NeonMind (NEON.C) receives thumbs up from Health Canada on Mindful Blend

NeonMind Biosciences (NEON.C) announced that they have received approval from Health Canada on the product license application for their ‘Mindful Blend’ functional mushroom product.

The Mindful Blend functional mushroom is formulated to support memory and cognitive function, support the immune system, increase energy, combat stress, and reduce inflammation and is made with 100% plant extracts.

The Mindful Blend is not a psychoactive product, relying instead on functional mushrooms for health benefits. However, even though they are not psychoactive, functional mushrooms still require approval from Health Canada as Natural Health Products (NHP).

“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.

While most other mushroom companies focus on mental health issues like depression, substance abuse, or anxiety, NeonMind is aiming to tackle obesity using mushrooms. Obesity is expected to cost the Canadian healthcare system an astounding $8.8 billion in 2021, which is more than $200 per person in Canada.

While most people associate mushrooms with mind-altering experiences, the physical reaction in places in the body like the gut can have a big impact, as they are an effective anti-inflammatory. But they do also help with the mental side of obesity, helping people break out of unhealthy attitudes towards food or intense cravings for unhealthy meals. NeonMind has filed 5 US provisional patents related to the https://e4njohordzs.exactdn.com/wp-content/uploads/2021/10/tnw8sVO3j-2.pngistration of psychedelic substances to aid in weight loss, treat obesity and its complications, reduce food cravings, treat compulsive eating disorders and alter the diets of individuals.

While the development of psychedelic treatments is regulated much more tightly, the functional mushroom side of things provides an alternative source of revenue. The global functional mushroom market is expected to reach $78.7 billion USD by 2025, growing at a CAGR of 9.5%. Selling a health food in a growing market allows NeonMind to bring in revenue before any psychedelic treatments are approved.