MIAMI, Dec. 17, 2020 (GLOBE NEWSWIRE) — Ehave, Inc. (OTC Pink: EHVVF) (the “Company”), a leader of digital therapeutics delivering evidence-based therapeutic interventions to patients, announces that Ben Kaplan, President, Chief Executive Officer and Chairman, has issued a letter to Ehave’s stockholders. The full text is as follows:
To My Fellow Stockholders,
Over the course of 2020, Ehave, Inc. has made significant progress in advancing our strategic plan and hit many milestones in our journey. From a corporate standpoint, we are a fully reporting company with the SEC. We have applied for OTCQB registration and anticipate filing with the Canadian Securities Exchange by the end of the year. The combined efforts of our management team, Board of Directors, and medical advisory board has resulted in many accomplishments including the following highlights:
Ehave expanded its psychedelic mental health platform to better serve researchers and clinicians, while also allowing patients to take more control over their psychedelic medical records. The Ehave Dashboard is a data driven platform that has been strategically developed to provide better communication among medical practitioners and health care providers. The aggregation of data and information into one application has proven effective in streamlining the health process for both patients and providers. The cloud based platform can deliver critical features and capabilities to healthcare providers, all while enabling seamless integrations with everything from electronic health records (EHRs) to telehealth providers to psychedelic researchers and clinicians. The Ehave Dashboard has been developed through years of testing with mental healthcare professionals at one of Canada’s largest hospitals. In addition to providing better outcomes, the proprietary platform allows individuals to take control of their physical and mental health. 2020 marked a first for our Company as our data platform allowed patients to access innovative treatments to mental health by providing clinicians and pharmaceutical companies with data that will make the provision of care more readily available.
Ehave will utilize its Dashboard and digital technologies to assist psychedelic medicine companies in the creation of the new paradigm in how mental health is treated. Ehave target patients, doctors, and researchers to help them quickly authenticate or release personal, verified data and give more control in situations where trust cannot be compromised. By utilizing blockchain technology, Ehave can offer its medical partners an opportunity to lower their administration costs by up to 90%.
Our primary focus is, and always has been, improving mental health and combatting mental illness. Nearly one in five (19 percent) U.S. adults experience some form of mental illness and one adult in 24 (4.1 percent) has a serious mental illness. Mental illness is treatable and our mission is to treat even those with serious mental illness. Across the U.S. economy, serious mental illness causes $193.2 billion in lost earnings each year, while depression and anxiety disorders cost the global economy $1 trillion in lost productivity each year. Suicide is the 10th leading cause of death in the U.S. and 90% of people who died by suicide had shown symptoms of a mental health condition, according to interviews with family, friends and medical professionals. When you make strides in helping people with mental health, you get noticed. We have been continuously getting coverage around the technology and partnerships we are building.
Mycotopia Therapy. Mycotopia Therapy is a wholly-owned subsidiary of Ehave that offers a new paradigm for mental wellness. Our primary objective through Mycotopia Therapy is to provide a human experience of building a roadmap of optimal mind-body-spirit health. Our doctors and practitioners are disrupting the landscape by providing certainty on what is happening and what to do about it. Mycotopia Therapy has transformed into an ecosystem to nurture the development of therapies using psychedelics. Ehave, through its Mycotopia Therapy subsidiary, owns 10% of the company that produces the PsyTech Psychedelic Industry Virtual investor Conferences and recently announced plans to offer psychedelic retreats. The psilocybin-guided wellness retreats will be offered in various locations around the world, and will be supervised by qualified medical professionals in a safe, legal, and comfortable setting. These retreats will be in conjunction with our partner centers.
In January, 2020 Ehave announced the purchase of a 10 percent stake in Psychedelitech, Inc. through the Mycotopia Therapy subsidiary. Psychedelitech is the parent company of PsyTech, the world’s most recognized psychedelic conference. As a result of a recent financial transaction, Psychedelitech is valued at $15 million, making Ehave’s investment worth $1.5 million. Speakers at the PsyTech Virtual Investor Conferences have included Guy Lieberman, Director of Nahana Foundation; Liana Gillooly, Founder/Development Officer at North Star/MAPS; David Nikzad, Founder of Orthogonal Thinker Inc./Ei.Ventures; Stacey Wallin, Co-Founder and Chief Strategy Officer at Numinus Wellness, Inc.; Rick Doblin, Ph.D., Founder and Executive Director of the Multidisciplinary Association for Psychedelic Studies (MAPS); Todd Shapiro of Red Light Holland; Matthew Johnson, PhD., Professor of Psychiatry and Behavior at Johns Hopkins; Christian Angermayer, Founder of ATAI Life Sciences; Dr. Rosalid Watts, Clinical Psychologist at the Psychedelic Research Group at Imperial College London; Bruce Linton, Founder, and Former Chairman and Co-CEO of Canopy Growth Corporation; and Dr. Mark Braunstein, The Cannabis Psychiatrist and PsyTech Medical Advisor.
Partnership with Identity Key. Ehave recently announced it would be providing blockchain based identity verification software for the medical community as a plug-in on its Dashboard. Adopting blockchain technology to Ehave’s Dashboard has the potential to transform health care, placing the patient at the center of the health care ecosystem and increasing the security, privacy, and interoperability of health data. Blockchain technology is creating huge opportunities for patients, doctors, and researchers to access data in new ways with audit trails and verifiable authentication. Online ID verification is seeing a spike in demand driven by the current pandemic as many medical professionals send their staff to work remotely. During the pandemic there has been a strong surge in demand for videoconferencing communication between patients, providers, specialists, and other medical professionals. Medical records and patient information are still required by law to be secure. Patient identification and verification is one of the most difficult issues the healthcare sector faces during these turbulent times, but it is critical in imparting fast and effective healthcare services to patients. Ehave can provide a secure blockchain solution to psychedelic clinicians and researchers, as well as other medical professionals.
With a renewed research interest in LSD, MDMA, Ketamine, and Psilocybin, and a growing normalization after decades of stigma, psychedelics are quickly becoming the next therapeutic frontier. Ehave recently announced the formation of KetaDASH an Intravenous (IV) based, home delivery platform for patients who have been prescribed Ketamine. Ehave purchased the tangible and intangible assets of CureDash, which currently operates an IV delivery platform that will become the backbone of KetaDash. By providing the platform for medical practitioners to administer Ketamine intravenously to patients at home, we believe many more patients will get the treatment they require. Ketamine is currently used to help ease pain and allows sedatives to be effective at lower doses, lessening the amount of potentially addictive pain medication required after certain medical procedures. Ketamine is now being studied as a treatment for major depression, though it has not yet been approved by the FDA to treat depression. The KetaDASH platform will include software, staffing, protocols, and equipment. Ehave has designed a smart and intuitive dashboard for KetaDash from where the clients and the associated nurses can get detailed insight on how the Ketamine therapy is working. Patients will be able to create a profile, check availability of administering nurses, and schedule appointments. People are spending more time at home and home delivery has become more popular.
Ketamine was initially approved by the US Food and Drug Administration (FDA) in 1970 as an anesthetic agent that was administered intravenously or intramuscularly for use in diagnostic and surgical procedures. It is now available generically. Ketamine is now being studied as a treatment for major depression, though it has not yet been approved by the FDA to treat depression. Esketamine (Spravato, Janssen) was approved by the FDA last year for treatment-resistant depression. Esketamine is a medication used as a general anesthetic and for treatment-resistant depression. Esketamine is used as a nasal spray or by injection into a vein. Esketamine acts primarily as a non-competitive N-methyl-D-aspartate receptor antagonist. Many medical professionals believe Ketamine may have a unique potential particularly for cancer-related depression.
Addition of Key Personnel. Although Ehave has a relatively flat organizational structure, we always have a need for strong management and a well-qualified Board. 2020 marked the addition of several individuals joining the Company.
Alfred Farrington II joined our company as the Chief Information Officer. Mr. Harrington’s primary focus is research and development of high-performance technology devices and systems for collecting, analyzing, and processing performance data to provide efficient solutions to age-old problems.
Dr. Nithin Krishna, M.D., a neuroscience researcher, joined Ehave’s Medical Advisory Board. As a member of the Company’s Medical Advisory Board, Dr. Krishna’s main responsibilities will be to assist and advise the Company on human trials for its cognitive and psychedelic opportunities.
Victor S. Dorodny, MD, PhD, MPH joined our Advisory Board and will advise Ehave on HIPAA compliance and telemedicine technology. Dr. Dorodny was one of the creators of the Health Insurance Portability and Accountability Act of 1996 (HIPAA). He has served on the Advisory Board of the Association of Medical Director of Information Systems and is the Past President of the Western Division of the National Association of Managed Care Physicians. Dr. Dorodny has served in an executive capacity of several companies where he has held the title of Chief Medical Information Officer, Chief Scientific Advisor, and Chief Medical Officer.
Russell Schachar, MD, FRCP(C) joined Ehave as Chief Medical Officer. Dr. Schachar is a practicing child and adolescent psychiatrist, Professor in the Department of Psychiatry at the University of Toronto, and Senior Scientist in the Research Institute at the Hospital for Sick Children in Toronto, Canada where he holds the TD Bank Chair in Child and Adolescent Psychiatry and heads a cognitive neurosciences laboratory which focuses on psychiatric disorders of childhood and adolescence.
Dr. Manideep Reddy (MD,MBA) is a solution focused doctor and healthcare consultant experienced in working with client, government and enterprise facing projects. His recent engagements include setting up a Molecular genetics project, telemedicine infrastructure for hospital chain in Singapore and Malaysian market, compliance and distribution infrastructure for neuroscience medications, molecular commercialization exit pathways for its generic molecules in cardiopulmonary and rheumatological diseases, and the contract manufacturing facilities across 5 locations in India to manufacture the generic molecules for immunological and dermatological diseases.
As I mentioned, we are delighted with our progress to date and are very excited about our momentum and Ehave’s future prospects. I would like to thank our employees, partners, and Advisory Board for their outstanding efforts and commitment, and our investors for their continued support. We look forward to a strong 2021.
Additional Ehave Inc. Information
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About Ehave, Inc.
Ehave, Inc. (EHVVF) is a leader of digital therapeutics delivering evidence-based therapeutic interventions to patients. Our primary focus is on improving the standard care in therapeutics to prevent or treat brain disorders or diseases through the use of digital therapeutics, independently or together, with medications, devices, and other therapies to optimize patient care and health outcomes. Our main product is the Ehave Telemetry Portal, which is a mental health informatics platform that allows clinicians to make objective and intelligent decisions through data insights. The Ehave Infinity Portal offers a powerful machine learning and artificial intelligence platform with a growing set of advanced tools and applications developed by Ehave and its leading partners. This empowers patients, healthcare providers, and payers to address a wide range of conditions through high quality, safe, and effective data-driven involvement with intelligent and accessible tools. For more information visit: www.ehave.com.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading “Risk Factors” in Ehave, Inc.’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC’s website, http://www.sec.gov.
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