With its minimum viable product (MVP) release on schedule and on budget, MINDCURE will work with its clinical partners to refine the application before full commercial deployment in Q1 2022.
VANCOUVER, BC, Aug. 26, 2021 /PRNewswire/ - Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) ("MINDCURE" or the "Company"), a leader in advanced proprietary technology and research for psychedelics, is pleased today to announce the release of the minimum viable product version of iSTRYM, its digital therapeutics platform (DTx) for psychedelics, into partner clinics across North America.
The Company will begin full commercial deployment to all clinics in Q1 of 2022. MINDCURE plans initially to target psychedelic clinics and to then expand to integrated clinics, both traditional and psychedelic, and eventually to the broader mental health market. The Company forecasts 150 clinics in Canada, the US, and Europe utilizing iSTRYM by Q4 2022.
"MINDCURE created iSTRYM with the goal of unlocking value for researchers, therapists, and ultimately patients in need," said Dr. John Brownstein. "I believe there's a real opportunity to improve mental health treatments through a better understanding of patient and research data, and that this platform can be a valuable resource for the entire psychedelics industry."
Earlier this year, the Company appointed Dr. John Brownstein, the Chief Innovation Officer at Boston Children's Hospital, as a Company Advisor. Dr. Brownstein has been granted stock options for serving as an Advisor to MINDCURE. An esteemed epidemiologist and professor at Harvard Medical School, Dr. Brownstein has been advising on MINDCURE's digital therapeutics technology, patient data security, and data optimization.
"Digital Therapeutics is a key part of our value creation strategy, affording us near term revenue opportunities and the capacity to globalize our footprint across every psychedelic molecule in locations where they are being administered in care legally," said Kelsey Ramsden, President & CEO, MINDCURE. "These new psychedelic medicines demand new models, and technology-enabled care that uses AI and scientific rigour have an important and valuable role to play. Having methodically built a world-class team and built this platform from the ground up to serve psychedelics and scale beyond, I am excited to share the MVP version with our strategic partners within the psychedelics industry."
Developing the distribution network of content and care protocols for psychedelic drugs will allow MINDCURE to create value at all levels of the value chain: client, clinic, protocol developer, and drug developer.
In line with the Company's focus on its digital technology and research and development activities, the Company has discontinued the development of its nootropics line of products. "As our organization has grown and our bi-divisional technology and drug research strategy have been refined, we need to focus entirely on what we do best – creating advanced and proprietary technology for and drug research in psychedelics," said Kelsey Ramsden.
In other news, MINDCURE has retained KCSA Strategic Communications ("KCSA"), a leading New York City-based integrated communications firm, to provide public relations and investor relations services for a 6-month term beginning August 23, 2021. KCSA will be paid a monthly fee of US$27,000 as consideration for the provision of the services.
iSTRYM is a first-of-its-kind software application that optimizes the healing journey for both patients and clinicians — before, during, and after therapy sessions. By bringing together and building proprietary technological solutions, iSTRYM offers therapists global, evidence-backed treatment protocols, in-session psychedelic-informed tools, customizable dashboards, integration plans, insights into patient journeys, and real-time assessments for personalized client care.
To request a demo or learn more about iSTRYM, please visit istrym.com
About Mind Cure Health Inc.
MINDCURE is a life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health. The company is developing digital therapeutics technology and researching psychedelic compounds to support access to safe, evidence-based psychedelic-assisted therapies globally. Learn more at mindcure.com, and follow us on LinkedIn, Facebook, Twitter, and Instagram.
On Behalf of the Board of Directors
Kelsey Ramsden, President & CEO
Certain information presented in this news release may constitute "forward-looking information" within the meaning of applicable securities laws regarding MINDCURE and its business. Forward-looking information inherently entails known and unknown risks and uncertainties about the future and actual results, performance or achievements contemplated by forward-looking statements made may be materially different from the results anticipated 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.
Forward-looking information is based on a number of key expectations and assumptions made by management of 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 iSTRYM will be developed, optimized and operate as contemplated within the psychedelics industry; that the Company will be effective in obtaining the patents applied for synthesizing ibogaine, or synthesizing ibogaine, or developing synthesized ibogaine for research, medical or commercial use; that MINDCURE will advance wellness worldwide; that iSTRYM will be brought to commercial deployment in the near term or otherwise; or that it will reduce symptoms, improve quality of life, and support transformation and healing, or that the deployment may not occur at the scale or within the time frame contemplated.
Although MINDCURE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking information presented, there may be other factors that cause results, performance or achievements to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements as no forward-looking information can be guaranteed.
Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and MINDCURE does not undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.
SOURCE Mind Cure Health Inc.