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Vancouver, British Columbia--(Newsfile Corp. - February 24, 2021) - NeonMind Biosciences Inc. (CSE: NEON) (FFE: 6UF) ("NeonMind"), announces that it has purchased an antecedent adjustment of GMP brand psilocybin from Psygen Labs Inc. ("Psygen") for its planned appearance 2 animal analytic balloon accepted to activate in Canada after this year.

NeonMind Purchases GMP Brand Constructed Psilocybin from Psygen Labs for Appearance 2 Animal Analytic Trial

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Psygen is a Calgary-based aggregation specializing in the constructed accomplish of consciousness-expanding medicines. The aggregation provides non-exclusive admission to consciousness-expanding biologic articles for analytic research, ameliorative applications and is a arch supplier for the arising bartering market.

"NeonMind is focused attentively on administering avant-garde assay in the basic accessible bloom acreage of weight accident and obesity, and we attending advanced to a rigorous, safe analytic balloon as the abutting step," said Rob Tessarolo, President & CEO of NeonMind Biosciences Inc. "The COVID-19 communicable has acutely accent the existential accident and austere bloom threats airish by obesity, a forerunner for a ambit of basal conditions. Clearly added abstraction is bare to advance new able strategies, and we aim to be on the beginning of this."

The acquirement is fabricated pursuant to a belted actuality accumulation acceding amid Psygen and NeonMind entered into on September 28, 2020. Aftermost year NeonMind accustomed accumulation beneath the acceding of non-GMP constructed psilocybin for its preclinical balloon which commenced aftermost November. Now, with able antecedent after-effects from its preclinical trial, NeonMind has purchased the GMP brand constructed psilocybin so it can move advanced with an appliance to Bloom Canada for a appearance 2 animal analytic trial.

The GMP brand constructed psilocybin was bogus through Psygen's accord with Activated Biologic Innovation ("API") and a accountant banker at the University of Alberta. All the approaching actual will be bogus at Psygen's -to-be completed bartering adeptness in Calgary. NeonMind may not acquire commitment of the psilocybin until it has accustomed allotment from Bloom Canada.

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NeonMind filed a conditional apparent appliance in the US, after adapted to a PCT apparent application, for ameliorative administering of psilocybin abandoned or in aggregate with psychotherapy. The apparent focuses on psilocybin's abeyant bloom allowances for acceptable weight loss, diet alterations, abbreviation aliment cravings, abbreviating aliment intake, and accompanying bloom complications. NeonMind affairs to abstraction the use of psilocybin abandoned and in aggregate with psychotherapy as a assay for obesity.

"Psygen is committed to acknowledging the acknowledged accumulation alternation for dispensary assay on biologic substances and added bound biologic products," said Danny Motyka, CEO of Psygen Labs Inc. "This latest advertisement from NeonMind is addition archetype of how our lab enables important accurate analytic assay to move advanced admitting authoritative hurdles. Psygen continues to aggrandize a bartering accomplishment amplitude as a baton in the accretion consciousness-expanding anesthetic market."

An Allied Bazaar Assay abstraction begin the weight accident and weight administration diet bazaar was projected to adeptness $295.3 billion by 2027 accretion by over 10 percent annually from 2021 to 2027. The bazaar is accepted to adeptness $92.6 billion in China by 2027.

A Harvard School of Accessible Bloom abstraction adumbrated that 500 actor adults globally are obese. The abstraction begin that by 2030 bisected of US men and women could be obese. The World Bloom Organization estimates that by 2025, 2.7 billion adults will be ample and 1 billion will be afflicted by obesity.

About Psygen Labs Inc.

Psygen Labs Inc. is a Calgary-based aggregation specializing in the constructed accomplish of consciousness-expanding medicines. The aggregation provides non-exclusive admission to consciousness-expanding biologic articles for analytic research, ameliorative applications and is a arch supplier for the arising bartering market.

Psygen has affianced with Activated Biologic Innovation (API), a non-profit CRO affianced with the University of Alberta which allows them for the manufacture, sale, import, export, and assay of psilocybin, MDMA, DMT, LSD, 2C-B, and mescaline. Psygen has activated to Bloom Canada for a accumulated Dealer's License which will acquiesce them to manufacture, possess, sell, import, consign and assay consciousness-expanding substances. The aggregation is actively developing and amalgam their 6000sq/ft lab able of all-embracing amalgam and administration of the consciousness-expanding compounds mentioned above. Psygen is the baton in consciousness-expanding accumulation alternation solutions and is committed to acknowledging the assay renaissance in the analytic assay of a advanced array of brainy bloom issues.

About NeonMind Biosciences Inc.

NeonMind is affianced in assay and development of articles that use alleviative and consciousness-expanding mushrooms to optimize animal bloom and performance. NeonMind has two divisions, a customer articles analysis with a focus on alleviative augment alloyed products, and a biologic analysis affianced in biologic development of consciousness-expanding compounds. NeonMind's customer analysis currently sells 4 NeonMind branded coffee articles in Canada through NeonMind's absolute to customer eCommerce platform. In its biologic division, NeonMind's aboriginal biologic applicant involves psilocybin (a circuitous amoebic admixture begin in consciousness-expanding mushrooms) as a assay for blubber and accompanying illnesses for which NeonMind is administering a preclinical balloon at the University of British Columbia. NeonMind's bookish acreage includes methods of acceptable in weight loss, alleviative besetting bistro disorder, alleviative blubber and complications of blubber by administering psilocybin or added consciousness-expanding compounds.

NeonMind's aggregation includes experts in obesity, psychiatry, psychology, neuroscience, and bookish acreage and admiral with acquaintance from arch customer artefact and biologic companies. Jeff B. Smith, one of NeonMind's directors, brings added than 20 years of experience, including controlling roles such as Aggregation Group Chairman, at Johnson and Johnson Customer Companies. Rob Tessarolo, NeonMind's President and CEO, has 25 years of acquaintance in the biologic industry and has acted as Chief Controlling Officer in several biologic development companies, including Cipher Pharmaceuticals Inc. and Mind Anesthetic (Mindmed) Inc. Trevor Millar, NeonMind's Chief Consciousness-expanding Officer, was aforetime the Chair of MAPS Canada and has all-encompassing acquaintance in the assay of actuality corruption ataxia application consciousness-expanding substances.

For added advice on NeonMind, go to www.NeonMindBiosciences.com or buy NeonMind augment alloyed coffee at www.NeonMind.com.

Rob Tessarolo, President & Chief Controlling Officer, NeonMind Biosciences Inc.rob@neonmind.comTel: 416-750-3101

Investor Relations:Edge Communicationsinvest@neonmind.comTel: 1-866-318-6874

Renmark Financial Communications Inc.Melanie Barbeaumbarbeau@renmarkfinancial.comTel: 416-644-2020 or 212-812-7680

Media Inquiries:Exvera Communications Inc.brittany@exvera.com

The Canadian Balance Exchange has not reviewed, accustomed or banned the capacity of this account release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements independent in this columnist absolution aggregate advanced information. These statements chronicle to approaching contest or NeonMind's approaching performance. The use of any of the words "could", "expect", "believe", "will", "projected","estimated" and agnate expressions and statements apropos to affairs that are not actual facts are advised to analyze advanced advice and are based on NeonMind's accepted acceptance or assumptions as to the aftereffect and timing of such approaching events. Actual approaching after-effects may alter materially. In particular, NeonMind's biologic development plans, its adeptness to absorb key personnel, and its apprehension as to the development of its bookish acreage and added accomplish in its preclinical and analytic biologic development aggregate advanced information. Actual after-effects and developments may alter materially from those advised by advanced information. Readers are cautioned not to abode disproportionate assurance on advanced information. The statements fabricated in this columnist absolution are fabricated as of the date hereof. NeonMind disclaims any ambition or obligation to about amend or alter any advanced information, whether as a aftereffect of new information, approaching contest or otherwise, except as may be especially appropriate by applicative balance laws.

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