Vancouver, British Columbia--(Newsfile Corp. - April 6, 2021) - Entheon Biomedical Corp. (CSE: ENBI) (FSE: 1XU1) ("Entheon" or the "Company"), a biotechnology company focused on developing psychedelic medicines to treat addiction, announces the launch of the industry's first Psychedelics Genetic Test Kit, developed by wholly-owned subsidiary, HaluGen Life Sciences Inc. ("HaluGen"), and that it is now available for sale within Canada.
HaluGen's psychedelic pre-screening platform and DNA testing provides genetic, personal and familial insights to better inform one's psychedelic assisted therapy experience. By obtaining DNA test results, individuals and healthcare professionals are equipped with data to improve psychedelic assisted therapy patient care and reduce side effects and risk. The first of its kind, the proprietary test kit and platform are also expected to be available for purchase in US market within the coming months. The Company is currently pursuing various strategic partnerships with the goal of building brand awareness.
For more information on pricing and ordering, please visit HaluGen's website at www.HaluGen.com.
HaluGen's genetic-based testing platform was developed and tested in partnership with Lobo Genetics Inc. ("Lobo"), a Toronto-based healthcare technology company that has successfully commercialized a THC and CBD Genetic Test. Based on a Product Supply and Testing Services Agreement between Lobo and HaluGen, Lobo completed the requirements for the commercialization of the Psychedelic Pre-Screening Genetic Test, including the completion of the Assay Development and Technology Platform; the creation of operating procedures and the deployment and successful testing of the technology platform.
The Psychedelics Genetic Test leverages Polymerase Chain Reaction (PCR) technology, which is a well-established method for genotyping and analyzing DNA. Customers receive a swab kit that is shipped directly to their home which they can then register on HaluGen's secure online portal. After a non-invasive cheek swab sample is taken, the kit is returned to be processed at HaluGen's Toronto-based testing facility. A personalized genetic profile with five individualized sensitivity and risk reports is sent directly to the customer and they are also given access to pre-screening mental health surveys and relevant peer-reviewed scientific studies.
Genetics can play an important role in how an individual responds to psychedelic-assisted psychotherapy. For example, the HTR2A gene mutation, carried by ~20% of the population, can impact how a person responds to serotonin, which is the primarily mechanism of action for serotonergic psychedelics such as psilocybin, LSD and DMT. Another gene, CYP2B6, can influence the metabolism of ketamine for the 10-20% of people that carry a specific CYP2B6 gene variant.
HaluGen's Psychedelics Genetic Test provides users with personalized reports and actionable insights, delivered directly to one's smartphone, providing a convenient and safe means to better understand an individual's sensitivity to classical psychedelics and ketamine. The test also provides insights into the short and long-term potential of psychedelic-induced risks, such as psychosis.
"The launch of HaluGen's Psychedelics Genetic Test is not only a first in the psychedelics industry, but also an important milestone for both Entheon and HaluGen. For patients considering psychedelic-assisted psychotherapy, and providers alike, this product gives greater insight into how an individual's genetic profile could impact treatment, ultimately improving outcomes," said Chief Executive Officer, Timothy Ko. "For Entheon, the launch of this product also represents our first revenue stream as we work to develop commercial partnerships for the mass sale of the test. Lastly, for HaluGen, the launch is the culmination of much hard work and dedication in proving out and commercializing the test, so a well-deserved congratulations to the entire HaluGen team."
"HaluGen's psychedelics genetic testing service has successfully leveraged Lobo's proven direct to consumer genetics technology," said Chief Executive Officer, John Lem, of Lobo Genetics. "HaluGen has created additional innovative features and functionality specifically designed to better inform and educate individuals as part of their psychedelics pre-screening platform, and we are thrilled to be their partner to assist them in their technology development."
About Entheon Biomedical Corp.
Entheon is a biotechnology research and development company committed to developing and commercializing a portfolio of safe and effective 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 HaluGen Life Sciences Inc.
HaluGen has developed a DNA testing and personalized psychedelic pre-screening platform that provides genetic, personal and familial insights to better inform the psychedelic experience, with the goal of improving patient care and reducing side effects and risk. HaluGen's genetic-based psychedelic pre-screening platform helps evaluate an individual's overall sensitivity and risk profile when using hallucinogenic drugs. This platform is the first of its kind with test results available within days. https://www.halugen.com
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Cautionary Note on Forward Looking Information
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to HaluGen's genetic testing kit, potential market, generation of revenue by the Company, the efficacy of the products, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, the Company being able to follow through with anticipated business plans and timing of future activities of the Company, completion of the milestones in connection with the issuance of the Compensation Shares, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining regulatory approvals (including of the Canadian Securities Exchange), changes in laws, regulations and policies affecting the Company's operations and the Company's limited operating history.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.