A Leader in Transformational Medicine
This GreenStar Biosciences profile is part of a paid investor education campaign.*
GreenStar Biosciences (CSE:GSTR, OTC Pink:GTSIF) is a company focused on growth-oriented technologies with its core interest in transformational medicines and wellness. In particular, the company is targeting the psychedelic market in large part thanks to acquisitions and development of assets, products and technologies.
Within the psychedelics space, GreenStar Biosciences stands out from its competitors because it has physicians as part of its management team and four provisional patents filed for medicines that the company believes will have true efficacy in treating certain conditions.
Additionally, GreenStar Biosciences is forming a scientific advisory board that will focus largely on the psychedelics space because it is committed to the product basis and the types of medicine the company is developing.
Psychedelic products contain hallucinogens, such as psilocybin and psilocin, and heightens emotions and sensations by creating a temporary chemical imbalance in the brain. The benefits of psychedelics are being evaluated in a range of mental health disorders, including anxiety, depression and obsessive compulsive disorder as well as areas GreenStar Biosciences is targeting such as brain trauma and posttraumatic stress disorder (PTSD) associated with head trauma.
Through its subsidiary Eleusian Biosciences, GreenStar Biosciences is able to focus on the development of therapeutics for multiple pathological psychological diseases based on MDMA and psilocybin, which is the active ingredient of psychedelic mushrooms, plus NAcetylcysteine(NAC) compounds.
GreenStar Biosciences acquired Eleusian Biosciences in July 2020, adding to the company’s portfolio access to the psychedelic sector and development opportunities with brain health and mental wellness.
As part of the transaction, GreenStar Biosciences acquired key assets from Eleusian Biosciences, including a US Provisional Patent Application called “Device and Method for the Treatment of Traumatic Brain Injuries and Post-Traumatic Stress Disorder,” and US Provisional Patent Application, entitled “Methods and Compositions for Treating Post Traumatic Stress Disorder or Mild Traumatic Brain Injury with Post Traumatic Stress Disorder.”
Other key highlights of the acquisition include a collaborative research agreement in relation to Eleusian’s combination therapy of NAC and psilocybin to treat mTBI with PTSD and a cash balance of C$225,000, net of all liabilities.
Eleusian Biosciences is collaborating with a multidisciplinary team of scientists and physicians at the University of Miami to develop effective therapeutics to treat mild traumatic brain injury and concussion (mTBI) with PTSD or PTSD alone based on the combination of psilocybin and NAC. NAC has demonstrated efficacy in treating mTBI, particularly in reducing neuronal losses and reducing impaired cognitive and neurological symptoms after injury to the head.
In collaboration with university research institutes, GreenStar aims to prove that clinical and physiological effectiveness in post concussion syndrome and PTSD are enhanced by timely measured doses of psilocybin plus NAC with superior clinical results as measured by objective outcomes.
GreenStar Biosciences believes adding psilocybin or MDMA to the mixture will help suppress or eradicate pathological memories associated with PTSD. It has the potential for positive clinical outcomes in treating destructive behaviours such as drug and alcohol addiction, obsessive compulsive disorder (OCD), Alzheimer’s and Parkinson’s disease, autism, schizophrenia and bipolar disorder.
Cowlitz County Cannabis Cultivation Inc., another subsidiary of GreenStar Biosciences, is also an integral part of the company’s business plans moving forward. Cowlitz, based in Washington State, is a Tier 2 licensed cannabis processor. Washington is one of the states where medical use of cannabis is legal and is one of the most mature cannabis markets in the country. As a top producer in the state, Cowlitz has a range of innovative products and brands it brings to the market.
GreenStar Biosciences Company Highlights
- Is focused primarily in the US market for head trauma
- Currently targeting the psychedelics market through its acquisition of Eleusian Biosciences
- Therapeutic areas the company is focused on include brain trauma and posttraumatic stress disorder (PTSD) associated with head trauma
- Through the acquisition, GreenStar Biosciences acquired provisional patents to treat PTSD or mTBI with PTSD
- A third provisional patent was also acquired for methods and compositions for treating mTBI PTSD alone with 3,4 MDMA plus NAC
- Its fourth patent pending is a medical device for delivery of medicines to the olfactory bulb and GreenStar is currently searching for a device development partner.
- Eleusian is collaborating with a multidisciplinary team of scientists and physicians from the University of Miami to develop therapeutics to treat mTBI with PTSD or PTSD alone based on the combination of psilocybin and NAC
- Through its subsidiary Cowlitz County Cannabis Cultivation Inc., GreenStar Biosciences owns certain assets including the property leases and intellectual property of Cowlitz
- Cowlitz is one of the top 5 Tier 2 processors in Washington state and has its products broadly available at dispensaries across the state
GreenStar Biosciences Future Outlook
Moving ahead, GreenStar Biosciences has a range of catalysts on the horizon.
The company is gearing up to conduct pre-clinical studies, which includes GLP toxicology, ADME in addition to forming and manufacturing, to file an investigational new drug application (IND). GreenStar Biosciences, together with its subsidiary Eleusian Biosciences, will partner with the University of Miami to conduct the study on rodents to prove the efficacy of the molecules.
With successful results following the study and regulatory approval, Greenstar Biosciences aims to file its IND with the US Food and Drug Administration (FDA) by March 2022 to be able to move the candidate of psilocybin and NAC into a Phase 3 Clinical Trial by July 2022 on humans for the treatment of mTBI with PTSD or PTSD alone in collaboration with investigators at the University of Miami and other clinical research institutions. The company aims to look at what proper dosing will look like with these trials.
Pending any FDA approval, GreenStar Biosciences will consider bringing its products to other global markets.
GreenStar Biosciences’ Management Team
Tom Baird—CEO and Director
Tom Baird has an extensive background as a CEO and strategy executive, leading corporate development and product management teams for both private and publicly trading companies. His portfolio includes working with companies such as TRW Inc. (Northrop Grumman), Reynolds and Reynolds and Mitchell International. With experience in a range of sectors including cannabis, Baird was recently a co-founding partner of a licensed California cannabis manufacturer.
For over 13 years, Brian Zasikto has worked in a number of private and public companies in sectors such as cannabis, agriculture, manufacturing, and utility industries. Mr. Zasitko is well versed in financial reporting and corporate governance and the capital markets.
Dr. Maghsoud Dariani—Chief Science Officer
Dr. Dariani has extensive experience working with a wide range of life science companies. He is the current president and CEO of Semorex Inc., a privately held company focused on novel therapeutics for cancer. Mr. Dariani was previously the president of Focus Pharmaceuticals, Inc., where he managed the development and approval of drug products and notched an FDA approval for another clinical evaluation stage.
Jonathan Gilbert was the founder and CEO at Tassili Life Sciences Corp., a biotech firm conducting research with psilocybin. Gilbert is also the founding CEO of Eleusian Biosciences, which GreenStar Biosciences acquired in June 2020, and will play an integral role in the company’s growth strategy moving forward.
Leighton Bocking has worked in the capital markets for over a decade. Primarily, his role has been as an independent corporate development consultant as well as other various director roles. Mr. Bocking has been particularly focused on financing and structuring companies.
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