MAPS and Wesana Health resume negotiations
CHICAGO and TORONTO, December 14, 2021 (GLOBE NEWSWIRE) – Wesana Health Holdings Inc. (âWesanaâ or the âCompanyâ) (CSE: WESA; OTCQB: WSNAF), a data-driven life science company, is pleased to announce the receipt of a business viability analysis conducted by the Boston Consulting Group (BCG) that validated and will accelerate Wesana’s partnership discussions with the Multidisciplinary Association for Psychedelic Studies (MAPS) and MAPS Public Benefit Corporation (MAPS PBC). The parties will move forward with negotiating their definitive agreement to study the use of MDMA-assisted therapy to treat symptoms associated with traumatic brain injury (TBI).
âThis analysis brings us one step closer to partnering with Wesana to conduct research on the potential of MDMA-assisted therapy in the underserved population with TBI,â said MAPS Executive Director Rick Doblin, Ph.D. This market analysis makes the arguments even more convincing for our partnership. “
Daniel Carcillo, CEO of Wesana Health added, âReceiving favorable results in the BCG commissioned report by MAPS is a critical step in what will be the first of its kind collaboration between MAPS and Wesana, facilitating our final agreement conversations regarding Therapy. MDMA-assisted for symptoms of TBI.
The BCG report foresees an environment that is always favorable to this collaboration. If a definitive deal is reached, it should speed up the parties’ tracing timelines and provide additional support to MAPS for further investigation, advocacy, education, and equitable access to MDMA-assisted therapy for symptoms of TBI.
Carcillo continued, âWith the overall reported cost of TBI in the order of approximately $ 76.5 billion per year in the United States according to the Centers for Disease Control and Prevention, the market is ripe for a new solution. We remain committed to this important work as we move towards our goal of MDMA-assisted therapy for symptoms of TBI and would love to provide meaningful help to victims, families, friends and communities whose lives have been affected. affected by TBI.
About Wesana Health
Wesana Health helps people transcend barriers when it comes to mental health and performance. We innovate in the development of care through our proprietary therapies and protocols, and in the delivery of care by activating a new multidisciplinary clinical model supported by technology. Learn more at www.wesanahealth.com
Founded in 1986, MAPS is a 501 (c) (3) nonprofit research and education organization that develops medical, legal and cultural contexts for people to benefit from the prudent use of psychedelics and marijuana. . MAPS sponsors research into the world’s most advanced psychedelic therapy: the Phase 3 clinical trials of MDMA-assisted therapy for PTSD. Since its founding, MAPS has raised over $ 130 million for psychedelics and marijuana research and education and has earned both the Guidestar Platinum Transparency Seal and a 4-star rating from Charity Navigator.
ON CARPS PUBLIC ADVANTAGE CORPORATION
MAPS Public Benefit Corporation (MAPS PBC) catalyzes healing and wellness through the development of psychedelic drugs, therapist education programs, and the sale of prescription psychedelics, all while prioritizing the public good over profit. Founded in 2014, MAPS PBC is a wholly owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), a 501 (c) (3) non-profit organization.
Caution regarding forward-looking information
This press release contains “forward-looking information” within the meaning of securities laws applicable to the Company, including the conclusion and timing of entering into a partnership with MAPS and information regarding the expected benefits thereof. ; and any other statement that may predict, foresee, indicate or imply future plans, intentions, levels of activity, results, financial position, operational or financial performance or achievements. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is planned”, “budget”, “planned”, “estimates”, “forecasts”. “,” “Intends”, “anticipates”, “will”, “projects” or “believes” or variations (including negative variations) of these words and expressions, or statements that certain actions, events , results or conditions âmayâ, âcouldâ, âwouldâ, âcouldâ or âwillâ will be taken, will occur or will be carried out. With the exception of statements of historical fact, the information contained in this document constitutes forward-looking information. Forward-looking information is not a guarantee of future performance and is based on a number of management’s estimates and assumptions at the date the statements are made.
The formation of a partnership between the Company and MAPS remains at a preliminary stage. Certain assumptions which influence the successful formation of such a partnership include: (i) the ability of the Company to successfully negotiate and enter into final documentation regarding the contemplated partnership with MAPS and to meet all related conditions precedent; and (ii) the Company’s ability to raise sufficient additional capital to be able to finance such a potential partnership with MAPS.
Other general assumptions include, operating conditions remaining favorable, including the continued availability of third party service providers and other inputs for the Company’s operations; sustained political and regulatory stability; and lasting stability in capital goods markets.
Although the Company considers the above assumptions to be reasonable, the assumptions are inherently subject to significant business, economic, social, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could result in performances, achievements, actions, events, results or conditions are materially different from those projected in the forward-looking information. Many assumptions are based on factors and events beyond the control of the Company and there can be no assurance that they will prove to be correct.
In addition, this forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual performance, achievements, actions, events, results or conditions of the Company to be materially different from any performance, achievement. , action, events, results or conditions expressed or implied by this forward-looking information. These factors include, but are not limited to: the inability to negotiate, settle, enter into or execute a definitive partnership agreement with MAPS; the inability to raise sufficient additional capital to fund such a potential partnership with MAPS; the research and development of drugs targeting the central nervous system being particularly difficult; competition from other biotechnology and pharmaceutical companies; maintain and improve the reputation and recognition of the brand; ability to protect intellectual property; requirements for sharing intellectual property with service providers; negative operating cash flow and going concern; the negative impact of future losses and negative cash flows from operations; advertising or unfavorable consumer perception; fail to meet publicly announced milestones; psychedelically inspired drugs may never have been approved as drugs; drawing on the skills and experience of key leaders and scientists; disruptions due to acquisitions or collaborations; Covid-19[FEMALE;litigation;lesconflitsd’intÃ©rÃªts;historiqued’exploitationlimitÃ©;expositionÃ lafluctuationdestauxdechange;theexÃ©cutiondesjugementsetlasignificationdesactesdeprocÃ©dureauxadministrateursetdirigeants;lesconditionsgÃ©nÃ©ralesdel’Ã©conomiedumarchÃ©etdesaffairesetd’autresfacteursderisqueycomprisceuxtrouvÃ©sdanslerapportdegestiondelasociÃ©tÃ©pourlespÃ©riodesdetroisetneufmoisclosesles30septembre2021et2020etlanoticeannuelledelasociÃ©tÃ©datÃ©edu3septembre2021dÃ©posÃ©eleleprofildelaSociÃ©tÃ©surSEDARÃ l’adressewwwsedarcometdiscutÃ©danslesautresdocumentspublicsdelaSociÃ©tÃ©disponiblessurSEDAR[FEMININE;litige;lesconflitsd’intÃ©rÃªts;historiqued’exploitationlimitÃ©Â ;expositionÃ lafluctuationdestauxdechange;l’exÃ©cutiondesjugementsetlasignificationdesactesdeprocÃ©dureauxadministrateursetdirigeantsÂ ;lesconditionsgÃ©nÃ©ralesdel’Ã©conomiedumarchÃ©etdesaffairesetd’autresfacteursderisqueycomprisceuxtrouvÃ©sdanslerapportdegestiondelasociÃ©tÃ©pourlespÃ©riodesdetroisetneufmoisclosesles30septembre2021et2020etlanoticeannuelledelasociÃ©tÃ©datÃ©edu3septembre2021dÃ©posÃ©eleleprofildelaSociÃ©tÃ©surSEDARÃ l’adressewwwsedarcometdiscutÃ©danslesautresdocumentspublicsdelaSociÃ©tÃ©disponiblessurSEDAR
Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be as anticipated, estimated or anticipated. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Therefore, readers should not place undue reliance on forward-looking information. Forward-looking information is provided and made as of the date of this press release and the Company does not undertake any obligation to revise or update any forward-looking information other than that required by applicable law.
For more information please contact:
Email: [email protected]
Nick Opich / Fallon Carter
KCSA strategic communication
Email: [email protected]
On behalf of the Board of Directors:
Daniel Carcillo, President and CEO