MINDCURE Develops Proprietary Ketamine-Enhanced Psychotherapy Protocols for Treatment of Pain and Depression

Rhea-AI Summary

Mind Cure Health has developed two proprietary ketamine-enhanced psychotherapy protocols targeting pain and depression, created by Dr. Mitch Earleywine. This milestone positions the company to launch its digital therapeutics platform, iSTRYM, in Q3 2021. The software will provide therapists with science-backed protocols and has potential for broad access in North America. Additionally, the company announced changes in its executive team, and granted 100,000 stock options at $0.385 each.

Positive

• Development of two proprietary ketamine-enhanced psychotherapy protocols for pain and depression.
• iSTRYM set to launch in Q3 2021, providing therapists with access to science-backed protocols.

Negative

• Executive team changes with the departure of Chief Science Officer Ryan Hartwell.

MINDCURE will distribute these protocols to therapists through iSTRYM, its digital therapeutics platform. This milestone in protocol development unlocks the company's protocol distribution platform in time for iSTRYM's clinical MVP launch in Q3 2021.

VANCOUVER, BC, June 17, 2021 /PRNewswire/ - Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) ("MINDCURE" or the "Company"), a leader in advanced proprietary technology and research for psychedelics, is pleased to announce it has developed two proprietary ketamine-enhanced protocols for psychedelic-assisted psychotherapy – one for treating pain and another for treating depression.

These proprietary protocols were developed for MINDCURE by Dr. Mitch Earleywine, Professor of Psychology at the University at Albany, SUNY, and Co-Founder at Wisdom In Nature Consulting Group. Dr. Earleywine has over 250 papers published in peer-reviewed journals that address psychedelic-assisted treatments, substance abuse, depression, health, and personality. He is also the co-developer of Integrative Ketamine-Enhanced Psychotherapy for affective, trauma and stressor-related disorders.

"We have taken the best of the validated treatments for common clinical conditions and made them simpler and easier to implement by adding accessible technology," said Dr. Earleywine.

"I am proud to have reached this psychedelic-assisted drug protocol milestone with our team and respected collaborator, Dr. Earleywine. Part of our strategic model is to be the distribution network of the psychedelic-assisted psychotherapy industry, enabling scalable treatment by using iSTRYM's science-backed, evidence-based protocols and AI data systems," said Kelsey Ramsden, MINDCURE President and CEO. "Delivering on this milestone - having ketamine-enhanced psychotherapy protocols available through our digital therapeutics platform - confirms our end-to-end care model. For clinics, this means access to a broad menu of services. For psychedelic companies, we offer partnership opportunities to distribute their protocols. We're moving forward with enthusiasm and remain on schedule to launch iSTRYM's MVP to select clinics in Q3 of this year."

iSTRYM is a first-of-its-kind software application that optimizes the healing journey for both patients and clinicians — before, during, and after therapy sessions. By bringing together a variety of healing solutions, iSTRYM offers therapists global, science-backed protocols, customizable dashboards, integration plans, insights into patient journeys, and real-time assessments for personalized client care.

Developing the distribution network of content and care protocols for psychedelic drugs allows MINDCURE to create value at all levels of the value chain: client, clinic, protocol developer, and drug developer. Currently in development, iSTRYM will be available to a select number of clinics throughout North America in Q3 2021. The software will be launched broadly and commercially to clinics in Q1 2022.

In addition to this news, MINDCURE also announces that as part of recent executive team changes, Dr. Ryan Hartwell will no longer be serving in his position as Chief Science Officer. The Company extends its gratitude and appreciation to Dr. Hartwell for his early contributions and leadership of the scientific team at MINDCURE.

The Company also announces it has granted a total of 100,000 stock options to certain employees or consultants pursuant to the terms the Company's incentive stock option plan ("Plan"). The stock options are exercisable at a price of $0.385 per share, and are subject to the terms of the Plan.

About Mind Cure Health Inc.
MINDCURE is a life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health. The company is developing digital therapeutics technology and researching psychedelic compounds to support access to safe, evidence-based psychedelic-assisted therapies globally. Learn more at mindcure.com, and follow us on Facebook, Twitter, and Instagram.

On Behalf of the Board of Directors
Kelsey Ramsden, President & CEO
Phone: 1-888-593-8995

Forward-Looking Information
Certain information presented in this news release may constitute "forward-looking information" within the meaning of applicable securities laws regarding MINDCURE and its business.  Forward-looking information inherently entails known and unknown risks and uncertainties about the future and actual results, performance or achievements contemplated by forward-looking statements made may be materially different from the results anticipated 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. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: MINDCURE's new ketamine-enhanced protocols in treating pain and depression; and iSTRYM.  

Forward-looking information is based on a number of key expectations and assumptions made by management of MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE's business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE's business; there will be a demand for MINDCURE's products in the future; no unanticipated expenses or costs arise; Mind Cure will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that the functional mushroom industry will continue to grow; that the ketamine-enhanced protocols for treating pain and depression will get developed and these new protocols proving to be effective in treating pain and depression as contemplated; and iSTRYM functioning as effectively, and providing the benefits, as contemplated.

Although Mind Cure has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking information presented, there may be other factors that cause results, performance or achievements to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements as no forward-looking information can be guaranteed.

Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Mind Cure does not undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.

The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.

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SOURCE Mind Cure Health Inc.

FAQ

What new protocols has Mind Cure Health developed?

Mind Cure has developed two proprietary ketamine-enhanced protocols for treating pain and depression.

When will iSTRYM be launched?

iSTRYM is scheduled to launch in Q3 2021, with broader access in Q1 2022.

Who developed the ketamine-enhanced protocols for Mind Cure Health?

The protocols were developed by Dr. Mitch Earleywine, a Professor of Psychology at the University at Albany.

What stock options were granted by Mind Cure Health?

Mind Cure Health granted 100,000 stock options at an exercise price of $0.385 per share.

What changes occurred in Mind Cure Health's executive team?

Dr. Ryan Hartwell is no longer serving as Chief Science Officer.