MYND Executes LOI to Enter into a Clinical Research Collaboration with Revitalist

Rhea-AI Summary

MYND Life Sciences Inc. (CSE: MYND, OTC: MYNDF) announces a binding LOI with Revitalist Lifestyle and Wellness to collaborate on clinical research. This partnership aims to study the MAP biomarker’s effectiveness in diagnosing and monitoring mental health, particularly in patients experiencing post-COVID-19 symptoms like 'Brain Fog.' The objective is to provide a more objective diagnostic tool for healthcare providers and to gain FDA approval by Q2 2022. MYND anticipates generating revenue through research and aims to expand its mental health studies leveraging Revitalist's extensive clinic network.

Positive

• Executed a binding LOI with Revitalist to collaborate on clinical research.
• Aiming to submit MAP biomarker data to the FDA for approval by Q2 2022.
• Potential revenue generation through upcoming research and development projects.

Negative

• None.

Focused on generating data through proprietary biomarkers and diagnostic testing of inflammation

VANCOUVER, BC, Nov. 9, 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 executed a binding letter of intent ("LOI") with REVITALIST LIFESTYLE AND WELLNESS LTD. ("Revitalist") (CSE:CALM) (OTC:RVLWF) (FSE: 4DO) to enter into a clinical research collaboration studying a link between diagnostic results and improved patient outcomes using MYND Diagnostics' proprietary anti-inflammatory peptide ("MAP") biomarker. The MAP diagnostic is intended to give health care providers an objective monitoring tool to detect and diagnose mental illness more accurately than the current diagnostic methodology, which can be very subjective. If successful, this biomarker test has the potential to lead to earlier diagnosis of mental illness and ongoing treatment decisions with the goal of improving patient outcomes by providing more tailored and efficacious treatments.

The goal of the collaboration with Revitalist is to utilize their broad network of clinics with patients suffering from mental illness to commence clinical trials to demonstrate MAP's ability to diagnose and monitor mental health in order to gain approval by the U.S. Food and Drug Administration ("FDA"). The parties anticipate that initial clinical trial will be focused on patients with mental health issues who had previously been infected with COVID-19 and are seeking medical help for post COVID-19 mental health symptoms ("Brain Fog"). The World Health Organization reports that COVID-19 has affected more than 249 million individuals¹. Research indicates that approximately 50% on average of those with COVID-19 have reported having lasting effects². Revitalist has a network of over 2,300 patients through its multiple clinics in the United States, with many of those patients having been previously infected with COVID-19 and seeking specialized treatments to deal with Brain Fog and other lasting effects.

Dr. Lyle Oberg, MD, CEO of MYND stated "A critical step in diagnostics development is demonstrating that an investigational tool produces consistent results. With the new collaboration we intend to design next phase clinical validation studies and take blood samples from existing patients at Revitalist with an expectation that we will submit the MYND biomarker (MAP) data to the FDA for approval in Q2 of 2022. The Company anticipates generating near-term revenue through research and development projects related to MAP. Ultimately, MYND intends to work with physicians to adopt MAP in their practices and provide access to patients and insurance providers for reimbursement when utilizing our proprietary diagnostic. We anticipate that working with Revitalist will be our first of many mental health studies. Their comprehensive network of patients and expert providers will provide the MYND Diagnostics team with optimal research conditions to study MAP in patients so dearly needing better diagnostic and treatment options."

Kathryn Walker, CEO of Revitalist stated "We are excited to be working with MYND Diagnostics to potentially diagnose and monitor mental health using MAP. Prior to MAP the only diagnostic for mental health was an interview with the patient regarding their history of symptoms, which of course can be very subjective. A diagnostic tool such as MAP would allow for a more objective diagnosis and monitoring, hopefully resulting in a higher level of care and treatments for our patients. One size doesn't fit all with mental health and treatments that work for some may not work for others. Utilizing MAP would allow us to quickly adjust treatments to better address patient specific mental health issues."

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/

ABOUT REVITALIST LIFESTYLE AND WELLNESS

Revitalist Lifestyle and Wellness Ltd. is a publicly traded company, headquartered in Knoxville, Tennessee, with five clinics operating across the United States and expanding. Revitalist is dedicated to empowering individuals toward an improved quality of well-being through a combination of comprehensive care and future-centric treatments provided by medical professionals, mental health experts, and chronic pain specialists. Since opening their first clinic in 2018, Revitalist has provided thousands of infusions for patients suffering from treatment-resistant conditions. Additionally, Revitalist offers a number of lifestyle optimization services and vitamin infusions that can bring anyone closer to total wellness.

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.

1	https://covid19.who.int/
2	https://journals.plos.org/plosmedicine/article?id=10.1371/journal.pmed.1003773#sec016

 

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SOURCE Mynd Life Sciences Inc.

FAQ

What is the focus of MYND's collaboration with Revitalist?

The collaboration aims to study the MAP biomarker for diagnosing and monitoring mental health, particularly in patients affected by post-COVID-19 symptoms.

When does MYND plan to submit MAP biomarker data to the FDA?

MYND anticipates submitting the MAP biomarker data to the FDA for approval in Q2 of 2022.

What is the significance of the MAP biomarker in mental health diagnostics?

MAP is designed to provide a more objective tool for diagnosing mental illness, improving the accuracy and treatment decisions compared to current subjective methods.

How many patients does Revitalist have for the clinical trials?

Revitalist has a network of over 2,300 patients who could participate in the clinical trials.

What are the anticipated outcomes of the clinical trial with MAP?

The trial aims to demonstrate MAP's ability to diagnose and monitor mental health, potentially leading to better treatment options and outcomes for patients.