Vancouver, British Columbia–(Newsfile Corp. – December 10, 2019) – The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) announces its subsidiary Flourish Mushroom Labs has filed a U.S. provisional patent application in the United States for the invention relating to methods of using serotonin agonists, in particular, psychedelic mushroom actives, for weight loss.
The Flourish Mushroom Labs pending patent seeks to protect the invention that administration of psilocin and/or psilocybin results in an overall weight loss in individuals by reducing food cravings, counteracting compulsive overeating, and aiding in improving quality of diet by altering food choices. The patent pending covers the use of microdose administration of psilocin/psilocybin to have the additional weight loss effect of increasing metabolism, which, combined with a decrease in food cravings or compulsive overeating, or altering food choices to less calorie dense foods, could result in substantial and beneficial weight loss. The Flourish Mushroom Labs pending patent also covers the use of psilocin/psilocybin in treatment or regulation of diabetes, and regulation of blood glucose and to reduce susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus and other illnesses associated with obesity.
Obesity has been formally recognized by the World Health Organization as a global epidemic. Over 35% of adults in the United States, and more than 500 million adults worldwide are categorized as obese. Obesity is expected to cause or contribute to hundreds of thousands of deaths per year in the United States alone. Obesity reduces life expectancy, increases susceptibility to other disease states such as cardiovascular disease, high blood pressure, diabetes mellitus, hypertension, multiple sclerosis, erectile dysfunction, urinary incontinence, chronic renal failure, sleep apnea, asthma, and many forms of cancer. In addition to the clinically defined obese (those with a Body Mass Index (in kg/m2) of greater than 30), a large percentage of the population, while not obese, are overweight. Obesity and overweightness is a leading preventable cause of death worldwide.
In most cases, obesity and overweightness is caused by a food energy intake that exceeds energy use. Unfortunately, decreasing caloric intake can be very difficult for many people. The dieting industry is enormous, with some estimates showing that Americans spend over $60 billion annually on diet and weight loss products. Unfortunately, many of these diets do not work long term. One theory for this is because it is not enough to temporarily change food intake; rather, an individual’s behavior needs to change for long term success.
Quality of diet also has a significant impact on obesity and overweightness, with low caloric content foods such as green vegetables contributing less to obesity than calorie dense foods which have high calories for their volume, such as refined carbohydrates. Interestingly, human food preferences (such as preferences for certain types of food) have been linked with a 5-HT2A serotonergic receptor polymorphism (Prado-Lima et al, Mol Psychiatry 2006 Oct).
Psilocin/psilocybin is known as 5-HT2A agonists or partial agonists. Psilocin has no approved or common medical use. However, the Heffter Research Institute (heffter.org) has published research indicating that psilocybin can relieve the symptoms of anxiety and depression often found in patients with a cancer diagnosis, as well as for treatment of addiction and obsessive-compulsive disorder. Usona Institute is currently in the planning phase for a phase 2/3 clinical research program on use of psilocybin as a treatment for major depressive disorder (www.usonaclinicaltrials.org).
The U.S. provisional patent application provides a right of priority under the Paris Convention as well as the Patent Cooperation Treaty. This means it establishes an effective filing date for inventions adequately described within it for PCT applications or applications in more than 170 countries who are members of the Paris Convention, as long as the foreign application is filed within one year of the provisional filing date.
About Flourish Mushroom Labs Inc.
Created and incubated by the team at The Yield Growth Corp., Flourish Mushroom Labs aims to be a leader in the fast growing functional foods market-and improve life by offering high-quality mushroom-infused products. Flourish Mushroom Labs is also conducting research into potentially therapeutic benefits of compounds found in psychedelic mushrooms. Flourish Mushroom Labs is a majority owned subsidiary of The Yield Growth Corp.
About The Yield Growth Corp.
The Yield Growth Corp. is developing cannabis and edible mushroom products and conducting research into uses, methods and products that improve life in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. It owns the cannabis wellness brands Urban Juve, Wright & Well and Jack n Jane. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, M·A·C Cosmetics, Skechers and Aritzia. Its all natural hemp skincare brand, Urban Juve, has signed agreements for distribution in Canada, Colombia, Brazil, Costa Rica, Panama, Argentina, El Salvador, Ecuador, Peru, Greece, Cyprus, Bulgaria, Romania and Serbia. Yield Growth’s Wright & Well brands are launching a THC/CBD line of topical and edible products in Oregon this month and a CBD from hemp topicals line in California in 2020. Through its subsidiaries, Yield Growth has over 200 proprietary beauty, wellness, edibles and beverage formulas for commercialization. It has filed 13 patents to protect its extraction method and other intellectual property. Yield Growth earns revenue through multiple streams including licensing, services and product sales.
Investor Relations Contacts:
Penny White, President & CEO
Kristina Pillon, 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, intellectual property protection, 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. The laws around cultivating, selling and using psychedelic mushrooms would need to change in most jurisdictions in order for the use of psychedelic products to be legal and sale of, and demand for, Urban Juve, Wright & Well, Flourish Mushroom Labs, Jack n Jane and UJ Beverages 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.