NeonMind Files New Provisional Patent Application Covering Novel Mechanism of Weight Loss
NeonMind Files New Provisional Patent Application Covering Novel Mechanism of WeightLoss
Oakville, Ont. – March 22, 2022: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA: 6UF)(“NeonMind'' or the “Company”), an integrated drug development and wellness company focused onbringing innovative psychedelic-based treatments to people suffering from obesity and mental healthdisorders, announced today it has filed a new patent application with the United States Patent andTrademark Office related to a novel mechanism of weight loss targeted to specific fat subtypes.
The provisional patent application includes data derived from NeonMind’s recent preclinical animalstudy, incorporating novel findings which indicate, in addition to reiterating weight modulation effects ofpsilocybin seen in previous studies, that the targeted reduction of specific fat subtypes may havebeneficial effects on metabolic and cardiovascular health. The filing strengthens NeonMind’s growing IP
portfolio and differentiates the commercial profiles of its drug candidates. The Company plans to releasefurther details of the study’s findings.
If granted, the patent could support NeonMind’s pharmaceutical assets until at least 2042. NeonMind’slead candidate, NEO-001, aims to produce neuropharmacological changes induced by psilocybin, inconjunction with psychotherapy, to achieve durable weight loss for patients suffering from obesity.NeonMind’s additional drug candidate, NEO-002, employs low-dose psilocybin to control appetite.
“We are excited by the unique findings from our preclinical studies, which have demonstrated durabletherapeutic benefits for weight management in the animal model. Importantly, our novel findingsprovide an opportunity for us to develop drugs with highly differentiated target product profiles andbroad commercial opportunities,” said Robert Tessarolo, President & CEO of NeonMind. “With theadvancement of our research programs and continued expansion of our IP portfolio, NeonMind ispositioning itself as a leading innovator in the development of novel psychedelic treatments focused onserving the weight management and obesity market, which has historically been underserved and wherea new, effective approach is desperately needed to help people live fuller, healthier lives.”
About NeonMind Biosciences Inc.
NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development ofpsychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) amedical services division focused on launching specialty mental health clinics that integrate psychedelictherapeutics into traditional psychotherapy settings.
In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programstargeting obesity. NeonMind's lead candidate, NEO-001, employs psilocybin as an agonist at theserotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company'ssecond drug candidate, NEO-002, employs low-dose psilocybin as an agonist at the 5-HT2C receptor,which controls appetite.
NeonMind and its strategic partners are building NeonMind-branded specialty mental health clinics inCanada that incorporate evidence-backed innovative treatments to address a variety of mental healthneeds. For more information on NeonMind, go to www.NeonMindBiosciences.com.
Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences [email protected]: 416-750-3101
Investor Relations:KCSA Strategic CommunicationsScott Eckstein/Tim [email protected]: 212-896-1210
The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this newsrelease.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. Thesestatements 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 statementsrelating to matters that are not historical facts are intended to identify forward-looking information andare based on NeonMind's current belief or assumptions as to the outcome and timing of such futureevents. Actual future results may differ materially. In particular, NeonMind's drug development plans, itsability to retain key personnel, and its expectation as to the development of its intellectual property andother steps in its preclinical and clinical drug development constitute forward-looking information. Actualresults and developments may differ materially from those contemplated by forward-lookinginformation. Readers are cautioned not to place undue reliance on forward-looking information. Thestatements made in this press release are made as of the date hereof. NeonMind disclaims any intentionor obligation to publicly update or revise any forward-looking information, whether as a result of newinformation, future events or otherwise, except as may be expressly required by applicable securitieslaws.