This Game-Changing Drug Could Help the Billions Struggling with Obesity

Psychedelics, like psilocybin could soon revolutionize the treatment of mental and health issues, including obesity. At the moment, worldwide obesity has tripled since 1975, says the World Health Organization. Plus, as of 2016, more than 1.9 billion adults were considered overweight, with 650 million considered obese. The good news is psilocybin may be able to help. That's because psilocybin activates serotonin receptors, or "nature's own appetite suppressant," as noted by Psychology Today. "This powerful brain chemical curbs cravings and shuts off appetite. It makes you feel satisfied even if your stomach is not full. The result is eating less and losing weight." That could be game-changing news for NeonMind Biosciences (CSE:NEON)(OTC:NMDBF), ATAI Life Sciences (NASDAQ:ATAI), Mind Medicine (NASDAQ:MNMD)(NEO:MMED), HAVN Life Sciences Inc. (CSE:HAVN)(OTC:HAVLF), and Mydecine Innovations Group (CSE:MYCO)(OTC:MYCOF).

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 Announces Corporate Update and Strategic Reorganization

NeonMind Biosciences just announced a strategic reorganization to focus on the execution of the Company’s integrated drug development plan (“IDP”) for its lead drug candidate targeting obesity, NEO-001.

This new structure reorganizes NeonMind’s business operations to focus on its core Pharmaceutical Division, and establishes resources to execute on the Company’s regulatory and clinical operations strategy. This includes the establishment of a Research and Development Advisory Board and the expansion of NeonMind’s regulatory team through the engagement of several key industry professionals. The reorganization will enable NeonMind to successfully execute its IDP by streamlining its corporate structure and leveraging the guidance of regulatory experts.

“These organizational changes will drive the advancement of our lead drug candidate, NEO-001, through the regulatory process,” said Robert Tessarolo, President & CEO of NeonMind. “Combined with our earlier initiatives, including the establishment of our Specialty Clinics Advisory Board, we have brought together an incredible team, all with proven expertise in executing regulatory, clinical, and commercial milestones across leading pharmaceutical organizations. We are excited to prepare NEO-001 for a phase 1/2 study in obese patients as we collaborate with the FDA and Health Canada on IND/CTA submissions.”

Key Appointments to Oversee Core Businesses

As part of the reorganization, Philippe Martin has been appointed Chairman of the Company’s R&D Advisory Board. Mr. Martin was instrumental in building NeonMind’s integrated development plan through the Company’s R&D Working Group. He has 20 years of biotechnology and pharmaceutical industry experience developing and commercializing innovative therapies in the fields of immunology, oncology/hematology, and neurology. Currently, he is the Chief of Development & Operations at Bioalta Inc. overseeing the development of pre-clinical and clinical assets. Previously, at Celgene, Mr. Martin led the development and commercialization of the blockbuster drug Otezla®. Prior to this, while at Schering-Plough, he oversaw the anti-TNF alpha collaboration with Johnson & Johnson and led the REMICADE lifecycle strategy and operations, as well as SIMPONI development, regulatory approvals, and preparation for launch in multiple indications.

In addition, NeonMind has expanded its regulatory team with the hiring of highly experienced regulatory consultants. They bring over 45 years of combined biopharmaceutical industry experience and will provide regulatory guidance and support as the Company prepares for its Proof-of-Concept study.

Related to the reorganization, the Company’s Chief Psychedelics Officer, Trevor Millar, is transitioning to an advisory capacity. Mr. Millar has resigned as Chief Psychedelics Officer and has been engaged by the Company as an advisor, effective August 6, 2021. Additionally, as NeonMind’s focus shifts to navigating the regulatory process, the Company has terminated its consulting agreement with Translational Life Sciences and Dr. William Panenka is leaving the Scientific Advisory Board.

In May 2021, the Company established its Specialty Clinics Advisory Board to guide the planning and operation of NeonMind branded clinics across Canada. To support this endeavor, in July 2021 NeonMind appointed Dr. Sagar Parikh, MD to its Specialty Clinics Advisory Board. In this role, Dr. Parikh will leverage his vast expertise in clinical treatment and interventional psychiatry including effectively treating patients with psychedelics such as ketamine, esketamine, and neurostimulation for mood and anxiety disorders to guide NeonMind as it develops specialty clinic services for communities in need. Dr. Parikh also brings pivotal experience in planning and successfully launching new mental health treatments.

NEO-001, the Company’ lead drug candidate targeting obesity, is a high-dose psilocybin treatment coupled with behavior therapy and lifestyle intervention, which aims to improve the efficacy of chronic weight management in adults. The Company has identified a regulatory strategy, including a target indication and product profile, which it believes will best position NeonMind as it advances its first lead candidate through development.

Other related developments from around the markets include:

ATAI Life Sciences and UniQuest, Australia’s leading university technology transfer company commercializing the research of The University of Queensland (UQ), announced the launch of InnarisBio Inc. (InnarisBio), to develop a novel sol-gel intranasal drug delivery technology to improve treatments for mental health disorders. InnarisBio aims to commercialize the sol-gel intranasal drug delivery platform technology developed in the laboratory of UQ researcher Dr. Harendra (Harry) Parekh at the School of Pharmacy in the Faculty of Health and Behavioural Sciences. The platform technology, which also includes a patent filing, was licensed to InnarisBio by UniQuest. Under the terms of the license, InnarisBio will receive exclusive rights in their desired fields.

Mind Medicine announced that it will participate in and financially support the Digital Medicine Society’s (DiMe) Digital Health Measurement Collaborative Community (DATAcc), an effort to develop best practices and streamline the medical field’s approaches to measuring health using digital technologies. DATAcc comprises leaders from across the US government, non-pro?t, and private sectors, including the US Food and Drug Administration (FDA) , the US Department of Health and Human Services, healthcare systems, medical technology companies, patient advocates, biopharma, and policy organizations. The collaborative will use interdisciplinary expertise, data, and cases to address complex medical device challenges.

HAVN Life Sciences Inc., a biotechnology company pursuing standardized extraction of psychedelic compounds for the creation of APIs that support brain health and enhance the capabilities of the mind, is proud to announce the harvest of its first crop of psilocybin-containing mushrooms from their growing and production facility in Jamaica. Working with its partner, GMP manufacturer P.A. Benjamin in Kingston, the Company will export the harvested psilocybin to Canada where it will be tested for safety and quality control through its lab partner, Delic Labs.

Mydecine Innovations Group announced that the Company has filed a new patent for MDMA-like compounds further expanding its robust portfolio of novel compounds. “At Mydecine, we are excited to expand our drug development program to include the improvement of entactogenic compounds,” said Rob Roscow, Chief Scientific Officer. “The groundbreaking progress that we’ve seen from the Multidisciplinary Association for Psychedelic Studies (MAPS) in its Phase 3 clinical trials of MDMA-assisted psychotherapy for Post-Traumatic Stress Disorder (PTSD), including receiving Breakthrough Therapy Designation from the Food and Drug Administration (FDA), shows great promise to date. It is our belief that the tailoring of the properties of these compounds will vastly improve their utility to medicine and therapy. This filing is part of our continued efforts to grow our robust IP portfolio as we consistently file for new patents that offer high potential to expand psychedelics for medical use.”

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