Press Release: Biomind Labs and Queen’s University of Belfast Receive Controlled Substances License to Commence the Production of a Novel Transdermal Drug Delivery System

TORONTO — 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 and psychiatric disorders by scientifically harnessing the medicinal power of psychedelic molecules, is pleased to announce the receipt of a Controlled Substances License and the commencement of an eight-month project to produce and evaluate novel rapidly-dissolving and sustained-release hydrogel-forming microneedle arrays designed for the transdermal delivery of Biomind’s key psychedelic compounds: N, N-dimethyltryptamine (“DMT”), 5-methoxyN,N-dimethyltryptamine (“5-MeO-DMT”) and mescaline.

“As we continue expanding our operations in the United Kingdom, partnering with Queen’s University of Belfast, a global leader in rapidly-dissolving and sustained-release hydrogel-forming microneedles, can provide us with a first mover advantage in offering a novel drug delivery system where the release can be controlled. Such a disruptive drug delivery approach can go beyond a full psychedelic experience, allowing us to broaden our total addressable market. We could potentially be talking about the next generation treatment for inflammation, pain and neurodegenerative disorders, by way of a comfortable drug delivery solution with a strong emphasis on improving therapeutic outcomes for patients. Our exclusive agreement with Queen’s University of Belfast can strengthen our intellectual property portfolio based on three of our key psychedelic compounds: DMT, 5-MeO-DMT and mescaline,” commented Alejandro Antalich, CEO of Biomind Labs.

The use of polymeric microneedle array patches (“MAPs”) is an attractive way of delivering drugs through the skin. Upon MAP application, microneedles painlessly penetrate the outer layer of the skin, creating temporary microchannels in this highly effective barrier to diffusion, through which enhanced transdermal drug delivery can be achieved. Given the presence of a dense network of blood vessels in the deeper layers of the skin, drugs can be absorbed into the plasmatic circulation and distributed to the entire body, producing a systemic effect. Additional advantages of this technology, such as the avoidance of first-pass metabolism and drug delivery in a rate-controlled or long-acting manner, can serve to reduce the incidence of side-effects and dosing frequency, which in turn may lead to increased treatment adherence.

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