Novamind to Serve as Research Site for Karuna Therapeutics Late-Stage Clinical Trial

Cedar Clinical Research to Host Phase III Trial for Investigational Therapy for Schizophrenia

TORONTO, ON / ACCESSWIRE / September 13, 2021 /Novamind Inc. (CSE:NM)(OTCQB:NVMDF)(FSE:HN2) ("Novamind" or the "Company"), a leading mental health company specialized in psychedelic medicine, is pleased to announce that its wholly owned subsidiary, Cedar Clinical Research ("CCR") has been selected as a research site for a clinical trial sponsored by Karuna Therapeutics, Inc. ("Karuna"), a clinical-stage neuroscience biopharmaceutical company.

The phase III study titled, "An Open-label Study to Assess the Long-term Safety, Tolerability, and Efficacy of KarXT in Adult Patients with Schizophrenia (EMERGENT-5)" will evaluate the investigational therapy KarXT for the treatment of schizophrenia, a serious and potentially disabling condition affecting approximately 20 million people worldwide.1

"Current antipsychotic drugs fall short for too many individuals with schizophrenia, leaving them with either debilitating symptoms or serious side effects like sedation, weight gain and involuntary movements," said Dr. Reid Robison, Novamind's Chief Medical Officer and Principal Investigator at CCR. "We need more innovation in this field and I'm hopeful to see compounds like KarXT that have new ways of acting on the brain and the potential for improved efficacy and side effect profiles."

Novamind's CCR is specialized in hosting clinical trials for psychedelic medicines and other innovative therapies. CCR's research sites are co-located with Novamind's Cedar Psychiatry clinics allowing for large client population recruitment and providing clients access to innovative research stage treatments. In 2021, Cedar Psychiatry anticipates 65,000 clinic visits, a 225 per cent year-over-year increase. CCR is currently contracted for eight clinical trials, leveraging its expertise in study design, patient recruitment and patient management. CCR has an established track record working alongside leading drug development companies, non-profits and academic institutions including Merck & Co., Bionomics, the Ketamine Research Foundation and the University of Texas, Austin.

"While Novamind remains focused on psychedelic medicine, we also provide treatments and conduct innovative research across the entire mental health spectrum," said Yaron Conforti, CEO and Director. "We are dedicated to serving our clients' diverse needs and providing access to the most innovative treatments, as there is no one single solution to solve society's mental health crisis."

To learn more about the phase III EMERGENT-5 trial with CCR, please visit this link.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements

This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the Company's public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

1: GBD 2017 Disease and Injury Incidence and Prevalence Collaborators. (2018). Global, regional, and national incidence, prevalence, and years lived with disability for 354 diseases and injuries for 195 countries and territories, 1990-2017: a systematic analysis for the Global Burden of Disease Study 2017. The Lancet, 392(10159), 1789-1858. https://doi.org/10.1016/S0140-6736(18)32279-7

SOURCE: Novamind Inc.