Wellbeing Subsidiary KGK Science Enters Into Research Contract With Halucenex for Phase II Clinical Trial

Rhea-AI Summary

Wellbeing Digital Sciences announced that its subsidiary KGK Sciences will conduct a Phase II clinical trial to test the efficacy of psilocybin for treating treatment-resistant PTSD. This collaboration with Halucenex Life Sciences aims to develop innovative clinical solutions in mental healthcare. KGK, a leading contract research organization, will manage various research services including clinical trial protocol development and data analysis. This partnership signifies a notable step towards alternative treatment solutions.

Positive

• Collaboration with Halucenex for Phase II clinical trials on psilocybin for PTSD.
• KGK's expertise in managing clinical trials enhances the likelihood of successful outcomes.

Negative

• None.

KGK to conduct Phase II clinical trial to test the efficacy of psilocybin on treatment resistant PTSD

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Wellbeing Digital Sciences Inc. (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics as supported by clinical research, announces that its wholly owned subsidiary KGK Sciences Inc. (“KGK”), has entered into a research services agreement with Halucenex Life Sciences Inc. (“Halucenex”), a psychedelic subsidiary of Creso Pharma (ASX:CPH, OTC:COPHF, FRA:1X8).

“We are thrilled to be working with Halucenex for their planned phase II clinical trials to test the efficacy of psilocybin on treatment resistant Post Traumatic Stress Disorder (PTSD). Over the past 25 years, we have successfully helped hundreds of companies with custom designed clinical trials and claim substantiation strategies that move products efficiently into the global markets,” commented Najla Guthrie, CEO of Wellbeing and KGK. “This marks and important step in moving the industry that much closer to creating alternative medicines for a growing population base.”

Under the research and services agreement with Halucenex, KGK will perform research services, including the development of the clinical trial protocol, preparations towards the Phase II clinical trials, data management and validation, statistical analysis and drafting of the final report (“Services”).

“KGK is a leading contract research organization (CRO), offering high-quality clinical research trials and expert regulatory support for the nutraceutical, cannabinoid, hemp and psychedelic industries,” added Bill Flemming, CEO and Founder of Halucenex. “We are confident that KGK’s role will enable us to make considerable progress towards creating alternative treatment solutions to current pharmacological interventions.”

ABOUT KGK SCIENCE

Subsidiary of Wellbeing Digital Sciences, KGK is a leading North American contract research organization based in London, Ontario that primarily provides high-quality clinical research trials with a focus on nutraceutical and emerging health care products. Founded in 1997, the business has successfully helped hundreds of companies with custom designed clinical trials and claim substantiation strategies to move products into global markets. KGK’s other existing service lines include expert regulatory support and compliance solutions, participant recruitment, research support services and consulting services. Furthermore, the company has produced over 150 publications, executed over 400 clinical trials across more than 40 indications, amassed 25,000 participants in its database and collected 10 million data points. For additional information, please visit kgkscience.com.

ABOUT WELLBEING DIGITAL SCIENCES

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical treatment solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development. For additional information, please visit wellbeingdigital.co.

About Creso Pharma

Creso Pharma Limited (ASX:CPH) brings the best of cannabis to better the lives of people and animals. It brings pharmaceutical expertise and methodological rigor to the cannabis world and strives for the highest quality in its products. It develops cannabis and hemp derived therapeutic, nutraceutical, and life style products with wide patient and consumer reach for human and animal health.

Creso Pharma uses GMP (Good Manufacturing Practice) development and manufacturing standards for its products as a reference of quality excellence with initial product registrations in Switzerland. It has worldwide rights for a number of unique and proprietary innovative delivery technologies which enhance the bioavailability and absorption of cannabinoids. To learn more please visit: www.cresopharma.com

On behalf of:

Najla Guthrie
Chief Executive Officer
WELLBEING DIGITAL SCIENCES

Notice Regarding Forward-Looking Information:

This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220720005909/en/

Natalie Dolphin

VP of Marketing & Investment Relations

Email: ir@wellbeingdigital.co

Twitter: @Wellbeing_IR

Source: Wellbeing Digital Sciences Inc.

FAQ

What is the goal of the Phase II clinical trial conducted by KGK for KONEF?

The goal is to test the efficacy of psilocybin on treatment-resistant PTSD.

When does the Phase II trial for psilocybin begin for KONEF?

The start date for the Phase II trial is not specified in the press release.

What services will KGK provide in the psilocybin clinical trial?

KGK will develop the clinical trial protocol, manage data, perform statistical analysis, and draft the final report.

How does the collaboration with Halucenex impact KONEF's market position?

The collaboration aims to advance alternative treatment solutions, potentially increasing KONEF's market presence in innovative therapies.

What is the significance of the psilocybin trial for COPHF investors?

Successful outcomes from the trial could enhance investor confidence and drive stock performance for COPHF.