Bright Minds Biosciences Announces Non-Executive Director Appointment
February 17 2023 - 6:50AM
Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG)
(“
Bright Minds” or the
“
Company”), a biotechnology company focused on
developing novel drugs for the targeted treatment of
neuropsychiatric disorders, epilepsy, and pain, today announced the
appointment to its board of directors (the
“
Board”) of David Weiner, MD, as a non-executive
director. The appointment is effective immediately.
“I am delighted to welcome David to the Bright
Minds Board. He is an accomplished neuroscientist and biotech
entrepreneur who brings extensive experience in the psychedelics
space. The breadth of his work with 5-HT2A compounds is ideally
suited to supporting the advancement of our next-generation
programs. David holds several patents in the area of selective
serotonin modulators, and we look forward to his contributions to
the Company,” said Ian McDonald, CEO and Co-founder of Bright Minds
Biosciences.
“It is an honor to join the Bright Minds Board
as the Company transitions from a discovery to a development
organization. I am eager to share my perspectives and experience to
help Bright Minds progress its innovative clinical and preclinical
drug discovery programs,” stated David Weiner, MD.
Dr. Weiner has over 25 years of experience in
the discovery and clinical development of novel therapeutics for
neurological, psychiatric and rare diseases. He began his career at
ACADIA Pharmaceuticals, where he held a series of discovery
research and clinical development roles working on multiple central
nervous system (CNS) therapeutics, most notably pimavanserin, a
5-HT2A receptor inverse agonist, which is approved for the
treatment of Parkinson’s disease psychosis. Dr. Weiner also served
as the Chief Medical Officer (CMO) and Interim Chief Executive
Officer (CEO) for Proteostasis Therapeutics, CMO at aTyr Pharma and
Lumos Pharma, CEO at Amathus Therapeutics, and as an independent
board member and senior executive at Eleusis, a company focused on
therapeutic development of psychedelics and novel 5-HT2A receptor
agonists. He has authored more than 30 scientific publications and
patents and serves on multiple clinical and scientific advisory
boards, including the Michael J. Fox Foundation for Parkinsons
Research. He received his M.D. from the School of Medicine and
Biomedical Sciences, SUNY at Buffalo, was a Howard Hughes Medical
Institute Research Scholar at the NIH, trained in neurology at New
York Hospital, Memorial Sloan Kettering, Cornell Medical Center,
and did a post-doctoral fellowship in neuropharmacology at the
University of Vermont.
Dr. Weiner has also been appointed to the
Company’s Audit Committee, Compensation Committee, and Corporate
Governance Committee. Following Dr. Weiner’s appointment to the
Board and the Audit Committee, the Company has regained compliance
with the independent director and audit committee requirements as
set forth in Nasdaq Listing Rule 5605.
Option Grants
The Company is also pleased to announce that it
has granted an aggregate of 235,000 stock options (the
“Options”) to consultants and a director of the
Company to purchase 235,000 common shares (the
“Shares”) in the capital of the Company pursuant
to the Company’s share option plan. The Options are exercisable at
an exercise price of $1.05 per Share for a period of five (5) years
from the date of grant. The Options are subject to vesting periods
over the course of the term of the Options
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 world-class scientific and drug development
expertise to bring forward the next generation of safe and
efficacious drugs. Bright Minds’ drugs have been designed 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.
Investor Contacts:Lisa WilsonE:
lwilson@insitecony.comT: 917-543-9932
Ian McDonaldCEO and DirectorE:
ian@brightmindsbio.comT: 917-543-9932
This news release includes certain statements
that may be deemed “forward-looking statements”. All statements in
this new release, other than statements of historical facts, that
address events or developments that the Company expects to occur,
are forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words “expects”, “plans”, “anticipates”,
“believes”, “intends”, “estimates”, “projects”, “potential” and
similar expressions, or that events or conditions “will”, “would”,
“may”, “could” or “should” occur. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include market prices, continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company’s
management on the date the statements are made. Except as required
by applicable securities laws, the Company undertakes no obligation
to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors,
should change.
Neither the Canadian Securities Exchange nor its
Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
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