Bright Minds Biosciences Provides Scientific Update

Lead program, BMB-101, advances to IND-enabling toxicology studies with the aim of commencing human trials in 1H 2022

VANCOUVER, British Columbia, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Bright Minds Biosciences (“Bright Minds,” “BMB” or the “Company”) (CSE: DRUG) (OTCQB: BMBIF), a biotechnology company focused on developing novel drugs for targeted treatment of neuropsychiatric disorders, epilepsy and pain, today provided an update of significant scientific developments.

Bright Minds is focused on advancing its promising lineup of best-in-class serotonergic (“5-HT”) drug candidates that target the 5-HT_2C, 5-HT_2A/C, and 5-HT_2A receptors, eliminating the toxicity associated with 5-HT_2B. Leveraging the extensive drug discovery experience of the Bright Minds team, the Company aims to use its proprietary next-generation serotonin agonists to target abnormalities in neurocircuitry that lead to dysfunctional behaviors, while providing improved efficacy, safety and tolerability.

Recent Scientific Developments:

• Established collaborative agreements with the National Institutes of Health for two programs: (1) preclinical screening program for chronic pain indications; and (2) the treatment of epilepsy.
  
  
• Expanded scientific and leadership capabilities with the additions of Dr. Emer Leahy to the Board of Directors; Krista Lanctot, Ph.D., to the Company’s Scientific Advisory team; Jianmin Duan, Ph.D., as Vice President of Pharmacology; and Thomas Grizzle, as Vice President of Toxicology.
  

“Over the past few months, we have dramatically improved BMB’s competitive position with our therapeutic categories, as well as our broader capital markets strategy,” stated Ian McDonald, CEO of Bright Minds. Mr. McDonald continued, “With regard to our R&D developments, we continue to make significant progress in advancing our pipeline of novel transformative psychedelic drug candidates that improve on existing compounds and address significant unmet clinical needs in mental health, impulsivity and central nervous system disorders. Our compounds are in the late preclinical stage and have demonstrated compelling data in well-accepted animal models for Dravet syndrome, a rare childhood form of epilepsy, opioid withdrawal, binge eating disorder, and Alzheimer’s disease psychosis. Looking ahead, we plan to initiate our first-in-human trial of BMB-101 early next year to investigate the possible use of this novel, patented drug to treat Dravet Syndrome.”