NeonMind Advances Strategy for Specialty Clinic Launch
NeonMind Advances Strategy for Specialty Clinic Launch
Company expects to launch first specialty clinic locations by early 2022
NeonMind-branded specialty mental health clinics to bring innovative interventional psychiatry
treatments to underserved populations in Canada
Vancouver, B.C. – September 28, 2021: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA:
6UF) (“NeonMind'' or the “Company ”), an integrated drug development and wellness company, today
provided an update on the Company’s medical services division, including its specialty clinics initiative to
establish a national network of clinics offering interventional psychiatry treatments. The Company
recently established a best -in-class Specialty Clinics Advisory Board to ove rsee the advancement of its
medical services division and is currently in advanced negotiations with potential partners to launch
locations in early 2022.
Specialty Mental Health Clinics Update
To continue its commitment in providing access to psych edelic-based treatments for mental health
disorders, NeonMind is working to establish NeonMind -branded specialty mental health clinics. The
Company is in ongoing discussions with a number of key opinion leaders and potential strategic partners,
all of which are progressing successfully and are currently in late-stage assessments.
Based on the progress to-date, NeonMind expects its first clinic to go live by early 2022. Following the first
clinic opening, the Company anticipates the launch of additional clinic locations throughout the course of
2022, continuing to expand locations and services in 2023 and beyond.
“We continue to be encouraged by the clinical promise and market potential for interventional
psychiatry,” said Rob Tessarolo, President and CEO of NeonMind. “There is unprecedented demand for
these innovative treatments and we have an opportunity to be th e first major player in this space. We
continue to have late stage discussions as we evaluate a series of potential opportunities and
partnerships, which we believe will be transformational for NeonMind and the patients we aim to serve.”
Mr. Tessarolo added, “Our discussions are focused on operational partners with a proven track record of
success in the medical treatment space to operate our national clinic network in a capital efficient manner.
We are encouraged by the reception we have received and loo k forward to providing further updates as
these discussions continue to advance.”
Strategic Opportunity in Interventional Psychiatry - Addressing a Major Medical Market
Mental health disorders have reached a crisis level, which has been compounded by the effects of the
COVID-19 pandemic, in particular, depression and anxiety disorders. The economic burden is massive
with an estimated cost of $51 billion annually to Canadians 1. Traditional treatments such as
pharmacotherapy and psychotherapy have varying degrees of effectiveness, but for the most part leave
the crisis largely unaddressed.
A new and promising field of interventional psychiatry including ketamine/esketamine, neurostimulation,
and psychedelic treatment modalities are showing unprecedented c linical efficacy. This new modality is
establishing itself as a game changing and staple armamentarium for patients and clinicians. Despite this,
broader access to these treatments remains extremely limited in Canada due to a lack of infrastructure
and awareness.
Importantly, these treatments require specialized clinic models and treatment teams which is the focus
of NeonMind’s medical services division: to establish NeonMind-branded, best-in-class, national specialty
clinics network providing interventional psychiatry treatments tailored for local communities’ healthcare
needs.
Strategically, NeonMind’s near-term focus is to scale its services to address the large demand for clinician-
validated treatments including ketamine/esketamine and neurostimulation. With impending regulatory
approvals for psychedelic modalities including MDMA for anxiety disorders, psilocybin for depression
disorders and NeonMind’s proprietary psychedelic treatment for weight management, NeonMind’s clinics
will also adopt these treatments and serve as future access points to psychedelic modalities, providing
important strategic exposure to the psychedelics market.
World-Class Specialty Clinics Advisory Board to Guide Build-Out of National Clinic Network
To support a best-in- class integrated services platform and comprehensive set of programs, NeonMind
has successfully built an industry-leading advisory board of top-rated clinicians, including Dr. Sagar Parikh,
MD, Dr. Roumen Milev, MD/PhD, and Dr. Gustavo Vazqu ez, MD/PhD. These board members bring
practical and scientific accolades in depression and anxiety disorders and interventional psychiatry which
will help further our mission.
All three advisors are highly renowned and considered to be at the forefront of this transformational field
with academic influence and significant involvement in national societies and initiatives such as the
Canadian Network for Mood and Anxiety Treatments (CANMAT) and the Canadian Biomarker Integration
Network for Depression (CAN -BIND). Moreover, they offer vast clinical and research experience from
Canada, US and Latin America with hands-on success in setting up and managing interventional psychiatry
practices that integrate psychedelics such as ketamine and esketamine. Combined, they have effectively
provided thousands of interventional psychiatry treatments to patients.
1 Overall Economic Burden of Mental Health, www.camh.ca/en/driving-change/the-crisis-is-real/mental-health-statistics
About NeonMind Biosciences Inc.
NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of
psychedelic compounds with two lead psilocybin -based drug candidates targeting obesity; and (ii) a
medical services division focused on launching specialty mental health clinics that integrate psychedelic
therapeutics into traditional psychotherapy settings.
In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs
targeting obesity. NeonMind’s lead candidate, NEO-001, employs psilocybin as an agonist at the serotonin
5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company’s second
drug candid ate, NEO -002, employs low-dose psilocybin as an agonist at the 5 -HT2C receptor, which
controls appetite.
NeonMind established a medical services division with the goal of launching NeonMind-branded
specialty mental health clinics in Canada that incorporate evidence-backed innovative treatments to
address a variety of mental health needs. For more information on NeonMind, go to
www.NeonMindBiosciences.com
Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.
Tel: 416-750-3101
Investor Relations:
KCSA Strategic Communications
Scott Eckstein/Tim Regan
Tel: 212-896-1210
Media Inquiries:
KCSA Strategic Communications
Annie Graf
Tel: 786-390-2644
The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news
release.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These
statements relate to future events or NeonMind’s future performance. The use of any of the words "could",
"expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to
matters that are not historical facts are intended to identify forward-looking information and are based
on NeonMind’s current belief or assumptions as to the outcome and timing of such future events. Act ual
future results may differ materially. In particular, NeonMind’s drug development plans, its ability to retain
key personnel, and its expectation as to the development of its intellectual property and other steps in its
preclinical and clinical drug dev elopment constitute forward-looking information. Actual results and
developments may differ materially from those contemplated by forward -looking information. Readers
are cautioned not to place undue reliance on forward-looking information. The statements made in this
press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly
update or revise any forward-looking information, whether as a result of new information, future events
or otherwise, except as may be expressly required by applicable securities laws.