Vancouver, British Columbia–(Newsfile Corp. – June 4, 2020) – The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) announces that its majority owned subsidiary NeonMind, on June 3, 2020 filed a U.S. provisional patent application in the United States for the invention relating to therapeutic administration of psilocybin or psilocin (or analogs thereof) (“Psilocybin“) combined with supportive therapeutic treatment for a patient to provide weight loss benefits and treatment for related health issues.
Figure 1: NeonMind Files for U.S. Provisional Patent to Use Psychedelic-Assisted Psychotherapy for Weight Loss
The provisional patent is for a proposed guided psychedelic psilocybin therapy protocol using psychotherapy prior to, during and after the psychoactive effects of the Psilocybin are felt by the patient. The psychedelic assisted psychotherapy is designed to assist in gaining insights from positive psychedelic experiences, to be integrated into everyday life and to help plan, prepare and make sense of psychedelic experiences for a therapeutic result. It can include an exploration of unresolved issues in the patient’s life that are embedded in his or her subconscious, including discussions or examinations of pain. It may also include building self-esteem, the patient taking responsibility for his or her own condition, self empowerment, and acknowledging or releasing any unhealthy self defence mechanism of overeating.
NeonMind previously announced that it filed a provisional patent in December 2019 for the use of microdose administration of Psilocybin for weight loss benefits. NeonMind has retained contract research organization Translational Life Sciences Inc. to design and plan an initial preclinical study using psilocybin which is anticipated to begin in the fall of 2020. The preclinical study is anticipated to provide data to design phase 2 human clinical trials to test Psilocybin as a weight loss treatment. The phase 2 clinical trials are anticipated to begin in 2021, subject to receiving all required regulatory approvals.
NeonMind’s combined provisional patent applications cover the administration of Psilocybin to provide weight loss benefits and potential treatment or regulation of diabetes, and regulation of blood glucose, and to reduce susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus, hypertension, multiple sclerosis, erectile dysfunction, urinary incontinence, chronic renal failure, sleep apnea, asthma, and certain forms of cancer.
The U.S. provisional patent application provides a right of priority under the Paris Convention as well as the Patent Cooperation Treaty (“PCT“). This means it establishes an effective filing date for inventions adequately described within it for PCT applications or applications in more than 170 countries who are members of the Paris Convention, as long as the foreign application is filed within one year of the provisional filing date.
About Translational Life Sciences Inc.
TLS is a contract research organization and a life sciences company focused on developing proprietary formulations that contain restricted substances for clinical applications to serve unmet medical needs in the market. The TLS team is composed of physicians and scientists who are recognized thought leaders in the fields of Neurology, Pharmacology, Diabetes, Addiction and Biochemistry and have significant experience in the clinical application of cannabinoid compounds.
About NeonMind Biosciences Inc.
NeonMind is dedicated to the enhancement of human life and wellness through the advancement of bioscience to engage the mind to heal the body. It aims to be a leader in the fast-growing functional and adaptogenic foods market, and is engaged in research and the development of products and services using medicinal and psychedelic mushrooms to heal the body through the mind. NeonMind has filed a U.S. provisional patent applications to protect the invention that the administration of psilocin and/or psilocybin results in overall weight loss in individuals by reducing food cravings, counteracting compulsive overeating, improving quality of diet, increasing metabolism, treating diabetes, regulating blood glucose and reducing susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus and other illnesses associated with obesity. NeonMind owns 18% of Translational Life Sciences Inc. Yield Growth owns approximately 68% of the issued and outstanding stock of NeonMind.
About The Yield Growth Corp.
The Yield Growth Corp. (CSE: BOSS),(OTCQB: BOSQF) is a phytoceutical and consumer packaged goods company that develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes plant-based products that improve lives. It has over 200 proprietary wellness formulas at various stages of commercialization, including over 20 products that are now for sale through e-commerce or brick and mortar retail stores. It is currently launching several hand sanitizer products in response to COVID-19. It has 14 patent applications filed in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. Its majority owned subsidiary NeonMind Biosciences Inc. is launching a line of medicinal mushroom products and is developing intellectual property in the emerging area of psychedelic medicine. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, Skechers and Aritzia.
Investor Relations Contacts:
Penny White, President & CEO
Kevan Matheson, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies do to the spread of the Coronavirus, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Yield Growth cautions readers not to place undue reliance on forward-looking statements provided by Yield Growth, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Yield Growth expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.