MYND Life Sciences Announces Collaborative Research Agreement with the University of British Columbia
MYND's Second CRA focuses on Novel Therapies for Neurological Diseases of the Brain
VANCOUVER, BC, Jan. 12, 2022 /PRNewswire/ - MYND Life Sciences Inc. ("MYND" or the "Company") (CSE: MYND) (OTC: MYNDF) a biopharmaceutical research and development company creating innovative precision medicines for patients with relentless neurological diseases, today announced that it has entered into Collaborative Research Agreement (the "Agreement") with the University of British Columbia ("UBC") focussing on Novel Therapies for Neurological Diseases.
MYND is creating safe and effective precision medicines based on proprietary technologies, targeting intractable diseases affecting the Central Nervous System, aiming to improve the standard of care for patients. This research seeks to test new compounds, including Psilocybins which may modify neurological diseases. Through 38 Health Canada licenses issued under their Section J exemptions of the Food and Drug Act issued to the UBC Laboratory, MYND possesses the enviable ability to examine the unique actions of analogues of Psilocybin. The focus is to develop, validate and patent the ability of Psilocybin-based drugs to modify outcomes in disease.
"We are very excited to announce our second Collaborative Research Agreement focussing on diseases of the brain," stated Dr. Lyle Oberg, MYND's Chief Executive Officer. "We have a unique opportunity to improve the wellness and quality of life of millions of people and families torn apart by the tragedy of dementia and other debilitating diseases of the Central Nervous System. The MYND management team has a wealth of scientific, clinical and operational experience, and is well networked within the pharmaceutical industry. The Psilocybin sector is rapidly transitioning to become a pharmaceutical industry and MYND holds a unique position within the sector in terms of building upon our unique intellectual property and a valuable portfolio of related patents","
The Company has a broad development pipeline, including advancing clinical programs, such as novel biomarkers for depression and MYND is expecting results from its pivotal trial to validate these biomarkers. Through its subsidiary MYND Diagnostics INC., this includes conducting an adaptive dose finding single phase 2b clinical trial funded by the Australian Government of the efficacy and safety of psilocybin assisted psychotherapy ("PAP") in the treatment of people diagnosed with treatment resistant depression ("TRD") in collaboration with clinical researchers at Monash University. Furthermore, MYND anticipates entering clinic trials with three additional programs in the course of 2022/2023. After progressing to clinical proof of concept, MYND will continue to have the option to enter into partnerships for late-stage development and commercialization.
"We are continuing to translate our innovative approaches, while maintaining our scientific excellence," stated Dr. Wilfred Jefferies, Chief Science Officer at MYND. "We have unique technologies with differentiating potential and access to state-of-the-art facilities. This funding will allow us to accelerate our research dramatically leading to more rapid translation of our studies. This is a really exciting time for MYND and our team."
DEPARTURE OF AN OFFICER OF THE COMPANY
MYND's Chief Operating Officer, Jordan Cleland, is moving on from the company to pursue other professional opportunities effective the end of day, January 11, 2022. Cleland was MYND's first hire in August of 2020 and provided operations set up and support in the formative months of the company. Cleland's duties will be assumed by Dr. Chahaat Singh who will assume the role of Operations and Research Manager with MYND. Dr. Singh has a Ph.D. in Medical Genetics, a M. Sc. In Microbiology, and brings a wealth of research experience to the position. Singh has biotech industry experience with the firms IMTech and Panacea and recently co-authored an article in the Lancet dealing with Alzheimer's Disease. Mynd would like to thank Mr. Cleland for his dedication to the company and wishes him well in his future endeavours.
ABOUT MYND LIFE SCIENCES INC.
MYND Life Sciences Inc. is a medical biotech drug research and development company focused on neuro-pharmaceutical and novel psilocybin drug development, diagnostics and vaccines. MYND is developing new biological entities (NBEs) and new chemical entities (NCEs) and differentiates itself from other (bio)pharmaceutical companies by unique molecular concepts for the applications of Psilocybins for overcoming disease. The Company is advancing pharmaceuticals through rigorous science and clinical trials, while diligently patenting and safeguarding its intellectual property. For more information and to subscribe to MYND's mailing list, please visit https://myndsciences.com/contact/.
CONTACT INFORMATION
Dr. Lyle Oberg, MD, CEO
Email: [email protected]
Web: www.myndsciences.com
Forward-Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MYND to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this release.
Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
SOURCE Mynd Life Sciences Inc.
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