Mynd Life Sciences Inc. announced positive preclinical data in measuring dosing accuracy in psilocybins and psilocybin analogs. Mynd strives to improve industry standards and promotes innovative research approaches with a strong focus on scientific documentation. The accurate measurement of psychedelic doses is currently not possible.

By identifying the functional molecular pathway that many psychedelics, and psilocybin in particular, stimulate, Mynd has been able to make significant progress. Today, Mynd announces substantial advances in creating a molecular test for calibrating and measuring cellular responses to microdosing with psilocybin. In work carried out under the supervision of Professor Wilf Jefferies in the Michael Smith Laboratories at the University of British Columbia, through a collaborative research agreement with Mynd, the new testing protocol could allow clinicians and other researchers, and companies to monitor and accurately dose psilocybins and psilocybin-containing extracts and compounds.

Mynd considers it highly likely for this to become the standard in the industry. The findings are unique in the industry and methods for quantitating levels of psilocybin and psilocin derivatives that mediate microdosing's effects. Mynd's approach to psychedelic drug research and development is to license a robust and globally patented portfolio of intellectual property with an unwavering focus on accuracy and consistency.

This foundation will enable the Company to differentiate itself within the industry and create safe and effective treatment solutions while building long-term value for shareholders. The Company plans to utilize its Health Canada Section J exemption and $1.2 million research and development investment to rapidly expand its existing research with further preclinical analysis of 38 psilocybin analogs. It is anticipated that this research will lead to commercialization in fourth quarter of 2022.