Wesana To Fund and Develop Facility for Research and Product Development with ‘BrainStorm Lab’
TORONTO and CHICAGO, June 24, 2021 (GLOBE NEWSWIRE) — Wesana Health Holdings Inc. (“Wesana” or the “Company”) (CSE: WESA), an emerging data driven life sciences company focused on developing innovative approaches for better understanding, protecting and improving neurological health and performance, including through the advancement of psychedelic medicines, today announced a partnership with the University of South Carolina (“UofSC”)to develop and build a bespoke facility for advanced research and product development related to treating traumatic brain injury (TBI) and improving neurological performance.
The facility, called the BrainStorm Lab, will serve as a hub for neurological and cognitive improvement research, formulations, protocols, technology and product development. Through this partnership, the BrainStorm team will work with the advanced neuroscience resources at the University of South Carolina as well as teams at other leading universities to build programming, protocols and FDA-approved medications to address some fundamental problems in the traumatic brain injury space, including diagnostics, prophylactic training and neuro protectant supplementation. The team will develop, refine, or validate use of diagnostic tools to measure cognitive performance and post-concussion effects of TBI, especially deficiencies across critical brain systems in order to facilitate rehabilitation and enhance human performance.
Wesana will initially fund the buildout of the BrainStorm center with a 1.5 MM cash contribution and will execute clinical drug development work in addition to developing proprietary intellectual property in parallel, with the proper FDA and IRB approvals, to develop compounds of interest that will enhance neural performance and act as neuro-protectants for the high-risk populations supported by the center of excellence. This work is forecast to begin in Q4 ’21.
“The University of South Carolina is a recognized global leader at the convergence of health and sports with the top-ranked exercise program in the nation, and top-three ranked program in the world. Through the combined efforts of Wesana and UofSC, this research center and its focus on the intersection of neurological health and athletic performance will help to advance the state of brain health amongst athletes and put them in position for greater success both during and after their playing careers,” said Chad Bronstein, Co-Founder and Executive Chairman of Wesana Health.
BrainStorm’s team of experts will work with leading athletes, Olympians and military personnel to design and implement means of protecting the brain prophylactically pre-game or pre-battle as well as in acute post-injury scenarios. This will be a key benefit for athletes participating in high-impact sports, as well as military and government personnel. Development will begin within the next 30 days. Upon completion of construction, the facility will be operational and evaluating athletes, veterans and patients within nine months.
“The BrainStorm Lab was founded on the principle that an ounce of prevention is worth a pound of cure. Historically, brain health has fixated on measuring or mitigating degradation after an injury takes place. BrainStorm is a collaboration of some of the nation’s most forward-thinking scientists focused on building armor around the brain before the injury occurs,” added Paul DiTuro, Founder and Performance Director of BrainStorm Lab at the University of South Carolina.
“Through the BrainStorm Lab and our partnership with UofSC, we will be on the cutting edge of research and what collision and non-collision sports athletes, military operators and TBI survivors can be doing now, to enhance cognitive and athletic performance, inherently protecting themselves from future injury,” said Daniel Carcillo, co-founder and CEO of Wesana Health.
Wesana is an emerging life sciences company championing the development and delivery of psychedelic and naturally-sourced therapies to treat traumatic brain injury (TBI). Through extensive clinical research and academic partnerships, Wesana is developing evidence-based formulations and protocols that empower patients to overcome neurological, psychological and mental health ailments caused by trauma.
Learn more at www.wesanahealth.com
About the University of South Carolina
The University of South Carolina is a globally recognized, high-impact research university committed to a superior student experience and dedicated to innovation in learning, research and community engagement. Founded in 1801, the university offers more than 350 degree programs and is the state’s only top-tier Carnegie Foundation research institution. More than 50,000 students are enrolled at one of 20 locations throughout the state, including the research campus in Columbia. With 56 nationally ranked academic programs including top-ranked programs in international business, the nation’s best honors college and distinguished programs in engineering, law, medicine, public health and the arts, the university is helping to build healthier, more educated communities in South Carolina and around the world.
Forward-Looking Information and Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to future partnerships, collaborative research and the focus of the Company’s business. Any such forward-looking statements may be identified by words such as “expects”, “anticipates”, “intends”, “contemplates”, “believes”, “projects”, “plans” and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance regarding the participation in, or success of, partnerships or collaborative research or that the Company will continue its business as described above. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances or actual results unless required by applicable law. Readers are encouraged to refer to the Listing Statement filed on Company’s profile on SEDAR at www.sedar.com for information as to the risks and other factors which may affect the Company’s business objectives and strategic plans.