Nova Mentis Files Patent on Diagnosing, Monitoring and Treating Neurological Diseases with Psychoactive Tryptamine Derivatives

mRNA Diagnostic Index to Measure Drug Treatment Response

Vancouver, British Columbia--(Newsfile Corp. - June 16, 2022) - Nova Mentis Life Science Corp. (CSE: NOVA) (FSE: HN3Q) (OTCQB: NMLSF) ("NOVA" or the "Company"), a biotechnology company and global leader in first-in-class psilocybin-based therapeutics and complementary diagnostics for neuroinflammatory disorders is pleased to announce it is bolstering its IP with the filing of provisional patent applications to protect data it obtained during its psilocybin preclinical studies and provide protection for the Company's therapeutic paradigm for treating neuroinflammatory disorders with psilocybin and psilocybin-based tryptamine derivatives.

"The filing of these patent applications represent a major milestone in NOVA's psilocybin research program," stated Dr. Marvin S. Hausman MD, Chairman of NOVA's Scientific Advisory Board. "The Company is now in a position to reveal the breakthrough preclinical psilocybin results uncovered in its treatment of fragile X syndrome (FXS). Oral repetitive doses of microdose psilocybin showed a more robust improvement in memory than the same doses given by injection. Metabolic changes of psilocybin within the small intestine and perhaps the microbiome may represent a new paradigm in the application of psilocybin to the treatment of autism spectrum disorder (ASD). The data is scheduled to be published in a peer reviewed journal and presented at the upcoming 18th NFXF International Fragile X Conference in July 2022."

The provisional patent applications filed with the U.S. Patent and Trademark Office relates to diagnosis, monitoring and treating neuroinflammatory diseases and conditions with psychoactive tryptamine derivatives.

NOVA's psilocybin formulation was evaluated in two distinct rat models of autism in the laboratory of Dr. Viviana Trezza, Rome, Italy, and demonstrated psilocybin proof of efficacy and safety. In February 2022, the Company announced it had successfully completed a preclinical study that confirmed oral microdose psilocybin as a potential treatment option for ASD and FXS. The research found that a repeated low dose of NOVA's proprietary psilocybin drug (NM-1001) significantly modulated behavioural and cognitive defects, such as recognition memory, in a genetic model of FXS.

Neuroinflammatory conditions - especially those that have the added complexity of disrupted emotional states and behaviours - are still difficult to diagnose accurately and treat effectively. NOVA's research program is designed to generate clinical biomarker data that characterize aberrant gene expression and cellular communication in neurological disease or injury and provide insights into possible interventions and disease monitoring.

The ability to penetrate the unique genetic language underlying the development of chronic diseases and assess therapeutic responses will assist NOVA in obtaining psychedelic drug approval with the regulatory agencies.

In July 2021, NOVA filed a U.S. provisional patent application for a proprietary manufacturing process for the production of psilocybin and tryptamine analogues, baeocystin and aeruginascin.

In May and November 2021, the Company filed US provisional patent applications describing a diagnostic/therapeutic combination of mRNA molecules that encode proteins involved in the development of neurogenerative diseases, FXS and ASD.

About Nova Mentis Life Science Corp.

Nova Mentis Life Science Corp. is a Canadian-based biotechnology company and global leader in developing diagnostics and psilocybin-based therapeutics for neuroinflammatory disorders. Nova is the first biotech company to achieve orphan drug designation in both the United States and European Union for the use of psilocybin in the treatment of Fragile X Syndrome (FXS).

Our goal is to diagnose and treat debilitating chronic conditions that have unmet medical needs, such as autism spectrum disorder (ASD) and FXS.

For further information on the Company, please visit www.novamentis.ca or email info@novamentis.ca.

On Behalf of the Board

Will Rascan, President & CEO
Nova Mentis Life Science Corp.

Phone: 778-819-0244
Toll Free: 1-833-542-5323

Twitter: @novamentislsc
Instagram: @novamentislsc
Facebook: @novamentislsc

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Nova Mentis Life Science's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127996

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