TORONTO–(BUSINESS WIRE)–Biomind Labs Inc. (“Biomind Labs” or the “Company”) (NEO: BMND) (OTC: BMNDF) (FSE: 3XI), a leading biotech company focused on developing the next generation of pharmaceuticals to treat patients suffering from neurological disorders by targeting the drivers of disease, is pleased to announce that it has successfully completed the optimization of a new extraction method to increase the purity and yield of N,N-dimethyltryptamine (“DMT”). DMT was submitted as a Company’s New Chemical Entity (“NCE”) Triptax™. The U.S. Food and Drug Administration (the “FDA”) has given the Company Investigational New Drug clearance related to Triptax™.
“This achievement marks a new major step in our objective to upgrade the development and production of our own Active Pharmaceutical Ingredients. This method can be scalable to potentially reach an affordable and environmentally friendly production of the NCE Triptax™ under Good Manufacturing Practices compliance, as is required by the pharmaceutical industry. Through this optimized process, the DMT crystals obtained could be used as an API or as a chemical precursor of the Company’s novel formulations to potentially treat a wide range of neurological disorders such as depression, treatment resistant depression and major depressive disorder. The reduction of production costs by this method while increasing the levels of purity and yield, aligns with one of the Company’s core principal of developing of affordable and accessible new pharmaceuticals,” said Alejandro Antalich, CEO of Biomind Labs.
“With this method, our procedures align to FDA requirements, which is imperative in advancing commercial clinical trials aimed at registering novel pharmaceuticals. Several features have been explored and analyzed, from a variety of organic solvents, incubation periods, to stirring and temperature conditions, among others, to finally improve the production of DMT in terms of purity and yield, which results in lower production costs,” said Paola Díaz Dellavalle, CSO of Biomind Labs.
