NUMI Numinus Wellness Inc

Psilocybin-containing tea bag offers substitute for whole mushrooms and other solid therapeutics

VANCOUVER, B.C, Oct. 5, 2022 /CNW/ - Numinus Wellness Inc. ("Numinus" or the "Company") (TSX: NUMI) (OTCQX: NUMIF), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced that its research division, Numinus Bioscience, has developed a psilocybin-containing tea bag for use in clinical research and, if appropriate regulatory approvals are granted, eventual treatment of clients in psychedelic-assisted therapy.

"The Numinus team has developed the Psilocybe tea bag with scientific precision in mind," said Sharan Sidhu, Numinus VP, Scientific Research, Innovation & Laboratory Operations. "Our best-in-class team and resources allow us to control the full production process, from growth to finished product manufacturing, to deliver a product that is fully standardized."

The research behind the tea bag involved the development of processes and procedures to deliver 25mg per dose and the use of Numinus' validated strains of Psilocybe cubensis. The tea bag will be studied in a phase 1 trial of practitioners receiving experiential training for psilocybin-assisted therapy, with the goal to be used in Numinus' research, including trial partnerships at Cedar Clinical Research, Numinus' clinical trial management division. The product has also been submitted to Health Canada to be included on the psilocybin supplier list for the federal Special Access Program, through which health care providers can apply to provide psilocybin-assisted therapy, among other psychedelic-assisted therapies, to patients with demonstrable need.

"Numinus recognizes that solid therapeutic products, such as whole mushrooms or pills, might be unappealing or difficult to use by certain populations, such as some people receiving palliative care for serious illnesses," said Dr. Paul Thielking, Numinus Chief Science Officer. "This new product is part of our commitment to increasing accessibility to psychedelic-assisted therapies for those in need, while contributing to the growing research that suggests psilocybin use in combination with therapy may be highly effective for treating mental health disorders."

Numinus Wellness (TSX: NUMI) helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model - including psychedelic production, research and clinic care - is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.

Learn more at numinus.com and follow us on LinkedIn, Facebook, Twitter, and Instagram.

Neither Numinus Wellness Inc., nor any of its subsidiaries is a professional corporation licensed to practice health services. In jurisdictions where health services may only be provided by a corporation if that corporation holds a valid permit to do so, Numinus and its subsidiaries operate in a management services function to affiliated professional corporations, who provide health services to patients. Numinus and its subsidiaries do provide health services directly to patients in those jurisdictions where authorized to do so.

This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are "forward-looking statements". Forward-looking statements can be identified by the use of words such as "expects", "does not expect", "is expected", "believes", "intends", "anticipates", "does not anticipate", "believes" or variations of these words, expressions or statements, that certain actions, events or results "may", "could", "would", "might" or "will be" taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, state, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand the Company's facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal, state and provincial legalization, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company's limited operating and profitability track record; dependence on management; the Company's need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the impact of the Russia-Ukraine conflict on the global economy; the continued impact of the COVID-19 pandemic; and the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company's efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws.

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SOURCE Numinus Wellness Inc.