MYND Diagnostics Commences Clinical Research on Alzheimer's Disease

Rhea-AI Summary

MYND Life Sciences has announced the initiation of a clinical validation study for its proprietary biomarker testing in Alzheimer's Disease (AD) diagnostics. The study, conducted by its subsidiary MYND Diagnostics, aims to utilize the MAP biomarker to enhance early diagnosis and monitoring of AD. The validation is set to commence in Q1 2022, with anticipated FDA submission for approval in H2 2022. Currently, around 44 million people are affected by AD worldwide, and the diagnostics market was valued at USD 6.6 billion in 2020, projected to reach USD 9 billion by 2026.

Positive

• Initiating clinical validation study for MAP biomarker in Alzheimer's diagnostics.
• Potential to provide early, accurate diagnosis and monitoring capabilities.
• FDA submission for commercialization expected in H2 2022.
• Market for Alzheimer's diagnostics projected to grow significantly.

Negative

• None.

The Company will be initiating a clinical validation study on the use of its proprietary biomarker testing in Alzheimer's Disease diagnostics

VANCOUVER, BC, Nov. 16, 2021 /PRNewswire/ - MYND LIFE SCIENCES INC. ("MYND" or the "Company") (CSE: MYND) (OTC: MYNDF) is pleased to announce its wholly-owned subsidiary MYND DIAGNOSTICS INC. ("MYND Diagnostics") has commenced clinical research on a testing procedure for diagnosing and monitoring Alzheimer's Disease ("AD") utilizing the Company's proprietary anti-inflammatory peptide ("MAP") biomarker.

"Our research team has begun to research and explore the potential application of our proprietary MAP biomarker for use in the identification of Alzheimers disease", stated Dr. Lyle Oberg, CEO of MYND. "The ability to make an early, accurate, dependable diagnosis in Alzheimer's Disease patients thereby allowing for earlier intervention is a huge step forward in the fight against this terrible disease. We are extremely excited that the MAP biomarker has the potential to bridge that gap. The Company's ultimate goal specific to diagnostics is to provide a cost-effective, easy to use diagnostic test kit that can be administered from anywhere with a dried blood spot. Helping families and health care practitioners with an effective tool for early diagnosis, monitoring and treatment for the millions impacted by this disease will be a significant innovation in central nervous system medicine".

MYND Diagnostics will be initiating a clinical validation of the MAP biomarker in AD by collecting known blood samples of AD and quantifying the presence of MAP against control samples. This validation is planned to start in first quarter 2022.  Pending those results, the Company anticipates that a submission for FDA approval could take place as early as second half 2022 to prepare for commercialization and making the MAP Biomarker available to the public through healthcare practitioners. The Company's goal is to develop diagnostic test to monitor and potentially diagnose inflammatory diseases of the central nervous system such as Alzheimer's Disease. The Company's diagnostic test is intended to give health care providers an objective monitoring tool to improve patient outcomes by providing more tailored and efficacious treatments.

Approximately 44 million people worldwide live with AD or a related form of dementia.¹  It is the sixth-leading cause of death in the U.S., killing more people than breast cancer and prostate cancer combined.² Only approximately one in four people with the disease get diagnosed.³ Further, the Alzheimer's disease diagnostics and therapeutics market was valued at USD 6.6 billion in 2020, and it is expected to reach approximately USD 9 billion in 2026, registering a CAGR of nearly 5.36% during the forecast period, 2021-2026.⁴

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1	https://alzheimersnewstoday.com/alzheimers-disease-statistics/
2	https://alzheimersnewstoday.com/alzheimers-disease-statistics/
3	https://alzheimersnewstoday.com/alzheimers-disease-statistics/
4	https://www.researchandmarkets.com/reports/4591925/alzheimers-disease-diagnostics-and- therapeutics?utm_source=BW&utm_medium=PressRelease&utm_code=stxjrv&utm_campaign=1533504+-+Alzheimer%27s+Disease+Diagnostics+and+Therapeutics+Market+-+Global+Growth%2c+Trends%2c+COVID-19+Impact%2c+and+Forecasts+2021-2026%3a+Focus+on+Cholinesterase+Inhibitors+%26+NMDA+Receptor+Antagonists&utm_exec=chdo54prd

ABOUT MYND LIFE SCIENCES INC.

MYND Life Sciences Inc., the parent company of MYND Diagnostics Inc., is a medical biotech drug research and development company focused on neuro-pharmaceutical and novel psilocybin drug development, diagnostics and vaccines. The Company is advancing pharmaceuticals through rigorous science and clinical trials, while diligently patenting and safeguarding its intellectual property. For more information and to subscribe to the Company's mailing list, please visit https://myndsciences.com/contact/.

CONTACT INFORMATION

MYND Life Sciences Inc.
Dr. Lyle Oberg, MD, CEO
Email: ir@myndsciences.com
Web: www.myndsciences.com

Forward-Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MYND to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this release.  

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

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SOURCE Mynd Life Sciences Inc.

FAQ

What is the purpose of MYND's clinical validation study for the MAP biomarker?

The study aims to validate the MAP biomarker for diagnosing and monitoring Alzheimer's Disease.

When will the clinical validation study for Alzheimer's diagnostics start?

The clinical validation study is set to commence in the first quarter of 2022.

When does MYND anticipate submitting for FDA approval?

MYND expects to submit for FDA approval in the second half of 2022.

How many people are affected by Alzheimer's Disease worldwide?

Approximately 44 million people worldwide live with Alzheimer's or related forms of dementia.

What is the expected growth of the Alzheimer's diagnostics market?

The Alzheimer’s diagnostics market is projected to grow from USD 6.6 billion in 2020 to approximately USD 9 billion by 2026.