MYND Diagnostics will be initiating a clinical validation study on the use of its proprietary biomarker testing in Multiple Sclerosis diagnostics
VANCOUVER, BC, Nov. 18, 2021 /PRNewswire/ - MYND LIFE SCIENCES INC. ("MYND" or the "Company") (CSE: MYND) (OTC: MYNDF) is pleased to announce its wholly-owned subsidiary MYND DIAGNOSTICS INC. ("MYND Diagnostics") has commenced clinical research on a testing procedure as an aid for diagnosing and monitoring Multiple Sclerosis ("MS") utilizing the Company's proprietary anti-inflammatory peptide ("MAP") biomarker.
"According to the National Multiple Sclerosis Society, at this time no symptoms, physical findings or laboratory tests can, by themselves, determine if you have MS1", stated Dr. Lyle Oberg, MD CEO of MYND. "This makes MS such a challenging disease to diagnose; the wide variance of symptoms can make early detection difficult. It is our goal through MYND Diagnostics' clinical validation study targeting MS to provide health care practitioners with an objective diagnostic aid to help discover MS earlier and monitor treatment progress or regression."
MYND Diagnostics will be initiating a clinical validation of the MAP biomarker in MS by collecting known blood samples of MS patients and quantifying the presence of MAP against control samples. This validation is planned to start in first quarter 2022. The Company anticipates that, pending those results, a submission for FDA approval could take place as early as second half 2022 to prepare for commercialization and making the MAP Biomarker test available to the public through healthcare practitioners. The Company's goal is to develop and refine a diagnostic protocol to monitor and potentially identify inflammatory diseases of the central nervous system such as Multiple Sclerosis. The Company's aid to diagnosis test is intended to give health care providers an objective monitoring tool to improve patient outcomes by providing more tailored and efficacious treatments.
The global multiple sclerosis therapies market was valued at $22.99 billion in 2018, and is projected to reach $28.00 billion by 2026, registering a CAGR of 2.5% from 2019 to 2026.2 Management's view is that the total addressable market is substantial and existing diagnostic methods are outdated and ready for disruption. Management believes this affordable tool coupled with MYND Diagnostics' proprietary intellectual property has the potential to revolutionize how central nervous system diseases are diagnosed and monitored around the globe.
MS currently affects approximately 2,800,000 people around the world, females far more often than males, and it is estimated that every 5 minutes, someone in the world is diagnosed with MS. Nearly 1,000,000 of those people are living in the United States3. Canada continues to have one of the highest rates of MS in the world, with over 90,000 people living with MS or 1 in every 400 people4.
ABOUT MYND LIFE SCIENCES INC.
MYND Life Sciences Inc., the parent company of MYND Diagnostics Inc., is a medical biotech drug research and development company focused on neuro-pharmaceutical and novel psilocybin drug development, diagnostics and vaccines. The Company is advancing pharmaceuticals through rigorous science and clinical trials, while diligently patenting and safeguarding its intellectual property. For more information and to subscribe to the Company's mailing list, please visit https://myndsciences.com/contact/.
CONTACT INFORMATION
MYND Life Sciences Inc.
Dr. Lyle Oberg, MD, CEO
Email: ir@myndsciences.com
Web: www.myndsciences.com
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SOURCE Mynd Life Sciences Inc.
