- Investment banking firm The Maxim Group reiterates ‘buy’ rating on MCURF following the company’s updates on pivotal research and technology, including The Desire Project, manufacturing of synthetic ibogaine, and the iSTRYM platform
- MINDCURE is focused on developing psychedelic compounds to scale science-backed and evidentiary-based mental health therapy worldwide
- In July, MINDCURE filed for patents on two routes of full chemical synthesis, which initiated the production of Good Laboratory Practice (“GLP”) ibogaine, which will lead to the production of Good Manufacturing Practice (“GMP”) ibogaine to scale and manufacture a global supply of its synthetic ibogaine
- In addition to this pre-clinical trial, MINDCURE has completed the draft research protocol for The Desire Project, which incorporates MDMA with psychotherapy to help treat female sexual hypoactive disorder
Mind Cure Health (CSE: MCUR) (OTCQX: MCURF) (FRA: 6MH), a leader in advanced proprietary technology and research for psychedelics, recently provided updated information on the company’s studies and clinical trials, as well as its leading technology and the latest corporate operations. Through digital therapeutics (“DTx”), MINDCURE is focused on developing psychedelic compounds to scale science-backed and evidentiary-based mental health therapy worldwide. The company’s update shares significant milestones that have been reached this year for both operating arms, MINDCURE Research and MINDCURE Technology (https://ibn.fm/SAxmI).
The research arm of MINDCURE offered several updates for 2021, including important milestones in its synthetic ibogaine manufacturing. In March 2021, the company initiated chemical synthesis routes to produce fully synthetic ibogaine. In July, MINDCURE filed for patents on two routes of full chemical synthesis, which initiated the production of Good Laboratory Practice (“GLP”) ibogaine, which will lead to the production of Good Manufacturing Practice (“GMP”) ibogaine, to scale and manufacture a global supply of its synthetic ibogaine. The company is currently on schedule to provide GLP ibogaine to its research partners by Q2 2022.
The pre-clinical update from MINDCURE confirms that the company intends to send ibogaine material to its pre-clinical research partner. Initially, the product will be used for broad cardiac and neurological screens, with in-depth behavioral studies possible later on. Called MSYNTH-001, the program is expected to yield initial study results during the first quarter of 2022.
In addition to this pre-clinical trial, MINDCURE has completed the draft research protocol for The Desire Project, a program that incorporates MDMA with psychotherapy to help treat female Hypoactive Sexual Desire Disorder (“HSDD”). MINDCURE expects to have a pre-IND meeting with the FDA during Q1 2022 and the commencement of Phase 2 by Q3 2022.
“We are proud to report that MINDCURE’s core research programs are progressing rapidly, showcasing our disciplined commitment to advancing MINDCURE’s drug research and commercial production programs,” President and CEO of MINDCURE, Kelsey Ramsden, stated. “Concurrently, we maintain a focus on identifying opportunities to expand our drug development pipeline.”
The company also reported on MINDCURE Technology operational segment milestones, more specifically on the iSTRYM digital platform’s progress. In August 2021, MINDCURE released the minimum viable product version of its digital therapeutics technology to partner clinics across North America, with great success – the company has so far partnered with 20 ketamine clinics in nine different states in the U.S. and three Canadian provinces. Continuing to work toward becoming a leader in the distribution of high-quality therapy protocols through iSTRYM, the company plans to commence full commercial deployment of its digital therapeutics platform to partner clinics early next year, while also planning to expand to Europe and the UK by Q4 2022.
Corporate-wise, the company announced that it granted 30,000 stock options to certain employees and that it engaged the services of Sandstone Media LLC for comprehensive marketing and media strategy and services, including product and brand awareness, content creation, social media, advertising, and more.
A day after MINDCURE released its update, leading investment banking and wealth management firm The Maxim Group reiterated a ‘buy’ rating for the company, noting the progress achieved across its research and technology programs and pipeline, from iSTRYM to ibogaine and The Desire Project. In its analysis report, The Maxim Group underlined that it is key for the company in 2021 to continue with the block and tackle approach. This approach puts the company in the best position in the evolving psychedelic-based medicine space, the report says. According to the investment bank, even if share value dropped in 2021, all the pieces should fall into place for MINDCURE shares to do well in 2022.
For more information, visit the company’s website at www.MindCure.com.
NOTE TO INVESTORS: The latest news and updates relating to MCURF are available in the company’s newsroom at http://ibn.fm/MCURF
Certain information presented in this article may constitute “forward-looking information” within the meaning of applicable securities laws regarding MINDCURE and its business. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases.
Forward-looking information is based on a number of key expectations and assumptions made by management of MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE’s business; the Company will develop its products as expected and that they will attain the outcomes anticipated; there will be a demand for MINDCURE’s products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that strategic partnerships entered by the Company will create the opportunities and outcomes anticipated; that MINDCURE will advance wellness worldwide; that trading on the OTCQX will attract additional investment and provide additional liquidity for shareholders.
Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information inherently entails known and unknown risks and uncertainties about the future and actual results and involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: successful clinical studies relating to ibogaine and the Desire Project, successfully synthesizing and manufacturing of ibogaine, the successful development, integration and deployment of iSTRYM, the successful development of appropriate Ketamine protocols, and acquiring adequate protection of any IP developed. Although MINDCURE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking information presented, there may be other factors that cause results, performance or achievements to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements as no forward-looking information can be guaranteed.
Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and MINDCURE does not undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.
The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.
For further information
MINDCURE Investor Relations
Annie Graf / Kristin Cwalinski
KCSA Strategic Communications
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