Pharmaceutical

Analytical testing will accelerate Numinus' Research and Development capabilities and generate revenue through third-party clients Numinus Wellness Inc.  a leader in psychedelics-focused mental healthcare, has today announced novel, proprietary methods for psychedelic mushroom compound screening. The testing, which was developed and validated in-house, will be available as part of its service offerings for ...

Analytical testing will accelerate Numinus' Research and Development capabilities and generate revenue through third-party clients

Numinus Wellness Inc. ("Numinus" or the "Company") (TSXV: NUMI), a leader in psychedelics-focused mental healthcare, has today announced novel, proprietary methods for psychedelic mushroom compound screening. The testing, which was developed and validated in-house, will be available as part of its service offerings for third-party clients and used for evidence-based conversations with the regulators.

As a global leader in psychedelics testing Numinus Bioscience continues to make strides in the development of analytical testing methods for the psychedelics industry. Amongst the matrices for which methodologies are being developed are Psilocybe mushroom fruiting bodies, extracts, and derivatives and, coupled with required testing such as contaminants and residues, the lab has validated methods for active constituents.  The Psilocybe mushrooms constituent screen includes Psilocybin, Psilocin, Baeocystin, Norbaeocystin and Tryptophan, Norpsilocin and Aeruginascin which represent the most well-defined alkaloids for Psilocybe species.

"The testing we've developed and validated at Numinus Bioscience will facilitate the safety and efficacy testing of psychedelics for our products, our clients and strategic partners, and ultimately the industry," says Sharan Sidhu , Science Officer and General Manager. "Working with regulators, we look forward to establishing tools to create a stronger foundation of analytical methods for psychedelic compounds and products."

In addition to screening for therapeutically active constituents, the lab has successfully developed a psychedelic mushroom toxicity screen that includes nephrotoxic and hepatotoxic compounds. Although the platform has been developed for industry, the screen can quickly identify toxins from several varied species and is being offered to healthcare providers to identify toxins in poison control responses, demonstrating the value of this research beyond the psychedelic industry. Toxicity scans are completed using the Orbitrap, a state-of-the-art, industry leading high resolution mass spectrometry instrument.

"These in-house validated methods are another example of success in analytical development at Numimus, showing our commitment to strengthen regulatory confidence in these products," says Payton Nyquvest , CEO and Founder, Numinus. "We continue to push the boundaries as we establish our role as The Center of Excellence for Psychedelic Research and Development, with the furtherment of the industry at the heart of our advancements."

The research team has thus far characterized over 260 compounds, many of them characterized for the first time in psychedelic mushrooms and continues to make novel discoveries in research and development of Psilocybin. Numinus Bioscience also continues to build testing capabilities for Ketamine, LSD, Mescaline, DMT and MDMA.

About Numinus
Numinus Wellness (TSXV: NUMI) helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model - including psychedelic production, research and clinic care - is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.

Learn more at www.numinus.com and follow us on LinkedIn , Facebook , Twitter , and Instagram .

Forward-looking statements
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are "forward-looking statements". Forward-looking statements can be identified by the use of words such as "expects", "does not expect", "is expected", , "intends", "anticipates", "does not anticipate", "believes" or variations of these words, expressions or statements, that certain actions, events or results "may", "could", "would", "might" or "will be" taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand the Company's facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal and provincial legalization, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company's limited operating and profitability track record; dependence on management; the Company's need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the continued impact of the COVID-19 pandemic; and the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company's efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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SOURCE Numinus Wellness Inc.

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Numinus

Numinus

Overview

Numinus (TSX:NUMI, OTC Pink: NUMIF) is a healthcare company at the forefront of addressing the growing prevalence of mental health issues and desire for greater wellness. The company offers an integrated therapeutic model to create lifelong relationships with people seeking physical, mental and emotional health with a focus on treating mental illness, trauma and substance abuse.

In addition to services including counselling, neurofeedback, physiotherapy and other therapies, Numinus aims to conduct psychedelic-assisted therapies to help people heal, connect and grow — when approved by Health Canada, Colleges and other regulators. Numinus put a value chain in place that will be key to the company's growth and success. Numinus Bioscience is licensed by Health Canada to test, sell and distribute psychedelic substances. Numinus Wellness plans to establish physical locations where psychedelic-assisted therapies can take place once approved by regulators. Lastly, Numinus R&D is where partnerships with leading research groups will take place to advance practice and understanding in the space.

Numinus Bioscience is making a name for itself in analytical testing for psychedelic substances and as a place of excellence for product research and development. Numinus Bioscience's 7,000 square foot analytics and research laboratory handles a range of psychedelic substances and analytical methods and uses for the psychedelics space. In October 2020, Numinus announced it had harvested the first legal flush of Psilocybe mushrooms in Canada by a public company under its Health Canada-issued Controlled Drugs and Substances Dealer's Licence.

Numinus was founded by Payton Nyquvest and Stacey Wallin, who both have a passion for developing holistic therapies that deal with the root causes of mental illness, addictions and trauma. The two founders have a wealth of experience in bringing innovative companies to the capital markets. Nyquvest, for example, has raised over C$100 million for public and private companies alike and has facilitated numerous IPOs, including Numinus' pending RTO with Salvation Botanicals and Rojo Resources Ltd. Joining the team as Chief Operating Officer is Michael Tan, who was the first director for the British Columbia Liquor Distribution Branch's (BCLDB) cannabis division. He also has a track record of driving profitable revenue growth.

Numinus' Company Highlights

  • RTO with Salvation Botanicals and Rojo Resources Ltd. completed in Q2 2020.
  • When approved by Health Canada and Colleges, Numinus aims to conduct psychedelics-assisted therapies to help people heal, connect and grow. These therapies will be conducted in safe, controlled therapeutic environments when approved by regulators.
  • Has a 7,000 square foot laboratory that is licensed by Health Canada to test, possess, buy and sell various controlled substances.
  • In October 2020, the company harvested the first legal flush of Psilocybe mushrooms in Canada by a public company under its Health Canada-issued Controlled Drugs and Substances Dealer's Licence.
  • Revenue from the company's existing cannabis testing operations provides a foundation for growth, differentiating Numinus from others in the psychedelics space.
  • The cannabis portion of the business has the potential to bring in C$25 million, dependent on timing of receiving Health Canada processing licence and production facility operating at capacity.
  • The company's long-term plans are to build a network of healing centres across North America, staffed with professional therapists and integrative health professionals.
  • Research partnerships in place with MAPS and Together We Can and Memorandum of Understanding signed with the BC Centre on Substance Use (BCCSU).
  • Numinus has closed its acquisition of the Neurology Centre of Toronto (NCT), a leading Canadian provider of clinical neurologic care.

Regulators Turning to Psychedelic Therapies to Treat Mental Illness and Addiction

In 2017, psychedelic therapies were designated as a breakthrough therapy by the FDA due to the growing need for solutions for mental health-related issues across the globe. According to the World Health Organization, mental health disorders affect one in four people at some point in their lives, and approximately 450 million people currently suffer from mental health issues, making it a leading cause of ill-health and disability worldwide.

If left untreated, mental health disorders can cost Canadians C$51 billion per year in health care costs, lost productivity and reductions in health-related quality of life, according to the Centre for Addiction and Mental Health (CAMH).

Leading organizations such as the FDA and Johns Hopkins are helping to position the use of psychedelic assisted therapies in regulated, safe, controlled therapeutic environments as accepted therapeutic options. Many research organizations, such as BCCSU, have been testing the efficacy of treating mental health disorders with various psychedelics.

Numinus' Management Team

Payton Nyquvest – Founder, Chairman and CEO

Payton Nyquvest founded Numinus out of a lifelong interest in health, wellness and personal development, triggered by mental health and chronic autoimmune problems in his earlier years. Transformational therapies helped to save his life, and he is driven to provide public access to these therapies.

He is a former Director, VP and Head of Sales at Mackie Research Capital, with 15 years of experience focusing on early-stage companies in multiple industries including technology, healthcare, biotech, cleantech and cannabis. He has raised over $100 million for more than 100 public and private companies and facilitated numerous IPOs.

Dr. Evan Wood – Chief Medical Officer

Dr. Evan Wood is a recognized researcher with 20+ years of experience in addiction research, most recently as Executive Director of the British Columbia Centre on Substance Use (BCCSU). A professor of medicine at the University of British Columbia. Work on psychedelic-assisted psychotherapy, his work includes involvement with the Multidisciplinary Association for Psychedelics Studies (MAPS) trial of MDMA-assisted psychotherapy and examining the potential of psilocybin-assisted psychotherapy for a range of mental health disorders.

Dr. Devon Christie – Medical Director

Dr. Christie, a clinical instructor with the UBC Department of Medicine, is also a family physician with a focused practice in Multidisciplinary Pain Management. She is a Registered Therapeutic Counsellor emphasizing Relational Somatic Therapy for trauma resolution and she is also trained to deliver both MDMA-assisted psychotherapy for PTSD (MAPS USA) and ketamine-assisted psychotherapy, in a research setting. She is a recognized speaker and expert on the potential for incorporating psychedelic assisted therapies in an improved health care model for the future.

Michael Tan – Chief Operating Officer

Michael Tan is the former and first executive director of the BCLDB's Cannabis Division, where he successfully launched cannabis operations in British Columbia. Michael has 20 years of strategic planning and execution with national and multinational corporations. He is a high-impact product development, marketing and operations executive with a track record of driving profitable revenue growth.

Kraig Docherty – Chief People Officer

Kraig Docherty has over 20 years of experience growing and scaling tech and creative companies such as EA, Activision Blizzard, Indochino, Invoke and Eventbase.

John Fong – Chief Financial Officer

John Fong is a professional accountant with over two decades of experience in financial and operational management. He provides stability and growth solutions to public natural resource companies and technology start-ups.

Dennis McKenna – Advisor

McKenna brings over 40 years of experience conducting research in ethnopharmacology. He is a Founding Board Member of the Heffter Research Institute and a former key investigator on the Hoasca Project, the first biomedical investigation of ayahuasca. McKenna has taught courses on Ethnopharmacology and Plants in Human Affairs for 17 years as an adjunct Assistant Professor in the Center for Spirituality and Healing at the University of Minnesota . In collaboration with colleagues in Canada and the US, he incorporated a new non-profit, the McKenna Academy of Natural Philosophy.

Jamie Wheal – Advisor

Wheal is a bestselling author, Pulitzer Prize nominee and founder of the Flow Genome Project, an international organization dedicated to research and training of ultimate human performance. Since its inception in 2011, the organization has become the leading voice of evidence-based peak performance. Wheal is an expert on peak performance and leadership, specializing in the neuroscience and application of Flow states.

Ben Nemtin – Advisor

Nemtin is the #1 New York Times bestselling author of What Do you Want to Do Before You Die?, co-founder of the Buried Life movement and a mental health advocate. Nemtin was forced to drop out of university due to depression and in an effort to feel more alive, he and his three friends made a list of “100 things to do before you die" and for every list item they accomplished, they helped a complete stranger cross something off their bucket list. Oprah Winfrey declared their mission “truly inspiring." Nemtin is recognized as one of the “World's Best Motivational Speakers" as well as “World's Top Organizational Culture Thought Leaders" by Global Gurus and regularly speaks to Fortune 100 leadership teams and business conferences around the world.

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