Better Plant Sciences Inc.

09:37 AM EST - Better Plant Sciences Inc. : Announced that its majority owned subsidiary NeonMind Biosciences has entered into a definitive agreement with Psygen Labs Inc. for the supply of psilocybin for NeonMind's planned preclinical, and clinical trials to study the use of a drug product including Psilocybin for the treatment of food cravings and anxiety. The agreement was signed on September 28th, 2020. Psygen is currently acting as broker between NeonMind and a licensed dealer of restricted drugs. The Licensed Dealer holds a dealer's licence issued under Part J of the Food and Drug Regulations. The Supply Agreement provides that Psygen will supply the psilocybin directly once Psygen holds a Dealer's Licence. Psygen currently has a pending application for a Dealer's Licence. "Psilocybin is known to activate serotonin receptors," says Dr. William Panenka, lead scientific advisor to NeonMind. "As a neurotransmitter, serotonin helps to relay messages from one area of the brain to another. Serotonin is responsible for some of the drivers which govern eating. We are very interested in furthering studies to test various dosing regimens for NeonMind to see the effects that psilocybin may have on the serotonin receptors that regulate food cravings." Better Plant Sciences Inc. shares C.PLNT are trading up 1 cent at $0.09.