The company's pharmaceutical grade ibogaine would provide researchers access to a sustainable, high-quality, reliable, and consistent supply of the psychedelic drug, ibogaine.
VANCOUVER, BC, July 13, 2021 /PRNewswire/ - Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) ("MINDCURE" or the "Company"), a leader in advanced proprietary technology and research for psychedelics, announces the filing of provisional patent applications with the United States Patent and Trademark Office (USPTO) for innovative processes for synthesizing ibogaine.
The Company has filed patent applications for two chemical synthesis routes, both of which successfully produced ibogaine. The identified routes may provide advantages of improved isomeric purity, increased chiral purity, and more easily isolated intermediate compounds. The ability to look at analogs along the synthesis path provides optionality for further IP development. The two chemical synthesis routes are currently being assessed to determine which one will be selected for further development first.
As announced on June 3, 2021, the Company has completed the first stage of manufacturing pharmaceutical grade ibogaine to be used in clinical research. In the coming weeks, MINDCURE will focus on the scale-up process and expects to launch stage two of the manufacturing process. During this stage, the Company will be running financial models while assessing the quality of the synthetic ibogaine when produced at scale to determine the timing of and economic viability for commercial-scale manufacturing.
Ibogaine has been traditionally sourced from the iboga plant through an extraction process, which can affect the consistency required of a psychedelic drug for research purposes. If successful, MINDCURE's fully synthetic production routes could increase access to a medicinal supply and provide the potential to manufacture as a drug, if approved.
"MINDCURE recognizes that the natural iboga plant is a precious resource" said Joel Raskin, MINDCURE's Chief Medical Officer. "Manufacturing synthetic ibogaine and patenting our process would create the opportunity for synthetic ibogaine to be used by researchers conducting clinical trials and, eventually, by clinicians providing psychedelic therapy. Our company's research team would also have access to this sustainable drug supply."
"I believe that the demand for synthetic ibogaine will increase dramatically as research in this field continues to grow. Researchers need access to a standardized, high-quality supply of ibogaine that ensures consistent dosing and reliable results," said Kelsey Ramsden, MINDCURE's President and CEO. "We look forward to working with researchers in the medical psychedelic industry, and ultimately supplying the broader market to treat all indications supported by research, with an eye to treating addiction at the forefront."
Additionally, the Company has entered into an agreement with Investor Brand Network (IBN) to provide services relating to communications and marketing for a one year term beginning July 12, 2021. The Company has agreed to pay a total of USD $20,000 per quarter for the services to be provided during the term.
About Mind Cure Health Inc.
MINDCURE is a life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health. The company is developing digital therapeutics technology and researching psychedelic compounds to support access to safe, evidence-based psychedelic-assisted therapies globally. Learn more at mindcure.com, and follow us on Facebook, Twitter, and Instagram.
Forward-Looking Information
Certain information presented in this news release may constitute "forward-looking information" within the meaning of applicable securities laws regarding MINDCURE and its business. Forward-looking information inherently entails known and unknown risks and uncertainties about the future and actual results, performance or achievements contemplated by forward-looking statements made may be materially different from the results anticipated or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "feel", "intend", "may", "plan", "predict", "project", "subject to", "will", "would", and similar terms and phrases.
Forward-looking information is based on a number of key expectations and assumptions made by management of MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE's business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE's business; there will be a demand for MINDCURE's products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that the functional mushroom industry will continue to grow; that iSTRYM will be developed, optimized and operate as contemplated within the psychedelics industry; or that the Company will be effective in obtaining the patents applied for synthesizing ibogaine, or synthesizing ibogaine, or developing synthesized ibogaine for research, medical or commercial use.
Although MINDCURE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking information presented, there may be other factors that cause results, performance or achievements to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements as no forward-looking information can be guaranteed.
Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and MINDCURE does not undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.
The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.
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SOURCE Mind Cure Health Inc.
