The Company’s Wholly Owned Contract Research Organization is Currently Working on Numerous Psychedelic Drug Projects, Clinical Trials, Path-to Market Consultations and New Substance Notifications, as the Continuation of a Pivotal 2021 for KGK Science
Vancouver, British Columbia, February 2, 2022 / Globe Newswire / – Wellbeing Digital Sciences Inc. (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (Frankfurt: MY0), an evidence-based healthcare company focused on innovative clinical solutions, artificial intelligence-powered digital therapeutics and contract research, is pleased to provide a corporate update highlighting the various achievements of its wholly owned subsidiary, KGK Science Inc., (“KGK” or the “CRO”).
Recapping some of 2021’s highlights, KGK won contracts for 11 clinical trial service projects and 5 medical writing projects. Despite the restrictions associated with the COVID-19 pandemic, KGK was able to complete the conduct of 9 clinical trials and advanced several others towards completion. KGK’s Regulatory Division completed 19 consulting projects for clients in the nutraceutical, cannabis and psychedelic spheres. KGK received approvals for eight Product License Applications for Natural Health Products, acknowledgement letters for four unique New Dietary Ingredient Notifications and expert panel consensus that three food ingredients possess Generally Recognized As Safe status. Representatives of KGK were asked to be featured speakers at the large Wonderland, Psychedelic Capital and Lift & Co. events, while the CRO was also a major sponsor of the Miami-based Wonderland conference.
For 2022, the CRO expects to experience significant growth based on current client interest in new projects and requests for proposals, including a substantial expansion in psychedelics-related work. KGK is currently working on psychedelic drug projects with eight distinct clients, managing four clinical trials including a Phase 1 study of a proprietary psilocybin extract in healthy adults, and working with an Ontario-based contract manufacturer to provide a joint solution for the production and study of psychedelic compounds. Additionally, the CRO is working on 15 Product License Applications submissions for Health Canada; seven pharmaceutical and 20 nutraceutical clinical
trials, including two cannabis studies; as well as three paths-to-market and one new substance notification.
Internally, the CRO is helping Wellbeing enhance its network of clinics to conduct psychedelic clinical trials. The Company’s goal is for KGK to become the premier contract research organization in the psychedelics industry. An additional goal of Wellbeing is to improve virtual trial conduct, by implementing a novel platform and technology along with its other subsidiary, IRP Health, that the Company expects to be launched next year. As a result of their 2021 achievements, KGK advanced its reputation as an expert in the psychedelics sector and became a founding member of the Psychedelic Science 2023 Event that is being planned as the world’s largest gathering of people in the psychedelic ecosystem.
“By the lengthy list of engagements currently under way, it is clear that KGK’s services are in high demand. Our management team and employees are working hard every day to help clients navigate the clinical trial process and regulatory environment. I’m incredibly proud of KGK’s evolution and am grateful for the support of both our longstanding clients, new customers and future collaborators,” said Najla Guthrie, President and CEO of KGK.
“2021 was an important development year for both KGK and our overall organization as the subsidiary was integrated after being acquired and synergies were quickly realized. With the large number of clinical trials, research projects and collaborations with aligned counterparties already under way at the CRO, management expects that 2022 may be even more rewarding. The acquisition of KGK was definitely a highlight of last year and we look forward to growing together, along with the rest of the organization,” added Adam Deffett, Interim CEO of Wellbeing.
ABOUT KGK SCIENCE
Founded in 1997, KGK is a leading North American contract research organization based in London, Ontario that primarily provides high-quality clinical research trials with a focus on the nutraceutical, cannabis and emerging psychedelic industries. 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. On an approximate basis, the business to date has produced 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.
Wellbeing Digital Sciences Inc. (formerly KetamineOne Capital Limited) is an evidence-based healthcare company focused on innovative clinical solutions, artificial intelligence-powered digital therapeutics and contract research. Its mission is supported by a network of North American clinics that provide ketamine-assisted therapies and other types of treatment to patients as well as through a contract research organization that offer clinical trials services to clients pursuing drug
development. In essence, the company exists to make breakthrough treatments more accessible and to offer patients transformational experiences.
On behalf of:
WELLBEING DIGITAL SCIENCES INC.
Adam Deffett, Interim CEO
For further information, please contact:
Nick Kuzyk, Investor Relations
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