MINDCURE Announces Partnership with SOMA Breath Inc. to License its Breathwork Program and Develop Custom Breathwork for Psychedelic-Assisted Psychotherapies within iSTRYM
Breathwork has shown promise at both replicating the experience of psychedelics and helping patients to integrate psychedelic-assisted psychotherapy into their lives
VANCOUVER, BC, April 27, 2021 /CNW/ - Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) ("MINDCURE" or the "Company") a leader in advanced proprietary technology for psychedelic therapy, is pleased to announce that it has entered into a partnership and licensing agreement with SOMA Breath Inc. ("SOMA Breath"). The term breathwork refers to breathing exercise techniques that manipulate the depth and rate of breath, and SOMA Breath is a global school that combines ancient breathwork techniques based on pranayama with modern science.
MINDCURE will license SOMA Breath's 21-day mental health-designed breathwork program and will also build a custom breathwork track targeted towards psychedelic-assisted psychotherapies, both within iSTRYM, its psychedelics digital therapeutics platform. SOMA's breathwork programs have been proven to help patients manage stress and reduce anxiety, and have been shown to produce brainwave activity in patients comparable to the effect of psychedelics.1 MINDCURE intends to create opportunities for therapists and patients to utilize SOMA Breath breathwork programs to foster psychedelic-like experiences without the need for psychedelics themselves, while also enhancing the effectiveness of post-session integration for psychedelic-assisted psychotherapies.
With existing partnerships to develop technology integrations and custom services in place with Speak Ai, LUCID and now Soma Breath, MINDCURE is building iSTRYM into the go-to resource that therapists and patients will turn to for science-backed, personalized mental health support at scale. The Company anticipates a late July release of the beta version of the iSTRYM application and platform.
"We think it is important to give individuals options in building their mental wealth, both when they are engaged in psychedelic-assisted psychotherapy as well as when they are not and are simply seeking better mental performance," said Kelsey Ramsden, MINDCURE President and CEO. "SOMA Breath's validated techniques and protocols will enable therapists to design psychedelic-like treatments without the need for actual psychedelics, and also to enhance the effectiveness of post-session integration, which is a key area of focus for us within iSTRYM."
"At SOMA Breath, we have seen firsthand the transformational power of breathwork, and are eager to bring our scientifically-validated program into iSTRYM for therapists and patients around the world, and to work alongside MINDCURE to further the connection between breathwork and psychedelic-like experiences," said Niraj Naik, the Founder and CEO of SOMA Breath. "We believe that the breath is the key to unlocking peak performance and also can serve an important role in the treatment of many debilitating mental health illnesses, and it can be accessed anywhere, by anyone, at any time."
Dr. Jeff Tarrant, the founder of the Neuro Meditation Institute in Eugene, Oregon,2 studied the impact of SOMA Breath breathwork techniques on the brain, and then compared the results with available research on traditional psychedelics. The results showed that breathwork meditation is able to produce similar experiences to those of traditional psychedelics.3
About SOMA Breath Inc.
SOMA Breath's overall mission is to empower people with knowledge, tools, and techniques to make positive and lasting change in their lives. SOMA Breath techniques have the power to transform someone even down to a cellular level. SOMA Breath, considered as a whole, with its range of possible uses and applications, is a framework for total life transformation.
SOMA Breath is a complete holistic system of Pranayama techniques, which can be arranged into different sequences depending on the type of workshop you are attending as well as tailored to your specific needs. There is no one size fits all, and we take into account the fact that everyone is different and requires different breathing techniques depending on their needs. SOMA Therapeutic Breathwork techniques are the core Pranayama techniques that have the most scientific evidence to support their function.
About iSTRYM™ Digital Therapeutics
iSTRYM is a first-of-its-kind software application that optimizes the healing journey for both patients and clinicians — before, during, and after therapy sessions. iSTRYM enhances therapy by bringing together a variety of healing solutions, such as convenient user dashboards, integrative music, guided breathwork, intelligent language processing, secure data analysis, and more.
Offering real-world data in real-time, iSTRYM enables clinicians and their clients access to personalized technology that provides AI-driven data insights for improved clinical outcomes. From mindful integrative content to a repository of world-class treatment plans, iSTRYM provides the best in psychedelic therapy software. iSTRYM drives personalized, quantified and best-in-class outcomes in psychedelic therapy, making Mental Wealth™ accessible.
The Company also announces it has granted a total of 50,000 stock options to certain employees pursuant to the terms the Company's incentive stock option plan ("Plan"). The stock options are exercisable at a price of $0.60 per share and subject to the terms of the Plan.
About Mind Cure Health (MINDCURE) Inc.
MINDCURE exists as a response to the current mental health crisis and urgent calls for effective treatments. MINDCURE believes in the need to reinvent the mental health care model for patients and practitioners to allow psychedelics to advance into common and accepted care.
MINDCURE is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. MINDCURE is interested in exploring diverse therapeutic areas beyond psychiatry, including digital therapeutics, neuro-supports, and psychedelics, all to improve mental health.
On Behalf of the Board of Directors
Kelsey Ramsden, President & CEO
Phone: 1-888-593-8995
Forward-Looking Information
Certain statements in this news release may constitute "forward-looking information" within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "feel", "intend", "may", "plan", "predict", "project", "subject to", "will", "would", and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: SOMA Breath developing custom breathwork for MINDCURE; MINDCURE licensing SOMA Breath's existing 21-day mental health designed breathwork program; iSTRYM will meet its target beta release of late July 2021; SOMA Breath's programs enabling therapists to design psychedelic-like treatments without the need for actual psychedelics; and SOMA Breath's programs helping patients to integrate post-therapy session.
Forward-looking information is based on a number of key expectations and assumptions made by MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE's business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE's business; there will be a demand for MINDCURE's products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that the functional mushroom industry will continue to grow; SOMA Breath will develop a custom breathwork track for iSTRYM; iSTRYM's beta version will be ready by late July, 2021; breathwork will help patients to manage stress and reduce anxiety; MINDCURE will create opportunities for therapists and patients to utilize breathwork programs to foster psychedelic-like experiences without the need for psychedelics; and that breathwork will enhance post-session integration for patients; and MINDCURE will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what MINDCURE believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.
Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the impacts of the COVID-19 pandemic on the Canadian economy, MINDCURE's industry and MINDCURE's business, which may negatively impact, and may continue to negatively impact, MINDCURE and may materially adversely affect MINDCURE's investments, results of operations, financial condition, and MINDCURE's ability to obtain additional equity or debt financing, and satisfy its financial obligations; general economic conditions; future growth potential; competition for mental health and wellness investments; SOMA Breath may not develop a custom breathwork track for iSTRYM; iSTRYM's beta version may not be ready by late July, 2021; breathwork may not help patients to manage stress and reduce anxiety; MINDCURE may not create opportunities for therapists and patients to utilize breathwork programs to foster psychedelic-like experiences without the need for psychedelics; breathwork may not enhance post-session integration for patients; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. Additional information on the risk factors that could affect MINDCURE can be found under "Risk Factors" in MINDCURE's final prospectus which is available on SEDAR at www.sedar.com.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to MINDCURE. The forward-looking information is stated as of the date of this news release and MINDCURE assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Mind Cure Health Inc.
Connect: Investor Relations: [email protected], 1-888-593-8995; Jonathan L. Robinson, CFA, Partner, Oak Hill Financial Inc., [email protected], 416-669-1001
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