ATLANTA, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Fears of inflation and higher interest rates sent the NASDAQ Composite and Russell 2000 lower the past few weeks as many investors ran for cover. Almost as if on command, the same market pundits who were bullish prior to the correction suddenly voiced public concern about the valuations on psychedelic stocks. What they fail to remember is, growth stocks, like those in the psychedelic sector, are almost always considered overpriced by traditional analysis.
In another vote of confidence for the industry, the Department of Psychiatry at New York University’s Langone Health announced plans to establish a Center for Psychedelic Medicine, a hallucinatory hub that will support research on treating addiction, chronic pain, opioid addiction and “existential distress.” The new facility is backed by $10 million from donors, including Dr. Bronner’s soaps and MindMed. NYU has the foresight to see longer-term in the industry than a market correction. Psychedelic-assisted psychotherapy could provide needed options for debilitating mental-health disorders including PTSD, major depressive disorder, alcohol-use disorder, anorexia nervosa and more that kill thousands every year in the United States, and cost billions worldwide in lost productivity.
OTC Stock Review introduced a large number of investors to the psychedelic sector with an article on Seeking Alpha March 6, 2020 titled "Psychedelic Medicine Stocks Capture the Attention of Investors." Even though several of today’s market leaders were not public last March, since then several of the stocks covered in the article have made five and ten fold moves. Almost a year later we are still focusing on psychedelic stocks and the potential treatments for depression and improving mental health.
Companies like Mind Medicine (MindMed) Inc. (OTCQB: MMEDF), Ehave, Inc. (OTC Pink: EHVVF), COMPASS Pathways plc (NASDAQ:CMPS), and Mydecine Innovations Group (OTC: MYCOF) have significant prospects for future growth.
MindMed (OTCQB: MMEDF) is a neuro-pharmaceutical company that has initiated clinical studies to evaluate potential treatments to help patients with ADHD, anxiety, and substance abuse. MindMed also offers the broadest and most diversified pipeline of psychedelic drugs in clinical development and R&D, and estimates there is a $100+ billion global total addressable market for psychedelics. On February 18, 2021 MindMed announced that it will acquire HealthMode, a digital medicine and therapeutics startup that uses Artificial Intelligence (AI)-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. MindMed will acquire HealthMode through the issuance of 82,508 multiple voting shares of MindMed valued at CAD $41,254,180 approximately CAD $300,000 in cash.
With the acquisition, MindMed gains access to HealthMode's Intellectual Property, platforms for clinical drug trials, and its entire twenty-four person digital medicine team. MindMed will incorporate HealthMode's machine learning (ML) engineering, product development, and operations employees based in Silicon Valley, New York City, Bratislava and Prague into MindMed's newly established digital medicine division, Albert. MindMed intends to establish Albert as an industry leading full stack digital mental health platform, capable of launching and commercializing psychedelic-assisted therapies and medicines at scale for patients. Through the HealthMode acquisition, MindMed will add pharmaceutical veteran Daniel R. Karlin M.D. M.A. and AI/ML expert Bradford Cross to the MindMed executive team. You can find more information on MindMed at https://mindmed.co.
Ehave, Inc. (OTC: EHVVF) Ehave, Inc. (OTC: EHVVF) has had two impressive announcements in the past month regarding partnerships. Ehave Inc. And Brain Scientific agreed to a psychedelic partnership by signing a Memorandum of Understanding to map brain response to psychedelic treatment. The two companies plan to collaborate to develop neural net algorithms for the psychedelic mental health sector using Brain Scientific’s E-Tattoo technology to provide continuous monitoring. Prior to this announcement, Ehave announced it is exploring how palliative patients could benefit from its Ketamine home delivery platform, KetaDASH.
Ehave recently sold its Mycotopia Therapies subsidiary to 20/20 Global. As a result of the sale, Ehave controls approximately 75.77% of the outstanding shares of 20/20 Global and has plans to distribute some of the shares to its shareholders. 20/20 Global recently announced it is changing its name to Mycotopia Therapies and has requested its symbol be changed to MYCO. Mycotopia Therapies launched a global subsidiary, PsyBioMed, which will be involved in the manufacturing, licensing and worldwide sale of genetically optimized yeast to produce psychedelics. These biosynthetic compounds are expected to be pharmaceutically pure and 100% identical to Psychedelics strains found in nature at a fraction of the cost of cultivated plant material, making them promising contenders to replace synthetic and plant-extracted analogs.
Ehave (EHVVF) is not only building an integrated technical platform for PsyBioMed, it owns 75.77% of 20/20 Global/Mycotopia, which has a market cap of $91.4 million. Ehave has specialized in digital therapeutics services for years. It plans to utilize its expertise to enable real time information in clinical trials, while providing a clearer understanding of the impact on patient outcomes. Ehave has filed to list on the OTCQB and Canadian Securities Exchange (CSE). You can find more information on Ehave at www.ehave.com.
COMPASS Pathways plc (NASDAQ:CMPS) is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health. COMPASS Pathways is pioneering the development of a new model of psilocybin therapy, in which its proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support. COMP360 has been designated a Breakthrough Therapy by the US Food and Drug Administration for treatment-resistant depression. The Company is currently conducting a phase IIb clinical trial of psilocybin therapy for TRD in 22 sites across Europe and North America. On September 18, 2020 Compass came public at $17.00 per share and has traded as high as $61.69, after an $80 million private financing round. The private round included PayPal co-founder, Peter Thiel.
COMPASS Pathways was the subject of a February 15, 2021 article in the Philadelphia Inquirer titled "Envisioning a psychedelic future for Philadelphia’s USciences as it pairs with Compass Pathways for a Drug Discovery Center." The article by Sam Wood discusses recent research partnerships between Compass Pathways and several universities. Jason Wallach, who is leading a network of national researchers at University of the Sciences, received $500,000 from Compass Pathways to launch a Drug Discovery Center to investigate “new serotonergic compounds.” These substances work on a specific neuroreceptor in the brain, 5-HT2A, and include the active ingredients in psilocybin, DMT, mescaline, ibogaine and LSD. University of the Sciences is a leading science college and a top pharmacy school in Philadelphia, PA. This comes on the heels of Compass Pathways announcing it plans to expand its research projects at the University of California, San Diego and the Medical College of Wisconsin, which are also affiliated with Mr. Wallach. You can find more information on COMPASS Pathways plc at www.compasspathways.com.
Mydecine Innovations Group (OTC: MYCOF), an emerging biopharma and life sciences company, announced an exclusive partnership with Applied Pharmaceutical Innovation (API) at the University of Alberta to expand its capabilities and support of multiple drug development and clinical trial programs. As a result of Mydecine's expanded relationship with API, Rob Roscow, Chief Scientific Officer and Co-founder of Mydecine said the Company would be able to synthesize multiple molecules concurrently as well as run research and development and pre-clinical on site. Mr. Roscow also said this would provide Mydecine the ability to accelerate both natural product research and novel drug design, specifically in the field of serotonin psychedelics. Through this partnership the company currently has the ability to legally cultivate, extract, import, export and commercialize full cGMP pharmaceutical grade natural and synthetic compounds to reciprocal licensed facilities globally.
Mydecine, through its Mindleap Health subsidiary, is a virtual healthcare company that offers technology solutions that allow people to improve their mental health and wellbeing. Mydecine recently announced its telemedicine subsidiary Mindleap Health filed a provisional patent for its technology platform in both The United States Patent and Trademark Office (USPTO) and the Canadian Intellectual Property Office. Mindleap’s remote telemedicine platform provides mental health coaching through its international network of mental health specialists. The platform also combines mood, emotion and habit tracking that allows users to purchase and receive virtual mental health coaching from an international network of specialists, as well as mental health tracking and analytics. You can find more information on Mydecine at www.mydecine.com.
One to Watch
Life Clips, Inc. announced Wednesday it entered into a letter of intent to acquire Cognitive Apps Software Solutions Inc. (Cognitive apps), a developer of artificial intelligence (AI) applications for the healthcare industry and psychedelic research that uses speech-based technology to identify at risk groups before the onset of clinically significant symptoms. Life Clips shares rose above $0.01 and traded an impressive 485 million shares for the day on the news. Cognitive Apps provides an AI powered mental health analytics platform empowering businesses to measure, understand, and improve mental well-being of their employees, patients or customers with easy to use tools. The Cognitive Apps assessment is fast and easy to administer, and the patient only needs to record their voice on a handset, iPad, or tablet. The Cognitive Apps assessment is designed to be administered as often as monthly, in order to provide a more granular picture of changes in mental health over time. As a result, the Cognitive apps assessment can be routinely completed to monitor mental health and track variables that might be impacted by treatment.
Dr. Manideep Gopishetty, CEO and Co-founder of Cognitive Apps, said, "Our advanced voice recognition AI technology diagnostic core can identify various mental health disorders. This is especially beneficial in the corporate environment in order to ascertain corporate employees’ mental wellness and to provide personalized remote mental health care." Dr. Gopishetty continued, "Our technology can also be beneficial in clinical intelligence diagnostic and monitoring solutions for hospitals and clinics. Our goal is to use advanced AI based technology to disrupt industries such as healthcare, mental health, and both clinical and academic psychedelic research."
With the acquisition, Life Clips gains access to Cognitive Apps' intellectual property, including AI enabled speech-based technology, and its research and development team. Life Clips will further develop Cognitive Apps' technology for use in the development and testing of psychedelics for the treatment of various mental health disorders. Cognitive Apps delivers a comprehensive approach to well-being, supporting the whole person. Cognitive apps currently has partnerships with Ehave, Mycotopia, Biomedican, Welmind EMR, Betterhelp, Belshare, and Movefit.
DISCLAIMER: OTC Stock Review (OTCSR), which owns and operates OTCStockReview.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. OTCSR is NOT affiliated in any manner with any company mentioned herein. OTCSR and its affiliated companies is a news dissemination solutions provider and are not a registered broker/dealer/analyst/adviser. OTCSR holds no investment licenses and may not sell, offer to sell or offer to buy any security. OTCSR's market updates, news alerts and corporate profiles are not a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is never to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. OTCSR is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed OTCSR was compensated two thousand dollars for news coverage of current press releases issued by Ehave, Inc. by a non-affiliated third party. OTCSR AND ITS AFFILIATES DO NOT HOLD ANY SHARES OF THE COMPANIES NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and OTCSR undertakes no obligation to update such statements.
Contact Information:
David Kugelman
(404) 856-9157 Office
(866) 692-6847 Toll Free - U.S. & Canada
dk@otcstockreview.com
https://www.linkedin.com/in/davidkugelman