In addition to our partnership announcement last week, we are excited to announce the partnership with Montreal-based Folium Labs. The partnership is aimed at developing intellectual property for next generation psychedelics drug delivery.
We also would like to thank all our readers and followers for their support and vote of confidence. As our Series A financing continues to fill up, there is still room on our cap table for qualified accredited investors to participate.
Neural Therapeutics and Folium Labs to Collaborate on the Development of Mescaline and San Pedro Derived Products with Enhanced Bioavailability
Toronto, Ontario, January 16, 2023, Neural Therapeutics Inc. (“Neural” or the “Company”) is pleased to announce that the Company has entered into a letter of intent (LOI) with Folium Labs, Inc., a Montreal-based biotechnology company specialized in the development and commercialization of proprietary technologies that deliver enhanced bioavailability and targeted delivery of active ingredients. The companies intend to work together to co-develop, commercialize and distribute products intended to help patients with depressive disorders, post-traumatic stress disorders, panic and anxiety disorders, and other affective disorders.
Folium has developed a patented technology, SSRM (for Solid State Reactive Mixing), designed to improve the bioavailability and efficacy of active ingredients in liquid and solid formulations. At its core, the SSRM technology creates highly soluble and bioavailable molecular complexes that consist of natural biopolymers and active ingredients. This matrix of biopolymers acts as a delivery vehicle as it encapsulates lipophilic compounds. While the technology is simple and cost-efficient, it is capable of increasing the bioavailability of active pharmaceutical ingredient by 7~8 times, while delivering faster onset of action.
Neural Therapeutics is gearing up towards conducing its clinical trials to prove the safety and efficacy of mescaline as a psychedelic for treating stress-related disorders. The Company has identified a number of aspects to enhance a patient’s response to mescaline-based therapy. In particular, the partnership will focus on developing new products that deliver improved blood brain barrier penetration by the active ingredient potentially reducing the time to onset of drug effect.
“Once completed, we believe this partnership will enable us to further enhance the effectiveness of mescaline-based products for therapeutic purposes. We also have reasons to believe that the SSRM technology has the potential of enhancing the properties and marketability of any nutraceutical we may develop from the San Pedro cactus,” stated Ian Campbell, Neural CEO. “Furthermore, both companies will also benefit from the value generated by new intellectual property. In the end, though, this is about delivering better products to those in need, and we are excited about the potential this partnership has of contributing towards that goal.”
Dmitri Boudovitch, CEO of Folium, added, “This partnership has the potential of expanding the commercial application of our technology into what we believe will an incredibly large market. We are proud to be part of an initiative that aims to help millions of people whose lives have been impacted by mental issues, and are looking forward to working with the highly qualified Neural team to develop new and unique products that are more efficacious. The quality of the Neural team, their approach to drug development and the unique aspects of mescaline were all important factors in us entering into this partnership.”
Folium, recently included by BestStartup.ca as being one of the 78 best pharmaceutical start-ups and companies, is a Montreal-based biotechnology company focused on the development and commercialization of proprietary delivery platform that provides enhanced bioavailability and targeted delivery of active ingredients.
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 (CSE: FUZN).
For more information
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