NeonMind and SRx Health Solutions Announce Strategic Alliance to Establish Specialty Mental Health Clinics for Interventional Psychiatry Treatments
NeonMind and SRx Health Solutions Announce Strategic Alliance to Establish
Specialty Mental Health Clinics for Interventional Psychiatry Treatments
Vancouver, B.C. – November 8, 2021: NeonMind Biosciences Inc. ( CSE: NEON) (OTCQB: NMDBF) (FRA:
6UF) (“NeonMind'' or the “Company ”), an integrated drug development and wellness company, today
announced a strategic alliance with SRx Health Solutions (“SRx”), a leading Canadian specialty healthcare
services and medical treatment provider, to establish and operate a network of NeonMind -branded
specialty clinics to deliver evidence -backed innovative treatments for a variety of mental health needs.
NeonMind will leverage SRx’s nationwide network of over 70 clinics, as well as its operational capabilities,
to bring Neo nMind’s unique treatment protocols to underserved populations in Canada. The Company
expects to select and announce its first clinic location within the SRx network by the end of this calendar
year, with a launch in 2022.
Over the past 11 years, SRx has been a trusted service provider in the delivery of specialty patient
healthcare across Canada. Under the terms of the agreement, NeonMind and SRx will collaborate to
prioritize specialty mental health clinic locations within SRx’s countrywide network of clinics. The alliance
enables NeonMind to focus on programmatic design and delivery. Available treatment options will include
psychedelic modalities and other newer treatments for mental health. Following the first clinic opening,
the Company expects to lau nch additional clinic locations throughout the course of 2022, continuing to
expand locations and services in 2023 and beyond.
“We are proud to partner with SRx as we build out our specialty clinics division,” said Robert Tessarolo,
President & CEO of NeonMind. “Establishing these specialty clinics is part of our multi -pronged strategy
to bring the therapeutic benefits of psychedelics to patients in need, whether through our specialty clinics
for the treatment of neuropsychiatric disorders or with NeonMind’s novel obesity treatments currently in
development. SRx’s extensive clinic infrastructure and best -in-class operations will allow us to quickly
build out our specialty clinics in a capital-sparring manner to offer patients these innovative treatments
in a traditional clinical setting.”
Commenting on the alliance, Mr. Brock Clancy, SRx Vice President of Patient Services and Operations, said,
“Recognizing a crucial need for increased support and innovation in mental health treatments, our team
has been ac tively assessing the rapid growth of the market and determining how best to enter this
treatment segment. NeonMind’s strategy in this area is unique and compelling, with their initial focus on
utilizing already established treatments such as ketamine, esketamine and neurostimulation, while adding
additional treatment modalities as they are approved, including psychedelics. Bringing in a partner like
NeonMind aligns with our own experiences on how best to deliver specialty treatments while leveraging
our existing capabilities and infrastructure. I am excited by this opportunity to work collaboratively with
NeonMind to build out and evolve the treatment infrastructure available for interventional psychiatry and
psychedelics.”
About SRx Health Solutions Inc.
SRx Health Solutions is Canada’s leading collaborative network of pharmacists and healthcare
practitioners delivering innovative, sustainable, and integrated healthcare solutions with the goal of
enhancing the wellness of Canadians and supporting those living with chronic illnesses. SRx proudly
employs over 400 associates across Canada. SRx have partnerships at 125+ clinic locations made up of,
including over 250 nurses who are committed to providing exceptional care to patients coast to coast.
SRx is on a mission to revolutionize healthcare and ensure that all Canadians have access to equal,
modern health services.
About NeonMind Biosciences Inc.
NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of
psychedelic c ompounds 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 ph armaceutical 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 candidate, 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.
For more information on SRx Health Solutions, go to www.SRxHealth.ca.
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
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.