MINDCURE Discovers Potential Opportunity for Ibogaine-Assisted Psychotherapy to Treat Neuropathic Pain and Traumatic Brain Injury
March 4th, 2021
Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“MINDCURE”) a leader in developing technology to advance psychedelic-related treatments, is pleased to announce that the Company’s bioinformatics platform, PsyCollage, has identified opportunities for ibogaine to support neuroregenerative pathways that the Company believes could be pivotal in treating neuropathic pain and brain trauma.
Ibogaine is a psychoactive substance extracted from the iboga shrub native to West Africa. Contributing to its powerful anti-addiction actions, ibogaine is associated with increases in the levels of brain neurotrophic factors, particularly GDNF and BDNF, which have potent neuroregenerative and neuroprotective properties.1 Ibogaine is thought to repair and reset the brain’s reward system, facilitating detoxification in the context of addiction. In addition, it may stimulate the growth of new dopamine neurons, which further supports its therapeutic potential for neurodegenerative conditions such as Parkinson’s and Alzheimer’s disease.1
For these reasons, MINDCURE is synthesizing ibogaine, as announced in a news release dated March 3, 2021, to be used in the Company’s preclinical and clinical trials. Recently, the Company’s PsyCollage platform has identified the opportunity for the use of ibogaine to address neuropathic pain and brain trauma.
“PsyCollage ensures we are moving in the right direction in our mission to provide alternative and effective treatment options for psychological and physiological pain,” said Kelsey Ramsden, President & CEO, MINDCURE. “Ibogaine has centuries of therapeutic history reinforcing its potential to heal pain. As one of the first companies to manufacture synthetic ibogaine, we’re confident our research and development teams can help contribute to the drug’s uses and develop protocols that ultimately progress healing in Canada and around the world.”
Ibogaine has been used by West African communities for centuries in rituals and healing ceremonies. It was first introduced to the western world in 1864, and later marketed in France as a “neuromuscular stimulant” to combat fatigue, depression, and infectious disease between 1939-1970.2 The U.S. made possession of ibogaine illegal in 1967, and the U.S. FDA classified ibogaine as a schedule I drug in 1970, along with psilocybin and LSD. In Canada, Ibogaine was unregulated until 2017 when Health Canada added it to the Prescription Drug List, severely limiting legal access; however, more recently, the regulatory landscape is again becoming more favourable.
1 Soledad Marton et al., “Ibogaine Administration Modifies GDNF and BDNF Expression in Brain Regions Involved in Mesocorticolimbic and Nigral Dopaminergic Circuits,” Frontiers in Pharmacology 10 (May 2019), https://doi.org/10.3389/fphar.2019.00193.
2 Thomas Brown, “Ibogaine in the Treatment of Substance Dependence,” Current Drug Abuse Reviews 6, no. 1 (May 1, 2013): pp. 3, https://doi.org/10.2174/15672050113109990001.
“Ibogaine’s therapeutic potential isn’t a new concept. MINDCURE’s bioinformatics platform, PsyCollage, however, gives us a starting point and a plethora of research to continue guiding us as we investigate ibogaine’s regenerative potential for healing, with a primary focus on brain trauma and neuropathic pain,” said Ryan Hartwell, Chief Scientific Officer, MINDCURE.
PsyCollage is MINDCURE’s proprietary bioinformatics platform used to direct MINDCURE’s research team in product discovery activities and decision-making. PsyCollage works by compiling predictive correlative statistical analytics from decades of documented clinical research. PsyCollage has developed into a turnkey resource for discovering target receptors and methods, managing clinical trial data, and mapping strategic business partnerships.
About Mind Cure Health (MINDCURE) Inc.
MINDCURE exists as a response to the current mental health crisis and urgent calls for effective treatments. MINDCURE believes in the need to reinvent the mental health care model for patients and practitioners to allow psychedelics to advance into common and accepted care.
MINDCURE is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. MINDCURE is interested in exploring diverse therapeutic areas beyond psychiatry, including digital therapeutics, neuro-supports, and psychedelics, all to improve mental health.
On Behalf of the Board of Directors
Kelsey Ramsden, President & CEO
Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: the opportunities for ibogaine to support neuroregenerative pathways that MINDCURE believes could be pivotal in treating neuropathic pain and brain trauma; MINDCURE synthesizing ibogaine to be used in the Company’s preclinical and clinical trials; Ibogaine repairing and resetting the brain’s reward system, facilitating detoxification in the context of addiction, stimulating the growth of new dopamine neurons, and supporting neurodegenerative conditions such as Parkinson’s and Alzheimer’s disease; MINDCURE’s mission to provide alternative and effective treatment options for psychological and physiological pain; MINDCURE becoming one of the first companies to manufacture synthetic ibogaine, and contributing to the drug’s uses and develop protocols that ultimately progress healing in Canada and around the world.
Forward-looking information is based on a number of key expectations and assumptions made by MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE’s business; there will be a demand for MINDCURE’s products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that the functional mushroom industry will continue to grow; ibogaine’s ability to address neuropathic pain, neuroregeneration, and brain trauama will help MINDCURE achieve its research and business goals; and MINDCURE will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what MINDCURE believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.
Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the impacts of the COVID-19 pandemic on the Canadian economy, MINDCURE’s industry and MINDCURE’s business, which may negatively impact, and may continue to negatively impact, MINDCURE and may materially adversely affect MINDCURE’s investments, results of operations, financial condition, and MINDCURE’s ability to obtain additional equity or debt financing, and satisfy its financial obligations; general economic conditions; future growth potential; competition for mental health and wellness investments; ibogaine’s ability to address neuropathic pain, neuroregeneration, and brain trauama will not help MINDCURE achieve its research and business goals; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. Additional information on the risk factors that could affect MINDCURE can be found under “Risk Factors” in MINDCURE’s final prospectus which is available on SEDAR at www.sedar.com.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to MINDCURE. The forward-looking information is stated as of the date of this news release and MINDCURE assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.
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