Vancouver, British Columbia–(Newsfile Corp. – June 9, 2020) – The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) announces that it’s majority owned subsidiary NeonMind has filed an additional provisional patent application related to using psychedelics as medicine. The patent application covers the administration of a compound selected from the group consisting of lysergic acid diethylamide (“LSD“) and d-lysergic acid amide (“LSA“) (and compounds with similar molecular structure)in combination with an 5-HT2A antagonist to treat compulsive eating disorder, obesity and related illnesses.
Figure 1: NeonMind Expands Development of Psychedelic Patent Portfolio
The patent application was filed by NeonMind on June 5, 2020, and Translational Life Sciences Inc. (“TLS“) has a 20% interest as a co-collaborator on the development of intellectual property.
“Our research with our scientific team into using psilocybin to treat compulsive eating and food cravings has led to paths of inquiry for research into expanded medical uses of psychedelics,” says Penny White, NeonMind CEO, “We are excited to lay the groundwork for new areas of potential research for the future.”
The global projected market for weight loss and weight management treatment is estimated at USD $245 billion, according to MarketsandMarkets. The global projected market for diabetes treatment is estimated at $87 billion US Dollars, according to Modor Intelligence.
Research and development involving controlled substances such as psilocybin, LSD and LSA in Canada can only be conducted with approval by Health Canada. Section 56 of the Controlled Drug and Substances Act (Canada) grants Health Canada the right to give exemptions for research into controlled substances.
About Translational Life Sciences Inc.
TLS is a contract research organization and a life sciences company focused on developing proprietary formulations that contain restricted substances for clinical applications to serve unmet medical needs in the market. The TLS team is composed of physicians and scientists who are recognized thought leaders in the fields of Neurology, Pharmacology, Diabetes, Addiction and Biochemistry and have significant experience in the clinical application of cannabinoid compounds.
About NeonMind Biosciences Inc.
NeonMind is engaged in research and development for the use of psychedelic substances to treat compulsive eating, food cravings, provide weight loss benefits and as potential treatment or regulation of diabetes, and regulation of blood glucose, and to reduce susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus, hypertension, multiple sclerosis, erectile dysfunction, urinary incontinence, chronic renal failure, sleep apnea, asthma, and certain forms of cancer. NeonMind has retained contract research organization Translational Life Sciences Inc. to design and plan an initial preclinical study using psilocybin which is anticipated to begin in the fall of 2020. The preclinical study is anticipated to provide data to design phase 2 human clinical trials to test Psilocybin as a weight loss treatment. The phase 2 clinical trials are anticipated to begin in 2021, subject to receiving all required regulatory approvals. NeonMind is also developing a line of (non-psychedelic) mushroom infused products. NeonMind owns 18% of Translational Life Sciences Inc. Yield Growth owns approximately 68% of the issued and outstanding stock of NeonMind.
About The Yield Growth Corp.
The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) is a phytoceutical and consumer packaged goods company that develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes plant-based products that improve lives. It has over 200 proprietary wellness formulas at various stages of commercialization, including over 20 products that are now for sale through e-commerce or brick and mortar retail stores. It is currently launching several hand sanitizer products in response to COVID-19. Its majority owned subsidiary NeonMind Biosciences Inc. is launching a line of medicinal mushroom products and is developing intellectual property in the emerging area of psychedelic medicine. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, Skechers and Aritzia.
Investor Relations Contacts:
Penny White, President & CEO
Kevan Matheson, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies do to the spread of the Coronavirus, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Yield Growth cautions readers not to place undue reliance on forward-looking statements provided by Yield Growth, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Yield Growth expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.