TORONTO, ON / ACCESSWIRE / November 20, 2024 / Biomind Labs Inc. (" Biomind " or the " Company ") (CBOE:BMND) (OTC PINK:BMNDF) (FRA:3XI) , a leading biotech company at the forefront of next-generation pharmaceuticals addressing the root causes of neurological disorders, is encouraged by the U.S.
government's progressive stance on the psychedelic industry. The administration's decision to nominate a new Health Secretary with a history of supporting innovative mental health solutions marks a pivotal moment for the advancement of psychedelic-based therapies. The Company is optimistic that this policy shift will open new avenues for greater recognition and regulatory support of groundbreaking therapies, including its proprietary drug candidate BMND08 .
In a Phase II clinical trial, BMND08 demonstrated remarkable efficacy, with 100% of participants responding to treatment and achieving remission from depression, anxiety, and stress by the end of the treatment period (week 5). The Company intends to enter in discussions with the U.S.
Food and Drug Administration ("FDA") to pursue Breakthrough Therapy Designation for BMND08, a move that could accelerate the availability of transformative treatments for conditions like early-stage Alzheimer's, depression, and anxiety. Alejandro Antalich, CEO of Biomind Labs, commented: "The nomination of a Health Secretary in the U.S.
who recognizes the transformative potential of psychedelic-based therapies and demonstrates a clear commitment to sup.