MIAMI, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Psycheceutical Bioscience, Inc.(OTCPK: BWVI) ("Psycheceutical" or the "Company"), a bioscience company dedicated to developing cutting-edge brain delivery technologies for the next generation of mental health treatments, today announced that Dr. Julian Bailes has accepted the role of Chief Medical Officer and will also join the company’s Board of Directors. Bailes will continue to assist in the strategy, direction, and execution of the company’s clinical and technological development of its patented dosing technologies, with the goal of providing the safe and effective delivery of psychedelic pharmaceutical compounds.

"Psycheceutical’s Board believes that given his extensive expertise in both clinical care and research, Dr. Bailes is ideally suited to oversee the company’s medical affairs as we prepare to initiate clinical trials for our novel drug delivery systems later this year,” said Chad Harman, CEO of Psychececutical.

Bailes is an esteemed leader in the fields of neurosurgery and traumatic brain injuries. His expertise in the understanding of CTE was showcased in the 2015 film “Concussion,” starring Will Smith, where Bailes was portrayed by actor Alec Baldwin. He is the Chairman of the Department of Neurosurgery, Co-Director of the Neurological Institute at NorthShore University Health System, and Clinical Professor of Neurosurgery at the University of Chicago Pritzker School of Medicine. Bailes is also a Senior Advisor to the NFL Head, Neck, and Spine Committee and a member of the NFLPA Mackey-White Health and Safety Committee and the Chair of the Medical Advisory Board of Pop Warner Football, Inc.

“I’ve been continually impressed by the assemblage of Psycheceutical’s first-class team, the opportunities they have identified, as well as the progress they’ve made in furthering their brain drug development technology in such a short time,” said Dr. Julian Bailes, Chief Medical Officer of Psycheceutical. “Disease and mental health states such as depression, traumatic brain injury (TBI), chronic traumatic encephalopathy (CTE), post-traumatic stress disorder (PTSD), and anxiety could significantly be improved upon with further advances in brain delivery technology. I decided to further my involvement by joining the Board of Directors to help advance this critical technology as soon as possible to hopefully improve the mental health crisis we’re experiencing around the world.”

As Chief Medical Advisor for Psycheceutical, Bailes will continue his role overseeing the company’s Medical Advisory Board, a team of top medical specialists guiding the research and development of the company’s next-generation dosing and delivery technology. The Medical Advisory Board works in tandem with the company’s scientific team in identifying and reviewing outstanding molecules to bring through the drug discovery and development process to clinical application.

With his addition to the Board of Directors, Bailes will provide strategic focus on advancing the company’s mission to bring its innovative drug delivery technologies to market, ensure the company is adhering to the policies and regulations set forth by the DEA and FDA, and offer guidance on future partnerships and the acquisition of intellectual property.

About Psycheceutical Bioscience, Inc. 
Psycheceutical Bioscience, Inc. is developing cutting-edge technologies to advance the safe and effective delivery of psychedelic pharmaceutical medicines. Powered by a team of FDA drug development veterans, biotechnology experts, and the top minds in the psychedelic space, Psycheceutical is on a mission to commercialize its precision dosing technologies to provide affordable, life-saving treatments to anyone suffering from mental health disorders or central nervous system diseases. Learn more at Psycheceutical.com.

Forward-Looking Statements:
Certain statements in this news release related to the Company constitute "forward-looking information" within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These uncertainties include, but are not limited to, (i) general market growth for and acceptance of psychedelic-inspired medicines, (ii) capital and credit availability and market volatility, (iii) general economic conditions, (iv) governmental approvals and compliance with regulations, (v) product research and development and clinical trial risks, (vi) incorrect underlying assumptions, and (vii) our future business development, results of operations, and financial condition. These statements generally can be identified using forward-looking words such as "will," “may,” “should,” “could,” "intend,” “estimate,” “plan,” "anticipate,” "expect,” “believe,” “potential” or “continue,” or the negative thereof or similar variations. All information provided in this press release is as of the date of this press release, and we undertake no duty to update such information, except as required under applicable law.

Contact:

Kaia Roman, VP, Strategy & Communications
kaia.roman@psycheceutical.com