Biomind Labs Inc. announced that it has commenced dose administration of the first subject in a Phase I/IIa clinical trial of the Company's novel drug candidate BMND01, for treatment-resistant depression with inhaled administration. The Phase I/IIa clinical trial on Biomind's first innovative formulation of N,N-Dimethyltryptamine (“DMT”) is evaluating the safety, pharmacokinetics, behavioral and brain effects of BMND01, for inhaled administration. The trial has commenced on time and as scheduled and is being administered by superior medical practices at Biomind's new clinical psychedelic research facility in the University Hospital Onofre Lopes.

Led by Dr. Dráulio Araújo, Biomind's Scientific and Clinical advisor, the team is a renowned group of scientists that conducted the first randomized placebo-controlled trial with ayahuasca for treatment-resistant depression.