Wednesday, 08 December 2021

Canada approves NeonMind's Functional Mushroom Formulation ‘Mindful Blend’

18 August 2021 | News

The global Medicinal Mushroom market is expected to reach US$78.7 billion by 2025

Photo Credit: NeonMind Biosciences

Photo Credit: NeonMind Biosciences

NeonMind Biosciences Inc., integrated drug development and wellness company focused on the potential therapeutic uses of psilocybin for treating obesity and weight management conditions, shared that Health Canada has approved its application for Product License NPN 80111611, the ‘Mindful Blend’ functional mushroom product.  Mindful Blend uses 100% plant-based extracts and is formulated to support memory and cognitive function, support the immune system, increase energy, combat stress, and reduce inflammation.

Natural Health Products (NHP) require and undergo a rigorous review by Health Canada’s Natural Health Product Directorate (NHPD) to ensure the safety and efficacy of the product. NeonMind’s consumer products do not contain any psychoactive or restricted substances.

“The approval from Health Canada allows us to market the proven benefits of our functional mushroom ingredients, differentiating the NeonMind brand as we introduce additional products across the U.S. and Canada. Our consumer products division allows NeonMind to further our reach into the massive functional food market. We continue to meet our strategic operational timelines while also supporting our research and development initiatives,” said Rob Tessarolo, President and CEO of NeonMind.

NeonMind’s consumer products division includes four dietary supplements in the United States designed to support memory, cognitive function, and relieve stress, four mushroom-infused coffees in Canada and three additional functional mushroom formulas under NHP review with Health Canada.

According to Data Bridge Market Research, the global Medicinal Mushroom market is expected to reach US$78.7 billion by 2025, from US$38.1 billion in 2017 growing at a CAGR of 9.5% during the forecasted period of 2018 to 2025.

In addition to its consumer products division, NeonMind’s pharmaceutical division is engaged in the research and development of drugs and treatments for obesity and obesity-related diseases using psychedelic compounds.

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