Vancouver, British Columbia--(Newsfile Corp. - June 22, 2021) - Entheon Biomedical Corp. (CSE: ENBI) (OTCQB: ENTBF) (FSE: 1XU1) ("Entheon" or the "Company"), a biotechnology company focused on developing psychedelic medicines to treat addiction, has announced an agreement with 3W Wellness Inc. ("Third Wave'') to help drive brand awareness of the company's Psychedelics Genetic Test kit, developed and commercialized by wholly-owned subsidiary HaluGen Life Sciences Inc. ("HaluGen").
The agreement with Third Wave - an organization committed to sharing trusted, research-based content and resources for safe, structured, and responsible psychedelic use - represents an opportunity to expand access to and visibility for HaluGen's Psychedelics Genetic Test Kit, which was launched in the US on June 6, 2021.
The genetic test, a first of its kind, identifies specific DNA biomarkers to gauge the risk and potential of adverse reactions toward hallucinogenic drugs. The test provides users with personalized reports and actionable insights, delivered directly to their smartphone, providing a convenient and safe way to better understand their sensitivity to classic psychedelics (such as psilocybin and LSD) and ketamine. The test also provides insights into the short- and long-term potential of psychedelic-induced risks, such as psychosis.
"We're excited to team up with a leader in the psychedelic space such as Third Wave and look forward to our collaboration and to the increased exposure that this relationship will provide. This is just one of many steps we plan to take as we work to develop channels for the commercial development of HaluGen's Psychedelics Genetic Test," said Entheon Biomedical Chief Executive Officer, Timothy Ko. "Our mutual vision to help create safer psychedelic experiences and help people make informed choices remains paramount to the core mission of Entheon."
"Since our establishment in 2015, we've focused on providing our community with access to education and resources so people can feel safe, supported, and empowered as they follow their path towards personal transformation," said Paul Austin, Founder and CEO of Third Wave. "We believe HaluGen's Psychedelics Genetic Test hits all those criteria by helping people understand their sensitivities and risks in advance, paving the way for people to integrate intentional, measured, and responsible psychedelic use into their everyday lives."
Entheon is a biotechnology research and development company committed to developing and commercializing a portfolio of safe and effective N,N-dimethyltryptamine based psychedelic therapeutic products ("DMT Products") for the purposes of treating addiction and substance use disorders. Subject to obtaining all requisite regulatory approvals and permits, Entheon intends to generate revenue through the sale of its DMT Products to physicians, clinics and licensed psychiatrists in the United States, certain countries in the European Union and throughout Canada.
A Public Benefit Corporation focused on changing the culture and conversation around psychedelics, Third Wave's mission is to share trusted, research-based content and resources that help our growing community feel safe, supported, and empowered as they follow their path towards personal transformation. Our vision is to help co-create a global movement that embraces psychedelic use as a way to heal ourselves and our world. We're playing our part by building a cohesive platform that meets individual and practitioner needs, offers guided support, enables integrated experiences, and fosters meaningful connections across our global ecosystem.
On Behalf of the Board of Directors,
Timothy Ko, CEO
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Telephone: +1 (647) 529-6364
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to the generation of revenue by the Company and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, the Company being able to follow through with anticipated business plans and timing of future activities of the Company, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining regulatory approvals (including of the Canadian Securities Exchange), changes in laws, regulations and policies affecting the Company's operations and the Company's limited operating history.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
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