Nova Mentis Begins Recruitment in First-of-its-Kind Health Canada Psilocybin Trial

Vancouver, British Columbia--(Newsfile Corp. - April 18, 2023) - 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 that it has begun recruiting participants into the first-ever clinical trial investigating the effects of psilocybin on the cognitive and behavioural symptoms associated with fragile X syndrome (FXS), the leading genetic cause of autism spectrum disorder (ASD).

The 28-day study will test the safety and efficacy of NOVA's proprietary psilocybin drug (NM-1001) for the treatment of FXS, and is one of the first Health Canada approved studies allowing participants to take home psilocybin for dosing every other day.

"After achieving very positive results in NOVA's preclinical research, we are eager to begin testing our microdose psilocybin formulation on adult patients diagnosed with fragile X syndrome. Autism is the fastest growing developmental disability in the world and we believe psilocybin therapy has the potential to provide new treatment options for the symptoms associated with this unmet medical need," stated Dr. Marvin S. Hausman MD, Chairman of NOVA's Scientific Advisory Board.

NOVA and KGK Science have partnered to conduct the Phase IIA clinical trial, which is being carried out at the KGK facility in London, Ontario, Canada. This 10-person, open-label study will assess repetitive, oral microdose psilocybin therapy for FXS. The Company intends to confirm changes in behavioural symptoms with state-of-the-art diagnostic and therapeutic mRNA and serotonin biomarker technology, combined with machine learning artificial intelligence (AI).

NOVA has completed production of pharmaceutical grade cGMP synthetic psilocybin 1.5 mg microdose capsules that will be used in the study.

The Company anticipates treating their first participant in Q2 2023 and having preliminary results ready later this year.

For more information, please click here.

To express your interest in participating in this study, please complete this eligibility questionnaire.

If you have questions, email participate@kgkscience.com or call 1-833-858-8359.

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).

NOVA's 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.

About KGK Science

A subsidiary of Wellbeing Digital Sciences, KGK Science is a leading North American contract research organization based in London, Ontario that primarily provides high-quality clinical research trials with a focus on nutraceutical and emerging health care products. Founded in 1997, the business has successfully helped hundreds of companies with custom designed clinical trials and claim substantiation strategies to move products into global markets. KGK's other existing service lines include expert regulatory support and compliance solutions, participant recruitment, research support services and consulting services. Furthermore, the company has produced over 150 publications, executed over 400 clinical trials across more than 40 indications, amassed 25,000 participants in its database, and collected 10 million data points. For additional information, please visit www.kgkscience.com.

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.

‍