Neural Therapeutics and Myant Inc. Form Partnership to Incorporate Wearable Technologies into Clinical and Observational Studies
Toronto, Ontario, February 2, 2023, Neural Therapeutics Inc. (“Neural” or the “Company”) is pleased to announce that the Company has entered into a letter of intent (LOI) with Myant Inc., an innovator in the utilization of wearable solutions to collect critical physiological data.
Myant Inc. is a leading innovator in the field of medical smart textile wearable technology, with a special focus on remote patient monitoring for individuals with cardiovascular disease (CVD). With great emphasis on science-based R&D, Myant is dedicated to providing wearable technologies that monitor patients’ physiological metrics in real-time. This greatly enhances medical supervision and patient wellness. In recent years they have produced Health Canada Class II medical devices in the form of ECG/EKG undergarments that continuously collect physiological data. This data is then routed to physicians/care providers who will be able to provide users with medical interpretations. ECG/EKG data collection is common during psychedelic drug trials and it is anticipated that measurements throughout the Study may reveal some new insights into how psychedelics affect the cardiological/respiratory systems. Continuous data collection will provide greater insight into how the cardiovascular system reacts to and benefits from various dose exposures.
Key benefits of Myant’s solution for use in clinical and observational studies include:
- Myant’s wearable technology allows for remote patient monitoring, which means that people on psychedelics will be safely and continuously monitored for critical physiological metrics. This also reduces the need for in-person visits with healthcare providers (e.g. clinics or hospitals). This is a win-win situation, both for patients (less disruption) and healthcare providers (less hands-on, greater capacity, lower costs).
- The increased comfort and unobtrusive nature of wearable technology integrated into garments will reduce hurdles to patient recruitment—a major bottleneck in clinical trials.
- Wearable technologies will enable remote operation, whereby patients who are part of the study will be subject to fewer in-person appointments.
- Continuous collection of physiological data is expected to lead to deeper, actionable insights.
The Myant technology has gained significant traction with renowned institutions, such as the Mayo Clinic whose proprietary heart monitoring and arrhythmia detection technology is exclusively licensed to Myant for use in Textile Computing™ applications.
Ian Campbell, CEO for Neural, commented, “This partnership has the potential of radically changing the way certain studies are done, with major benefits related to data collection, cost and time, while providing more meaningful insights. This has the potential of providing assisted technology to make psychedelic medicine treatment more easily scalable. Our collaboration with Myant shows our dedication to innovation in the pursuit of bringing a new psychedelic pharmaceutical, and down the one also enhanced nutraceuticals, to market.”
Milad Alizadeh-Meghrazi, VP of R&D at Myant, added, “Working with industry leaders like Neural Therapeutics, whose studies on mescaline have the potential of helping a great number of people struggling with difficult-to-treat mental health issues, is something we gladly put our name to. Furthermore, Neural’s philosophy to innovate continuously as a means to achieving better health outcomes matches ours, which is another reason for us to enter into this partnership. We expect that this project will deliver incredible insights, both to the scientific staff running pharmacological studies paired with real-time physiological outcomes, and to us as to how we can further improve our solutions and enter new markets. We are excited about this opportunity and look forward to generating groundbreaking results.”
Myant’s Skiin™ wearables are licensed by Health Canada
About Myant Technologies
Myant knits sensors and actuators into everyday textiles, giving them the ability to sense and react to the human body. This continuous, bidirectional interface to the human operating system will empower humanity to transform its capabilities and performance, help people proactively manage health and deliver treatment, and allow us to build better connections to our own selves and those around us. This is what we call Textile Computing™.
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’s 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 the 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
Marc Lakmaaker
T: +1.647.289.6640
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.