TORONTO, ON / ACCESSWIRE / June 17, 2021 / Novamind Inc. (CSE:NM)(OTC PINK:NVMDF)(FSE:HN2) ("Novamind" or the "Company"), a leading mental health company specialized in psychedelic medicine, announces that it has made a strategic investment of US$1,000,000 (the "Strategic Investment") in a stealth mode drug development company based in the United States (the "Investee").
The Investee operates a drug discovery and development business focused on neuropsychiatric disorders. Novamind's Strategic Investment represents a minority equity investment in the Investee, part of a Series A financing led by Apeiron Investment Group pursuant to which the Investee raised aggregate gross proceeds of US$25,000,000.
The Strategic Investment leverages Novamind's expertise in patient recruitment and patient management for the Investee's development of novel treatments for neuropsychiatric disorders.
Novamind expects to share further details relating to the Strategic Investment as they become available when confidentiality restrictions are lifted.
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics, retreats, and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512
Bill Mitoulas, Investor Relations
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the Company's public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.