TORONTO, ON/ March 5, 2021 / Psyence Group Inc. (CSE: PSYG) (“Psyence” or the “Company”) is pleased to announce that it has entered into a Service Level Agreement with Singapore-based medical biology, forensic science and product development company Base Pair Global Pte. Ltd. trading as Base Pair Health (“BPH”). BPH develops advanced nutritional and health products for global clients, with a strong focus on organic and naturally occurring ingredients.
Psyence’s world-class medical and scientific team are focused on innovative research and clinical trials in order to develop class-leading psychedelic medicines for the treatment of psychological trauma and its mental health consequences. BPH provides advisory services for new health product design and implementation. BPH develops advanced nutritional products, ranging from supplements, minerals, herbal remedies, vitamins and specialty products, with a strong focus on organic ingredients.
BPH’s research and product development focus has recently targeted the efficacy of naturally derived psilocybin on gene sequence, and its use on dysfunctional neural networks, primarily psilocybin-assisted therapy as a treatment for psychiatric disorders related to anxiety and depression. “We are delighted to announce our collaboration with BPH who have an excellent track record in pharma and health product development,” says Jody Aufrichtig, Chief Executive Officer and Director of Psyence. “Psyence will be pioneering the use of natural psilocybin for the long-term treatment of trauma and its mental health consequences. In BPH we believe we have found the right partners to develop and fine-tune the medicinal formulations and therapies Psyence develops.”
The Company is also pleased to announce the appointments of Dr. Amza Ali and Mr. Kevin Coyne as executives of the Company. Dr. Ali, an existing member of the board of Psyence will move into a more material executive leadership position with the Company as Global Medical Director and BPH is supporting Mr. Coyne’s appointment as Global Commercial Director of Psyence.
Dr. Ali is a graduate of the University of the West Indies subsequently specializing in Internal Medicine. He then trained in Neurology at the National Hospital for Neurology and Neurosurgery, Queen Square, London and is specialty certified in Neurology by the Federation of Royal Colleges of Physicians of the United Kingdom and the Association of British Neurologists. Dr. Ali also completed a clinical fellowship in epilepsy at the Neurological Institute, Columbia University
in New York with certification by the American Board of Clinical Neurophysiology.
He is a fellow of the American College of Physicians, the Royal College of Physicians of London, the American Academy of Neurology and the American Epilepsy Society. He holds an executive MBA from the Rotman School of Management, University of Toronto. For his longstanding commitment to the advancement of epilepsy care, he was appointed a lifetime Global Ambassador for Epilepsy in 2019.
Mr. Coyne is the co-founder of Coyne Healthcare, a leading integrative medicine business based out of Cape Town, South Africa. Mr. Coyne has collaborated with world experts, developing nature-based healthcare products that have been scientifically validated and produced to the highest global standards. Mr. Coyne is also BPH’s lead psilocybin Product Development Advisor.
“Psychedelic therapies show great promise for the long-term treatment of mental health and trauma. We are confident we have found the best team to help us develop naturally derived medicinal products for psychedelic-assisted treatments,” concludes Aufrichtig. Mr. Coyne, and Research Director Mrs. Ashley Rhodes, shall provide the Company with services encompassing the role of business and commercial development, leading to the commercialization of the Company’s products. He will be reporting to the Chief Strategy Officer. Mr. Coyne will assist the Company on day-to-day product development and commercialization matters on behalf of BPH.