MINDCURE Partners its iSTRYM Technology with LUCID to Discover and Create Proprietary Music Experiences for Use During Psychedelic-Assisted Therapy Sessions
LUCID’s technology platform unites music, AI and research in neuroscience to create personalized digital music therapy managed in real-time by therapists based on patient feedback
VANCOUVER, BC, Apr. 21, 2021 - Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) ("MINDCURE" or the "Company") a leader in advanced proprietary technology for psychedelic therapy, is pleased to announce a partnership with LUCID Inc. (“LUCID”). LUCID’s mission is to help people optimize their mental wellness through music, and they will be designing custom psychedelic music experiences for iSTRYM.
After announcing its data partnership with Speak Ai last week, MINDCURE continues to integrate world-class technologies into and create proprietary experiences within iSTRYM, its psychedelics digital therapeutics platform. LUCID’s platform is a key differentiator for iSTRYM as therapists and patients seek out scientifically validated tools to enhance the effectiveness of psychedelic-assisted therapies. It will enable the therapist to alter the music within a therapy session based on real-time feedback and data collected from the patient, all within iSTRYM.
“We look forward to working with MINDCURE’s team and bringing our expertise to psychedelic-assisted therapies,” said Zach McMahon, LUCID CEO and Co-Founder. “Our team will be researching and taking into consideration the therapeutic targets and mechanisms of action associated with each psychedelic while leveraging our machine learning systems to optimize the music experiences in iSTRYM for personalization and efficacy.”
Music has been shown to be effective as a stress and anxiety management tool and also has shown efficacy for diverse outcomes, including chronic and acute pain. Listening to music evokes a wide range of emotions, and because of this, music listening has been a component of several psychological interventions in the area of anxiety and depression, such as post-traumatic stress disorder., With this integration, therapists will have access to music designed for psychedelic-assisted therapies and specific psychedelic compounds that is changing in real-time based on patient feedback, AI and collected data to deepen or alter the experience.
“We are building first-of-its-kind functionality by pairing AI-driven music scapes with a therapist’s art of directing the experience for patients in psychedelic-assisted therapy sessions,” said Kelsey Ramsden, MINDCURE President and CEO. “Integrating LUCID will further enhance iSTRYM’s capabilities and its potential as the validated backbone of the roll-out of psychedelic therapy and trusted wingman for therapists and patients who want a digital therapeutic partner that allows for quantified medicine with personalization at scale.”
“Music interventions have well-indicated positive effects on anxiety and depression, and are frequently used alongside psychedelic therapies. We recently concluded a randomized controlled trial of LUCID’s personalized music technology and found it to be more effective than comparator technologies in alleviating symptoms of anxiety in adults diagnosed with moderate trait anxiety. We plan to continue building this body of evidence in diverse use-cases, including as an adjunct to psychedelic therapy,” said Dr. Frank Russo, Professor of Psychology and Director of the SMART Lab at Ryerson University.
LUCID’s core technology is based on the use of quantitative measurement of mood and physiological state, coupled with robust personalization techniques made possible by machine learning, to optimize music interventions for specific cognitive outcomes. Using psychometric and biometric measurement to determine the user’s current mental state and machine learning agents, LUCID systems adaptively predict the optimal musical sequence to help an individual reach their desired state.
These tools are further leveraged to intelligently compose, produce, and remix music with the highest possible therapeutic potential for precise outcomes. In addition to the music, LUCID employs a novel method to seamlessly integrate auditory beat stimulation (including binaural beats) within the fabric of the music for additional benefit.
About LUCID Inc. (LUCID):
LUCID's mission is to transform the mental health industry by unlocking the potential of music therapy through innovative AI technology. LUCID emphasizes non-invasive and accessible tools to help people with their mental health, by providing evidence-based and scientifically-validated personalized music therapies based on real-time mood assessment. With patented technology and a clinical research pipeline, LUCID is committed to scientifically validating music as medicine.
LUCID's partners and collaborators include Mitacs, the Ontario Brain Institute, Ontario Centres of Excellence, Next Canada, MaRS, and Ryerson University. LUCID's advisors include Dr. Rébecca Kleinberger from MIT Media Lab, CAMH's Chief of General and Health Systems Psychiatry Dr. Farooq Naeem, Ryerson SMART Lab's Dr. Frank Russo, and Dr. Sageev Oore of Dalhousie's Vector Institute of AI.
The Company also announces it has granted a total of 610,000 stock options to certain employees or consultants pursuant to the terms the Company’s incentive stock option plan (“Plan”). The stock options are exercisable at a price of $0.60 per share and subject to the terms of the Plan.
About Mind Cure Health (MINDCURE) Inc.
MINDCURE exists as a response to the current mental health crisis and urgent calls for effective treatments. MINDCURE believes in the need to reinvent the mental health care model for patients and practitioners to allow psychedelics to advance into common and accepted care.
MINDCURE is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. MINDCURE is interested in exploring diverse therapeutic areas beyond psychiatry, including digital therapeutics, neuro-supports, and psychedelics, all to improve mental health.
On Behalf of the Board of Directors
Kelsey Ramsden, President & CEO
Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: LUCID creating proprietary music experiences for MINDCURE; music enhancing a patient’s experience during psychedelic-assisted therapy sessions; and that this integration further enhancing iSTRYM’s capabilities and its potential as the validated backbone of psychedelic therapy.
Forward-looking information is based on a number of key expectations and assumptions made by MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE’s business; there will be a demand for MINDCURE’s products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that the functional mushroom industry will continue to grow; LUCID will develop custom psychedelic music experiences for MINDCURE; music will help therapists using iSTRYM as well as patients during psychedelic-assisted therapy sessions; iSTRYM will become the validated backbone of psychedelic therapy; and MINDCURE will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what MINDCURE believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.
Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the impacts of the COVID-19 pandemic on the Canadian economy, MINDCURE’s industry and MINDCURE’s business, which may negatively impact, and may continue to negatively impact, MINDCURE and may materially adversely affect MINDCURE’s investments, results of operations, financial condition, and MINDCURE’s ability to obtain additional equity or debt financing, and satisfy its financial obligations; general economic conditions; future growth potential; competition for mental health and wellness investments; LUCID may not develop custom psychedelic music experiences for MINDCURE; music may not help therapists using iSTRYM as well as patients during psychedelic-assisted therapy sessions; iSTRYM may not become the validated backbone of psychedelic therapy; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. Additional information on the risk factors that could affect MINDCURE can be found under “Risk Factors” in MINDCURE’s final prospectus which is available on SEDAR at www.sedar.com.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to MINDCURE. The forward-looking information is stated as of the date of this news release and MINDCURE assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Mind Cure Health Inc.
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Jonathan L. Robinson CFA
Oak Hill Financial Inc.
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Disclosure: Mind Cure is a client of Psychedelic Stock Watch