MIAMI, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Psycheceutical Bioscience, Inc ("Psycheceutical" or the "Company") (OTC: BWVI), a bioscience company dedicated to developing cutting-edge treatments for mental health, has filed a provisional patent application with the United States Patent and Trademark Office (USPTO) for the first ketamine topical intended for treating post-traumatic stress disorder (PTSD).

The provisional patent application describes ketamine formulations for topical administration and related methods of treating PTSD, utilizing NeuroDirect™ non-systemic drug delivery technology. This delivery system is designed to topically distribute neuro-active compounds to the back of the neck for immediate action on a dense population of brain nerve endings. These novel ketamine formulations, and methods of treatment, are being developed to reduce the side effects caused by prior formulations, such as hallucinations, nausea, lethargy, and toxicity, but more importantly to also reduce pain and symptoms of PTSD.

“PTSD can be a serious mental health disorder, with no known effective therapeutic solutions currently available. Millions of people suffer each year,” said Chad Harman, Chief Executive Officer of Psycheceutical. “But there is new hope. This patent application supports Psycheceutical's ongoing drug development plans for its revolutionary NeuroDirect™ topical delivery system that we believe has the potential to provide new solutions and treatments for PTSD and other mental health conditions.”

PTSD is a common mental health condition affecting hundreds of millions of people worldwide, with symptoms ranging from mild to severe. PTSD is commonly interconnected with other mental health conditions, such as anxiety, depression, and substance abuse disorder. People who suffer from PTSD also have a higher risk of suicide.

“Psycheceutical is driven to provide new hope for this debilitating disorder by employing cutting-edge technologies for the patients who need it most,” said Dr. Julian Bailes, Chief Medical Officer of Psycheceutical. “We look forward to improving current mental health treatments while progressing the capabilities of the psychedelic pharmaceutical category.”

NeuroDirect™ for Non-Systemic Delivery
Psycheceutical’s NeuroDirect™ non-systemic delivery technology is protected by several patents and pending applications, and is designed to deliver neuro-active compounds directly into the nerve tissue via topical application at the back of the neck. This delivery system is intended to enable immediate and sustained delivery, safe dosage control, and consistent results, while avoiding the systemic side effects of psychedelic compounds such as hallucinations, nausea and vomiting. NeuroDirect™ is designed to be administered through telehealth or at home instead of a clinical setting, greatly lowering the cost of care for each patient, ensuring that these life-saving treatments are cheap and available to anyone suffering from mental health disorders or central nervous system diseases.

About Psycheceutical Bioscience, Inc. 
Psycheceutical Bioscience, Inc. is seeking to develop cutting-edge delivery technologies to support and 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 develop, improve and 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