Entheon Biomedical Announces Private Placement to Begin Pre-clinical Trials with Psychedelic Compounds DMT & 5 MEO DMT
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2020) - Entheon Biomedical Corp. ("Entheon" or the "Company") announces that it intends to complete a private placement of up to 10,000,000 units (the "Units") at a price of $0.40 CDN per Unit for total gross proceeds of up to Cdn$4,000,000. Each Unit will consist of one common share and one-half of one warrant. Each whole warrant (a "Warrant") will entitle the holder to purchase one common share at a price of $0.60 for two years from the closing date, subject to accelerated expiry.
If the volume weighted average trading price of the Company's common shares on any stock exchange on which the Company's common shares are then listed, is at a price equal to or greater than Cdn$1.00 for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by giving written notice to the holders of the Warrants that the Warrants will expire on the date that is not less than 30 days from the date notice is provided by the Company to the Warrant holders.
In connection with the private placement, the Company may pay finder's fees in cash or securities or a combination of both.
Proceeds of funds raised will go directly to advancing Entheon's drug program, and facilitate the completion of the following scientific/regulatory milestones:
• Literature, Experts & Submission
- IV Product, Stability Testing & Delivery Method Proof-of-Concept Study
- Meeting with Dutch Regulators Preclinical Phase 2b and Phase 3 studies Preclinical Animal Testing
- Pilot Study Phase 1/2a nicotine addiction
Excited about Entheon's future, CEO Timothy Ko affirms:
"Entheon Biomedical has made tremendous strides over the last year defining our path towards the development of psychedelic medicines. We have assembled a world class team of scientists and advisors that are second to none. While we are well capitalized to date, the Company is set to embark on the next phase of growth. In order to accomplish this, we are seeking to raise enough capital to advance discussions with GMP drug material providers and CROs in order to solidify all elements necessary to carry out our Phase 1 and 2a next year."
"We are also in preliminary discussions with a Palo Alto based artificial intelligence company, about developing a home-based and hospital-based AI protocol. This would allow Entheon Biomedical to create AI driven psychedelic assisted therapies, that includes facial recognition and mood analysis software. This would greatly enhance the success of the treatments, while decreasing the cost and making the treatments more accessible to the public. We look forward to a very active 2020," he continued.
Who we are
Entheon Biomedical is a psychedelic R&D company investing in research and an intensive drug discovery program with the aim to commercialize a portfolio of psychedelic therapies specifically designed for the treatment of addictive disorders. Psychedelics have a long history in the treatment of addictive disorders, and we are all very excited to be working alongside a growing community of scientists and medical professionals to dispel and overcome the many misconceptions with respect to the clinical use of psychedelics.
Current scientific trials, combined with the wisdom of indigenous societies, and psychedelic research of the past, all point to a growing wealth of evidence legitimizing psychedelic substances as a medical and healing tool that has the potential to revolutionize the mental health sciences.
Entheon Biomedical is developing therapeutic formulations of psychedelic molecules that are designed to create different experiences in ways that will facilitate the healing process needed to resolve the underlying issues of addiction.
Why we exist
As evidenced by increasing rates of overdose deaths, societies all over the world have found themselves ill-equipped and overburdened in managing and mitigating the growing addiction crisis. More solutions are required to support and improve existing recovery methods, in order to develop a treatment model rooted in innovation and contemporary scientific findings.
Several of Entheon Biomedical's founders have endured personal experiences with the loss of loved ones due to the absence of suitable treatment options for issues ranging from opiate addiction to treatment resistant depression. From this perspective, the Company's core mission is to investigate, manufacture, and commercialize scientifically valid treatment options to address, ameliorate and treat the addiction crisis that is plaguing many of our very own families and the modern world at large.
"Entheon Biomedical believes that people suffering from life-inhibiting addiction disorders should have access to all scientifically-validated treatment protocols, and is committed to the development and commercialization of psychedelics that are FDA, EMA and Health Canada approved medicines designed to address the mounting public crisis of addiction and substance-related disorders," Mr. Ko stated.
Entheon Biomedical seeks to put aside a portion of funds it raises, and profits from its future operations, toward the preservation of the Amazon and the wisdom keepers of the region, so that they may continue their important traditions of medicine and healing.
Chief Executive Officer
Timothy Ko has a broad background of leading private ventures in the service sector, investor relations, retail and technology. Most recently, he served as Director of Hyperbridge Technology, a company focused on the development of decentralized technologies that facilitate crowdfunding.
Mr. Ko's passion for the psychedelic space and its potential for therapeutic use is shaped by firsthand knowledge of the shortcomings of the current mental health system and through his exposure to psychedelics, which he credits with saving his life. Following the loss of a loved one to a decades' long fight with mental health and addictions, and through his personal experiences, Mr. Ko has committed himself to developing and providing further access to the lifesaving potential of psychedelic medicines.
Professor Matthew W. Johnson, Ph.D.
Matthew Johnson is a Professor of Psychiatry and Behavioral Sciences at Johns Hopkins, and an expert on psychoactive drugs and addiction. He is one of the world's most widely published scientists on the human effects of psychedelics. Prof. Johnson earned his Ph.D. in experimental psychology at the University of Vermont in 2004, and has published over 110 peer-reviewed articles. Working with psychedelics for 16 years, he published psychedelic safety guidelines in 2008, helping to resurrect psychedelic research.
Prof. Johnson was the 2019 President of the Psychopharmacology and Substance Abuse Division of the American Psychological Association, and is the current President of the International Society for Research on Psychedelics. He has received continuous funding as a principal investigator for over 12 years.
Prof. Johnson has reviewed for over 75 scientific journals, and reviewed grants for the National Institutes of Health, National Science Foundation, the United States Military, and multiple governments outside of the United States and has presented his research in 13 nations. He has been interviewed widely by media including 60 Minutes, New York Times, Washington Post, Wall Street Journal, BBC, CNN, NPR, and Fox Business News. Prof. Johnson and his research were featured in Michael Pollan's recent best-selling book, "How to Change Your Mind: What the New Science of Psychedelics Teaches Us About Consciousness, Dying, Addiction, Depression, and Transcendence".
Robin Carhart-Harris, Ph.D.
Robin Carhart-Harris Heads the Psychedelic Research Group within the Centre for Psychiatry at Imperial College, London, where he has designed a number of functional brain imaging studies with psilocybin (magic mushrooms), LSD, MDMA (ecstasy) and DMT (ayahuasca), plus a clinical trial of psilocybin targeting treatment resistant depression. He has over 50 published papers in peer-reviewed scientific journals; two of which were ranked in the top 100 most impactful academic articles of 2016. Dr Carhart-Harris obtained his PhD in Psychopharmacology from the University of Bristol, and prior to that, an MA in Psychoanalysis at Brunel University. He has an honorary position at the University of Oxford.
Dr. Dennis McKenna
Dennis McKenna is an American ethnopharmacologist, research pharmacognosist, lecturer and author. He is the brother of well-known psychedelics proponent Terence McKenna and is a founding board member and the director of ethnopharmacology at the Heffter Research Institute. As advisor to Entheon, he brings with him decades of research and insight.
Christopher Timmermann, PhD.
Candidate, Scientific Advisor
Christopher Timmermann is a psychologist educated at the Catholic University of Chile with a Masters in Neuroscience and Neuropsychological Therapy from the University of Bologna. He is a PhD Candidate at the Centre for Psychedelic Research / Psychedelic Research Group, based at The Computational, Cognitive and Clinical Neuroimaging Laboratory (C3NL). His research focuses on the effects of DMT in the human brain.
Andrew Hegle, Ph.D.
Director of Operations
Dr. Andrew Hegle has been an adjunct professor of Pharmacology at the University of British Columbia since 2015. He has a background in molecular biology and biochemistry and has published research investigating the role of membrane receptor proteins in physiology, behavior and disease. Andrew's main professional focus has been in the creation and management of laboratory operations. To that end, Andrew has held executive and operational management positions at several biotechnology companies, and was a cofounder of both Cannevert Therapeutics and Canalytic Laboratories in Vancouver. Dr Hegle has a long-held interest in the therapeutic potential of psychedelic medicine and is delighted to commit himself to furthering this field.
Christopher Gondi, Ph.D.
Chief Science Officer
Dr. Christopher Gondi is a Research Assistant Professor - Departments of Medicine, Surgery and Pathology at the University of Illinois, College of Medicine, Peoria. He is a professor of cancer biology and has extensive experience dealing with brain tumors and pancreatic cancer, for which the survival rates are very low.
Knowing firsthand the difficulty many face as they approach the end of their lives, Dr. Gondi seeks to explore the therapeutic benefits of psychedelics in helping patients reconcile their views and prepare for whatever exists beyond life. He also sees the transformative potential of these drugs in positively affecting the lives of those suffering from substance use disorders.
Yaron Eshel has 15 years of experience in Life Sciences innovation. Having led efforts in product development, regulatory compliance, and operations, Mr. Eshel has worked within start-ups as well as having consulted for them.
He has navigated the US, European, Israeli and Australian regulatory agencies including the registration of manufacturing facilities in the US, Central America, Israel and Australia to Good Manufacturing Practice levels. Mr. Eshel has led clinical trials in the US, Europe and Israel as well as worked with CRO's all over the world.
Kenneth W. Tupper, Ph.D.
Advisor of Ethics
Kenneth W. Tupper served as an Adjunct Professor in the School of Population and Public Health at the University of British Columbia, and has been active in the field of psychedelic studies for more than fourteen years.
Having completed an M.A. thesis and Ph.D. dissertation that developed the concept of "entheogenic education," a theoretical frame for understanding the kinds of learning that can be realized through the circumspect uses of psychedelics as cognitive tools. His other research interests include the cross-cultural and historical uses of psychoactive substances; public, professional and school-based drug education; and creating healthy public policy to maximize benefits and minimize harms from currently illegal drugs.
Mr. Tupper is also currently a member of the Clinical & Scientific Advisory Board of the Multidisciplinary Association for Psychedelic Studies - Canada (MAPS-Canada) and the Advisory Board of the Wasiwaska Research Centre in Brazil.
Dr. Michael Walker
Dr. Walker received his pharmacology training at the University of London which included a period of drug discovery training at Pfizer Ltd., (UK). Dr. Walker's main focus has been in the discovery of drugs, both naturally occurring and synthetic, and he has developed an expertise in traversing the path to successful drug discovery. Michael's commitment to the pharmaceutical/pharmacology industry includes 43 years of instruction at UBC and numerous contributions to universities around the world. Over the past 25 years, Dr. Walker was the founder or co-founder of eight different drug discovery companies, both public and private, including Cardiome Pharma (TSX:COM) in Canada and Verona Pharma Ltd. in London.
In addition, Dr. Walker has researched and published in numerous journals, periodicals and other publications, while presenting widely at conferences around the world.
Dana Nohynek, MSc.
Dana Nohynek is the director of regulatory affairs and quality assurance at the Canadian Institutes of Health Research. She holds a BSc (Honors) from the University of Waterloo (1998), a MSc from the University of Toronto (2000) and a RAC certification (2006) granted by the Regulatory Affairs Professionals Society (RAPS). She has over 10 years of industry experience that includes the development of regulatory strategies throughout various phases of clinical investigation, extensive interactions with regulatory authorities, preparation and submission of applications to health agencies in Canada, the United States and Europe. In addition, Ms. Nohynek has implemented quality systems, developed internal training programs and participated in agency audits. She has worked for small to mid-size biotech and medical device companies as well as with large pharma. She is an executive member of RAPS's Southern BC chapter.
Evelina Rubinchik, Ph.D.
Preclinical Regulatory Consultant
Evelina Rubinchik has over 25 years of industry and academic experience in drug development. She specializes in the creation of product development plans and liaises with the relevant regulatory authorities to ensure the acceptability of the plans. Throughout her career she has designed multiple pharmacokinetic studies, as well as spearheading pharmacokinetic and pharmacodynamic analyses. Ms. Rubinchik started her own successful consulting practice in 2009, focusing on nonclinical toxicology and pharmacology. She has worked with biotechnology companies in Canada, America and Asia. She holds a B.Sc & M.Sc in Biochemistry and a Ph.D in Pharmacology.
Drug Development & Regulatory Consultants
BioEnsemble was established in 2006 and brings to all projects over 30 years of industry experience from leadership in small, medium and large pharmaceutical companies. Bioensemble has extensive experience in general management, business development, commercial strategy, product marketing, life-cycle management, clinical development, manufacturing and fundraising & financing. And has been involved in over 100 healthcare partnering discussions, valuations, due diligence and transactions and has developed and launched more than 20 brand products.
Thank you for taking the time to familiarize yourself with Entheon Biomedical.
If you have any questions regarding this placement, or would like more information about the Company, please reach out to Timothy Ko through
email or phone: +1 (604) 562-3932.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Entheon Biomedical results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Entheon Biomedical believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Entheon Biomedical undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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