We are excited to announce this key partnership which puts us one step closer to achieving our research and development goals. Caribbean Gold Standard Laboratory holds a research license issued by the St. Vincent and the Grenadines Bureau of Standards. Building on our existing partnerships in Peru, this key milestone advances our mission of helping to address a global crisis caused by mental health disorders.
I also wish to thank everyone for their strong support and warm words of encouragement in response to our inaugural 2023 Annual Shareholder Update that was released earlier this week. We look forward to welcoming the new Series A investors to our cap table and encourage the qualified accredited investors to participate while there is still space.
Neural Therapeutics to Accelerate Clinical Trial Program Through Partnership with Caribbean Gold Standard Laboratory
Toronto, Ontario, January 9, 2023, Neural Therapeutics Inc. (“Neural” or the “Company”) is pleased to announce that the Company has entered into a letter of intent (“LOI”) with Caribbean Gold Standard Laboratory (“CGS”), a leading testing and research company with operations in St. Vincent and the Grenadines.
Purpose of the agreement is for Neural and CGS to collaborate on advancing Neural’s chemical R&D and product development leading to its clinical trial efforts. Another important objective of the proposed partnership is to expand the Company’s IP portfolio related to the extraction of psychedelics and the optimization of existing processes related to their patent pending technologies.
Neural is working towards the launch of its studies on the safety and efficacy of mescaline as a psychedelic medicine for the treatment of stress-related disorders, such as anxiety, depression, PTSD, Substance Use Disorder, and others. To support these efforts, the companies intend to collaborate on optimizing and scaling the Company’s extraction technology for commercial purposes, including for the development of nutraceuticals derived from the San Pedro cactus. Primary focus, though, is completing the supply chain from raw material to product so that the Company and its science partners can commence the trial process.
Ian Campbell, Neural CEO, commented, “We believe that closing the proposed partnership with CGS, will be a pivotal step in accelerating our timeline towards commencing our pre-clinical and Phase I trials, thereby accelerating shareholder value creation. Additionally, while not our core focus, the partnership also enables us to establish a pathway towards the development of commercial, over the counter nutraceutical products. Furthermore, the opportunity to expand our IP portfolio will bring additional value.”
Matthias Piasecki, CEO for CGS, added, “We are very excited about partnering with Neural Therapeutics on furthering the science needed to bring psychedelics such as mescaline to the mainstream. Our lab is increasingly playing a major role in the development of our local science-based infrastructure. We are excited to be working with pioneers such as Neural in a field that has the promise of making a huge and positive impact on the lives of millions of people.”
Mr. Campbell added, “Operating in St. Vincent and the Grenadines, where the government is fully supportive of the efforts to create a ‘Silicon Valley’ for psychedelics research, brings a number of benefits. The Island’s government has created an environment in which it is possible to conduct this vital research with a minimum of red tape and regulatory hurdles. Furthermore, we have access to a local talent pool that will serve the Company well as we continue to execute our strategy.”
Series “A” Financing round launched
With an estimated one in four people struggling with mental health issues, and the current crop of pharma- and talk-based therapies having limited positive efficacy rates, it is clear that new and improved therapy regimes are required. Psychedelics, management expects, will provide the foundation for the development of more robust and efficacious therapies. This should result in a huge reduction of personal suffering, as well as help mitigate the massive negative economic impact from mental health issues. For instance, the World Health Organization estimates that mental health issues will negatively impact the global economy to the tune of around $6 trillion by the year 2030.
The Company is currently in the process of raising additional funds to support the execution of its pre-clinical and clinical trial programs. Interested investors are encouraged to visit the Company’s website and connect with our team (contact details provided below). Funds are largely intended to advance the Company’s pre-clinical and clinical trial programs. More details can be found here: Neural Therapeutics – where tradition meets science.
Mr. Campbell added, “We believe that participation in the financing provides the investors with a very compelling entry point into this exciting sector. Psychedelics have the potential of dramatically improving the health outcomes for stress-related disorders, estimated to impact the lives of 25% of the global population (around 2 billion people!). While scientific research into psychedelics has proliferated in the past coupe of years, mescaline remains an unfragmented sub-segment of this potentially massive market. With very few companies focusing on nature-sourced mescaline, we are in a great position to capitalize on this opportunity.”
About Caribbean Gold Standard Laboratory
CGS is a wholly owned subsidiary of Florida based Validity Laboratory Services Inc., and is operating out of St. Vincent & the Grenadines based medical research lab focusing on testing and processing of pharmaceutical compounds. The company is a leading provider of innovative testing technologies and methods. We perform product testing to help you stay compliant with state and federal regulations, you can count on us to fulfill all your testing needs. We provide comprehensive medical compound testing (e.g. psychedelics, cannabis, etc.) for potency, homogeneity, heavy metals, microbial contamination, mycotoxins, residual solvents, terpenes, and pesticides.
About Neural Therapeutics
Neural is a drug-discovery company focusing on plant based active substances with the goal of delivering beneficial over-the-counter dietary-supplements and psychedelic-based therapeutic-medicines to treat serious mental ailments where no significant treatment is available today. Neural key ingredient is mescaline derived from cacti. Neural has established a supply chain in Peru to source certain specimen of mescaline containing cacti, such as San Pedro cactus and has applied for requisite permits with National Service for Forest and Wildlife or Servicio Nacional Forestal y de Fauna Silvestre (“SERFOR”), to permit it to collect wild species of cacti within Peru for research purposes.
Neural Therapeutics is in the process of being spun out from High Fusion Inc. (CSE: FUZN), by way of the plan of arrangement (please see High Fusion press release dated November 4, 2022).
For more information
Marc Lakmaaker
T: +1.647.289.6640
E: mlakmaaker@gmail.com
Forward looking statements
This news release may contain forward-looking statements and information based on current expectations. These statements include statements regarding: the outlook for the psychedelic products and related industries; the achievement, and the timing of, certain development milestones and the successful execution of Neural Therapeutics’ business strategy (including its business model and mission); anticipated capitalization, projected milestones and the go-forward management of Neural; timing and ability to complete any financing following the Transaction; the potential impact of the COVID-19 pandemic on Neural’s business or operations; and other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance, expected regulatory filings, review and approval dates, and start-up timelines and schedules, and statements related to the continued overall advancement of Neural’s business. 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. This forward-looking information reflects the Company’s current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the ability of the Company and Neural to successfully execute their business plans; legal changes relating to the cannabis and psychedelic industries proceeding as anticipated; and the Company’s continued response and ability to navigate the COVID-19 pandemic being consistent with, or better than, its ability and response to date.
Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, are subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise