NeonMind Unveils Initial Treatment Offering at Specialty Mental Health Clinic in Mississauga
NeonMind Unveils Initial Treatment Offering at Specialty Mental Health Clinic in Mississauga
To Deliver Low Dose Intravenous Ketamine for Mood and Anxiety Disorders, a RecommendedTreatment by Canadian Guidelines, Upon Clinic Licensing
Oakville, Ont. – March 23, 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 is setting up to offer low dose intravenous ketamine therapy for mood andanxiety disorders (IV-Ket) as an initial treatment at its recently announced, inaugural specialty mentalhealth clinic location in Mississauga, Ontario, pending clinic licensing.
NeonMind’s Mississauga clinic represents its initiative to establish and operate a network ofNeonMind-branded specialty clinics. These clinics will deliver in demand mental health treatments tounderserved areas throughout Canada. Specialty services to be offered will incorporate innovative,evidence-based interventional psychiatric treatments for a variety of mental health disorders.
Rob Tessarolo, President & CEO of NeonMind, commented, “This represents the latest step in our plan tobecome a specialty mental health clinics operator. We are building a clinic infrastructure that supportspsychiatric treatment using innovative medicines such as ketamine, as well as other emerging therapieswith strong evidence of efficacy and safety, in an effort to provide long-lasting solutions to a growingpopulation of patients suffering from mental health. Following our recent clinic opening announcements,we are working quickly to stand these facilities up, with our Mississauga location in the final process forequipment setup and licensing.”
NeonMind’s Site Medical Director for its Mississauga specialty clinic location, Dr. Bhayana, has low doseIV-Ket treatment for mood and anxiety disorders as part of his scope of practice and will be overseeingthe clinic with three private infusion rooms and operational capabilities that can support high volumes ofIV-Ket treatments. There is now strong clinical evidence that IV-Ket is an efficacious and safe treatmentfor mood and anxiety disorders which has led to its inclusion as a treatment option in Canadianguidelines. Additional psychedelic-based therapies have a growing body of evidence on their efficacy intreating mental health disorders and NeonMind will look to incorporate these novel therapies as theyare authorized. The Mississauga clinic is expected to begin treatment services in the second half of 2022.
NeonMind's inaugural specialty mental health clinic is located at 89 Queensway West, Suite 604,Mississauga, Ontario, L5B 2V2. For more information related to NeonMind's specialty clinics, pleaseemail [email protected].
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 Regan
[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.