NeonMind Completes Design of Preclinical Psilocybin Psychedelic Mushroom Study
May 14th, 2020
Vancouver, British Columbia–(Newsfile Corp. – May 14, 2020) – The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) announces its majority owned subsidiary NeonMind has completed the design of a preclinical study to confirm that psilocybin (found in psychedelic mushrooms) is an effective treatment for weight loss and food craving. NeonMind engaged Translational Life Sciences Inc. (“TLS”), a contract research organization, to design the study. 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.
NeonMind Completes Design of Preclinical Psilocybin Psychedelic Mushroom Study
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The goal of the study is to use preclinical models to confirm that psilocybin is an effective treatment for weight loss and food craving. NeonMind will use models that have been widely adopted by the pharmaceutical industry to identify compounds with therapeutic efficacy. It plans to use results from this study as part of the requirements for a Health Canada clinical trial application to demonstrate potential efficacy and safety for novel compounds.
Obesity has been formally recognized by the World Health Organization (the “WHO”) as a global epidemic, with at least 2.8 million people dying each year as a result of being overweight or obese. According to the WHO, in 2016, more than 1.9 billion adults, 18 years and older, were overweight. Of these over 650 million were obese. Overweight and obesity is defined as abnormal or excessive fat accumulation that presents a risk to health.
According to the WHO, in its Global Strategy on Diet, Physical Activity and Health, a unique opportunity exists to formulate and implement an effective strategy for substantially reducing deaths and disease worldwide by improving diet and promoting physical activity. The global projected market for weight loss and weight management is estimated at US$245 billion, according to marketsandmarkets.
NeonMind plans to complete the study in Canada in accordance with all Health Canada rules and regulations. Required permits and exemptions have not been yet applied for, but shall be obtained prior to the study taking place.
About NeonMind Biosciences Inc.
NeonMind is dedicated to the enhancement of human life and wellness through the advancement of bioscience to engage the mind to heal the body. It aims to be a leader in the fast-growing functional and adaptogenic foods market, and is engaged in research and the development of products and services using medicinal and psychedelic mushrooms to heal the body through the mind. NeonMind has filed a U.S. provisional patent application to protect the invention that the administration of psilocin and/or psilocybin results in overall weight loss in individuals by reducing food cravings, counteracting compulsive overeating, improving quality of diet, increasing metabolism, treating diabetes, regulating blood glucose and reducing susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus and other illnesses associated with obesity. NeonMind owns 18% of Translational Life Sciences Inc. Yield Growth owns approximately 69% of the issued and outstanding stock of NeonMind.
About The Yield Growth Corp.
The Yield Growth Corp. 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. Its products are sold through e-commerce worldwide and retail stores in 3 countries with distribution agreements in place for 12 more countries. It has 14 patent applications filed in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. 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.
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