Announcement • Dec 15
Lancaster Lithium Inc. signed a binding letter agreement to acquire NeonMind Biosciences Inc. (CNSX:NEON) for CAD 0.19 million in a reverse merger transaction. Lancaster Lithium Inc. signed a binding letter agreement to acquire NeonMind Biosciences Inc. (CNSX:NEON) for CAD 0.19 million in a reverse merger transaction on December 14, 2022. At the closing of the Transaction, NeonMind will acquire 100% of the outstanding securities in Lancaster Lithium in exchange for the issuance of post-Consolidation NeonMind shares on a 1:1 basis. Prior to the closing of the Transaction, NeonMind is obligated to complete the consolidation of shares at the ratio of one new share for every thirty existing shares. The completion of the Transaction is subject to the satisfaction of various conditions that are customary for a transaction of this nature, including but not limited to; the completion of the Consolidation; NeonMind and Lancaster Lithium obtaining all required director and shareholder approvals; and the receipt of all requisite regulatory, stock exchange or governmental authorizations and consents, including the authorization and consent of the CSE. Closing of the Transaction to occur no later than March 4, 2022. Board Change • Nov 16
No independent directors There are 8 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Co-Founder, CEO & Director Penny White is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Apr 27
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 1 experienced director. No highly experienced directors. Co-Founder & Executive Chairperson Penny White is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 20
NeonMind Biosciences Inc Engages Digital Platform for Medical Education and Adoption of Ketamine Treatments in Preparation of Opening Its Inaugural Specialty Mental Health Clinic NeonMind Biosciences Inc. announced it has advanced its strategy to enhance access to treatments at its specialty mental health clinics with Impetus Digital in preparation of opening its inaugural clinic located in Mississauga, Ontario. Intravenous ketamine for mood and anxiety disorders (IV-Ket) was recently included in the Canadian guidelines as a recommended treatment. As a testament to the value of IV-Ket treatments, a growing number of prescribers and their patients are seeking access to this treatment with further opportunities to expand the prescriber base through medical education. NeonMind will be working with Impetus Digital's InSite Platform®, a trusted platform for virtual medical education to enhance adoption of IV-Ket treatments. This platform will enable to establish prescriber confidence to include IV-Ket in their treatment toolset and how to refer patients to NeonMind clinics. Impetus Digital has been integral in successful pharmaceutical and healthcare treatment launches in Canada. Announcement • Apr 09
NeonMind Biosciences Inc. announced that it has received CAD 0.285 million in funding On April 8, 2022, NeonMind Biosciences Inc. closed the transaction. The company has received gross proceeds of CAD 285,000 in the transaction. The company also issued 3,743,000 warrants to purchase common shares of the company. The company has paid CAD 14,000 cash commission and granted 133,000 warrants to Echelon Wealth Partners Inc. Announcement • Feb 24
NeonMind Biosciences Inc. Appoints Dinesh Bhayana as Site Medical Director of Its Inaugural Specialty Mental Health Clinic NeonMind Biosciences Inc. announced the appointment of Dr. Dinesh Bhayana, MD, CCFP (EM), as the Site Medical Director of its recently announced inaugural specialty clinic for interventional psychiatry, located in Mississauga, Ontario. Dr. Bhayana is the Chief Medical Officer of the Centre for Compassionate Care (C3), which offers specialized psychological services including Integrative Ketamine-Enhanced Psychotherapy, served as a Board Member for the Multidisciplinary Association for Psychedelic Studies (MAPS) Canada, and an Emergency and Addiction Medicine physician in several communities within the Greater Toronto Area. NeonMind and Dr. Bhayana will work closely with medical leaders in NeonMind's Specialty Clinics Advisory Board to set up the Company's inaugural NeonMind specialty mental health clinic in Mississauga and leverage their clinical experience to meet regulatory licensing requirements and initiate treatment services this year. Announcement • Feb 18
NeonMind Biosciences Inc. Announces the Resignation of Amber Allen as Vice President of Sales NeonMind Biosciences Inc. announced the resignation of Amber Allen as Vice President of Sales effective January 17, 2022, which was in connection with the divestiture of the NeonMind consumer division assets. Announcement • Nov 24
NeonMind Biosciences Inc. Announces Successful Completion of Pre-IND Consultation with FDA on Clinical Path for Obesity Drug Candidate NEO-001 NeonMind Biosciences Inc. announced it successfully completed a pre-Investigational New Drug (IND) consultation with the U.S. Food and Drug Administration (FDA), regarding proposed clinical trials for NeonMind's lead obesity drug candidate, NEO-001. The Company expects to initiate a Phase 1/2 clinical study in the first half of 2022. The pre-IND consultation offered feedback for NeonMind to execute on measurable clinical development milestones for its NEO-001 clinical program. The FDA acknowledged the study rationale and potential therapeutic opportunity of NEO-001 for the treatment of obesity, and the justification to advance into human clinical trials. NeonMind will incorporate the FDA's recommendations and does not expect any impact on the timing of the proposed NEO-001 clinical program. NeonMind's proprietary therapy will be the first psychedelic program in humans to target a large population of patients struggling with sustainable weight management. NEO-001, the Company' lead drug candidate targeting obesity, is a high-dose psilocybin treatment coupled with behavioral therapy and lifestyle intervention, which aims to improve the efficacy of chronic weight management in adults. The Company has identified a regulatory strategy, including a target indication and product profile, which it believes will best position NeonMind as it advances its first lead candidate through development. Announcement • Jul 01
Neonmind Biosciences Inc. Launches Its Neonmind Branded Functional Mushroom Coffee Products as Dietary Supplements in the United States NeonMind Biosciences Inc. announce that it is launched its NeonMind branded functional mushroom coffee products as dietary supplements in the United States. The initial launch includes two ground coffee SKUs that are available for delivery anywhere within the US. Two instant coffee SKUs are anticipated to be added within a month. Products can be purchased individually and can be ordered as a subscription to receive a 10% discount The website was built to be mobile friendly and focus on a customer- first strategy. Consumers can sign up to NeonMind's newsletter to receive the latest news, product releases and recipe information. Each of the functional mushroom blends and botanicals selected in NeonMind coffees include adaptogens, which means that they work with one's body to help manage physical, mental and emotional stressors. Functional mushroom specifically refers to mushroom varieties that have a health benefit beyond providing nutrition. Functional mushrooms found in NeonMind coffees, such as cordyceps, lion's mane, reishi, and turkey tail; offer long-term physical, neurological and immunological benefits. The initial product launch will feature two varieties of ground coffee. The Protect Blend is a Peruvian Medium Roast French Vanilla Coffee, Turkey Tail, Cordyceps, Moringa extract, and Amla extract. These ingredients have the proven benefit of stress relief, immune support, and cognitive support. The Focus Blend is a Peruvian Dark Roast Coffee with Lion's Mane extract, Reishi extract, Gotu Kola extract, and Brahmi extract. These ingredients are a healthy source of fungal polysaccharides with immuno- modulating properties that help improve memory and cognitive function, increase alertness, support the immune system and fight mental and physical stress. The Company will soon launch its two instant coffee blends in the US as dietary supplements. The NeonMind coffee dietary supplements follow all FDA regulations that focus on Comprehensive GMP (Good Manufacturing Practices) to ensure the identity, purity, quality, strength and composition of dietary supplements. NeonMind only uses certified organic mushroom extracts which go through the decoction process (traditional water boiling) to maximize the bioavailability of the product. NeonMindfollows strict US pharmacopeia guidelines for lead and other chemicals required by Proposition 65 for safe and daily intake. All final production batches are sent to a third party lab for stringent microbial testing in order for the copacker to release the product certificate of analysis which signifies that the product is safe for the consumer market. Announcement • Mar 20
NeonMind Biosciences Inc., Annual General Meeting, May 27, 2021 NeonMind Biosciences Inc., Annual General Meeting, May 27, 2021. Location: Suite 800, 365 Bay Street Toronto Ontario Canada Announcement • Mar 04
NeonMind Biosciences Inc. Files Four Additional Provisional Patents on Psilocybin Preclinical Data NeonMind Biosciences Inc. announced that it has filed four new provisional patent applications with the United States Patent and Trademark Office to protect initial data obtained during NeonMind's preclinical trial. The provisional patent applications include data derived from NeonMind's initial preclinical trial that began in November 2020, which examined the potential use of psilocybin as a treatment for weight loss. NeonMind's proprietary preclinical data shows promise that both low and high dose psilocybin may reduce weight gain and that the reduction in weight gain can occur in a short period of time. This patent has also been included to support NeonMind's first filed U.S. provisional patent which has a priority date of December 4, 2019, and has been converted to a Patent Cooperation Treaty ("PCT") application. By filing one international patent application under the PCT, applicants can simultaneously seek protection for an invention in 152 countries. NeonMind's patent portfolio has potential rights in 152 countries including the United States. It has filed 10 US provisional patent applications, of which 2 have been converted to PCT applications. The anticipated patent protection expiry of these pending patents is 2041. NeonMind anticipates that its near term activities will support additional applications filed later this year. Compounds now covered by NeonMind's pending patents include: Psilocin, Psilocybin, 4-SH-dimethyltryptamine, 1-methylpsilocin, 4-fluoro-N,N-dimethyltryptamine, O-acetylpsilocin, 4-hydroxy-N-methyl-N-isopropyltryptamine, 4-hydroxy-N-methyl-N-ethyltryptamine, LSD, LSA, DMT. Treatments that are covered by NeonMind's pending patents include: Aiding Weight Loss, Obesity, Compulsive Eating Disorder, Diet Alteration, Reduction of Food Cravings, Decreasing Food Intake, Complications Associated with Obesity. NeonMind owns 100% of all of Its intellectual property except for patents surrounding LSD, LSA and DMT, of which it owns 80%. Translational Life Sciences Inc. a research collaborator, owns the remaining 20%. Announcement • Feb 26
NeonMind Biosciences Inc. Purchases GMP Grade Synthetic Psilocybin from Psygen Labs Inc. for Phase 2 Human Clinical Trial NeonMind Biosciences Inc. announced that it has purchased an initial order of GMP grade psilocybin from Psygen Labs Inc. for its planned phase 2 human clinical trial expected to begin in Canada later this year. The purchase is made pursuant to a restricted substance supply agreement between Psygen and NeonMind entered into on September 28, 2020. Last year NeonMind received supply under the agreement of non-GMP synthetic psilocybin for its preclinical trial which commenced last November. Now, with promising initial results from its preclinical trial, NeonMind has purchased the GMP grade synthetic psilocybin so it can move forward with an application to Health Canada for a phase 2 human clinical trial. The GMP grade synthetic psilocybin was manufactured through Psygen's collaboration with Applied Pharmaceutical Innovation ("API") and a licensed dealer at the University of Alberta. All the future material will be manufactured at Psygen's soon-to-be completed commercial facility in Calgary. NeonMind may not accept delivery of the psilocybin until it has received authorization from Health Canada. NeonMind filed a provisional patent application in the US, later converted to a patent application, for therapeutic administration of psilocybin alone or in combination with psychotherapy. The patent focuses on psilocybin's potential health benefits for aiding weight loss, diet alterations, reducing food cravings, decreasing food intake, and related health complications. NeonMind plans to study the use of psilocybin alone and in combination with psychotherapy as a treatment for obesity. Announcement • Feb 11
NeonMind Biosciences Inc. Submits Applications to Health Canada for Product Formulas to Support Cognitive and Immune Function and to Fight Stress NeonMind Biosciences Inc. ("NeonMind"), announced that through its consumer products division, it submitted on February 2, 2021 four applications to Health Canada's Natural and Non-prescription Health Products Directorate (NNHPD), to obtain product licenses for its products with 100% plant-based extracts, and make their related health claims. The formulas primarily consist of combinations of medicinal mushrooms: Lion's Mane, Reishi, Turkey Tail and Cordyceps. Certain herbs traditionally used in Ayurveda were also included in the formulas. The NeonMind proprietary formulas were created by an expert of Ayurvedic medicine. If the claim applications are deemed acceptable through Health Canada's regulatory review process, then NeonMind will be able to launch natural health products in Canada containing the herbal and fungi formulations described in the NHP applications. Under the natural health product number ("NPN") assigned by Health Canada, NeonMind will be allowed to market these products in different capacities as long as they contain the same makeup and quantities of herbs that are authorized for sale by Health Canada. Health claims submitted as part of the NHP applications by NeonMind include claims that one or more of the formulas can help support memory and cognitive function, support the body's immune response, be used as an adaptogen to help increase energy and resistance to stress (in the case of mental and physical fatigue related to stress), relieve pain and inflammation, and the claim of traditional use in Ayurveda to relieve general debility (especially during convalescence or old age). All natural health products need to obtain a product licence with detailed information about the medicinal ingredients, source, dose, potency, non medicinal ingredients, recommended use, and appropriate risk mitigation statements to be sold in Canada. Once the product is assessed to be safe, effective and of high quality Health Canada issues a product licence an NPN number, allowing it to make health claims. eonMind's consumer products division currently has four mushroom infused coffees that do not contain any psychoactive or restricted substances for sale in Canada through NeonMind's direct-to-consumer ecommerce
platform at neonmind.com. NeonMind has plans to launch additional products in Canada as natural health products if Health Canada approves its recent applications. NeonMind's consumer division operates in the rapidly growing functional food market. NeonMind also plans to launch dietary supplements in the United States and is currently developing products and packaging for four products to be manufactured to comply with the United States Food and Drug Administration (FDA) rules. NeonMind plans to roll out these products for sale in the U.S. in spring 2021.
In addition to its consumer products division, NeonMind's pharmaceutical division is engaged in the research and development of drugs and treatments for obesity and obesity related diseases using psychedelic compounds. It is currently engaged in a preclinical trial examining its patent pending treatment of obesity through the administration of psilocybin and is currently developing protocols for a phase 2 human clinical trial. Recent Insider Transactions • Feb 03
Co-Founder & Executive Chairperson recently bought CA$76k worth of stock On the 29th of January, Penny White bought around 282k shares on-market at roughly CA$0.27 per share. In the last 3 months, there was an even bigger purchase from another insider worth CA$425k. This was Penny's only on-market trade for the last 12 months. Announcement • Jan 29
Neonmind Biosciences Inc. Announces CEO Changes NeonMind Biosciences Inc. announced the appointment of accomplished pharmaceutical executive Robert Tessarolo as its Chief Executive Officer. Mr. Tessarolo has 25 years of experience in the pharmaceutical industry. Most recently, he held the position of President and Chief Executive Officer of Mind Medicine (Mindmed) Inc., from September 2019 to January 2020. Prior, Mr. Tessarolo was President and Chief Executive Officer of Cipher Pharmaceuticals Inc. In preparation for Robert Tessarolo's appointment, NeonMind founder Penny White steps down as President and CEO of NeonMind. Announcement • Jan 28
NeonMind Biosciences Inc. Appoints Robert Tessarolo as President NeonMind Biosciences Inc. announced the appointment of accomplished pharmaceutical executive Robert Tessarolo as its President. In preparation for Robert Tessarolo's appointment, NeonMind founder Penny White has been appointed Executive Chairman of the Board and stepped down as President of NeonMind. Mr. Tessarolo has 25 years of experience in the pharmaceutical industry. Most recently, he held the position of President and Chief Executive Officer of Mind Medicine (Mindmed) Inc., from September 2019 to January 2020. Announcement • Jan 13
NeonMind Biosciences Inc. Appoints C. Laird Birmingham as Board of Advisors NeonMind Biosciences Inc. announced that it has engaged Dr. C. Laird Birmingham to consult with NeonMind to develop protocols for its Phase 2 Clinical Trial administering psilocybin to treat obese patients. Dr. Birmingham is a Specialist in Internal Medicine, an Epidemiologist and Biostatistician, and a Professor of Psychiatry at the University of British Columbia where he was previously Professor of Internal Medicine, and he has extensive experience in the design of clinical trials for treatments for eating disorders. He has also been appointed to NeonMind's Board of Advisors. Announcement • Jan 08
NeonMind Biosciences Inc. Appoints Trevor Millar as Chief Psychedelic Officer NeonMind Biosciences Inc. announced that it has appointed Trevor Millar as Chief Psychedelic Officer of the company as of January 6, 2021. 