Champignon Identifies Synthetic Ketamine and Psilocybin/Psilicin Metabolite Targets; Selects Dalriada to Advance IP Portfolio

VANCOUVER, British Columbia, June 08, 2020 (GLOBE NEWSWIRE) — Champignon Brands Inc. (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF), a human optimization sciences company with an emphasis on ketamine and psychedelic medicine, is pleased to announce it has selected Toronto-based Dalriada Drug Discovery Inc. (“Dalriada”) to advance its new chemical entity (“NCE”) IP portfolio as it pertains to ketamine and psilocybin/psilicin molecular scaffolds.

Dalriada, a leading contract research organization (CRO) in the drug discovery space, will lead Champignon’s new drug discovery programs in the NCE arena and further provide integrated R&D support to accelerate the Company’s existing preclinical assets and ongoing development of proprietary delivery platforms. The Company anticipates that through this partnership, a robust pipeline of preclinical and clinical assets with strong IP protection will be delivered.

“It is with great pleasure that we welcome the Dalriada group to Champignon,” commented Dr Joseph Gabriele, Special Advisor, Champignon. “Dalriada’s expertise in medicinal chemistry will be a monumental addition to Champignon’s innovative diverse formulation platforms by their expertise in the synthesis of molecules, including existing psychedelics (ketamine, psilocybin and MDMA), as well as novel new psychedelic-like molecules. This synergistic collaboration will differentiate Champignon from other companies in the psychedelic space by boosting our ability to maintain an inhouse infrastructure for the clinical delivery NCEs.”

“Champignon has developed a comprehensive working arrangement with Dalriada focusing on R&D. Dalriada is aligned with Champignon with respect to quality, efficiency, and their results-oriented approach,” stated Dr. McIntyre, CEO of Champignon. “We are highly confident that our partnership with Dalriada will provide a series of assets that will be available for our near-term, pre-clinical, Phase I and Phase II testing pursuits.”

ABOUT DALRIADA

Dalriada, through its TURN-KEY™ Drug Discovery services model, provides a full suite of drug discovery, medicinal chemistry and intellectual property services for semi-virtual, lean biotechnology clients who focus on developing small molecule therapies. With R&D operations in Mississauga, Canada, Dalriada builds focused teams with expertise in MedChem, Biology and ADME to allow for the most rapid and cost-effective project execution and value building. One of the Dalriada’s niche expertise is in the development of novel covalent therapeutics for which Dalriada developed a proprietary screening platform, spearheaded by its CSO and co-founder, Dr. Patrick Gunning. Learn more: www.dalriadatx.com
“We are excited to support Champignon’s innovative work in advancing the therapeutic applications of ketamine and psilocybin derivatives,” commented Dr. Diana Kraskouskaya, CEO of Dalriada Drug Discovery. “Champignon’s pioneering approach to the use of these agents for the treatment of depression and other indications with high unmet need holds a lot of promise. We are delighted to complement their strong scientific and management team with our expertise in small molecule drug discovery, and help Champignon expand their current asset portfolio.”

About Champignon Brands Inc.

Champignon Brands (CSE: SHRM) is focused on the formulation and manufacturing of novel ketamine, anaesthetics, and adaptogenic delivery platforms for nutraceutical and psychedelic medicine while being supported by a leading psychedelics medicines clinic platform. The Company is pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder (PTSD), as well as substance and alcohol use disorders. Under a collaborative research agreement with the University of Miami’s Miller School of Medicine, the Company is conducting preclinical studies and eventual human clinical trials, with the objective of demonstrating safety and efficacy of the combination of psilocybin and cannabidiol in treating mTBI with PTSD or stand-alone PTSD. Champignon continues to be inspired by sustainability as its medicinal mushroom-infused SKUs are organic, non-GMO, and vegan certified. For more information, visit the Company’s website at: https://champignonbrands.com/.

ON BEHALF OF THE BOARD OF DIRECTORS

Dr. Roger McIntyre
Chief Executive Officer
E: info@champignonbrands.com

FOR INVESTOR INQUIRIES:

Phone Number with Extension:
+1 (833) 375-9995 x611

Champignon Brands | Storyboard Communications
Investor Relations, Toronto, Canada
Investor Line:  +1 (833) 375-9995 x611
E: champignonbrands@storyboardcommunications.com

Tyler Troup
Circadian Group
E: SHRM@champignonbrands.com

FOR CHAMPIGNON BRANDS FRENCH INQUIRIES:

Remy Scalabrini
Maricom Inc.
E: rs@maricom.ca
T: (888) 585-MARI

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, statements we make regarding the speed and effectiveness of our treatments  are “forward-looking statements.” Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, the Company’s requirements for additional financing, and the effect of capital market conditions and other factors on capital availability, the Company’s limited operating history and lack of historical profits; competition; failure of treatments to provide the expected health benefits; unanticipated side effects; dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, state, municipal, local or other licenses; developments and changes in laws and regulations, including increased regulation of the Company’s industries and the capital markets; economic and financial conditions; volatility in the capital markets; engaging in activities that could be later determined to be illegal under domestic or international laws;  failure to obtain the necessary shareholder, government or regulatory approvals, including that of the CSE; and failure to retain, secure and maintain key personnel and strategic partnerships including but not limited to executives, researchers, clinicians, customers and suppliers. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.  There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available.
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