Wake Network Retains CRO Santé Cannabis to Conduct Clinical Trials in Psilocybin Therapies

TORONTO, June 16, 2021 /CNW/ - Wake Network Inc. ("Wake" or the "Company"), a global leader in psilocybin and medicinal mushroom production and developer of genomics-based integration therapies, is pleased to announce that it has entered into an agreement with Santé Cannabis ("Sante") for consultation and clinical research services to support Wake clinical trials in Canada. Both parties to this new relationship are committed to excellence in clinical research and patient access to psychedelic medicine with a focus on naturally derived psilocybin.

This agreement, under which Wake and Santé will collaborate on clinical research initiatives in Canada, is the first of its kind, bringing together an innovative leader in the psychedelic medicine space with a pioneer of medical cannabis research and clinical practice to bring trailblazing discoveries of new and more effective treatment options for patients. As two emergent complementary medicines, many parallels exist between the medical cannabis industry and the currently developing psychedelic medicine industry. This engagement will build on the strong foundation of Santé, having treated more than 10,000 patients since 2014 under a real-world data protocol. With this engagement, Wake finds significant value by capitalizing on Santé's experience navigating complex regulatory changes and leveraging years of expertise with naturally derived controlled substances.

"Santé is a key partner for Wake as they are a leading contract research organization (CRO) in Canada with expertise in advancing plant-based pharmaceutical products through various phases of clinical trial development. This relationship enables us to initiate our clinical research program and marks an important step for Wake in Canada. Working with such an experienced partner in the field of complementary medicines, we can offer a unique opportunity for physicians to learn about our clinical research program and to broaden their knowledge base on all aspects relating to the benefits of psychedelics," stated Nick Murray, Chief Executive Officer of Wake.

Under this engagement, in addition to the clinical trials, Santé will also engage with physicians, therapists, and research investigators as partners in psychedelic medicine and research development.

"The opportunity to work with Wake Network, a company committed to the scientific advancement of psychedelic medicines, is one that our team values greatly. Our clinical research and professional training experience has shown us the positive impact of bringing a new clinical tool to physicians. We are excited to explore the potential of emergent psychedelic therapies. Patients deserve more options, and to be assured of the safety and efficacy of their treatments; similarly, physicians deserve answers and are a critical partner in the development of this new therapeutic class," says Erin Prosk, President of Santé.

Training will be provided within the research program for licensed practitioners to assess the safety of psychedelic medicines and to classify and report positive and adverse events. Wake and Santé will create a portfolio of resources for all licensed practitioners that will include the pillars of safe and effective use including informed consent, harm reduction, patient monitoring and ongoing support.

ABOUT WAKE NETWORK, INC.

Wake Network Inc. is a fungi bioscience company focused on advancing, through research, the field of psychedelic and fungi-based therapeutics. To address the growing need for psychedelic-assisted mental health support in medicine and society at large, Wake has partnered with academics, governments and best-in-class mycologists around the world. Wake is currently developing fungus-derived psilocybin and medicinal mushroom products and is making advancements in the engineering of novel psychedelic biologics, while working on proving out their safety through proprietary genetics-based integration therapies. 

ABOUT SANTÉ CANNABIS

Santé Cannabis is a leading medical clinic and research centre dedicated to medical cannabis treatments and complementary medicines. With four clinics in Quebec, Canada, and a network of over 4,000 referring doctors, the multidisciplinary team of physicians and nurses of Santé Cannabis have collected data from, and delivered education to, over 10,000 patients since 2014, through their peer-reviewed world-leading model of care.

Established as Canada's first independently accredited cannabis Contract Research Organization (CRO) with experience developing and executing cannabis clinical trials, Santé Cannabis is an experienced clinical trial site. They have completed successful healthcare professional training programs in more than five unique countries and are recognized as a university teaching site. Santé Cannabis is at the forefront of safe and supported patient access to complementary medicines.

Caution Regarding Forward-Looking Information

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are "forward-looking statements." Forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. 

Forward looking statements are based on certain assumptions regarding the Company, including but not limited to expected growth, results of operations, performance, industry trends and growth opportunities. While the Company considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to: dependence on obtaining and maintaining regulatory approvals, including federal, provincial, municipal, local or other licences, to operate and expand the Company's facilities;  the Company's limited operating history and lack of historical profits; reliance on management; the Company's requirements for additional financing and the effect of capital market conditions and other factors on the availability of capital; competition, including from more established or better financed competitors; the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers; the Company's ability to conduct the clinical trials that it intends to;  the ability of the Company to discover new and/or more effective options for patients to treat their conditions; the development and implementation of medical protocols and treatment standard operating procedures for the use of psychedelic therapies; the Company's ability to successfully withstand the economic impact of COVID-19; the medical benefits, safety, efficacy, dosing and social acceptance of psychedelics; and the cultivation and harvest of psilocybe mushrooms; and any other factors or developments that may hinder the market or the Company's growth. 

These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

SOURCE Wake Network, Inc.

For more information about Wake please visit our website www.wake.net or contact: Nick Murray, CEO, Wake Network, E:[email protected], Tel: [phone]; Investor Relations, Wake Network, E:[email protected], Tel: [phone]; Press Contact, Krupa Consulting, E:[email protected]