Bright Minds Biosciences inc. DRUG.CSE
Sector: Medical, Pharmaceutical/Mental health
Focus: Psilocybin/2nd generation psychedelics
Bright Minds Biosciences inc. is quickly emerging as a front runner in the psychedelic space with a specific focus on Psilocybin. With multiple patents to their name in Japan, Canada, U.S and Europe as well as a world class research team, the company continues to refine the Psilocybin compound to enable safe medicinal use. Bright Minds Biosciences’ primary focus is providing relief for a variety of ailments and conditions, both physically and mentally with promising results. With approximately $28 Million in their treasury, the company is well funded for the foreseeable future.
Comparables
Overview
Recent Private placement of $26 Million at $7.57/share issued with great interest.
Significant and recurring insider buying has been taking place since the issuance of the $7.57 private placement (information available on SEDAR).
Bright Minds holds two patents on variants of the psilocybin molecule - a second generation of refined psychedelics, currently held in Japan, U.S, Canada and Europe.
Licensed/granted patents until 2036.
Business model allows continued refinement and patent protection.
Solidifying patent rights and revenue premiums going forward.
Research on additional patents currently in progress.
Unmodified, Psilocybin and all psychedelic drugs present a variety of side-effects posing specific stress on the cardiovascular system.
Without modification, psilocybin requires approximately 4-6 hours to be completely metabolized - a significant drawback to the medication/therapy.
At present, psilocybin must be used in clinics with physician supervision in a formal medical setting to be legally administered.
Bright minds Biosciences plans to have clinical trials by the end of 2021.
Initial trials will included studies on Depression and application in Epilepsy patients.
Benefits (of psilocybin itself) have been medically documented in patients with PTSD, anxiety, psychosis and growth in neurons.
Bright Minds Biosciences’ patents include the following modifications:
faster metabolization throughout the body.
reduction in respiratory/cardiac issues/symptoms etc.
These patents result in much safer and efficient use with fewer to no side-effects.
The psilocybin variant Bright Minds produces will be consumed orally.
Oral consumption is highly sought after in the psychedelic space.
Other large companies in the psilocybin space are looking to synthesize and patent psilocybin (the compound) itself.
This approach is shortsighted and “first past the post” in nature regarding patent potential.
Only one company can obtain the patent and the rest will be destitute; no other company has modified the molecule/compound like Bright Minds Biosciences.
Bright Minds Biosciences’ approach allows for continued refinement of the compound thus improving the products’ efficacy as well as continually extending the patents’ life.
$36 million total funds have been raised outside of government grant funding. SEDAR does not include government grants and funding of which Bright Minds Biosciences is continuing to leverage to further their research.
Approximately $28 million in treasury.
Many of the bio engineers on this world class team have significant connections in the medical field.
Allows the conduct of research in universities for free (allows PHD/Doctorate candidates to do work on their thesis’) resulting in research/ product advancement for pennies on the dollar.
Bright Minds Biosciences’ compounds will be patented at the cost of approximately $20,000 per patient per year.
as opposed to competitors’ generic offerings which will only be able to garner $500 per patient per year for a far inferior product.
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