amber Allen has resigned as Vice President of Sales, effective January 17, 2022.
  • Launched a new website at www.neonmindbiosciences.com.
  • As a result of NeonMind’s growing specialty clinic operations, the Company has established its new headquarters in Oakville, Ontario. The full address is 295 Robinson Street, Suite 100, Oakville, ON L6J 1G7.

About NeonMind Biosciences Inc.

NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of psychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) a medical services division focused on launching specialty mental health clinics that integrate psychedelic therapeutics into traditional psychotherapy settings.

In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. NeonMind’s lead candidate, NEO-001, employs psilocybin as an agonist at the serotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company’s second drug candidate, NEO-002, employs low-dose psilocybin as an agonist at the 5-HT2C receptor, which controls appetite.

NeonMind and its strategic partners are building NeonMind-branded specialty mental health clinics in Canada that incorporate evidence-backed innovative treatments to address a variety of mental health needs. For more information on NeonMind, go to www.NeonMindBiosciences.com.

Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.
rob@neonmind.com
Tel: 416-750-3101

Investor Relations:
KCSA Strategic Communications
Scott Eckstein/Tim Regan
neonmind@kcsa.com
Tel: 212-896-1210

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or NeonMind’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”,”estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on NeonMind’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, NeonMind’s drug development plans, its ability to retain key personnel, and its expectation as to the development of its intellectual property and other steps in its preclinical and clinical drug development constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

SOURCE: NeonMind Biosciences Inc.

View source version on accesswire.com:
https://www.accesswire.com/692368/NeonMind-Reports-Business-Highlights-on-Partnership-Activities-Clinical-Pipeline-and-Corporate-Developments

Released March 10, 2022

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NeonMind and BioScript Solutions Announce Strategic Partnership Expanding NeonMind’s Specialty Clinic Network for Interventional Psychiatry Treatments

NeonMind and BioScript Solutions Announce Strategic Partnership Expanding NeonMind’s Specialty Clinic Network for Interventional Psychiatry Treatments

VANCOUVER, BC / ACCESSWIRE / March 3, 2022 / NeonMind Biosciences Inc. (CSE:NEON)(OTCQB:NMDBF)(FRA:6UF) (“NeonMind” or the “Company“), an integrated drug development and wellness company focused on bringing innovative psychedelic-based treatments to people suffering from obesity and mental health disorders, announced today a strategic partnership with BioScript Solutions, a Canadian leader in specialty care. Under the terms of the partnership, NeonMind and BioScript Solutions will leverage BioScript Solutions’ extensive national network of community-based infusion clinics to expand access to NeonMind’s interventional psychiatry and unique treatment programs for Canadians.

Since 2001, BioScript Solutions’ clinical network has been providing patients with a safe, comfortable environment to receive specialty therapies for chronic health conditions. With over 100 conveniently located clinics across the country, run by a team of highly experienced nurses, BioScript remains committed to being at the forefront of innovative patient care. NeonMind expects to select and announce its first location within BioScript Solutions’ network in the first half of 2022. The Company expects to provide care through additional clinic locations throughout 2022, expanding to further locations and services in 2023 and beyond.

“We are thrilled to advance the development of our specialty clinics division through our partnership with BioScript Solutions,” said Robert Tessarolo, President & CEO of NeonMind. “We now have multiple strategic partnerships in place with leading specialty care providers and have built an enhanced clinic network with greater reach. This positions us well to identify and open high-impact clinic locations that will serve local community needs and expedite our time to market. We look forward to working with BioScript Solutions to bring the therapeutic benefits of interventional psychiatry including evidence-based innovative therapies such as psychedelic modalities to mental health patients across the nation.”

Commenting on the partnership, Chris Dalseg, Vice-President Strategic Growth and Marketing of BioScript Solutions, said, “This partnership with NeonMind is part of our ongoing mission to simplify access to specialty care for Canadians from coast to coast, and directly within their own communities. Mental health continues to be a growing global health concern, and we are thrilled to be able to continue expanding the breadth of our services supporting NeonMind’s novel approach to mental health treatments.”

About BioScript Solutions®

For over 20 years, BioScript Solutions has been committed to helping people with chronic illnesses achieve the best possible health outcomes. With our total care approach, we simplify access to complex drug therapies and deliver full-service specialty care solutions at every stage of the patients’ treatment journey. Through our logistics and distribution operations, specialty pharmacies, patient support programs and clinical services, BioScript Solutions® has the capability to manage the needs of manufacturers, payors, prescribers, and health care practitioners across Canada ― today, and tomorrow. To learn more, please visit www.bioscript.ca.

About NeonMind Biosciences Inc.

NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of psychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) a medical services division focused on launching specialty mental health clinics that integrate psychedelic therapeutics into traditional psychotherapy settings.

In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. NeonMind’s lead candidate, NEO-001, employs psilocybin as an agonist at the serotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company’s second drug candidate, NEO-002, employs low-dose psilocybin as an agonist at the 5-HT2C receptor, which controls appetite.

NeonMind and its strategic partners are building NeonMind-branded specialty mental health clinics in Canada that incorporate evidence-based innovative interventional psychiatry treatments to address a variety of mental health needs. For more information on NeonMind, go to www.NeonMindBiosciences.com.

Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.
rob@neonmind.com
Tel: 416-750-3101

Investor Relations:
KCSA Strategic Communications
Scott Eckstein/Tim Regan
neonmind@kcsa.com
Tel: 212-896-1210

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or NeonMind’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on NeonMind’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, NeonMind’s drug development plans, its ability to retain key personnel, and its expectation as to the development of its intellectual property and other steps in its preclinical and clinical drug development constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

SOURCE: NeonMind Biosciences Inc.

View source version on accesswire.com:
https://www.accesswire.com/691372/NeonMind-and-BioScript-Solutions-Announce-Strategic-Partnership-Expanding-NeonMinds-Specialty-Clinic-Network-for-Interventional-Psychiatry-Treatments

Released March 3, 2022

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NeonMind Appoints Emergency and Addiction Expert Dr. Dinesh Bhayana, as Site Medical Director of its Inaugural Specialty Mental Health Clinic

NeonMind Appoints Emergency and Addiction Expert Dr. Dinesh Bhayana, as Site Medical Director of its Inaugural Specialty Mental Health Clinic

VANCOUVER, BC / ACCESSWIRE / February 23, 2022 / NeonMind Biosciences Inc. (CSE:NEON)(OTCQB:NMDBF)(FRA:6UF) (“NeonMind” or the “Company“), an integrated drug development and wellness company focused on bringing innovative psychedelic-based treatments to people suffering from obesity and mental health disorders, announced today the appointment of Dr. Dinesh Bhayana, MD, CCFP (EM), as the Site Medical Director of its recently announced inaugural specialty clinic for interventional psychiatry, located in Mississauga, Ontario. Dr. Bhayana is the Chief Medical Officer of the Centre for Compassionate Care (C3), which offers specialized psychological services including Integrative Ketamine-Enhanced Psychotherapy, served as a Board Member for the Multidisciplinary Association for Psychedelic Studies (MAPS) Canada, and an Emergency and Addiction Medicine physician in several communities within the Greater Toronto Area.

NeonMind and Dr. Bhayana will work closely with medical leaders in NeonMind’s Specialty Clinics Advisory Board to set up the Company’s inaugural NeonMind specialty mental health clinic in Mississauga and leverage their clinical experience to meet regulatory licensing requirements and initiate treatment services this year.

“We are excited to welcome Dr. Bhayana as Site Medical Director of our first specialty clinic. Dr. Bhayana’s extensive training and clinical expertise is particularly well suited for delivering innovative, safe and effective mental health treatments to patients suffering from mood and anxiety disorders,” said Robert Tessarolo, President & CEO of NeonMind.

Dr. Bhayana’s combination of training and experience is complementary for overseeing the administration of innovative mental health treatments. Dr. Bhayana works closely with patients suffering from mental health disorders in his current clinical roles within the emergency department, addiction medicine clinic, and ketamine-enhanced psychotherapy program.

Dr. Bhayana holds various positions including active staff hospital privileges in the departments of Emergency Medicine and Psychiatry. He completed medical school at the Schulich School of Medicine and Dentistry, followed by family medicine and emergency medicine training at the University of Toronto. Dr. Bhayana is certified by the Canadian College of Family Physicians with an Emergency Medicine specialty designation and holds an adjunct Assistant Clinical Professor faculty appointment at McMaster University. He has also completed training in Ketamine Assisted Psychotherapy at the Polaris Insight Center and Ketamine Medical Provider training with the Integrative Psychiatry Institute (IPI).

Dr. Bhayana commented, “I am honored to be appointed as Site Medical Director of NeonMind’s inaugural specialty clinic. Despite the strengths of our Canadian healthcare system, major gaps still remain in access to evidence-based treatments. NeonMind’s team has a strong track record of deploying new medical treatments and a detailed understanding of working in partnership with the healthcare system to address local community needs. I look forward to working with them to ensure access to high quality care that is safe and effective.”

NeonMind’s inaugural specialty mental health clinic is located at 89 Queensway West, Suite 604, Mississauga, Ontario, L5B 2V2. More details will be released closer to the opening of the clinic. For more information related to NeonMind’s specialty clinics, please email medicalinformation@neonmind.com.

About NeonMind Biosciences Inc.

NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of psychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) a medical services division focused on launching specialty mental health clinics that integrate psychedelic therapeutics into traditional psychotherapy settings.

In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. NeonMind’s lead candidate, NEO-001, employs psilocybin as an agonist at the serotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company’s second drug candidate, NEO-002, employs low-dose psilocybin as an agonist at the 5-HT2C receptor, which controls appetite.

NeonMind and its strategic partners are building NeonMind-branded specialty mental health clinics in Canada that incorporate evidence-based innovative interventional psychiatry treatments to address a variety of mental health needs. For more information on NeonMind, go to www.NeonMindBiosciences.com.

Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.
rob@neonmind.com
Tel: 416-750-3101

Investor Relations:
KCSA Strategic Communications
Scott Eckstein/Tim Regan
neonmind@kcsa.com
Tel: 212-896-1210

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or NeonMind’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on NeonMind’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, NeonMind’s drug development plans, its ability to retain key personnel, and its expectation as to the development of its intellectual property and other steps in its preclinical and clinical drug development constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

SOURCE: NeonMind Biosciences Inc.

View source version on accesswire.com:
https://www.accesswire.com/689960/NeonMind-Appoints-Emergency-and-Addiction-Expert-Dr-Dinesh-Bhayana-as-Site-Medical-Director-of-its-Inaugural-Specialty-Mental-Health-Clinic

Released February 23, 2022

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NeonMind To Open Its Inaugural Specialty Mental Health Clinic In Mississauga, Ontario

NeonMind To Open Its Inaugural Specialty Mental Health Clinic In Mississauga, Ontario

Mississauga facility expected to begin treatment services in the Second Half of 2022 

First location selected as part of a nationwide buildout of NeonMind-branded clinics offering interventional psychiatry treatments

Vancouver, B.C. – February 17, 2022: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA: 6UF) (“NeonMind” or the “Company”), an integrated drug development and wellness company focused on bringing innovative psychedelic-based treatments to people suffering from obesity and mental health disorders, announced today it has signed an agreement with SRx Health Solutions (“SRx”) to open the Company’s inaugural NeonMind specialty mental health clinic, located at the Queensway Professional Medical Centre in Mississauga, Ontario. 

The Mississauga location is the first in NeonMind’s initiative to establish a national network of NeonMind-branded specialty clinics. These clinics will focus on delivering high-demand mental health treatments to underserved areas of Canada. The specialty services to be offered will incorporate innovative, evidence-based interventional psychiatric treatments for a variety of mood and anxiety disorders. The Mississauga clinic is expected to start seeing patients in the second half of 2022.

“Our first NeonMind specialty mental health clinic represents a significant milestone in our multi-pronged strategy to bring the therapeutic benefits of innovative, safe, and effective treatments to patients throughout Canada,” said Robert Tessarolo, President & CEO of NeonMind. “The demand for treatments to address depression and anxiety disorders in Ontario has grown significantly in recent years, yet there remains a supply bottleneck for newer modalities such as ketamine treatment and neurostimulation. Our strategic collaboration with SRx will enable us to purposefully and flexibly enhance access to these treatments for communities in need. We expect to launch additional clinic locations throughout the course of 2022 and beyond, as well as incorporate new treatments, such as psychedelics, as they are approved.”

The Mississauga location enables NeonMind to serve a rapidly growing patient population. Based on NeonMind’s internal estimates, the market for specialized medical services for mental health disorders in Ontario has grown at a CAGR of over 20% from 2017 to 2019. NeonMind’s specific Mississauga location serves an area of Ontario that has seen tremendous demand for specialized mental health services, representing approximately 10% of total demand in Ontario. Demand for specialized services in Mississauga has grown at a CAGR of over 30%, outpacing the overall Ontario market, based on NeonMind’s internal estimates from provincial medical data. 

Mr. Brock Clancy, Vice President of Patient Services and Operations at SRx Health Solutions, stated, “The Mississauga location will be a monumental step in enhancing accessibility to cutting-edge treatment solutions. As the fastest growing healthcare services provider in Canada, SRx is committed to making healthcare simple, helping improve the wellness of Canadians, and being a vehicle of innovative change in this space. We are thrilled by our collaboration with NeonMind and look forward to furthering our commitment and helping deliver this type of service to those in need.”

The Queensway Professional Medical Centre is a professional medical building that provides a full range of healthcare services, including a pharmacy and laboratory services, and is equipped with abundant parking facilities and accessibility options. The facility is located on major commuter routes and across from Trillium Health Partners – Mississauga Hospital. NeonMind’s first specialty clinic will provide exceptional, quality services including multiple private, spacious and comforting treatment rooms, as well as a fully-equipped waiting room for patients and caregivers.

NeonMind’s inaugural specialty mental health clinic is located at 89 Queensway West, Suite 604, Mississauga, Ontario, L5B 2V2. More details will be released closer to the opening of the clinic. For more information related to NeonMind’s specialty clinics, please email medicalinformation@neonmind.com.  

The Company also announces the resignation of Amber Allen as Vice President of Sales effective January 17, 2022, which was in connection with the divestiture of the NeonMind consumer division assets. 

About NeonMind Biosciences Inc.

NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of psychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) a medical services division focused on launching specialty mental health clinics that integrate psychedelic therapeutics into traditional psychotherapy settings.

In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. NeonMind’s lead candidate, NEO-001, employs psilocybin as an agonist at the serotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company’s second drug candidate, NEO-002, employs low-dose psilocybin as an agonist at the 5-HT2C receptor, which controls appetite.

NeonMind and its strategic partners are building NeonMind-branded specialty mental health clinics in Canada that incorporate evidence-based innovative interventional psychiatry treatments to address a variety of mental health needs. For more information on NeonMind, go to www.NeonMindBiosciences.com.

About SRx Health Solutions Inc.

SRx Health Solutions is Canada’s leading collaborative network of pharmacists and healthcare practitioners delivering innovative, sustainable, and integrated healthcare solutions. We proudly employ over 400 associates across Canada who support our 30+ pharmacies and 125+ clinics and are dedicated to providing exceptional care to patients. SRx is on a mission to enhance the wellness of Canadians, revolutionize healthcare, and ensure that all Canadians have access to equal, modern health services.

Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.

rob@neonmind.com

Tel: 416-750-3101

Investor Relations:

KCSA Strategic Communications

Scott Eckstein/Tim Regan

neonmind@kcsa.com

Tel: 212-896-1210

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or NeonMind’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on NeonMind’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, NeonMind’s drug development plans, its ability to retain key personnel, and its expectation as to the development of its intellectual property and other steps in its preclinical and clinical drug development constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

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Better Plant Streamlines Operations

Better Plant Streamlines Operations

Vancouver, B.C. – January 21, 2022: Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (“Better Plant” or the “Company”), a wellness company that develops and sells plant-based products, is pleased to announce it has streamlined operations and plans to reduce expenses by discontinuing the brand Urban Juve and discontinuing the Jusu Bar juice business. Better Plant plans to focus its resources in the near term on the Jusu Wellness line of products. It also plans to look at potential acquisitions and other opportunities to build value for shareholders.

Urban Juve Provisions Inc. a wholly owned subsidiary of Better Plant, which has been selling  the Urban Juve ayurvedic inspired line of 11 skincare products and two hand sanitizer products, will take all of its product offline, and the brand Urban Juve will be discontinued. Urban Juve formulas and other intellectual property will be transferred to Jusu Wellness Inc., another wholly owned subsidiary of Better Plant. Jusu Wellness currently makes and sells over 40 plant-based products, including cleaning products, skin care products and body products.

With the assets from Urban Juve, Jusu Wellness will have an expanded catalog of formulas and may be able to take advantage of some of Urban Juve’s key account and retailer relationships to grow its business. This past quarter Jusu Wellness added five new retailers including Yes Wellness, The Found House, Echo Wofford, Old Joy Gift Boxes and Fido’s World.

Jusu Bars is winding down it’s juice operations. Operations of Jusu Bar at Cadboro Bay in Victoria, British Columbia will cease in February 2022. Juice manufacturing of new products has ceased, and the online ordering platform will stop selling Jusu juices in January 2022.

Both Urban Juve and Jusu Bars have been money losing businesses and so it’s expected that discontinuing them will improve Better Plant’s financial position by reducing future losses, although there will be a reduction in revenues and some assets may be impaired.

Perry Chua has resigned as Chief Creative Officer, effective January 14, 2022, but will continue to work with Better Plant as a consultant. Better Plant continues to act as an incubator for new businesses by providing branding, marketing, and accounting services to emerging companies. In his role as consultant, Mr. Chua will continue to oversee Better Plant’s creative team in the provision of these services.

About Better Plant Sciences Inc.:

Better Plant has a catalog of hundreds of product formulas and develops, commercializes, markets, and sells over 50 products through the brands Jusu Wellness and NeonMind. Jusu Wellness products are sold direct to consumer goods through Jusu’s online eCommerce platform as well as through a network of online and brick-and-mortar retail stores. Better Plant has a talented team with expertise in digital design, branding, eCommerce, and digital marketing and offers marketing, branding, financial, and other services to companies with emerging businesses.

For more information on Jusu Wellness, visit getjusu.com or follow Jusu Wellness on Instagram or Facebook.

For more information on Better Plant, visit betterplantsciences.com or follow on Instagram, Twitter or LinkedIn.

Penny White, President & CEO

penny@betterplantsciences.com

1-833-515-2677

Investor Relations:

Alexandra Dumanski

invest@betterplantsciences.com

1-833-515-2677

Sales Inquiries:

Amber Allen, Head of Sales

amber@betterplantsciences.com

604-808-8118

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of COVID-19, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better Plant cautions readers not to place undue reliance on forward-looking statements provided by Better Plant, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better Plant expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

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NeonMind Appoints Canadian Medical Leader In Anesthesiology, Dr. Daniel Bainbridge, MD, FRCPC To Its Specialty Clinics Advisory Board

NeonMind Appoints Canadian Medical Leader In Anesthesiology, Dr. Daniel Bainbridge, MD, FRCPC To Its Specialty Clinics Advisory Board

Dr. Bainbridge’s Expertise and Network Provides Safety Best-Practices for Administration of Intravenous Ketamine (IV-Ketamine) at NeonMind Clinics

Vancouver, B.C. – January 13, 2022: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA: 6UF) (“NeonMind” or the “Company”), an integrated drug development and wellness company, announced today the appointment of Dr. Daniel Bainbridge, MD, FRCPC, past President of the Canadian Anesthesiologists Society, Professor from the Department of Anesthesia and Perioperative Medicine at the University of Western Ontario, and Anesthesia Consultant at London Health Sciences Centre, to its Specialty Clinics Advisory Board.

NeonMind’s medical services division is establishing specialty clinics to enhance access to interventional psychiatry treatments including intravenous ketamine treatment (“IV-ketamine”) which has shown promise as a rapid treatment for mood and anxiety disorders and has been included as a recommended treatment into Canadian guidelines by the Canadian Network for Mood and Anxiety Treatments1. Dr. Bainbridge will utilize his substantial experience to ensure NeonMind’s protocols, procedures, training, and practices of administering intravenous ketamine are best-in-class and practical from a safety perspective.  With over 20 years as a practicing anesthesiologist and his leadership role with the Canadian Anesthesiologists Society, Dr. Bainbridge has vast experience with ketamine and a large network of contacts for NeonMind to train and employ to assure patient safety.

“We are excited to welcome the Canadian leader in anesthesiology, Dr. Bainbridge, to our Specialty Clinics Advisory Board. At NeonMind, we are focused on enhancing access to interventional psychiatry to help address the mental health crisis, including IV-ketamine for mood and anxiety disorders. Safety is of utmost importance for NeonMind’s specialty clinics and, with Dr. Bainbridge’s involvement in building our programs, we can assure patients and healthcare providers they are receiving best-in-class care for their IV-ketamine administration. He will prove invaluable to enhancing access and wider adoption of NeonMind’s IV-ketamine treatment programs,” said Robert Tessarolo, President & CEO of NeonMind.

Dr. Bainbridge commented, “The evidence supports that IV-ketamine is safe and well tolerated at the therapeutic doses used to treat patients suffering from mood and anxiety disorders. The ketamine doses used are magnitudes lower than for procedural sedation, let alone general anesthesia. Ketamine administration requires specific procedures and expertise and can be safely provided in specialty clinics with the appropriately trained health care provider. My colleagues at NeonMind understand this with the aim of enhancing access to this transformational treatment for mood and anxiety disorders utilizing safe and effective care programs. I am excited to work with NeonMind in developing IV-ketamine administration practices and establishing a clinic network to enhance access to these treatment programs for patients in need.”

  1. Swainson, J., McGirr, A., Blier, P., Brietzke, E., Richard-Devantoy, S., Ravindron, N., Blier, J., McIntyre, R., Milev, R., Parikh, S., Schaffer, A., Taylor, V., Tourjman, V., van Ameringen, M., Yatham, L., Ravindran, A. and Lam, R., 2021. The Canadian Network for Mood and Anxiety Treatments (CANMAT) Task Force Recommendations for the Use of Racemic Ketamine in Adults with Major Depressive Disorder. The Canadian Journal of Psychiatry, 66(12), pp.1102-1102.

About NeonMind Biosciences Inc.

NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of psychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) a medical services division focused on launching specialty mental health clinics that integrate psychedelic therapeutics into traditional psychotherapy settings.

In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. NeonMind’s lead candidate, NEO-001, employs psilocybin as an agonist at the serotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company’s second drug candidate, NEO-002, employs low-dose psilocybin as an agonist at the 5-HT2C receptor, which controls appetite.

NeonMind and its strategic partners are building NeonMind-branded specialty mental health clinics in Canada that incorporate evidence-backed innovative treatments to address a variety of mental health needs. For more information on NeonMind, go to www.NeonMindBiosciences.com.


Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.

rob@neonmind.com

Tel: 416-750-3101

Investor Relations:

KCSA Strategic Communications

Scott Eckstein/Tim Regan

neonmind@kcsa.com

Tel: 212-896-1210

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or NeonMind’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on NeonMind’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, NeonMind’s drug development plans, its ability to retain key personnel, and its expectation as to the development of its intellectual property and other steps in its preclinical and clinical drug development constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

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Better Plant Adds Neonmind Superfood Mushroom Coffees in the United States on Faire Wholesale Marketplace

Better Plant Adds Neonmind Superfood Mushroom Coffees in the United States on Faire Wholesale Marketplace

Vancouver, B.C. – December 10, 2021: Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FRA: YG3) (“Better Plant”) a wellness company that develops and sells plant-based products, is pleased to announce that it’s full line of NeonMind Superfood Mushroom Coffees are now available for purchase by retailers  in the United States (“U.S.”) on Faire Wholesale Marketplace, an online wholesale marketplace.

Faire currently serves over 170,000 independent retailers across North America, representing more retail locations than Marks & Spencer, Boots, Aldi, Starbucks, and Tesco combined.

“Being on Faire will showcase our coffee products  to retailers that are outside of our typical demographic”, says Amber Allen, Director of Sales for Better Plant. “We look forward to promoting NeonMind products on this platform and connecting with many diverse buyers.”

Faire provides a holistic, end-to-end platform that enables independent retailers to build, grow, and run their businesses. Leveraging the Faire platform benefits retailers with perks such as payment flexibility and security, free returns, shipping solutions and data-driven recommendations.

Better Plant owns four NeonMind mushroom coffee blends which are sold in the U.S.: two roasted blends and two instant coffee blends. From improving memory, alertness, and cognitive function to supporting the immune system, eliminating toxins and fighting mental and physical stress, NeonMind’s mushroom coffees put health and wellness at the forefront.

According to a report by MarketsandResearch.com, the global superfoods market size is expected to reach USD 272.47 billion by 2028. Mushrooms that are featured in NeonMind coffees, such as reishi and turkey tail are considered to be popular superfoods due to their healthful properties.

About Faire:

Faire is a curated wholesale marketplace connecting more than 170,000 North American retailers with thousands of emerging and established brands. Faire enables independent retailers to grow their business with the advantages of big box terms and empowers makers to seamlessly build and run their wholesale business. Faire was founded in 2017 and is powered by the idea that the future is local. Faire is backed by investors including Y Combinator, Lightspeed Venture Partners, Forerunner Ventures, Khosla Ventures, Sequoia Capital, Founders Fund, and DST Global. The company is headquartered in San Francisco, Kitchener-Waterloo, and Salt Lake City. To learn more, visit www.Faire.com.

Other News

On November 30, 2021 Better Plant completed the sale of its previously wholly-owned subsidiary, Wright & Well Inc., which held the licensing rights to a cannabis topicals brand in Oregon, U.S., to a non related party for an all cash deal of twenty thousand dollars.

On November 29, 2021 Better Plant changed the nature of its broker representation agreement with Hive Naturals (formerly known as Thank You Merci) that was announced on February 4, 2021. Hive Naturals was engaged to represent Better Plant’s wholly-owned subsidiaries Jusu Wellness and Jusu Bar in Canada and the U.S.. Going forward, Hive Naturals will concentrate its efforts solely on the existing Jusu Wellness accounts with Whole Foods Market and Healthy Planet, Canada.

“Our new relationship with Hive Naturals will allow us to continue to ensure exceptional customer service and to help organically grow sales within these key accounts”, says Amber Allen, Director of Sales for Better Plant.

Better Plant continues to engage Nationwide Natural Foods Inc. as a distributor for Jusu Bar in Canada, and is expanding distribution points for Jusu Bar and Jusu Wellness products through its own in-house sales team.

About Better Plant Sciences Inc.

Better Plant has a catalog of hundreds of product formulas and develops, commercializes, markets and sells over 50 products through the brands Jusu, NeonMind and Urban Juve. Better Plant products are sold through a network of over 150 online and brick-and-mortar retail locations including Whole Foods Market, Pharmasave, Healthy Planet and Vitasave. Better Plant has a talented team with expertise in digital design, branding, eCommerce and digital marketing and offers operational, financial, and other services to companies with emerging and fast growing businesses.

For more information on Better Plant, visit betterplantsciences.com or follow @betterplantsciences on Instagram.

Penny White, President & CEO

penny@betterplantsciences.com

1-833-515-2677

Investor Relations:

Alexandra Dumanski

invest@betterplantsciences.com

1-833-515-2677

Sales Inquiries:

Amber Allen, Director of Sales

amber@betterplantsciences.com

604-808-8118

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of COVID-19, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better Plant cautions readers not to place undue reliance on forward-looking statements provided by Better Plant, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better Plant expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

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NeonMind To Present At H.C. Wainwright 2nd Annual Psychedelics Virtual Conference

NeonMind To Present At H.C. Wainwright 2nd Annual Psychedelics Virtual Conference

Vancouver, B.C. – December 02, 2021: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA: 6UF) (“NeonMind” or the “Company”), an integrated drug development and wellness company focused on the potential therapeutic uses of psilocybin for treating obesity and weight management conditions, announced today that Robert Tessarolo, President and Chief Executive Officer, will participate in the H.C. Wainwright 2nd Annual Psychedelics Conference, being held virtually on Monday, December 6, 2021.

H.C. Wainwright 2nd Annual Psychedelics Virtual Conference Details: 

Date: Monday, December 6, 2021
Registration: HCW Events 

The Company’s presentation will be available on-demand at the start of the conference beginning on December 6, 2021 at 7:00 a.m. ET. In addition to the Company’s presentation, management will be available to participate in one-on-one meetings with investors who are registered to attend the conference.

For more information about the conference, or to schedule a one-on-one meeting with NeonMind’s management team, please contact KCSA Strategic Communications at NeonMind@kcsa.com or your H.C. Wainwright representatives directly.

About NeonMind Biosciences Inc.

NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of psychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) a medical services division focused on launching specialty mental health clinics that integrate psychedelic therapeutics into traditional psychotherapy settings.

In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. NeonMind’s lead candidate, NEO-001, employs psilocybin as an agonist at the serotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company’s second drug candidate, NEO-002, employs low-dose psilocybin as an agonist at the 5-HT2C receptor, which controls appetite.

NeonMind, and its strategic medical services partner, SRx Health Solutions, expect to launch NeonMind-branded specialty mental health clinics in Canada that incorporate evidence-backed innovative treatments to address a variety of mental health needs. For more information on NeonMind, go to  www.NeonMindBiosciences.com.


Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.

rob@neonmind.com 

Tel: 416-750-3101

Investor Relations:

KCSA Strategic Communications 

Scott Eckstein/Tim Regan

neonmind@kcsa.com

Tel: 212-896-1210 

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or NeonMind’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”,”estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on NeonMind’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, NeonMind’s drug development plans, its ability to retain key personnel, and its expectation as to the development of its intellectual property and other steps in its preclinical and clinical drug development constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

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Win + Support + Microdose + Covid-19 🍄: issue 25

Here’s what’s in store for you in today’s issue:

🍄 Results from a global microdosing study

🍄  Ayahuasca vs. placebo

🍄 3D-printed psychedelics

🍄 Can mushrooms fight covid?

🍄 And more.

Be sure to check out this week’s Daily Mushroom podcast:

Where Religion And Psychedelics Collide

In this episode of the Daily Mushroom Podcast, we have Peg Peters. Peg is setting up a ketamine-assisted psychotherapy clinic just outside of Vancouver, BC. He discovered psychedelics in his mid 40s, taking a 6g dose of psilocybin mushrooms while accompanied by a therapist. After that experience his career in psychedelics took off!

Therapeutic banner

Ayahuasca vs placebo

An ayahuasca retreat could make you more empathetic!

In a recent study, participants reported reduced stress, anxiety, and depression after attending an ayahuasca ceremony… even those who were given a placebo. 

However, only the ayahuasca users showed increased empathy.

The supportive group atmosphere could explain why people experienced benefits even without taking ayahuasca. 

Don’t get triggered

Researchers discovered that DOI (a psychedelic that’s similar to LSD and mescaline) can reduce anxiety and increase neural plasticity. Rats stopped showing anxious behaviours in response to fear triggers after a single dose!

How psychedelic ceremonies change your beliefs

A survey of ~900 psychedelic ceremony attendees revealed that psychedelic use is associated with a decreased belief in materialism, an increase in transcendentalism, and improved mental health. Participants showed more moderate views on metaphysical beliefs after the ceremony rather than extreme stances.

inspirational banner

GIVEAWAY ALERT 🚨

You could win $4,000+ in prizes for supporting legal access to psychedelics!

By becoming a member of the Canadian Psychedelic Association, you can help bring new regulations forward so Canadians in need can receive lifesaving psilocybin treatments.

If that’s not enough, you’ll also be entered to win an incredible prize package including:

  • A scholarship towards a Holos Plant Medicine retreat (Value: $1,500)
  • A 2-night stay at the Sentinel Retreat Centre (Value: $500)
  • A functional mushroom wellness package from Eversio Wellness (Value: $300)
  • 1 of 3 Physiology of Trauma premium masterclass packages from Nectara (Value: $900)
  • And more!

Plus, your membership unlocks tons of other benefits such as conference discounts, exclusive interviews, resources, and media content.

Purchase a membership before December 10th to be entered in the giveaway!

Get ready for a psychedelic TV series coming this summer!

This month’s issue of Los Angeles Magazine features an in-depth cover story on the city’s recent obsession with psychedelics. 

Now, the story is being developed into a drama/comedy series called Psychedelic City (think Silicon Valley meets Limitless).

The writer hopes the show will “wipe away some of the stigmas that have been attached to psychedelics.”

The developers are also creating a Psychedelic City metaverse platform with immersive art, music, and experimental therapies. 

business banner

Biomind Labs (BMND) developed a new way to manufacture psychedelics using 3D printers and lasers. By printing the formulation layer by layer, the company can control exactly when the drug is released and adjust doses for each patient.

LOVE Pharma (LUV) signed a letter of intent to acquire Microdoz Therapy Inc. to accelerate a psilocybin trial for cannabis use disorder. Seems ironic considering that the company also sells THC and CBD oral strips!

Entheon Biomedical (ENBI) has begun testing the stability of its DMT formulation in preparation for a study on nicotine addiction.

PharmaTher (PHRM) applied for an orphan drug designation for a ketamine treatment for a rare seizure condition called Status Epilepticus. If approved, the designation would give the company potential tax credits, grant eligibility, and exclusive marketing rights.

Pasithea Therapeutics (KTTA) began offering an esketamine nasal spray at its UK clinics. It’s one of just three clinics in the UK that have been approved to provide the treatment.

MYND Life Sciences (MYND) began research on its biomarker test that aids in diagnosing multiple sclerosis. There are currently no physical indicators or lab tests that can diagnose the condition.

Researchers are turning to fungi to treat covid!

In an upcoming clinical trial, agarikon and turkey tail mushrooms will be given to covid-positive patients with mild symptoms. Researchers hope that the mushrooms’ antiviral and immune-boosting properties will prevent symptoms from worsening.

In a separate trial, the same blend of mushrooms will be given to subjects while getting vaccinated to see if it can boost antibody levels.

Industry Quick Hits

Nov 22 – Emyria Ltd (EMD) receives $5 million from one of Australia’s largest private investment groups Read more…

Nov 23 – Cybin (CYBN) Awards Grant for Psychedelic Treatment Clinic at Lenox Hill Hospital to Benefit Underserved Communities Read more…

Nov 23 – COMPASS Pathways (CMPS) granted fifth US patent for crystalline psilocybin Read more…

Nov 24 – Seelos Therapeutics (SEEL) Acquires Exclusive License of iX Biopharma’s Proprietary Wafer-Based Ketamine Delivery Platform Read more…

Nov 24 – NeonMind (NEON) Announces Successful Completion Of Pre-IND Consultation With FDA On Clinical Path For Obesity Drug Candidate NEO-001  Read more…

Nov 26 – Numinus (NUMI) Receives Conditional Approval to Graduate to the Toronto Stock Exchange Read more…

Video of the Week

Inside the LSD Museum That the DEA Somehow Hasn’t Nuked

Playlist of the Week

60s - 70s stoner rock
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NeonMind Announces Successful Completion Of Pre-IND Consultation With FDA On Clinical Path For Obesity Drug Candidate NEO-001

NeonMind Announces Successful Completion Of Pre-IND Consultation With FDA On Clinical Path For Obesity Drug Candidate NEO-001

  • FDA feedback provides clear clinical path for NEO-001, the first obesity drug therapy focused on neuropharmacological and behavioral changes for sustainable weight loss 
  • Company plans to file an IND application for a Phase 1/2 clinical study anticipated to start in H1’2022

Vancouver, B.C. – November 23, 2021: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA: 6UF) (“NeonMind” or the “Company”), an integrated drug development and wellness company focused on the potential therapeutic uses of psilocybin for treating obesity and weight management conditions, announced today it successfully completed a pre-Investigational New Drug (IND) consultation with the U.S. Food and Drug Administration (FDA), regarding proposed clinical trials for NeonMind’s lead obesity drug candidate, NEO-001. The Company expects to initiate a Phase 1/2 clinical study in the first half of 2022.

“We are extremely pleased with the FDA’s feedback and the outcome of the pre-IND consultation, which validated the scientific hypothesis and clinical approach developed by the NeonMind team. The FDA provided helpful feedback and constructive recommendations for the next steps in our development plan. We appreciate the FDA’s guidance and are on track to bring the first and only psychedelic-based treatment for obesity into clinical trials,” said Robert Tessarolo, President & CEO of NeonMind. “In parallel with an IND submission, we plan to engage with a Contract Research Organization and qualify clinical sites to move expeditiously into a Phase 1/2 Proof-of-Concept study.”

The pre-IND consultation offered feedback for NeonMind to execute on measurable clinical development milestones for its NEO-001 clinical program. The FDA acknowledged the study rationale and potential therapeutic opportunity of NEO-001 for the treatment of obesity, and the justification to advance into human clinical trials. NeonMind will incorporate the FDA’s recommendations and does not expect any impact on the timing of the proposed NEO-001 clinical program. NeonMind’s proprietary therapy will be the first psychedelic program in humans to target a large population of patients struggling with sustainable weight management.

NEO-001, the Company’ lead drug candidate targeting obesity, is a high-dose psilocybin treatment coupled with behavioral therapy and lifestyle intervention, which aims to improve the efficacy of chronic weight management in adults. The Company has identified a regulatory strategy, including a target indication and product profile, which it believes will best position NeonMind as it advances its first lead candidate through development.

 

About NeonMind Biosciences Inc.

NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of psychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) a medical services division focused on launching specialty mental health clinics that integrate psychedelic therapeutics into traditional psychotherapy settings.

In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. NeonMind’s lead candidate, NEO-001, employs psilocybin as an agonist at the serotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company’s second drug candidate, NEO-002, employs low-dose psilocybin as an agonist at the 5-HT2C receptor, which controls appetite.

NeonMind, and its strategic medical services partner, SRx Health Solutions,  expect to launch NeonMind-branded specialty mental health clinics in Canada that incorporate evidence-backed innovative treatments to address a variety of mental health needs. For more information on NeonMind, go to  www.NeonMindBiosciences.com.


Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.

rob@neonmind.com

Tel: 416-750-3101

 

Investor Relations:

KCSA Strategic Communications

Scott Eckstein/Tim Regan

neonmind@kcsa.com

Tel: 212-896-1210

 

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or NeonMind’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”,”estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on NeonMind’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, NeonMind’s drug development plans, its ability to retain key personnel, and its expectation as to the development of its intellectual property and other steps in its preclinical and clinical drug development constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.