Mind Cure Announces its Research Program with Psychedelic Compounds
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Vancouver, BC – December 8, 2020 – Mind Cure Health Inc. (CSE:MCUR – OTCQB:MCURF – FRA:6MH) (“Mind Cure” or the “Company”), is pleased to announce its translational research program, with an initial focus on psilocybin, ketamine and ibogaine.
These three psychedelic compounds have demonstrated safety profiles with proven efficacy but have not been optimized for medical use. This research program will enable Mind Cure to investigate these compounds for use in pharmaceuticals that treat physical and psychological pain and related mental health illnesses.
Translational research is multidisciplinary in nature and involves applying laboratory research and preclinical studies to develop clinical trials and studies in humans, with the long-term aim of moving scientific discoveries quicker and more effectively.
With this announcement, Mind Cure begins executing on its groundbreaking approach to expedite research and development programs in psychedelic compounds and methodologies. Mind Cure is focused on delivering validation of commercially viable medicines, methods and tools to address the numerous priorities in treating mental health and building upon the current landscape of research in psychedelic compounds, which have largely been studied for psychiatric medicine to date.
Mind Cure’s research into pain will holistically account for the mixed effects of physical pain, psychological pain and the referred and lasting effects on quality of life and clinical outcomes in patients. “Pain transcends all health conditions and, in many ways, contributes significantly to secondary complications, some of which continue throughout a person’s lifetime,” stated Dr. Ryan Hartwell. “Despite social stigmas, many classical psychedelics have safely demonstrated profound therapeutic effectiveness with alleviating all forms of pain associated with neurological trauma and chronic diseases. We begin our research with tremendous promise for new medicines that share structural similarities with improved receptor targeting, dosing, and therapeutic profiles.”
Currently, a variety of drugs are used to manage pain, resulting from inflammation in response to tissue damage, chemical agents/pathogens (nociceptive pain) or nerve damage (neuropathic pain). Most of these drugs act by binding to protein targets on cell membranes and affecting biochemical processes of the body. The need for better drugs to treat all types of pain is only increasing. One specific area of pain treatment Mind Cure is pursuing is headaches. The global migraine drug market is expected to reach USD 3.51 billion by 2026 at a CAGR of 13.3% from the 2018 data.(1)
Psychoactive properties of ibogaine have been known for decades, and more recently, experimental data from animals and anecdotal reports in humans has shown ibogaine to possess anti-addictive effects. “Ibogaine has tremendous potential,” said Hamilton Morris, who serves on Mind Cure’s scientific advisory board. “It has an incredibly complex pharmacology and that’s just what is currently known, there is still a great deal of research to be done with ibogaine and as well as related alkaloids and synthetic derivatives.”
With respect to ketamine, it has become one of the most promising and exciting neuroprotective agents and therapeutic medicines following neurological and cerebral trauma, and psychiatric conditions such as depression and PTSD. Both ketamine and ibogaine are listed in Canada on the Prescription Drug List and can be administered with a prescription. Recently, psilocybin cubensis has received exemption for medical use.
“We have built a world-class team of scientific minds, and one with a remarkable multi-disciplinary approach to treating mental health,” stated Mind Cure President and CEO Kelsey Ramsden. “Under the leadership of Dr. Hartwell, research using these first three psychedelic compounds is just the beginning. Our focus is on bringing treatment to market with speed and rigor, as such these compounds make the utmost strategic and tactical sense due to their proven efficacy and alignment with the areas of mental health that we are focused on.”
About Mind Cure Health Inc.
Mind Cure exists as a response to the current mental health crisis and urgent calls for effective treatments. Mind Cure believes in the need to reinvent the mental health care model for patients and practitioners to allow psychedelics to advance into common and accepted care.
Mind Cure is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. Mind Cure is interested in exploring diverse therapeutic areas beyond psychiatry, including digital therapeutics, neuro-supports, and psychedelics, all to improve mental health.
On behalf of the Board of Directors
Philip Tapley, Chairman, President, and CEO
Phone: +1 888 593-8995
Mind Cure Health Inc.
About this Press Release:
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Certain statements in this news release may constitute "forward-looking information" within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "feel", "intend", "may", "plan", "predict", "project", "subject to", "will", "would", and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: Mind Cure’s plan to complete the Offering and the terms thereof; the anticipated timing of closing of the Offering; Mind Cure’s intention to evaluate new product candidates, support existing product lines, increase spending for investor relations, advertising and marketing and to hire and engage additional parties to help achieve its business goals and objectives; Mind Cure being able to complete the Offering; the number of Units to be issued at closing of the Offering and the gross proceeds received; the timing of the closing of the Offering; the payment of any cash commissions, cash fees or issuance of warrants to finders; the exercise of warrants; and the use of net proceeds from the Offering.
Forward-looking information is based on a number of key expectations and assumptions made by Mind Cure, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and Mind Cure's business, and the extent and duration of such impact; Mind Cure’s ability to complete the Offering and to complete it on the proposed terms; no material change will occur before trading resumes on the CSE; no change to laws or regulations that negatively affect Mind Cure's business; there will be a demand for Mind Cure's products in the future; and Mind Cure will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what Mind Cure believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.
Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the impacts of the COVID-19 pandemic on the Canadian economy, Mind Cure's industry and Mind Cure's business, which may negatively impact, and may continue to negatively impact, Mind Cure and may materially adversely affect Mind Cure's investments, results of operations, financial condition and Mind Cure's ability to obtain additional equity or debt financing, and satisfy its financial obligations; the ability for Mind Cure to close the Offering on the proposed terms or at all; the ability for Mind Cure to continue to list its shares on the CSE or another exchange; circumstances may change resulting in the use of proceeds set out in this news release; general economic conditions; future growth potential; common share prices; liquidity; tax risk; tax laws currently in effect remaining unchanged; ability to access capital markets; competition for mental health and wellness investments; environmental matters; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. Additional information on the risk factors that could affect Mind Cure can be found under "Risk Factors" in the Prospectus which is available on SEDAR at www.sedar.com.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to Mind Cure. The forward-looking information is stated as of the date of this news release and Mind Cure assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
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