Biomind Labs Provides Corporate Update

Biomind Labs Inc. (“Biomind Labs” or the “Company”) (NEO: BMND) (OTC: BMNDF) (FSE: 3XI), a leading biotech company focused on developing the next generation of pharmaceuticals to treat patients suffering from neurological disorders by targeting the drivers of disease, provides a corporate update outlining its research and development, intellectual property and clinical trials initiatives.

“The fourth quarter of 2023 holds immense significance for Biomind as we prepare to unveil pivotal data from our Phase IIa, double-blind, randomized, placebo-controlled, repeated single dose clinical trial. This data represents a critical milestone in our journey to bring groundbreaking therapies to patients in need. The insights gained from this trial have the potential to reshape the landscape of treatment options in Alzheimer’s disease, a silent and hidden neurological disease that contributes to 60-70% of dementia cases,” said Alejandro Antalich, CEO of Biomind Labs.

BMND01: N,N-dimethyltryptamine (“DMT”) extraction and purification

• A DMT free base extraction process from a natural compound was effectively optimized, enabling the scale-up of production, ensuring high yields and purity while adhering to Good Laboratory Practices (“GLP”). Optimizing the extraction process from a natural source is a crucial step in the development of pharmaceuticals.

BMND01: DMT Inhaled Formulation

• The administration of a DMT free base inhaled formulation was effectively optimized using a vaporizer device, ensuring that the active drug is delivered efficiently to the targeted site within the respiratory system.
• A well-optimized inhalation system allows for precise and consistent dosing. This is especially crucial for medications with a narrow therapeutic window.
• Biomind’s inhaled formulation offers a faster onset of action, accelerating the drug's absorption into the bloodstream, providing quicker relief for patients experiencing acute symptoms.

BMND01: DMT Intramuscular Formulation (“IM”)

• An isotonic DMT fumarate IM formulation was effectively optimized for patients who cannot tolerate oral medications or have difficulty swallowing. For those patients in need, Biomind provides an IM formulation that offers a more accessible and comfortable alternative.

BMND07: 5-methoxy-DMT (“5-MeO-DMT”) free base organic synthesis

• Successful completion of the first 5-MeO-DMT organic synthesis scheme. This significant achievement marks a major breakthrough in the development of a suitable procedure for obtaining 5-MeO-DMT freebase as an Active Pharmaceutical Ingredient (“API”) with exceptionally high purity and pharmaceutical-grade quality.

BMND02: 5-MeO-DMT Nasal Formulation