Novamind to Conduct Phase II Trial of Psilocybin for Major Depressive Disorder

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First patient randomization completed at Draper, Utah research site

TORONTO, ON/ACCESSWIRE/March 9, 2022/ Novamind Inc. (CSE:NM)(OTCQB:NVMDF)(FSE:HN2) (“Novamind” or the “Company”), a leading mental health company specializing in psychedelic medicine, is pleased to conduct a clinical trial of phase II of psilocybin for major depression disorder (MDD) sponsored by the Usona Institute (the “psilocybin trial”). Today, the company completed the first patient randomization at its research site in Draper, Utah.

Dr. Paul Thielking, Chief Scientific Officer of Novamind, said: “The psilocybin trial is a key step in advancing psilocybin through the clinical development process and closer to regulatory approval. Today marks another exciting milestone for our team as we continue to support drug developers, nonprofits, and academic partners to accelerate psychedelic research and improve patient outcomes.

With approximately 280 million people worldwide suffering from depression,1 Psilocybin is increasingly being recognized as a potential therapy to help address a growing global mental health crisis. Recent regulatory changes supporting psilocybin research also recognize the unmet need and potential for new and improved treatment options. Last year, Novamind obtained two Schedule 1 licenses from the United States Drug Enforcement Agency to store and administer psilocybin for research purposes, qualifying the company to host future psilocybin clinical trials on its Site (s.

Dr. Thielking continued: “The contract research division of Novamind is dedicated to the responsible management of all stages of clinical trials in neuropsychiatry. With specialized infrastructure and expertise in psychedelic medicine, we are uniquely positioned to bring the highest research standards to the evaluation of psilocybin as a treatment for depression.

Dr Reid Robison, chief medical officer and principal investigator of the psilocybin trial at the Novamind research site, added: “While previous small-scale studies have provided encouraging evidence for the use of psilocybin for depression, Phase II trials will help us better assess the safety and efficacy of the drug. This work is truly groundbreaking, and we are incredibly honored to contribute and advance the fields of psychedelic medicine and psychiatry.

To learn more about the psilocybin trial, 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 offers ketamine-assisted psychotherapy and other innovative treatments through its network of integrative mental health clinics and operates a full-service contract research organization specializing in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind improves mental well-being and guides people through their healing journey, visit novamind.ca.

Contact information
Yaron Conforti, CEO and Administrator
Telephone: +1 (647) 953 9512

Samantha DeLenardo, Vice President, Communications
E-mail: [email protected]

Investor Relations
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Forward-looking statements
This press release contains forward-looking statements. All statements other than statements of historical facts 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 information. Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company will publicly update or revise any of the forward-looking statements included as expressly required by applicable law.

1. https://www.who.int/news-room/fact-sheets/detail/depression

THE SOURCE: Novamind Inc.

See the source version on accesswire.com:
https://www.accesswire.com/692070/Novamind-to-Conduct-Phase-II-Psilocybin-Trial-for-Major-Depressive-Disorder

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