BIOMIND LABS INC - BMNDF STOCK NEWS

Biomind Labs has initiated a Phase II clinical trial for its BMND08 candidate, a sublingual formulation of 5-MeO-DMT, targeting anxiety and depression in Alzheimer’s disease. Led by Dr. Martín Bruno and involving 40 participants aged 50-75, the trial aims to assess the association of these symptoms with Amnestic Mild Cognitive Impairment, which could predict progression to Alzheimer’s. The trial highlights the increasing global burden of dementia, anticipated to reach 139 million by 2050, emphasizing the urgent need for effective treatments. Biomind Labs focuses on innovative therapies for neurological disorders, aiming to provide affordable treatment options.

Biomind Labs Inc. (OTC: BMNDF) has achieved a significant milestone by optimizing a new extraction method that enhances the purity and yield of N,N-dimethyltryptamine (DMT) for their New Chemical Entity (NCE), Triptax™. This method has received FDA Investigational New Drug clearance, supporting future clinical trials for treating neurological disorders such as depression. The scalable and environmentally friendly production aligns with the company’s goals of affordable pharmaceuticals. CEO Alejandro Antalich emphasized the cost benefits and compliance with Good Manufacturing Practices, marking progress in their pharmaceutical development.

Biomind Labs has developed a novel sublingual formulation for its 5-MeO-DMT-based drug candidate BMND08, aimed at treating depression and anxiety in Alzheimer's patients. This formulation is designed for easier administration, especially in geriatric patients with swallowing difficulties. The company plans to begin its Phase II trial shortly after the initial batch is delivered. CEO Alejandro Antalich emphasizes the importance of addressing neurodegenerative diseases, highlighting the potential for improving patients' quality of life.

Biomind Labs has received FDA clearance for its New Chemical Entity Triptax™, marking a significant advancement in its clinical pipeline for treating treatment-resistant depression. The company also announced a loan facility of up to US$3,000,000 from its largest shareholder, Union Group Ventures Limited, intended for working capital. This facility will be repaid within 12 months and may involve issuing common shares. The company’s unaudited financial results for Q3 2022 are available on its SEDAR profile.

Biomind Labs Inc. announced positive initial results from part I of its Phase II trial for BMND01, a novel liquid inhaled formulation of DMT aimed at treating Treatment-Resistant Depression (TRD). The trial involved 30 volunteers and was the largest study using inhaled DMT, with no serious adverse events reported. The study demonstrated that the DMT inhalation experience could be completed in just 10 minutes. The company plans to scale treatments by creating specialized centers for DMT administration, improving access to psychedelic medicine.