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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  Better Plant Sciences Inc.    PLNT   CA0877371025

BETTER PLANT SCIENCES INC.

(PLNT)
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These Psychedelic Drugs May Be Key to Revolutionizing Weight Loss Treatment

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06/19/2020 | 08:40am EDT

Houston, Texas--(Newsfile Corp. - June 19, 2020) - The global obesity epidemic is only growing in size.

"New federal data show that the obesity rate in the U.S. has hit 42.4%, up from 30.5% in 1999-2000," according to The Wall Street Journal. Worse, according to the World Health Organization (WHO) obesity has tripled in size over the last 50 years.

By 2030, almost half of U.S. adults will be considered obese.

Unfortunately, with obesity comes issues such as heart disease, stroke, type 2 diabetes, and several types of cancer. Even worse, according to Energy Balance and Obesity: What are the Main Drivers? "There is convincing evidence for a role of obesity as a causal factor for many types of cancer including colorectum, endometrium, kidney, oesophagus, postmenopausal breast, gallbladder, pancreas, gastric cardia, liver, ovary, thyroid, meningioma, multiple myeloma, and prostate cancers."

However, a solution may be found in psychedelics such as DMT and psilocybin, both of which activate serotonin receptors, or "nature's own appetite suppressant," as noted by Psychology Today. "This powerful brain chemical curbs cravings and shuts off appetite. It makes you feel satisfied even if your stomach is not full. The result is eating less and losing weight."

Psychedelics, Like DMT Could Help Treat Eating Disorders

The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) announced that its majority owned subsidiary NeonMind has filed an additional provisional patent application related to using psychedelics as medicine. The most recent patent application, filed on June 17, 2020 covers the administration of DMT to treat compulsive eating disorder and other illnesses.

DMT, or N,N-Dimethyltryptamine, is a derivative and structural analog of tryptamine, known for its hallucinogenic properties. It currently has no approved medical use, though DMT-containing plants are commonly used in indigenous Amazonian shamanic practice, and are sometimes found in the drink ayahuasca. DMT is found naturally in several plants including Mimosa tenuiflora, Diplopterys cabrerana, and Psychotria viridis. It is structurally similar to psilocin and its precursor psilocybin, a chemical found in so-called "magic mushrooms."

"DMT is a very interesting molecule that acts on the same type of serotonin receptors which are known to regulate appetite," says Dr. William Panenka, Chair of the NeonMind Scientific Advisory Board. "As part of our overall patent strategy, we are establishing defensible intellectual property around multiple compounds that act on these receptors and intend to follow this with rigorous clinical trial work to establish efficacy."

Psilocybin May be Key to Treating Obesity

NeonMind also filed a U.S. provisional patent application in the U.S. for the invention relating to therapeutic administration of psilocybin or psilocin, combined with supportive therapeutic treatment for a patient to provide weight loss benefits and treatment for related health issues.

The provisional patent is for a proposed guided psychedelic psilocybin therapy protocol using psychotherapy prior to, during and after the psychoactive effects of the Psilocybin are felt by the patient. The psychedelic assisted psychotherapy is designed to assist in gaining insights from positive psychedelic experiences, to be integrated into everyday life and to help plan, prepare and make sense of psychedelic experiences for a therapeutic result.

In addition, NeonMind has retained contract research organization Translational Life Sciences Inc. to design and plan an initial preclinical study using psilocybin which is anticipated to begin in the fall of 2020. The preclinical study is anticipated to provide data to design phase 2 human clinical trials to test Psilocybin as a weight loss treatment. The phase 2 clinical trials are anticipated to begin in 2021, subject to receiving all required regulatory approvals.

For more information, visit the company's website at https://yieldgrowth.com.

About MarijuanaStox

MarijuanaStox.com is a leading web destination for all cannabis related companies. Investors can also find current marijuana-related quality financial, medical, legal and social news. MarijuanaStox.com is a media agency in North America dedicated to the cannabis industry, helping companies that operate in the space to attract quality investors, working capital and real publicity. Since 2005, we have had public companies in the US and Canada have rely on us to grow and succeed.

Legal Disclaimer

Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media which has a partnership with www.MarijuanaStox.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.

For making specific investment decisions, readers should seek their own advice. Winning Media, which has a partnership with www.MarijuanaStox.com, is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media (partners of MarijuanaStox.com) and The Yield Growth Corp, Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for The Yield Growth Corp. We own ZERO shares of The Yield Growth Corp. Please click here for full disclaimer.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58207


© Newsfilecorp 2020
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Financials
Sales 2019 4,02 M 3,02 M 3,02 M
Net income 2019 -16,0 M -12,0 M -12,0 M
Net cash 2019 0,54 M 0,41 M 0,41 M
P/E ratio 2019 -1,43x
Yield 2019 -
Capitalization 12,0 M 9,10 M 9,01 M
EV / Sales 2018 -
EV / Sales 2019 6,43x
Nbr of Employees 19
Free-Float 71,1%
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Mean consensus BUY
Number of Analysts 1
Average target price 0,45 CAD
Last Close Price 0,08 CAD
Spread / Highest target 463%
Spread / Average Target 463%
Spread / Lowest Target 463%
Managers
NameTitle
Penny White President, Chief Executive Officer & Director
Tamara Melck Chief Operating Officer
Yu Cai Huang Chief Financial Officer
Spiros Margaris Independent Director
Cole Drezdoff Director
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