Scientists Begin Exploring Fungi's Medical Possibilities

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Apr 07, 2020, 09:00 ET

PALM BEACH, Florida, April 7, 2020 /PRNewswire/ -- There is a growing acceptance of psychedelic drugs being used as treatment for various health conditions including depression, panic disorders, post-traumatic stress disorder (PTSD), and opiate addiction. In addition, such drugs are also used to enhance or change sensory perceptions, energy levels, thought processes, and to facilitate spiritual experiences. Generally, psychedelic drugs can be categorized into dissociative drugs (such as PCP), empathogens and serotonergic (classic hallucinogens, such as LSD), and those sourced from synthetic processes (human-made) and plants or mushrooms. Currently, different research studies are underway and are expected to provide a competitive advantage for new and innovative therapeutic manufacturers. And in the United States alone, the psychedelic drugs market is projected to reach a value of USD 6,859.95 Million by 2027 from USD 2,077.90 Million in 2019 while growing with a CAGR of 16.3% in the forecast period of 2020 to 2027, according to Data Bridge Market Research. Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB), Mind Medicine (MindMed) Inc. (OTC: MMEDF) (NEO: MMED), Champignon Brands Inc. (OTC: SHRMF) (CSE: SHRM), The Yield Growth Corp. (OTC: BOSQF) (CSE: BOSS), Dyadic International, Inc. (NASDAQ: DYAI)

In recent years, several psychedelic drug product launches and developments were announced and initiated by companies worldwide. For example, in September 2019, Jazz Pharmaceuticals, Inc. had published optimistic data sets from JZP-258's Phase 3 study for the treatment of excessive daytime sleepiness (EDS) and cataplexy in adults with narcolepsy. Data Bridge Market Research indicates that in March 2019, Johnson & Johnson Services, Inc. had received the U.S. Food and drug Administration (FDA) authorization for SPRAVATO^TM (esketamine) nasal spray CIII antidepressant for treatment-of resistant depression.

Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB) is also listed on the Canadian Securities Exchange under the ticker (CSE: NLB). Just this morning the company announced breaking news that, "it has signed a letter of intent (the "LOI") dated April 6, 2020 to acquire Mydecine Group ("Mydecine"), a Colorado headquartered company. Mydecine is a vertically integrated company engaged to utilize the vast medicinal, health and wellness capabilities of the many compounds found in various strains of mushroom and fungi as a whole. The Company, through its three wholly-owned divisions, "Mydecine Farms", "Mydecine Wellness", and "Psydecine Labs" aims to be an industry pioneer in the cultivation, processing, product development, and research and development of the many beneficial and exciting compounds that are found in various strains of mushroom and fungi from all around the world.

Numerous compounds found in various strains of mushroom and fungi are already being used to develop treatments for health conditions such as depression, PTSD and opiate addiction. Meanwhile, in 2019, the National Alliance on Mental Illness had stated that 1 in 6 youths aged 6-17 in the U.S. experience a mental health disorder each year and 1 in 25 U.S. adults experience a serious mental illness each year .

Joshua Bartch CEO of NewLeaf Brands commented, "We've been watching and closely monitoring the progress of the mycology space for some time now. Given that we are located in the home state to first decriminalize psilocybin in the U.S., the Company has had a unique opportunity to get a jump on the potential industry as a whole. So far, Denver and Oakland have decriminalized psilocybin, while Oregon has a measure to legalize the substance as soon as this year! We share a common vision of Mydecine in the sense of seeing the vast potential of mycology as a whole, not just the compound psilocybin. Numerous other compounds found in fully legal fungi are very exciting and hold the potential to make truly revolutionary discoveries, IP and products. We see this as an incredibly early opportunity with enormous potential upside."

Pursuant to the LOI, the Company will purchase 100% of the issued and outstanding shares in the capital of Mydecine for USD $850,000, payable in common shares in the capital of the Company. The Company will pay a finder's fee for the transaction. The Company will look to close the transaction following the completion of the due diligence investigations. Closing is subject to definitive documentation and applicable regulatory approvals.

To learn more about Mydecine Group please visit the company's website at mydecine.com

About NewLeaf Brands

NewLeaf Brands, Inc. is an innovative Cannabidiol ("CBD") lifestyle Company. Through the Company's wholly-owned subsidiaries We are Kured, LLC, Drink Fresh Water, LLC, ReLyfe Brand, LLC and TeaLief Brand, LLC the Company's main business activities encompass the development, marketing, and distribution of CBD products (including vaporizer pens/cartridges, hot/cold tea, softgel capsules and beverages) throughout North America, South America, and Europe. In addition, NewLeaf Brands, Inc. has extensive retail and cultivation land investments in Oregon, USA.

For further information about NewLeaf Brands, please consult the Company's profile on SEDAR at www.sedar.com or visit the Company's website at www.NABrandsInc.com. For further information about We Are Kured, please visit their website at www.wearekured.com."

For our latest "Buzz on the Street" Show featuring Newleaf Brands Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=mPLRjDHAQP8

Mind Medicine (MindMed) Inc. (OTC: MMEDF) (NEO: MMED) announced the signing of a multi-year, branch exclusive collaboration with the laboratory of Professor Dr. Matthias Liechti, the world-leading psychedelics pharmacology and clinical research group at University Hospital Basel in Switzerland. Under the agreement, MindMed gains exclusive worldwide rights to data, compounds, and patent rights associated with the Liechti laboratory's research with LSD and other psychedelic compounds, including data from preclinical studies and eight completed or ongoing LSD clinical trials. MindMed has already begun working with Professor Dr. Liechti's laboratory to file patents for the data and clinical trials it has generated over a 10-year period.

Champignon Brands Inc. (OTC: SHRMF) (CSE: SHRM) announced last month continues to augment its Special Advisory Committee with the addition of key individuals experienced in highly regulated industries primed for rapid growth. To this accord, the Company is pleased to announce the appointment of Mr. Jay Kheita, ACPR, to its Special Advisory Committee, where he will help lead the integration of Champignon's novel and natural treatment protocols into its existing consumer packaged goods portfolio. Champignon's Special Advisory Committee continues to evaluate the potential positive effects of its novel and natural treatment protocols and ongoing pre-clinical trials on individuals suffering from indications such as depression, post traumatic stress disorder (PTSD), traumatic brain injuries (TBI), obsessive compulsive disorder (OCD), as well as substance and alcohol use disorders.

The Yield Growth Corp. (OTCQB: BOSQF) (CSE: BOSS) announced last year the appointment of Amber Allen as Head of Sales for Yield Growth's North American retail distribution. Ms. Allen is a seasoned and savvy sales broker bringing decades of experience working with distributors to grow a multitude of brands in the skincare, edible mushrooms and other wellness spaces, including Lavido Skin Care, Love Chock, My Matcha Life, Four Sigmatic, Sun Warrior, Mikei Red Reishi, Thursday Plantation and Kosmea Skin Care. As part of the Yield Growth team, Amber will be tasked with refining the company's sales strategy to maximize sales in Canada and the USA with new and existing accounts, leveraging her expansive and long standing relationships with skincare and wellness retail distributors cultivated over 15 years in the profession. "Amber's qualifications in selling wellness products for both skin care lines and edible mushroom brands make her an ideal candidate to build out our North American retail presence," says Penny White, CEO of Yield Growth. "Amber's experience in building out the sales platform for North American brands is particularly interesting as we prepare to launch out wild edible mushroom brand through our subsidiary Flourish Mushroom Labs."

Dyadic International, Inc. (NASDAQ: DYAI) is biotechnology company which is developing what it believes will be a potentially significant biopharmaceutical gene expression platform based on the fungus Myceliophthora thermophila, named C1. The C1 microorganism, which enables the development and large scale manufacture of low cost proteins, has the potential to be further developed into a safe and efficient expression system that may help speed up the development, lower production costs and improve the performance of biologic vaccines and drugs at flexible commercial scales. Recently the Company announced that they are joining the global fight against the coronavirus outbreak by collaborating with The Israel Institute for Biological Research ("IIBR"), a governmental research institute established to provide the State of Israel with scientific response to chemical and biological threats. IIBR will explore the potential of Dyadic's industrially proven C1 gene expression platform to express gene sequences and targets developed by IIBR into both an rVaccine candidate and monoclonal antibodies (mAbs) that may help combat the outbreak of the COVID-19 virus (Coronavirus).

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