23 September 2022 - - Canadian biotechnology company Biomind Labs Inc (NEO: BMND) (OTC: BMNDF) (FSE:3XI) has completed dose administration of 30 healthy subjects in the company's Phase II trial of its novel drug candidate BMND01 for Treatment-Resistant Depression, the company said.

Ten to thirty percent of people with depression exhibit treatment-resistant symptoms coupled with difficulties in social and occupational function, decline of physical health, poor quality of life, suicide ideation and attempts, self-injurious behavior, high relapse rate and increased health care utilization.

The objectives of the trial are to establish the safety and tolerability of DMT.

In addition to evaluating side effects, this trial will also allow Biomind to explore the origin of the observed side effects, given that different associated physiological, behavioral, and cognitive markers will be collected before, during, and after the trial.

Biomind Labs is a biotech research and development company aimed at transforming biomedical sciences knowledge into novel pharmaceutical drugs and innovative nanotech delivery systems for a variety of psychiatric and neurological conditions.

Through its acceleration platform, Biomind Labs is developing novel pharmaceutical formulations of the main psychedelic molecules, N, N-dimethyltryptamine, 5-MeO-DMT and mescaline for treating a range of therapeutic indications.

Biomind Labs' focus is to provide patients access to affordable and modern-day treatments.