Cedar Clinical Research to Host Phase IIb Trial for a Novel PTSD Treatment

TORONTO, ON / ACCESSWIRE / July 8, 2021 / Novamind Inc. (CSE:NM)(OTC PINK:NVMDF)(FSE:HN2) ("Novamind" or the "Company"), a leading mental health company specialized in psychedelic medicine, is pleased to announce that its wholly owned subsidiary, Cedar Clinical Research ("CCR") has been selected as a research site for a clinical trial sponsored by Bionomics Limited ("Bionomics").

The Bionomics study is titled "A phase IIb, randomized, double blind, two arm study to investigate the effects of BNC210 tablet formulation compared to placebo in adults with post-traumatic stress disorder ("PTSD")". Lifetime and past-year prevalence rates of PTSD among American adults are 8.3 percent and 4.7 percent, respectively¹. PTSD is associated with a wide range of problems, including difficulties at work, social dysfunction and physical health problems. In 2019, BNC210 received a Fast Track Designation from the U.S. Food and Drug Administration (FDA), a process designed to facilitate the development, and expedite the review of drugs to treat serious conditions and fill an unmet medical need.

"We look forward to investigating BNC210 as a potential treatment for PTSD, a condition that is in need of new treatment options," said Dr. Reid Robison, Chief Medical Officer of Novamind and Principal Investigator at CCR. "This clinical trial leverages CCR's established track record studying novel treatments for PTSD and other difficult to treat mental health conditions."

CCR is experienced in hosting pediatric and adult phase I-IV clinical trials and investigator-led studies across a wide range of mental health conditions. Sponsors and partners include leading drug developers, academic institutions, and non-profit organizations, such as Merck & Co., the Ketamine Research Foundation and the University of Texas, Austin. Including the study of BNC210, CCR is currently contracted for nine clinical trials and is evaluating a robust pipeline of additional research studies.

To learn more about the Bionomics study, please visit this link.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics, retreats, and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

About Bionomics
Bionomics is a global, clinical stage biopharmaceutical company leveraging its proprietary platform technologies to discover and develop a deep pipeline of best in class, novel drug candidates. Bionomics' lead drug candidate BNC210, currently in development for initiation of a second phase II trial for the treatment of PTSD, is a novel, proprietary negative allosteric modulator of the alpha-7 (α7) nicotinic acetylcholine receptor. Beyond BNC210, Bionomics has a strategic partnership with Merck & Co., Inc (known as MSD outside the United States and Canada). To learn more, please visit bionomics.com.au.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the Company's public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

¹: https://onlinelibrary.wiley.com/doi/abs/10.1002/jts.21848

SOURCE: Novamind Inc.