MYND has received the funding that will go towards its research and development into the effects of psilocybin for treating brain and central nervous system diseases.
MYND Life Sciences will benefit from advisory services and up to CAD$45,600 in funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
The funding will support a prescribed research and development project exploring psilocybin for brain diseases that will run from November 2021 to March 2022.
CEO of MYND Life Sciences, Dr Lyle Oberg, MD, commented: “We are very pleased for the support from the Government of Canada, both from the business advisory perspective, as well as the valued funding support.
“We are taking a broad-based, measured approach to harness private capital investment, invaluable university research infrastructure, and guidance backed with funding from important government research enablers to tackle some of the most serious diseases of the brain and central nervous system.”
The objective of the research and development project, titled Phytochemical-analog(s) as a novel method for management of treatment-resistant depression, is to determine how psilocybin analogues target a particular gene pathway to modulate brain function.
MYND Life Sciences, chief science officer, Dr Wilfred Jefferies, added: “This support through NRC IRAP is well-timed and will enable an important piece of our overall approach to creating novel innovations to improve the lives of people suffering from diseases of the Central Nervous System.”
[activecampaign form=52]
