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NeonMind Announces Organizational Changes

NeonMind Announces Organizational Changes

Oakville, Ontario – May 30, 2022: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA: 6UF0) (“NeonMind” or the “Company”) announced today that has made changes to its Management, Board of Directors and Advisory Board to support the Company’s strategic plans.

Effective May 30, 2022 Rob Tessarolo has been appointed as Chairman of the Board of NeonMind and has resigned from his role as President and Chief Executive Officer. Penny White has been appointed as Chief Executive Officer of NeonMind. Ms. White continues as a member of the Board of Directors. Also on May 30, 2022, Kari Richardson and Jeff B Smith resigned as Directors of the Board of Directors. Kari Richardson has been appointed to serve on the Company’s advisory board. Cole Drezdoff and Rob Tessarolo have been appointed to the Company’s Board of Directors to fill the vacancies.

“In response to sector market conditions, these changes allow the Company to reduce expenses whilst maintaining our commitment to long term value creation,” said Robert Tessarolo, Chairman of the Board of NeonMind.

The Company wishes to thank the outgoing Directors and officers for their contributions to the Company during their respective tenures. The Company’s Board of Directors now consists of Rob Tessarolo, Penny White and Cole Drezdoff, and each of them is a member of the Audit Committee, with Rob Tessarolo appointed as Audit Committee Chair.

Robert Tessarolo has 26 years of experience in the pharmaceutical industry. Most recently, he held the position of President and Chief Executive Officer of NeonMind from January 2021 to May 2022. Prior to that, he acted as President and Chief Executive Officer of Mind Medicine (Mindmed) Inc., a psychedelic drug discovery and drug development company now traded on the NEO exchange, from September 2019 to January 2020. Prior, Mr. Tessarolo was President and Chief Executive Officer of Cipher Pharmaceuticals Inc., a diversified specialty pharmaceutical company listed on the Toronto Stock Exchange.

Mr. Tessarolo has extensive strategic experience and an impressive operational record of scaling high growth organizations in the pharmaceutical industry through product innovation and M&A. Cipher Pharmaceuticals Inc., which focuses on acquisitions, in-licensing, and selective investments in drug development, under his leadership, was restored to positive EBITDA with the execution of seven business development transactions in less than 18 months. He was the first employee of Watson Pharmaceuticals in Canada. Under his leadership revenue grew from zero to $190M and he led the Canadian integration of major M&A transactions including Watson integration of Warner Chilcott (~$5B global acquisition), Forest Laboratories (~$28B global acquisition) and Allergan (~$66B global acquisition) in less than 18 months. He has secured tens of millions in financing and hundreds of millions in revenue for companies under his leadership.

Penny White has worked in the capital markets for 24 years as a founder, officer, Director, audit committee member and securities lawyer. She has been recognized on PROFIT Magazine’s W100 list of top Canadian female entrepreneurs. Ms. White has raised over $50 million for companies she founded and has executed more than 100 private to public transactions. For the past five years, she has been the President and Chief Executive Officer of Better Plant Sciences Inc.

Ms. White was an initial director and officer of Merus Labs Inc., which was acquired by Norgine B.V. in 2017 for $342 million. She was the President and Chief Executive Officer of NeonMind from September 2019 to January 2021, and has been a Director of NeonMind since September 2019. She was Executive Chairman of NeonMind from January 2021 to May 2022. In 2015 and 2016, under Penny’s leadership as CEO, her law firm was included in the PROFIT 500 Fastest Growing companies, based on revenues. Ms. White has completed the Oxford Leading Sustainable Corporations Programme and the Oxford Climate Emergency Programme at Saïd Business School at the University of Oxford. She is a member in good standing of the Law Society of British Columbia in Canada and the Washington State Bar Association.

Cole Drezdoff has been a Director and member of the Audit Committee of Better Plant Sciences Inc. since July 2020. He recently completed four years of full-time accounting and marketing courses at Toronto Metropolitan University at the Ted Rogers School of Management. Mr. Drezdoff developed experience over the past five years as a consultant in social media, sales, investor relations and business 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 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, Chairman of the Board, NeonMind Biosciences Inc.
rob@neonmind.com
Tel: 705-710-6366

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.

Released May 30, 2022

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NeonMind Closes Convertible Debenture Financing

NeonMind Closes Convertible Debenture Financing

Oakville, Ont. – April 8, 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, is pleased to announce that on April 8, 2022 it closed its private placement offering announced on March 21, 2022 (the “Offering”). Pursuant to the Offering, the Company has issued 394 units at a price of $1,000 per unit (the “Units”) for gross proceeds of $394,000. Each Unit consists of one unsecured convertible debenture in the principal amount of $1,000 (the “Debentures”) and 3,743,000 warrants to purchase common shares of the Company (the “Warrants”). Of the Units issued, 109 Units were issued for debt settlement.

The Debentures bear interest at a rate of 10% per annum on an accrual basis from issuance, calculated and payable semi-annually in arrears on May 31 and November 30 of each year with such payment commencing on April 8, 2022, with a redemption date that is 24 months from issuance. The Debentures will be convertible in full or in part, at the holders’ option, into common shares in the capital of the Company at a price of $0.075 per common share, at any time prior to their redemption. Each Warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.08 per share for a period of 36 months from the date of issue.

In connection with the closing of the Offering, the Company has paid Echelon Wealth Partners Inc. (“Echelon”) a cash commission of $14,000, and granted 133,000 warrants (the “Agent Warrants”) to Echelon with each such Agent Warrant entitling the holder to purchase one common share and one share purchase warrant (each, an “AW Warrant”) of the Company at a price of $0.075 for a period of 24 months from the date of issue. Each AW Warrant is exercisable to purchase one additional common share of the company at a price of $0.08 for a period of 36 months from the date of issue of the Agent Warrants.

All the securities issued in connection with the Offering are subject to a statutory hold period lasting four months and one day following the closing of the Offering. All amounts are in Canadian dollars. The ‎net proceeds from the Offering will be used for marketing, wages, and general working capital. No related parties participated in the Offering.

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

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.

Released April 8, 2022

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NeonMind Announces Positive Preclinical Results Demonstrating the Efficacy of Psilocybin in Reducing Weight Gain in Obese Animal Subjects

NeonMind Announces Positive Preclinical Results Demonstrating the Efficacy of Psilocybin in Reducing Weight Gain in Obese Animal Subjects

ata Further Validates Psilocybin as a Drug Candidate for Obesity and Supports Development of NeonMind’s Drug Programs NEO-001 and NEO-002

OAKVILLE, ON / ACCESSWIRE / March 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 it has released preclinical data demonstrating the efficacy of psilocybin in reducing weight gain in obese subjects. In previous preclinical studies, NeonMind has shown efficacy in reducing weight gain in healthy subjects with normal weight. This latest study suggests a broader therapeutic potential of psilocybin in weight management and supports the current development track of NeonMind’s drug candidates.

The data from NeonMind’s preclinical models revealed a novel finding for its drug candidates: the ability to target visceral fat. Increased visceral fat is linked to poorer cardiometabolic health and reduction in this type of fat is important in weight loss and better overall health outcomes. Additional findings from the preclinical models in obese subjects include:

  • Statistical significance compared to the control group for both absolute and relative weight gain;
  • Efficacy seen within days of administration;
  • Reduced food consumption compared to control group;
  • No safety signals.

The positive results further reinforce the drug development opportunity of NeonMind’s two lead psilocybin-based drug candidates targeting obesity. Moreover, the novel findings provide opportunities to enhance their commercial profiles. These candidates include NEO-001, which employs psilocybin as an agonist at the serotonin 5- HT2A receptor, and NEO-002, which utilizes low-dose psilocybin as an agonist at the 5-HT2C receptor, which controls appetite.

“These latest findings show psilocybin’s ability to modulate weight gain, which is absolutely critical for any drug candidate targeting obesity and weight loss,” said Robert Tessarolo, President & CEO of NeonMind. “In two separate rodent studies, we have shown that psilocybin has efficacy in modulating weight in both obese and normal subjects. This is important given visceral fat is associated with increased comorbidities and poorer health outcomes. These findings show promise for the future development of psilocybin-based treatments for obesity, which may also lead to improved cardiovascular and metabolic health.”

Dr. Alasdair Barr, primary investigator of NeonMind’s preclinical study, commented, “These preclinical studies are bringing to light novel findings in an under-researched psychedelic modality: psilocybin-based weight management. We were able to explore key mechanisms that drive obese behavior and have come away with further evidence that psilocybin could potentially lead to a reduction in weight gain in various patient sub-types.”

The manuscript has been submitted to a leading industry peer-reviewed journal for publication.

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/694257/NeonMind-Announces-Positive-Preclinical-Results-Demonstrating-the-Efficacy-of-Psilocybin-in-Reducing-Weight-Gain-in-Obese-Animal-Subjects

Released March 23, 2022

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NeonMind Unveils Initial Treatment Offering at Specialty Mental Health Clinic in Mississauga

NeonMind Unveils Initial Treatment Offering at Specialty Mental Health Clinic in Mississauga

To Deliver Low Dose Intravenous Ketamine for Mood and Anxiety Disorders, a Recommended Treatment by Canadian Guidelines, Upon Clinic Licensing

OAKVILLE, ON / ACCESSWIRE / March 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 it is setting up to offer low dose intravenous ketamine therapy for mood and anxiety disorders (IV-Ket) as an initial treatment at its recently announced, inaugural specialty mental health clinic location in Mississauga, Ontario, pending clinic licensing.

NeonMind’s Mississauga clinic represents its initiative to establish and operate a network of NeonMind-branded specialty clinics. These clinics will deliver in demand mental health treatments to underserved areas throughout Canada. Specialty services to be offered will incorporate innovative, evidence-based interventional psychiatric treatments for a variety of mental health disorders.

Rob Tessarolo, President & CEO of NeonMind, commented, “This represents the latest step in our plan to become a specialty mental health clinics operator. We are building a clinic infrastructure that supports psychiatric treatment using innovative medicines such as ketamine, as well as other emerging therapies with strong evidence of efficacy and safety, in an effort to provide long-lasting solutions to a growing population of patients suffering from mental health. Following our recent clinic opening announcements, we are working quickly to stand these facilities up, with our Mississauga location in the final process for equipment setup and licensing.”

NeonMind’s Site Medical Director for its Mississauga specialty clinic location, Dr. Bhayana, has low dose IV-Ket treatment for mood and anxiety disorders as part of his scope of practice and will be overseeing the clinic with three private infusion rooms and operational capabilities that can support high volumes of IV-Ket treatments. There is now strong clinical evidence that IV-Ket is an efficacious and safe treatment for mood and anxiety disorders which has led to its inclusion as a treatment option in Canadian guidelines. Additional psychedelic-based therapies have a growing body of evidence on their efficacy in treating mental health disorders and NeonMind will look to incorporate these novel therapies as they are authorized. The Mississauga clinic is expected to begin treatment services in the second half of 2022.

NeonMind’s inaugural specialty mental health clinic is located at 89 Queensway West, Suite 604, Mississauga, Ontario, L5B 2V2. 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-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.

Released March 23, 2022

Posted on

NeonMind Files New Provisional Patent Application Covering Novel Mechanism of Weight Loss

NeonMind Files New Provisional Patent Application Covering Novel Mechanism of Weight Loss

OAKVILLE, ON / ACCESSWIRE / March 22, 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 filed a new patent application with the United States Patent and Trademark Office related to a novel mechanism of weight loss targeted to specific fat subtypes.

The provisional patent application includes data derived from NeonMind’s recent preclinical animal study, incorporating novel findings which indicate, in addition to reiterating weight modulation effects of psilocybin seen in previous studies, that the targeted reduction of specific fat subtypes may have beneficial effects on metabolic and cardiovascular health. The filing strengthens NeonMind’s growing IP portfolio and differentiates the commercial profiles of its drug candidates. The Company plans to release further details of the study’s findings.

If granted, the patent could support NeonMind’s pharmaceutical assets until at least 2042. NeonMind’s lead candidate, NEO-001, aims to produce neuropharmacological changes induced by psilocybin, in conjunction with psychotherapy, to achieve durable weight loss for patients suffering from obesity. NeonMind’s additional drug candidate, NEO-002, employs low-dose psilocybin to control appetite.

“We are excited by the unique findings from our preclinical studies, which have demonstrated durable therapeutic benefits for weight management in the animal model. Importantly, our novel findings provide an opportunity for us to develop drugs with highly differentiated target product profiles and broad commercial opportunities,” said Robert Tessarolo, President & CEO of NeonMind. “With the advancement of our research programs and continued expansion of our IP portfolio, NeonMind is positioning itself as a leading innovator in the development of novel psychedelic treatments focused on serving the weight management and obesity market, which has historically been underserved and where a new, effective approach is desperately needed to help people live fuller, healthier lives.”

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/694102/NeonMind-Files-New-Provisional-Patent-Application-Covering-Novel-Mechanism-of-Weight-Loss

Released March 22, 2022

Posted on

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

Posted on

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

Posted on

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

Posted on

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.