MYND Life Sciences Announces New Testing Methodologies for Measuring Cellular Responses to Microdosing with Psilocybins

Vancouver, British Columbia--(Newsfile Corp. - June 1, 2022) - Mynd Life Sciences Inc.(CSE: MYND) (OTCQB: MYNDF)("Mynd" or the "Company"), a biopharmaceutical research and development company creating innovative precision medicines and diagnostic solutions for patients with relentless neurological diseases, today announced positive preclinical data in measuring dosing accuracy in psilocybins and psilocybin analogs.

Mynd strives to improve industry standards and promotes innovative research approaches with a strong focus on scientific documentation. The accurate measurement of psychedelic doses is currently not possible. By identifying the functional molecular pathway that many psychedelics, and psilocybin in particular, stimulate, Mynd has been able to make significant progress. Today, Mynd announces substantial advances in creating a molecular test for calibrating and measuring cellular responses to microdosing with psilocybin. In work carried out under the supervision of Professor Wilf Jefferies in the Michael Smith Laboratories at the University of British Columbia, through a collaborative research agreement with Mynd, the new testing protocol could allow clinicians and other researchers, and companies to monitor and accurately dose psilocybins and psilocybin-containing extracts and compounds. Mynd considers it highly likely for this to become the standard in the industry. The findings are unique in the industry and methods for quantitating levels of psilocybin and psilocin derivatives that mediate microdosing's effects.

Professor Jefferies, Mynd's Chief Scientific Officer states, "This appears to be a significant advance and we hope it will greatly aid in the adoption of psilocybins as mainstream therapies for Major Depressive Disorder and other diseases where the absence of standardizing methodologies have hampered the emergence of new treatments."

Mynd's approach to psychedelic drug research and development is to license a robust and globally patented portfolio of intellectual property with an unwavering focus on accuracy and consistency. This foundation will enable the Company to differentiate itself within the industry and create safe and effective treatment solutions while building long-term value for shareholders.

Mynd CEO Dr. Lyle Oberg commented, "Being able to understand and monitor psychedelics at the molecular level is a critical step in differentiating various drugs as they are proposed to treat certain disease states. In the absence of standardizing methodologies such as the one we have now developed, it was difficult to envision how the true potential of psychedelics could have ever been achieved."

The Company plans to utilize its Health Canada Section J exemption and $1.2 million research and development investment to rapidly expand its existing research with further preclinical analysis of 38 psilocybin analogs. It is anticipated that this research will lead to commercialization in Q4 of 2022.

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 and diagnostics. MYND is developing new biological entities (NBEs) and new chemical entities (NCEs) and differentiates itself from other biopharmaceutical companies by unique molecular concepts for the applications of Psilocybins for overcoming disease. The Company advances 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/.

Corporate Contact:
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126044

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