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PurMinds invests in psychedelic drug company IMIO Life

By Brian Buntz | July 6, 2021

Purminds/IMIOPrivately-held PurMinds BioPharma (Burlington, Ontario, Canada), which specializes in developing therapies for neurodegenerative diseases, has completed a strategic equity investment in IMIO Life Ltd., a subsidiary of Tel Aviv–based Nextage Therapeutics Ltd. (TASE:NXTG).

While IMIO Life Ltd. is focused on developing psychedelic-based therapeutics, PurMinds notes that its collaboration with the company will focus on optimizing the delivery and bioavailability of both psychedelic and non-psychedelic drug candidates. The partnership will also draw on Nextage Therapeutics’ expertise with patented brain-targeting liposome system (BTLS) delivery technology.

The companies believe the patented technology liposomal drug delivery system can optimize the delivery of active pharmaceutical ingredients past the blood-brain barrier while decreasing the delivery of those ingredients outside the brain.

PurMinds and IMIO will split development costs and intellectual property based on the partnership.

The partnership will also draw on the capabilities of Nextage Therapeutics’ parent company, an Israel-based full-service, cGMP-compliant drug development company.

About The Author

Brian Buntz

The pharma and biotech editor of WTWH Media, Brian is a veteran journalist with more than 15 years of experience covering an array of life science topics, including clinical trials, drug discovery and development and medical devices. Before coming to WTWH, he served as content director focused on connected devices at Informa. In addition, Brian covered the medical device sector for 10 years at UBM. At Qmed, he overhauled the brand’s news coverage and helped to grow the site’s traffic volume dramatically. He had previously held managing editor roles on two of the company’s medical device technology publications. Connect with him on LinkedIn or email at bbuntz@wtwhmedia.com.

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