Bright Minds Biosciences (“Bright Minds,” “BMB” or the
“Company”) (Nasdaq: DRUG) (CSE: DRUG), a biotechnology company
focused on developing novel drugs for the targeted treatment of
neuropsychiatric disorders, epilepsy, and pain, today announced
that the Company will host a symposium with Key Opinion Leaders on
Dravet Syndrome and recent therapeutic developments within the
competitive landscape.
Speakers include Ian McDonald, Chief Executive Officer, Dr.
Revati Shreeniwas, Chief Medical Officer, Professor John McCorvy,
PhD, Senior Advisor to Bright Minds, and Key Opinion Leaders, Dr.
Joseph Sullivan, Director of the UCSF Pediatric Epilepsy Center,
and Dr. Scott Perry, Head of Neurosciences Cook Children’s Jane and
John Justin Neurosciences Center; and Medical Director, Genetic
Epilepsy. The Company will provide an update on BMB-101, Bright
Minds’ lead R&D program for the treatment of Dravet syndrome,
and host a Q&A session with the KOLs.
Dr. Joseph Sullivan, a pediatric neurologist,
serves as director of the UCSF Benioff Children’s Hospital
Pediatric Epilepsy Center, where he specializes in evaluating and
caring for children with epilepsy, particularly refractory
epilepsy, in which medications fail to control seizures. He has
special interests in Dravet syndrome and PCDH19-related epilepsy,
two genetic forms of the condition.
Dr. Sullivan is a member of the American Epilepsy Society and
serves on boards for several organizations. His roles include chair
of the PCDH19 Alliance's scientific advisory board, and member of
the Dravet Syndrome Foundation's medical advisory board and board
of directors. He earned his medical degree at Albany Medical
College.
Dr. Scott Perry is the Head of Neurosciences at
the Cook Children’s Jane and John Justin Neurosciences Center; and
Medical Director, Genetic Epilepsy. His clinical and research
interests focus on the treatment of childhood onset epilepsy,
specifically those patients with uncontrolled epilepsy or those for
which the cause has not been determined. Dr. Perry created the
Genetic Epilepsy Clinic at Cook Children's to improve the
diagnosis, understanding, and treatment of children with these rare
conditions.
Dr. Perry serves on a number of local, national, and
international committees dedicated to improving the care of
childhood onset epilepsy. He earned his medical degree from the
University of Mississippi School of Medicine.
Webcast Information
Date: |
Thursday, May 19, 2022 |
Time: |
4:00pm ET |
Webcast Live and Replay: |
View Program |
An archived replay of the presentation will be available on the
Company’s website immediately following the conference at:
https://brightmindsbio.com/investors/.
Today, the Company also announced it has issued an aggregate of
100,000 restricted share units of the Company (“RSUs”) pursuant to
the Company’s RSU plan and an aggregate 25,000 common shares in the
capital of the Company at an issue price of $1.57 (the “Common
Shares”) to certain members of its Board of Directors and
Scientific Advisory Board. The RSUs are subject to vesting
provisions pursuant to which 25% will vest annually, and all Common
Shares will be placed in a voluntary escrow, with 25% being
released annually. The Company also has buyback rights of the
Common Shares. All securities issued are further subject to a hold
period of four months and one day from the date of
issuance.
About BMB-101
BMB-101, a 5-HT2C selective and biased agonist, has demonstrated
compelling activity in a host of in-vitro and in-vivo non-clinical
tests. Compared to Locaserin, BMB-101 exhibits strong Gq signaling
coupled with minimal beta-arrestin recruitment. Mechanistically,
Serotonin (5- Hydroxytryptamine, 5-HT) is a monoamine
neurotransmitter widely expressed in the central nervous system,
and drugs modulating 5-HT have made a major impact in mental health
disorders. Central 5-HT systems have long been associated with the
control of ingestive behavior and the modulation of behavioral
effects of psychostimulants, opioids, alcohol and nicotine. Over
the past decade, the various 5-HT receptor subtypes have been
cloned and characterized. Results of clinical trials and animal
studies indicate that 5-HT2C up receptor agonists may have
therapeutic potential in the treatment of addiction by decreasing
the intake of opioids as well as impulsive behavior that can
escalate compulsive drug use.
About Dravet Syndrome
Dravet syndrome is an epilepsy syndrome that begins in infancy
or early childhood and can include a spectrum of symptoms ranging
from mild to severe. Children with Dravet syndrome show focal
(confined to one area) or generalized (throughout the brain)
convulsive seizures that start before 15 months of age (often
before age one). These initial seizures are often prolonged and
involve half of the body, with subsequent seizures that may switch
to the other side of the body. These initial seizures are
frequently associated with fever. Other seizure types emerge after
12 months of age and can be quite varied. Status epilepticus – a
state of continuous seizure requiring emergency medical care – may
occur frequently in these children, particularly in the first five
years of life. Dravet syndrome affects an estimated 1:15,700
individuals in the U.S., or 0.0064% of the population (Wu 2015).
Approximately 80-90% of those, or 1:20,900 individuals, have both
an SCN1A mutation and a clinical diagnosis of DS. This represents
an estimated 0.17% of all epilepsies. As an area of high, unmet
medical need, there currently exist only three FDA-approved
medications for the treatment of DS: (1) Fintepla® (fenfluramine),
which has a black-box label; (2) Diacomit® (stiripentol) and (3)
Epidolex® (cannabidiol).
About Bright Minds
Bright Minds is focused on developing novel transformative
treatments for neuropsychiatric disorders, epilepsy, and pain.
Bright Minds has a portfolio of next-generation serotonin agonists
designed to target neurocircuit abnormalities that are responsible
for difficult to treat disorders such as resistant epilepsy,
treatment resistant depression, PTSD, and pain. The Company
leverages its scientific and drug development expertise to bring
forward the next generation of safe and efficacious drugs. Bright
Minds’ drugs are intended to potentially retain the powerful
therapeutic aspects of psychedelic and other serotonergic
compounds, while minimizing the side effects, thereby creating
superior drugs to first-generation compounds, such as
psilocybin.
Forward-Looking Information and Additional Cautionary
Language
This news release contains statements and information that, to
the extent that they are not historical fact, may constitute
“forward-looking information” within the meaning of applicable
securities legislation. Forward-looking information may include
financial and other projections, as well as statements regarding
future plans, objectives or economic performance, or the assumption
underlying any of the foregoing. Forward looking information in
this news release contains information related to the planned
symposium on Dravet Syndrome, and the vesting of the RSUs and
release of the Common Shares distributed to directors and
scientific advisory board members. This news release uses words
such as “may,” “would,” “could,” “likely,” “expect,” “anticipate,”
“believe,” “intend,” “plan,” “forecast,” “project,” “estimate,”
“outlook,” and other similar expressions to identify
forward-looking information. The forward-looking statements and
information in this news release include information relating to
the Company’s progress towards first-in-human trials and the
advancement of the Company’s drug candidates. Forward-looking
information involves significant risks, assumptions, uncertainties
and other factors that may cause actual future results or
anticipated events to differ materially from those expressed or
implied in any forward-looking statements and accordingly, should
not be read as guarantees of future performance or results.
Assumptions used to develop the forward-looking information in this
news release includes, among other things, the occurrence of the
Dravet Syndrome Symposium, including the participation of the
individuals noted, and continued eligibility for the Company’s RSU
plan by the RSU recipients and non-exercise of the Company’s buy
back right should cease being a service provider to the
Company. .
Actual results, performance or achievement could differ
materially from that expressed in, or implied by, any
forward-looking information in this news release and, accordingly,
readers should not place undue reliance on any such forward-looking
information. Further, any forward-looking statement speaks only as
of the date on which such statement is made. New factors emerge
from time to time, and it is not possible for management to predict
all of such factors and to assess in advance the impact of each
such factor on the Company’s business or the extent to which any
factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements. The Company does not undertake any obligations to
update any forward-looking information to reflect information,
events, results, circumstances or otherwise after the date hereof
or to reflect the occurrence of unanticipated events, except as
required by law.
Investor Contacts: Lisa Wilson In-Site
Communications, Inc. 489 Fifth Avenue, 29th Floor New York, NY
10017 E: lwilson@insitecony.com
Josh Blacher Bright Minds Biosciences, Inc. 19 Vestry Street New
York, NY 10013 E: josh@brightmindsbio.com
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