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Blackhawk Growth, an investment holding company, is acquiring MindBio Therapeutics, a clinical stage drug development company pioneering psychedelic micro-dosing research

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MindBio Therapeutics (www.MindBioTherapeutics.com), an arms-length, privately held clinical stage drug development company, is pioneering psychedelic micro-dosing research and is advancing emerging therapies to treat a range of debilitating health conditions such as depression, anxiety, chronic pain, cognitive impairment and PTSD.

Additional Information:

Company: Blackhawk Growth Corp.
Website: http://www.BlackhawkGrowth.com
Stock Symbol: CSE: BLR
Date Published: Sep 3, 2021
Transcript: Available

Video Transcript:

I’m Katriina Cotten for Investmentpitch Media
Blackhawk Growth Corp., an investment holding company, is acquiring MindBio Therapeutics.
MindBio Therapeutics (www.MindBioTherapeutics.com), an arms-length, privately held clinical stage drug development company, is pioneering psychedelic micro-dosing research and is advancing emerging therapies to treat a range of debilitating health conditions such as depression, anxiety, chronic pain, cognitive impairment and PTSD.
In the world’s first clinical trial of its kind, the company has started Phase 1 clinical trials at the University of Auckland in New Zealand, in a safety study of 80 participants micro-dosing LSD to patients, which will take the drug at home as they would any other medication.
The study has received regulatory approval and government funding for the importing of LSD, laboratory work using the drug, and approvals for participants to be prescribed the drug.
Approvals have also been received for Phase 2 clinical trials involving micro-dosing LSD in late-stage cancer patients experiencing end of life distress.
MindBio Therapeutics is also pioneering the development of micro-dose formulations and a range of technology and artificial intelligence applications to ensure the safe dosage, use and administration of psychedelic medicines in the community.
Early indications show that LSD is tolerated well in micro-doses and has a lower side effect profile than currently prescribed anti-depressant drugs.
Justin Hanka, Co-Founder and Director of MindBio Therapeutics, stated: “We are excited to become part of the Blackhawk portfolio, which expands our investor reach to the capital markets in North America and we are now truly a global company with connections in Australia, New Zealand and Canada. We are excited by the prospect of accelerating our clinical research micro-dosing psychedelic medicines in Phase 2 clinical trials and the next steps towards commercialisation.”
Frederick Pels, CEO of Blackhawk, added: “The acquisition of MindBio Therapeutics will help to scale our life science and psychedelic portfolio. Complementing our current assets, a clinical trial and a management team with decades of experience in the health sector will enable Blackhawk and MindBio Therapeutics to be leaders in the legal psychedelic treatment industry that we believe will only continue to grow exponentially. We look forward to updating our shareholders with our progress over the coming months.”
To close the transaction, Blackhawk Growth is issuing approximately 22.1 million shares.
MindBio Therapeutics recently completed an equity financing for proceeds of approximately AUD $1.3 million, which gave it sufficient working capital to complete its Phase 1 clinical trials.
Blackhawk, an investment holding company, has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States.
Its portfolio of companies includes:
Sac Pharma, an established California based cannabis cultivation company.
Noble Hemp, a Colorado-based premium hemp CBD extraction company with a line of premium products.
Spaced Food, which has created a line of shelf-stable products, requiring no refrigeration, ranging from cheesecake to ice cream and even cannabis-infused fruits and berries.
NuWave Foods, a fully licenced commercial kitchen and baked goods manufacturer located in Edmonton Alberta, has a process to create a shelf-stable baked product without the use of any preservatives.
Trip Pharma, a mental health and wellness company focused on the production of psychedelics and psychedelic-enhanced psychotherapy, which In January, opened its LeichtMind (light mind) Center in Edmonton.
Blackhawk also has a contract with Medigen Biotechnology and TBG Biotechnology, to distribute certain diagnostic products, including COVID-19 test kits.
The company reported unaudited gross revenue of approximately CDN$3,934,000, for the fiscal year ended June 30, 2021, from its wholly owned portfolio companies.
The shares are trading at $0.50.
For more information, please visit the company’s website www.BlackhawkGrowth.com, contact Frederick Pels, CEO, at 403-991-7737 or by email fred@BlackhawkGrowth.com.
I’m Katriina Cotten for Investmentpitch Media