Ms. Penny White reports
NEONMIND EXPANDS DEVELOPMENT OF PSYCHEDELIC PATENT PORTFOLIO
The Yield Growth Corp.'s majority-owned subsidiary, NeonMind, has filed an additional provisional patent application related to using psychedelics as medicine. The patent application covers the administration of a compound selected from the group consisting of lysergic acid diethylamide (LSD) and d-lysergic acid amide (LSA) (and compounds with similar molecular structure) in combination with a 5-HT2A antagonist to treat compulsive eating disorder, obesity and related illnesses.
The patent application was filed by NeonMind on June 5, 2020, and Translational Life Sciences Inc. (TLS) has a 20-per-cent interest as a co-collaborator on the development of intellectual property.
"Our research with our scientific team into using psilocybin to treat compulsive eating and food cravings has led to paths of inquiry for research into expanded medical uses of psychedelics," said Penny White, NeonMind chief executive officer. "We are excited to lay the groundwork for new areas of potential research for the future."
The global projected market for weight loss and weight management treatment is estimated at $245-billion (U.S.), according to MarketsandMarkets. The global projected market for diabetes treatment is estimated at $87-billion (U.S.), according to Modor Intelligence.
Research and development involving controlled substances such as psilocybin, LSD and LSA in Canada can only be conducted with approval by Health Canada. Section 56 of the Controlled Drug and Substances Act (Canada) grants Health Canada the right to give exemptions for research into controlled substances.
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 application 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 per cent of Translational Life Sciences.
About The Yield Growth Corp.
Yield Growth 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. Its products are sold through e-commerce worldwide and retail stores in three countries with distribution agreements in place for 12 more countries. It has 14 patent applications filed in what the Global Wellness Institute reports is a $4.2-trillion global wellness market.
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