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VANCOUVER, BC, Oct. 9, 2020 /CNW/ - Nova Mentis Life Science Corp. (CSE: NOVA) (FSE: HN3Q) (OTCPK: LIBFF) ("NOVA" or the "Company") is pleased to announce it has signed a non-binding letter of intent ("the LOI") to acquire 100 percent of the issued and outstanding securities of privately-held Pilz Bioscience Corp. ("Pilz") by way of a share exchange or other such business combination as deemed appropriate (the "Transaction"). Pilz is a research driven biotechnology company that aims to develop medicinal psychedelics for neuroinflammatory conditions with a significant cognitive component and high unmet therapeutic needs. Pilz's focus is on Autism Spectrum Disorder (ASD), and its initial research has centred on developing a unique and proprietary system for diagnosing and treating ASD, with first-in-class psilocybin-based therapeutics. "We are pleased with the strides we have made thus far in advancing our research mandate relating to psilocybin and its potential use in Autism Spectrum Disorder," said Derek Ivany, CEO of Pilz. "This partnership with NOVA should allow us to, not only capture synergies across their current psilocybin research platform, but also to fast-track our access to the capital markets. We look forward to working closely with Will Rascan, Nova Mentis' CEO and Jacqueline McConnell, who recently joined Nova Mentis as COO bringing over twenty years of experience working for one of Canada's largest pharmaceutical companies, Apotex Inc." "It takes considerable resources and capital to develop psilocybin-based therapeutics and the combination of our two companies bring greater value in our pursuit," stated Jacqueline McConnell, COO of NOVA. "Together, I am confident we can build a diversified healthcare business with the potential for scale. We look forward to working with Dr. Marvin Hausman to advance our psilocybin-based therapeutic research and our broader focus in the health and wellness sector." The Pilz research and development program is led by the distinguished Dr. Marvin S. Hausman MD. Dr. Hausman is an Immunologist and Board-Certified Urological Surgeon with more than 30 years of drug research and development experience with various pharmaceutical companies, including Bristol-Myers International, Mead-Johnson Pharmaceutical Co., E.R. Squibb, Medco Research, and Axonyx. "There is a definite complementary synergistic research fit between Nova Mentis and Pilz with respect to our clinical interest in the human microbiome system and the gut-brain axis for development of neuroinflammatory disorders," said Dr. Hausman. "Both of our companies are actively researching the anti-inflammatory effects of psilocybin on metabolic disorders. By combining our efforts, I believe we can develop psilocybin-based therapeutics in a faster and more efficient basis." Dr. Hausman is well-supported in his research efforts at Pilz, by Dr. Julia Perederiy, an established research neuroscientist, and Dr. Viviana Trezza, Head of Pharmacology, Roma Tre University, Rome, Italy. The goal of both scientists is to investigate the brain mechanisms underlying functional and dysfunctional socio-emotional behavior, especially in Autism Spectrum Disorder (ASD).

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