Revitalist Executes LOI to Enter into a Clinical Research Collaboration with MYND
REVITALIST LIFESTYLE AND WELLNESS LTD. (CNSX: CALM) is pleased to announce it has executed a binding letter of intent (“LOI”) with MYND DIAGNOSTICS INC., (“MYND Diagnostics”), a wholly owned subsidiary of MYND Life Sciences Inc. (CNSX: MYND)(OTCMKTS: MYNDF) to enter into a clinical research collaboration studying a link between diagnostic results and improved patient outcomes using MYND Diagnostics’ proprietary anti-inflammatory peptide (“MAP”) biomarker. The MAP diagnostic is intended to give health care providers an objective monitoring tool to detect and diagnose mental illness more accurately than the current diagnosis, which can be very subjective. If successful, this diagnostic has the potential to lead to earlier diagnosis of mental illness and ongoing treatment decisions with the goal of improving patient outcomes by providing more tailored and efficacious treatments.
The goal of the partnership is to utilize Revitalist’s broad network of clinics with patients suffering from mental illness to commence clinical trials to demonstrate MAP’s ability to diagnose and monitor mental health in order to gain approval by the U.S. Food and Drug Administration (“FDA”). The parties anticipate that the initial clinical trial will be focused on patients with mental health issues who had previously been infected with COVID-19 and are seeking medical help for post COVID-19 mental health symptoms (“Brain Fog”). The World Health Organization reports that COVID-19 has affected more than 249 million individuals1. Research indicates that approximately 50% on average of those with COVID-19 have reported having lasting effects2. Revitalist has a network of over 2,300 patients through its multiple clinics in the United States, with many of those patients having been previously infected with COVID-19 and seeking specialized treatments to deal with Brain Fog and other lasting effects.
We are excited to be working with MYND Diagnostics to potentially diagnose and monitor mental health using MAP. Prior to MAP the only diagnostic for mental health was an interview with the patient regarding their history of symptoms, which of course can be very subjective. A diagnostic tool such as MAP would allow for a more objective diagnosis and monitoring, hopefully resulting in a higher level of care and treatments for our patients. One size doesn’t fit all with mental health and treatments that work for some may not work for others. Utilizing MAP would allow us to quickly adjust treatments to better address patient specific mental health issues.Kathryn Walker, CEO of Revitalist
Dr. Lyle Oberg, MD, CEO of MYND stated “A critical step in diagnostics development is demonstrating that an investigational diagnostic produces consistent results. With the new partnership we intend to design next phase clinical validation studies and take blood samples from existing patients at Revitalist with an expectation that we will submit MAP to the FDA for approval in Q2 of 2022. MYND anticipates generating near-term revenue through research and development projects related to MAP. Ultimately MYND intends to work with physicians to adopt MAP in their practices and provide access to patients and insurance providers for reimbursement when utilizing our proprietary diagnostic. This will be our first of many mental health studies working with Revitalist. Their comprehensive network of patients and expert providers will provide the MYND Diagnostics team with optimal research conditions to study MAP in patients so dearly needing better diagnostic and treatment options.”
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