MYND Life Sciences Acquires Rights for the Use of Psychedelics to Treat Alzheimer's Disease and other Dementias.
MANews-(C)2009-2021
Canada-based medical biotech drug research and development company MYND Life Sciences Inc. (CSE: MYND) (OTC: MYNDF) has closed on the acquisition of the right, title and interest in and to the intellectual property rights for the use of psychedelics to treat Dementia from Canadian life sciences company Cava Healthcare Inc, the company said.
The acquisition includes all future worldwide rights relating to the use of psychedelics to treat Alzheimer's disease and other dementias.
On closing MYND issued 450,000 common shares to Cava at a deemed price of USD 0.85 per share and made a cash payment of USD 120,000 as consideration for the Acquired Assets.
In addition, MYND shall pay to Cava an annual royalty equal to the greater of: USD 240,000; or 4% of the net sales of any product or service which directly or indirectly incorporates the Acquired Assets to any third...
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