Bright Minds Announces Positive Topline Data for Potential Psychosis and Addiction Treatment

Bright Minds Biosciences Inc. (Nasdaq: DRUG) has announced the successful completion of its three-part Phase 1 study of BMB-101. The study, conducted in Adelaide, Australia, evaluated the safety, tolerability, pharmacokinetic, and food effect in healthy volunteers. BMB-101 demonstrated an excellent safety and tolerability profile. 5-HT2C target engagement was demonstrated by transient, dose-dependent increases in prolactin.

BMB-101 is being developed for the treatment of refractory epilepsies and other indications, such as psychosis, addiction, and impulse control disorders.

Commenting on the news, Bright Minds Chief Executive Officer, Ian McDonald described the important opportunity and unmet need to develop improved treatments for devastating indications, including psychosis and addiction disorders.

Mr. McDonald said, “The successful and on-time completion of the study is an important achievement for us, as we continue to evolve from a drug discovery to a drug development stage company. BMB-101 is now a Phase 2 ready asset, and we look forward to sharing our further progress.”

Bright Minds Chief Medical Officer, Mark A. Smith, M.D., Ph.D., said “We are highly encouraged by the Phase 1 study observations and results, which give us confidence in selecting doses of BMB-101 for testing in refractory epilepsies and other disorders where serotonin 2C agonists are indicated. Learnings from the study will inform our path forward as we seek to develop effective therapeutic options with convenient dosing regimens for patients.”

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.