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Novamind to Present at the H.C. Wainwright 2nd Annual Psychedelics Conference on December 6

Novamind to Present at the H.C. Wainwright 2nd Annual Psychedelics Conference on December 6

TORONTO, ON / December 2, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, will present at the virtual H.C. Wainwright 2nd Annual Psychedelics Conference on December 6, 2021.

Novamind’s CEO and Director, Yaron Conforti, will join the Psychedelics Assisted Psychotherapy panel discussion from 1:30 PM to 2:15 PM EST. Mr. Conforti will also deliver a corporate presentation to update investors on recent milestones and progress towards the global expansion of Novamind’s psychedelic clinics and research sites.

For more information about the event and to register, visit https://hcwevents.com/psychedelics.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Investor Relations
Email: IR@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Novamind Partners with Uruguay-Based Bienstar Wellness to Develop Latin America’s First Integrative Mental Health Clinic Network

Novamind Partners with Uruguay-Based Bienstar Wellness to Develop Latin America’s First Integrative Mental Health Clinic Network

Novamind (NM) partnered with Bienstar Wellness to develop the first network of integrative mental health clinics in Latin America. The companies plan to bring psychedelic medicine to Uruguay, Brazil, Mexico, Peru, and Panama.

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Novamind Reports Fiscal Q1 Financial Results and Operating Highlights

Novamind Reports Fiscal Q1 Financial Results and Operating Highlights

  • Multistate expansion underway, signed LOI to acquire Arizona-based mental health practice
  • Total revenue of $1,857,750, +113% when compared to same period last year
  • Total working capital of $6,834,011 to fund operations

 

TORONTO, ON / November 29, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, reported its fiscal first quarter results for the three months ended September 30, 2021 (“Fiscal Q1 2022”). All results are reported under International Financial Reporting Standards and in Canadian dollars, unless otherwise specified.

“Q1 was a strong start to fiscal year 2022, driven by the addition of another clinic to our network and increased patient demand for our comprehensive range of innovative mental health treatments,” said Yaron Conforti, Novamind’s CEO and Director. “We continue to make progress on our national clinic expansion, most recently with a letter of intent to acquire two locations in Arizona. Our clinical research business has been actively building an exciting pipeline of contracts with leading drug developers.”

Fiscal Q1 2022 Operating Results and Subsequent Events

  • Signed letter of intent (“LOI”) to acquire Arizona-based mental health practice, Foundations for Change, the first announcement from a pipeline of accretive transactions
  • Leased new clinic to meet patient demand in Utah, the Wheeler Park Clinic, scheduled to open in early 2022
  • Opened a new clinic and third research site in Murray, Utah, featuring a new specialized care and research program, Psychedelic Palliative Care by Novamind
  • Secured insurance coverage for direct billing of intravenous ketamine for treatment-resistant depression from four major health insurance providers: Blue Cross Blue Shield, the University of Utah, PEHP Health & Benefits and MBA Benefit Administrators
  • Unveiled new Company logo and announced rebrand of all subsidiary clinics and research sites

Fiscal Q1 2022 Financial Highlights

  • Total revenue of $1,857,750, +113% when compared to same period last year
  • Debt-free balance sheet with $5,969,673 in cash and $2,018,971 in marketable securities
  • Total working capital of $6,834,011 to fund operations

The following table presents selected financial information from Novamind’s reviewed condensed interim financial statements for the three months ended September 30, 2021. The following information should be read in conjunction with the financial statements and management’s discussion and analysis, which are available under Novamind’s SEDAR profile at www.sedar.com.

Q1 2022

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Novamind Unveils New Logo and Invests in Unified Brand

Novamind Unveils New Logo and Invests in Unified Brand

TORONTO, ON / November 24, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, today launched a new logo and announced that the Company will unite its subsidiaries and brands under a single Novamind brand.

Novamind is investing in a revitalized and unified brand following a year of significant growth including expansion into new states, launching new clinics and research sites and bringing to market several innovative mental health care offerings.

Novamind Logo

Novamind’s new logo is now live on its corporate website and social media platforms. The logo integrates and flows across all digital and physical properties, and represents Novamind’s core beliefs in hope, healing and transformation. The open doorway at the centre of the logo, working in conjunction with the radiating lines, is an invitation towards an improved way of life—one where taking care of mental health is a priority.

The logo reveal kicks off the multi-phase rebrand of the Company’s network of clinics and research sites, expected to be complete in 2022. The Company is also improving its website to scale alongside its growth strategy and better serve diverse audiences with enhanced content and tools. Taking inspiration from the revitalized logo, the website will provide an accessible digital entry point to Novamind’s world-class care and clinical research offerings.

Yaron Conforti, CEO and Director, commented: “The new logo, rebrand and website reflects our rapid evolution over the last year. It’s an exciting opportunity to unify our current and future assets under one unique identity that will become a trusted and recognized name for innovative mental healthcare in communities across the U.S.”

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Novamind Signs LOI to Acquire Two Mental Health Clinics in Arizona

Novamind Signs LOI to Acquire Two Mental Health Clinics in Arizona

TORONTO, ON / November 16, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, today announced that it has signed a Letter of Intent (“LOI”) to acquire Foundations for Change, an Arizona-based company with two outpatient mental health clinics specialized in ketamine-assisted psychotherapy (the “Arizona Acquisition”). The Arizona Acquisition represents Novamind’s first clinics outside the state of Utah, and the first announcement from a pipeline of accretive transactions that will expand the Company’s network of clinics in the U.S. and globally.

Foundations for Change was opened in 2017 by Jeff Edelman, a Yale University graduate, and a double board-certified Family Psychiatric-Mental Health Nurse Practitioner and a Child and Adolescent Psychiatric-Mental Health Clinical Nurse Specialist. Mr. Edelman’s practice is located northwest of Phoenix and offers novel therapeutic options including transcranial magnetic stimulation (TMS), ketamine-assisted psychotherapy and Spravato. Mr. Edelman has 17 years of leadership experience providing the highest quality of care to children, adolescents, adults, military, first responders and their families.

“This is an exciting step towards our vision to expand access to psychedelic medicine across the United States,” said Yaron Conforti, Novamind CEO and Director. “Mr. Edelman has built a reputable practice in Arizona and both clinics will benefit from Novamind’s operational and administrative support and leading-edge clinical resources.”

The Arizona Acquisition is expected to close in early 2022.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Novamind to Present at International Summit on Psychedelic Therapies for Mental Illness

Novamind to Present at International Summit on Psychedelic Therapies for Mental Illness

TORONTO, ON / November 15, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, will participate in Mind Medicine Australia’s International Summit on Psychedelic Therapies for Mental Illness. Novamind’s Chief Medical Officer, Dr. Reid Robison, will present a virtual keynote on the use of psychedelic medicine to treat eating disorders on November 18 at 7:30 PM (EST).

For more information about the event, visit https://summit.mindmedicineaustralia.org/

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Novamind Enters New Lease Agreement Responding to Patient Demand

Novamind Enters New Lease Agreement Responding to Patient Demand

TORONTO, ON / November 12, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, announced today it has leased a new clinic location in Utah (the “Wheeler Park Clinic”), and will relocate the Company’s Millcreek clinic to the Wheeler Park Clinic to better serve a growing patient base.

“Wait times to book new appointments at all Novamind clinics reflect the growing demand for our unique treatments and services,” said Pierre Bou-Mansour, Novamind’s Chief Operating Officer.

He continued, “As we scale our clinic footprint to meet that demand, we are equally committed to optimizing the patient experience and elevating the standard of care. The Wheeler Park Clinic is a great example of a space that aligns with that vision. It’s easily accessible, modern and enables the right therapeutic environment for our clients and clinicians.”

With minimal leasehold improvements, the Wheeler Park Clinic is anticipated to open in early 2022.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Insurance coverage for ketamine therapy

Novamind Secures Insurance Coverage for Ketamine from Four Major Payors

One of the biggest hurdles of making psychedelic therapy accessible to all will be getting the treatment covered by insurance.

That’s why we’re excited to share that Novamind (NM) has secured coverage for ketamine treatments from four major health insurance providers: Blue Cross Blue Shield, the University of Utah, PEHP Health & Benefits and MBA Benefit Administrators!

The company’s Chief Medical Officer says that this a promising signal that insurance providers are interested in more effective mental health treatments as research emerges.

Novamind has also opened a call center dedicated to insurance verification to ensure that patients are approved and reimbursed as quickly as possible.

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Novamind Reports FY2021 Financial Results and Operating Highlights

Novamind Reports FY2021 Financial Results and Operating Highlights

  • Industry-leading revenue, $6,069,247 in FY2021
  • Total working capital of $9,680,431 to fund operations
  • Expanded network to six clinics and three clinical research sites
  • Contracted for eight clinical trials
  • Granted DEA Schedule 1 licenses for psilocybin research

 

TORONTO, ON / November 5, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, reported its audited financial results for the twelve months ended June 30, 2021 (“FY2021”). All results are reported under International Financial Reporting Standards (“IFRS”) and in Canadian dollars, unless otherwise specified.

Yaron Conforti, CEO and Director, commented: “Novamind had strong financial and operating performance in its first year as a public company. Our unique business model serving both patients and drug developers is growing significantly, reflected by an expanded clinic network, new clinical programs and research partnerships, and strong additions to our staff and leadership. I want to thank our patients, employees, partners and investors, and look forward to rapidly expanding our model to meet demand for psychedelic medicine and other innovative mental health treatments.”

Today the Company filed its financial statements later than anticipated due to unforeseen delays with its audit. The Company has since resolved the situation, and going forward, will take the required corrective measures.

FY2021 Operating Results and Subsequent Events

Clinic Division

  • Strengthened Novamind’s clinic network with the addition of two clinics; all six locations offer a variety of innovative mental health services, individualized treatment plans and speciality programming for treatment-resistant illnesses
  • Updated guidance for opening new clinics, adjusting for construction and supply chain disruptions caused by the COVID-19 pandemic:
    • Clinic #7, Salt Lake City, Utah, to open in December 2021
    • Clinic #8, Park City, Utah, to open in early 2022
  • Opened a dedicated client call center to centralize clinic administration services and maintain excellent client services while rapidly growing the Company’s network of clinics

Clinical Research Division

  • Expanded clinical research network to three total sites featuring specialized staff and infrastructure to support the unique needs of psychedelic clinical trials
  • Granted DEA Schedule 1 licenses for psilocybin research, a key prerequisite for hosting clinical trials studying psilocybin-assisted psychotherapy
  • Contracted for eight clinical trials including:
    • Merck’s phase II clinical trial of MK-1942 for treatment-resistant depression
    • Karuna’s phase III clinical trial of KarXT for schizophrenia
    • Bionomics’ phase II clinical trial of BNC210 for post-traumatic stress disorder

Psychedelic Therapy and Programs

  • Launched Frontline Ketamine-Assisted Psychotherapy (Frontline KAP) pilot program to address the widespread COVID-19-related stress and trauma faced by healthcare workers
  • Launched Psychedelic Palliative Care by Novamind, a specialty program to research and scale access to mental healthcare for patients with chronic and serious illness

Strategic Investments

  • Invested US$1,000,000 in Alto Neuroscience, which is developing a pipeline of precision psychiatry medicines using its proprietary AI-based brain biomarker platform
  • Invested AU$965,400 in Bionomics, a biopharmaceutical company focused on central nervous system disorders, alongside investors including Apeiron Investments, Biotech Value Fund, Merck, Mike Novogratz, and Peter Thiel
  • Realized +60% return divesting holdings in the Synthesis Institute, a psychedelic retreat company based in the Netherlands, to focus on Novamind’s U.S. network of clinics and clinical research sites

Capital Markets Activities

  • Listed for trading on the Canadian Securities Exchange (CSE) on January 5, 2021
  • Uplisted to the OTCQB Venture Market, a U.S. trading platform and received Depository Trust Company (DTC) eligibility
  • Closed an oversubscribed private placement, raising gross proceeds of $10,000,000
  • Included in the AdvisorShares Psychedelics ETF trading on the NYSE

FY2021 Financial Highlights

  • Total revenue of $6,069,247, including revenue from four clinics
    • Clinic #5, Draper, Utah, opened on July 29, 2021
    • Clinic #6, Murray, Utah, opened on September 30, 2021
  • Debt-free balance sheet with $5,426,286 in cash and $2,975,329 in marketable securities
    • On August 11, 2021, the Company completed the sale of its investment in the Synthesis Institute realizing gross proceeds of approximately $1,760,000
  • Total working capital of $9,680,431 to fund operations

The following table presents selected financial information from Novamind’s audited financial statements for the twelve months ended June 30, 2021. The following information should be read in conjunction with the financial statements and management’s discussion and analysis, which are available under Novamind’s SEDAR profile at www.sedar.com.

AFS 2021

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Novamind Unveils Stealth Mode Investment in Alto Neuroscience

Novamind Unveils Stealth Mode Investment in Alto Neuroscience

TORONTO, ON / October 22, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, is pleased to unveil Alto Neuroscience (“Alto”), a clinical-stage biopharmaceutical company, as its previously announced stealth mode investment. In June 2021, Novamind made a US$1,000,000 strategic investment in Alto’s Series A financing led by Apeiron Investment Group.

Alto is redefining psychiatry by developing personalized and highly effective medicines to help patients get better faster. Its artificial intelligence-enabled platform measures biomarkers including electroencephalography (EEG) and wearable data, behavioural patterns, genetics and other real-world data, to match patients with the treatment they are most likely to respond to. Alto’s pipeline includes 11 clinical-stage drug candidates being developed across psychiatric conditions, with mechanisms targeting three key mental health domains: cognition, emotion and sleep.

“Alto’s model for precision psychiatry has enormous potential to help remove the trial-and-error process associated with the diagnosis and treatment of mental health conditions,” said Dr. Reid Robison, Chief Medical Officer at Novamind. “For too long psychiatry has not sufficiently accounted for the unique biological differences between individuals which can significantly impact how they respond to medications.”

Alto’s platform evolved out of more than a decade of clinical neuroscience research led by Dr. Amit Etkin’s lab at Stanford University. The body of work has since been validated by numerous publications in high-impact, peer-reviewed academic journals. In recognition, Dr. Etkin was awarded the prestigious Director’s Pioneer Award—the first to be awarded in clinical psychiatry—by the National Institutes of Health (NIH).

Dr. Amit Etkin, founder and CEO at Alto commented: “The work we are doing at Alto has the potential to transform the field of psychiatric medicine, to move beyond treatment approaches that leave patients cycling through medications. We believe identifying people most likely to respond to drugs we are developing, based on their biology, will get patients to the right treatment faster and result in substantially better outcomes. We are grateful to Novamind, and all of our investors, for their support of this important mission.”

Alto recently announced their emergence from operating in stealth, learn more about Alto by visiting www.altoneuroscience.com.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.