Zylorion Announces Filing of U.S. Provisional Patent For Novel Second-Generation Psilocybin-Based Compound

CALGARY, AB, July 14, 2022 /CNW/ -  PsiloTec Health Solutions Inc., operating as Zylorion Health, ("Zylorion" or the "Company"), a precision mental health care and psychedelic therapy focused innovator, is pleased to announce the filing of the Company's third provisional patent application with the United States Patent and Trademark Office ("USPTO").

The provisional patent application covers the composition of matter of Zylorion's novel psilocybin-based compound, ZYL-314, for the treatment of mental health disorders and other central nervous system conditions and cognitive disorders.

"Our clinical team has been working tirelessly with our research partners on the development of novel second generation and industry leading compounds, and we are extremely excited about this discovery," commented Dr. Peter Silverstone, Chief Executive Officer. "ZYL-314 is truly unique and achieving this milestone demonstrates Zylorion's commitment to bringing innovative new therapies to market and creating long-term shareholder value through a strong portfolio of intellectual property assets".    

The Company continues to gather the necessary data and evidence to support the claims and conversion of the composition of matter provisional patent and anticipates filing an application under the PCT (Patent Cooperation Treaty) within the next twelve months.    

Zylorion is a biotech company engaged in the development and delivery of integrated precision mental health therapies to address psychological and neurological mental health conditions. Zylorion is focused on the research, development and commercialization of psychedelic-based compounds coupled with novel therapeutic treatment programs targeting a continuum of mental health conditions, such as MDD (major depressive disorder), TRD (treatment resistant depression), PTSD (post-traumatic stress disorder), general depression, anxiety disorders, and a number of addictive tendencies. Zylorion aims to leverage leading technologies to support the scalability and accessibility of its integrated therapy programs in its mission to enable those experiencing mental health challenges to thrive.

This news release contains statements that constitute forward-looking information ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

SOURCE Zylorion