VANCOUVER, BC / ACCESSWIRE / August 1, 2024 / MindBio Therapeutics Corp. (CSE:MBIO)(Frankfurt:WF6), (the "Company" or "MindBio"), a leading biopharmaceutical company in psychiatric medicine development, is pleased to report that it has appointed Haywood Securities Inc. ("Haywood") to act as strategic advisor to the Company to support its near-term objectives.
Haywood's services will focus on assisting the Company to secure potential strategic level investment and transactions with strategic partners.
The terms of the agreement provide for fees by payment in Warrants, with a maximum of 7,500,000 Warrants to be issued in payment for a minimum commitment of 6 months. Customary success fees are also payable upon a successful completion of a transaction.
MindBio has achieved a significant milestone having multiple Phase 2B clinical trials underway with Government and Regulatory approvals for take-home use and handling of a psychedelic medicine by trial patients on their own and out in the community. MindBio's lead candidate drug MB22001 has shown promising results in Phase 1 and Phase 2A Depression trials demonstrating excellent safety and adherence and substantial effects on mood, improvements in sleep and significantly reduced depression symptoms.
MindBio's thesis is that microdosing psychedelic medicines is a globally scalable, effective, affordable way to treat patients with mental health conditions without the side effects of antidepressant medications. The Company currently has two Phase 2B clinical trials dosing and underway (a depression trial and a cancer trial) and those trials will run well into 2025.
The Company has also recently had a third Phase 2B trial in PMS (Pre-Menstrual Syndrome) and PMDD (Pre-Menstrual Dysphoric Disorder) approved for take-home dosing.
Justin Hanka, Chief Executive Officer of MindBio commented: "We are delighted to appoint Haywood to advise and lead our strategic investment initiatives as we prepare the Company for late stage clinical trials".
We invite you to join us in support of creating a brighter future for mental health.
MindBio is a leading biotech/biopharma company focused on creating novel and emerging treatments for mental health conditions and is conducting world first take-home Microdosing (MB22001) human clinical trials. MB22001 is MindBio's lead candidate drug, a proprietary titratable form of Lysergic Acid Diethylamide (LSD) designed for take-home microdosing. MindBio is a leader in microdosing of psychedelic medicines and is advancing its drug and technology protocols through clinical trials. MindBio has developed a multi-disciplinary platform for developing treatments and is involved in psychedelic medicine development and digital therapeutics, has completed Phase 1 clinical trials in 80 healthy participants and has completed a Phase 2a clinical trial in patients with Major Depressive Disorder, both trials with positive top line data reported. Currently underway are two Phase 2B trials, one in cancer patients experiencing existential distress and another in patients with Major Depressive Disorder. The Company is also approved for multiple Phase 1/Phase 2B trials in women's health. MindBio invests in research that forms the basis for developing novel and clinically proven treatments including digital technologies and interventions to treat debilitating health conditions such as depression, anxiety and other related mental health conditions.
About Haywood
Founded in 1981, Haywood is a 100 percent employee-owned investment dealer with more than 340 employees in its Canadian offices in Vancouver, Calgary and Toronto. Haywood Securities Inc. is a member of the Toronto Stock Exchange, the TSX Venture Exchange, the Montreal Exchange (MEX), the Canadian Securities Exchange (CSE), the Canadian Investor Protection Fund (CIPF), and the Investment Industry Regulatory Organization of Canada (IIROC). In addition, Haywood Securities (USA) Inc., a wholly owned subsidiary, is a broker-dealer registered to transact securities business in the United States and is a member of the Financial Industry Regulatory Authority (FINRA).
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Additionally, there are known and unknown risk factors that could cause the Company's actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and Australia; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release. All forward-looking information is qualified in its entirety by this cautionary statement.
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