Mushrooms seem to be popping up everywhere these days. All as millions digest the idea that mushrooms can support immune systems, reduce inflammation, and help improve moods. Chaga for example has even caught the attention to coffee drinkers, says Thrillist. ” It’s a superfood said to prevent and slow cancer, reduce inflammation, lower blood pressure and sugar, promote immunity, and even allay the side effects of drugs. Short term, it offers stress relief, stimulates cognitive function, and elevates athletic endurance.” That’s great news for companies involved with mushrooms, including NeonMind Biosciences Inc. (CSE:NEON) (OTC:NMDBF), ATAI Life Sciences (NASDAQ:ATAI), Compass Pathways (NASDAQ:CMPS), Mydecine Innovations Group Inc. (NEO:MYCO) (OTC:MYCOF), and Cybin Inc. (NEO:CYBN)(OTC:CLXPF).
In addition, according to The Food Institute, “Supplements, extracts, and protein powders from mushrooms, including chaga, lion’s mane, reishi, and shiitake continue to grow in popularity. Functional beverage offerings that incorporate these supplements, such as mushroom coffee, are also expanding.”
NeonMind Launch of Functional Mushroom Coffees as Dietary Supplements in the US
NeonMind Biosciences Inc. (CSE:NEON)(OTC:NMDBF) just announced that it has launched its NeonMind branded functional mushroom coffee products as dietary supplements in the United States. The initial launch includes two ground coffee SKUs that are now available for delivery anywhere within the US. Two instant coffee SKUs are anticipated to be added within a month.
The new website for US sales is live at intl.neonmind.com and is supported by Shopify. Products can be purchased individually and can be ordered as a subscription to receive a 10% discount The website was built to be mobile friendly and focus on a customer-first strategy. Consumers can sign up to NeonMind’s newsletter to receive the latest news, product releases and recipe information.
Each of the functional mushroom blends and botanicals selected in NeonMind coffees include adaptogens, which means that they work with one’s body to help manage physical, mental and emotional stressors. Functional mushroom specifically refers to mushroom varieties that have a health benefit beyond providing nutrition. Functional mushrooms found in NeonMind coffees, such as cordyceps, lion’s mane, reishi, and turkey tail; offer long-term physical, neurological and immunological benefits.
The initial product launch will feature two varieties of ground coffee. The Protect Blend is a Peruvian Medium Roast French Vanilla Coffee, Turkey Tail, Cordyceps, Moringa extract, and Amla extract. These ingredients have the proven benefit of stress relief, immune support, and cognitive support. The Focus Blend is a Peruvian Dark Roast Coffee with Lion’s Mane extract, Reishi extract, Gotu Kola extract, and Brahmi extract. These ingredients are a healthy source of fungal polysaccharides with immuno-modulating properties that help improve memory and cognitive function, increase alertness, support the immune system and fight mental and physical stress. The Company will soon launch its two instant coffee blends in the US as dietary supplements.
The NeonMind coffee dietary supplements follow all FDA regulations that focus on Comprehensive GMP (Good Manufacturing Practices) to ensure the identity, purity, quality, strength and composition of dietary supplements. NeonMind only uses certified organic mushroom extracts which go through the decoction process (traditional water boiling) to maximize the bioavailability of the product. NeonMindfollows strict US pharmacopeia guidelines for lead and other chemicals required by Proposition 65 for safe and daily intake. All final production batches are sent to a third party lab for stringent microbial testing in order for the copacker to release the product certificate of analysis which signifies that the product is safe for the consumer market.
The global functional mushroom market was valued at USD $25.4 billion in 2020, and it is estimated to register a compound annual growth rate of 8.44% during the forecast period 2021-2026, according to a report by Mordor Intelligence.
Other related developments from around the markets include:
ATAI Life Sciences, a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, announced the pricing of its upsized initial public offering in the United States of 15,000,000 common shares at a price to the public of $15.00 per share. All common shares are being offered by atai. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by atai, are expected to be $225.0 million. In addition, atai has granted the underwriters a 30-day option to purchase up to an additional 2,250,000 common shares at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on June 22, 2021, subject to customary closing conditions.
Compass Pathways, a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced that it has completed psilocybin administration to the target 216 patients in its phase IIb clinical trial of COMP360 psilocybin therapy for treatment-resistant depression. This is the world’s largest psilocybin therapy trial to date. The trial is a randomized controlled, double-blinded, dose-ranging study, investigating the safety and efficacy of psilocybin therapy and comparing a 25mg and 10mg dose of COMP360 psilocybin with a 1mg dose, administered in conjunction with psychological support from specially trained therapists.
Mydecine Innovations Group has selected substance use disorder and smoking cessation as the initial target indications for its proprietary psychedelic molecule MYCO-004. MYCO-004 is a patch-delivered tryptamine compound and its properties include short duration (less than two hours), transdermal, precision dosing, and long-term compound stability. Mydecine said it picked substance use disorder and smoking cessation for MYCO-004 as it addresses the underserved and drastic need for treatment. The company noted that there are 19.7 million American adults suffering from substance abuse disorder. Of those, 8.5 million suffer from both substance abuse disorder and mental health disorders.
Cybin Inc., a biotechnology company focused on psychedelic pharmaceutical therapies, is pleased to announce that Adelia Therapeutics Inc., a wholly-controlled subsidiary of Cybin, has achieved certain earn-out milestones for the period commencing January 1, 2021, as contemplated by the terms of a contribution agreement dated December 4, 2020 among Cybin, Cybin Corp., Cybin US Holdings Inc., a wholly-controlled subsidiary of Cybin, and all of the previous shareholders of Adelia. Positive pre-clinical results achieved as part of various earn-out milestones determined that proprietary deuteration modifications in multiple lead new chemical entity candidates did not alter pharmacodynamic properties and did not alter safety as assessed in in-vitro toxicity tests as compared to non-deuterated analogs.
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