MYND Life Sciences announces funding for Psilocybin research on Neuroinflammation

Rhea-AI Summary

MYND Life Sciences has received a grant of $45,600 from the Government of Canada to support research on the effects of psilocybin in treating brain diseases. The funding will aid a project titled Phytochemical-analog(s) as a novel method for management of treatment-resistant depression, running from November 2021 to March 2022. The project aims to explore how psilocybin analogs can modulate brain function by targeting specific gene pathways. The company is committed to advancing neuro-pharmaceutical innovations.

Positive

• Secured $45,600 funding from the Government of Canada.
• Research project aims to advance treatment options for depression.
• Collaboration with National Research Council enhances R&D capabilities.

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• None.

R&D project on psilocybin's benefits in treating diseases of the brain

VANCOUVER, BC, Nov. 30, 2021 /PRNewswire/ - MYND Life Sciences Inc.  ("MYND" or the "Company") (CSE: MYND) (OTC: MYNDF) is pleased and extremely grateful to acknowledge the financial contribution from the Government of Canada towards an important component of its research and development into the positive effects of psilocybin on treating diseases of the brain.

MYND Life Sciences will benefit from advisory services and up to $45,600 in funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support a prescribed research and development project that will run from November 2021 to March 2022.

"We are very pleased for the support from the Government of Canada, both from the business advisory perspective, as well as the valued funding support," said Dr. Lyle Oberg, MD, CEO, MYND Life Sciences. "We are taking a broad-based, measured approach to harness private capital  investment, invaluable university research infrastructure, and guidance backed with funding from important government research enablers to tackle some of the most serious diseases of the brain and central nervous system."

The project is titled Phytochemical-analog(s) as a novel method for management of treatment resistant depression. The objective of the research and development is to determine how psilocybin analogs target a particular gene pathway to modulate brain function.

"This support through NRC IRAP is well timed and will enable an important piece of our overall approach to creating novel innovations to improve the lives of people suffering from diseases of the Central Nervous System," stated Dr. Wilfred Jefferies, Chief Science Officer, MYND Life Sciences.

ABOUT MYND LIFE SCIENCES INC.

MYND Life Sciences 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 MYND's mailing list, please visit https://myndsciences.com/contact/.

CONTACT INFORMATION
Dr. Lyle Oberg, MD, CEO
Email: ir@myndsciences.com 
Web: www.myndsciences.com

Forward-Looking Statements

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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.

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SOURCE Mynd Life Sciences Inc.

FAQ

What funding has MYND Life Sciences received for its psilocybin research?

MYND Life Sciences received $45,600 from the Government of Canada to support its psilocybin research project.

What is the focus of MYND Life Sciences' research project?

The focus is on developing psilocybin analogs for managing treatment-resistant depression.

When is the MYND Life Sciences research project scheduled to run?

The research project is scheduled to run from November 2021 to March 2022.

How does the funding from Canada benefit MYND Life Sciences?

The funding supports research and development aimed at innovative treatments for brain diseases.