Entheon Biomedical Announces Corporate Update Including Investment in Wonder Scientific
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2020) - Entheon Biomedical Corp. (CSE: ENBI) (FSE: 1XU1) ("Entheon" or the "Company"), a biotechnology company focused on developing psychedelic medicines to treat addiction, announces a strategic investment in Wonder Scientific Inc. ("Wonder Scientific").
Wonder Scientific's team of University Researchers and Product Development experts create custom, naturally derived, active pharmaceutical ingredients (APIs) to supply the growing global clinical and commercial demand for psychedelics.
Entheon's first strategic investment provides exposure in other verticals of the psychedelic therapy space and strategic access to psychoactive pharmaceutical ingredients and scientific bench strength as Entheon develops therapeutic treatments for addiction.
"Our investment in Wonder Scientific is part of our strategy in gaining low risk exposure to other segments of the regulated psychedelic treatment space," said Timothy Ko. "Their team of experienced pharmacologists and product experts enhances a strategic relationship providing opportunities for additional revenues from the company's line of genetics, bio-stimulants, and pharmaceuticals."
Tegan Adams, President & Founder of Wonder Scientific, commented on the partnership: "We are absolutely thrilled and privileged to have our value and strategy highlighted and recognized by Entheon management. We look forward to upcoming collaborations and a profitable symbiotic relationship."
Entheon is pleased to announce it has entered into an investor relations consulting agreement with Mr. Joseph Cullen.
Mr. Cullen's career has included over five years of public market experience, primarily focused on the resource and technology sectors with an emphasis on investor relations and corporate finance. His previous experience also includes working for Deloitte and VMWare, as well as co-founding and managing private ventures in the financial services, environmental consultancy, and technology sectors. Mr. Cullen is being paid $5000 per month for a one-year term.
Further, pursuant to its stock option plan, the Company has granted options to purchase up to 3,175,000 common shares in the Company (the "Options") to certain officers, directors and consultants of the Company. The Options are exercisable at $0.71 per share for a period of five years from the date of grant. Of the Options, 2,725,000 are subject to vesting over a 2-year term. The Options have been granted under and are governed by the terms of the Company's incentive stock option plan.
About Entheon Biomedical Corp.
Entheon is a biotechnology research and development company committed to developing and commercializing a portfolio of safe and effective N,N-dimethyltryptamine based psychedelic therapeutic products ("DMT Products") for the purposes of treating addiction and substance use disorders. Subject to obtaining all requisite regulatory approvals and permits, Entheon intends to generate revenue through the sale of its DMT Products to physicians, clinics and licensed psychiatrists in the United States, certain countries in the European Union and throughout Canada.
About Wonder Scientific
Wonder's vision is to help the world find it's Wonder again. Wonder's mission is to unlock the healing properties of hundreds of new plant medicines sourced from diverse locations, transforming them into regulated pharmaceutical products for global commercialization and sales.
For more information, please contact the Company at:
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Telephone: +1 (647) 529-6364
Cautionary Note on Forward Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to a strategic investment, the performance of such investment and other matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to raise further capital and the Company's ability to obtain regulatory and exchange approvals. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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