MINDCURE's Proprietary Bioinformatics Platform, PsyCollage, Beta Tested and Deployed for Product Discovery and Lead Optimization
MINDCURE has successfully completed beta testing of its PsyCollage bioinformatics platform, reaching its Q1 milestone. This platform enhances drug lead optimization and the discovery of target receptors in psychedelic research. PsyCollage has identified key indications, including neuropathic pain and migraines, and aims to facilitate strategic partnerships. Additionally, 800,000 stock options were granted to employees at a price of $0.65 per share. The company is committed to innovating mental health care and addressing the urgent need for effective treatments.
- Completed beta testing of PsyCollage, achieving Q1 milestone.
- PsyCollage aids drug lead optimization and target receptor discovery.
- Identified priority indications: neuropathic pain, migraines, and more.
- 800,000 stock options granted at $0.65 per share.
- None.
MINDCURE's PsyCollage tool to drive decision-making for drug lead optimization and assist in the discovery of target receptors.
VANCOUVER, BC, Feb. 16, 2021 /PRNewswire/ - Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) ("MINDCURE" or the "Company") is pleased to announce that it has completed beta testing of its proprietary bioinformatics platform PsyCollage, achieving its Q1 testing milestone.
Bioinformatics is an interdisciplinary field that develops methods and software tools for understanding biological data with large and complex data sets. MINDCURE's first-generation bioinformatics platform resides within the Company's Product Discovery sphere, led by Chief Scientific Officer, Dr. Ryan Hartwell.
PsyCollage will be used to drive decision-making using predictive correlative statistical analytics of documented research in psychedelics. PsyCollage has evolved through its development into a turnkey (database/data mining) resource for discovery and analysis of target receptors, methods, and historical clinical trial data. It is a valuable resource for mapping strategic business partnerships in the psychedelic community.
PsyCollage has already helped MINDCURE to identify neuropathic pain, migraines, cluster headaches, and traumatic brain injury as priority indications. The Company is currently evaluating additional use-cases and commercialization scenarios for PsyCollage.
"MINDCURE's approach is to mine and optimize the vast body of knowledge in psychedelic research. The PsyCollage platform was developed to help MINDCURE accelerate research and planning to identify the therapeutic potential of psychedelic compounds and inform our priority research programs," said Kelsey Ramsden, President & CEO, MINDCURE. "I believe that developing technological tools to expedite and direct our pursuit of drug discovery, and ultimately, to aid those suffering from both physiological and psychological pain, will be one of our greatest value drivers. With this strategic focus, we're reinforcing our commitment to accelerating research to solve how the world addresses pain and suffering, and substantiating our role as leaders in psychedelic science."
By providing accessibility into the best available scientific knowledge relating to psychedelic pathways, processes, and experiences, PsyCollage will restructure the understanding of a scientific field that has historically struggled for wide acceptance.
The Company has granted a total of 800,000 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
About Mind Cure Health (MINDCURE) Inc.
MINDCURE exists as a response to the current mental health crisis and urgent calls for effective treatments. MINDCURE drives to reinvent the mental health care industry for patients and practitioners.
MINDCURE is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. The Company 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
Kelsey Ramsden, President & CEO
Phone: 1-888-593-8995
Forward-Looking Information
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: PsyCollage driving decision-making for drug lead optimization and assisting in the discovery of target receptors for MINDCURE; PsyCollage being used to drive decision-making using predictive correlative statistical analytics of documented research in psychedelics; PsyCollage as a turnkey (database/data mining) resource for discovery and analysis of target receptors, methods, and historical clinical trial data; PsyCollage's ability to map strategic business partnerships; MINDCURE evaluating additional use-cases and commercialization scenarios for PsyCollage; PsyCollage's ability to help MINDCURE accelerate research and planning to identify the therapeutic potential of psychedelic compounds and inform our priority research programs; developing technology tools developing technological tools to expedite and direct our pursuit of drug discovery will drive the greatest value for MINDCURE; and PsyCollage's ability to restructure the understanding of a scientific field that has historically struggled for wide acceptance.
Forward-looking information is based on a number of key expectations and assumptions made by 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; MINDCURE 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; PsyCollage will perform as anticipated and provide results and benefits for which it is intended; PsyCollage will help MINDCURE achieve its business and research goals; and MINDCURE will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what MINDCURE 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, MINDCURE's industry and MINDCURE's business, which may negatively impact, and may continue to negatively impact, MINDCURE and may materially adversely affect MINDCURE's investments, results of operations, financial condition, and MINDCURE's ability to obtain additional equity or debt financing, and satisfy its financial obligations; general economic conditions; future growth potential; competition for mental health and wellness investments; PsyCollage may not perform as anticipated and may not provide results and benefits for which it is intended; the addition of PsyCollage may not help MINDCURE achieve its business and research goals; 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 MINDCURE can be found under "Risk Factors" in MINDCURE's final 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 MINDCURE. The forward-looking information is stated as of the date of this news release and MINDCURE 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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SOURCE Mind Cure Health Inc.
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