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

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/.

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About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.