Diamond Therapeutics to present groundbreaking study at NIH event

Dr. Edward Sellers, head of Diamond's clinical advisory board, will speak about the benefits of low-dose psilocybin

TORONTO, May 27, 2021 /CNW/ - Diamond Therapeutics Inc. ("Diamond"), a leading psychedelic drug development company focused on sub-perceptual therapies for mental health, is pleased to announce that the head of its clinical advisory board, Dr. Edward Sellers, will be presenting at the NIH's Psilocybin Research Speaker Series on June 4, 2021.

Dr. Sellers, who is Professor Emeritus, Pharmacology and Toxicology, Medicine and Psychiatry at the University of Toronto, will be speaking from 12:30 to 1:00 EST.

His talk, which is titled "Low Doses of Psilocybin Enhance Motivation and Attention in Poor Performing Rats: Evidence for Antidepressant Properties," is based on results published in the journal Frontiers in Pharmacology earlier this year.

The research demonstrated, for the first time, that very low, non-hallucinogenic doses of psilocybin have beneficial properties, can improve mood and cognitive function and hold potential for therapeutic use. Diamond believes these findings may help unlock the use of low-dose psilocybin for the treatment of psychiatric disorders, including anxiety and depression.  

The study was within the top five percent of all research outputs in February 2021, as scored by Altmetric.

"These are the first, rigorous, dose-ranging behavioural studies to look at very low doses and concentrations of psilocybin and its metabolite psilocin, and show that hallucinogenic effects are not needed for a potential therapeutic effect," said Dr. Sellers. 

The NIH Psilocybin Research Speaker Series runs from April 22 to June 10, 2021. This time-sensitive, comprehensive speaker series brings together the world's leading experts, including scientists, physician-scientists, clinical psychologists, and oncologists. Additionally, to provide a comprehensive discussion, there will be representation from disciplines engaged in this rapidly growing field of research, including experts representing patient advocacy, law, government science policy, and regulatory policy.

To register for this virtual event, go to https://events.cancer.gov/nci/psilocybinresearch/registration.

About the study
Higgins, G. A., Carroll, N. K., Brown, M., MacMillan, C., Silenieks, L. B., Thevarkunnel, S., Izhakova, J., Magomedova, L., DeLannoy, I., & Sellers, E. M. (2021). Low Doses of Psilocybin and Ketamine Enhance Motivation and Attention in Poor Performing Rats: Evidence for an Antidepressant Property. Frontiers in Pharmacology, 12. https://doi.org/10.3389/fphar.2021.640241 

The research was funded in part by the Ontario Brain Institute's NERD (Neurotech Early Research & Development) program. 

About Diamond Therapeutics
Diamond Therapeutics is a psychedelic drug development company based in Toronto. Our mission is to develop new and better therapies for mental health conditions by unlocking the promise of psychedelic compounds. Diamond is focused on sub-perceptual, non-hallucinogenic treatments that hold potential for use across a broad patient cohort —maximizing the positive impact better drugs can have on the global mental health crisis. To learn more about Diamond, visit www.diamondthera.com.

Cautionary Statements Regarding Forward-Looking Information
This news release includes certain "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes statements other than statements of historical fact that can be identified by phrases such as "expects", "anticipates", "intends", "aims", "plans" and "believes", and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements in this news release include, but are not limited to, the potential effects of low dose psilocybin and other psychedelic treatments, the potential use in treating mental health conditions and the timing and completion of Diamond's clinical programs and trials. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive applicable regulatory approvals; that factors may occur which impede Diamond's future business plans; the results of continued development, marketing and sales; and other factors beyond the control of Diamond. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Diamond disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Diamond Therapeutics Inc.

Rebecca Brown, [email protected]