The Company will seek Orphan Drug Designation to significantly reduce time to market
Vancouver, BC – HAVN Life Sciences Inc. (CSE: HAVN) (OTC: HAVLF) (FSE: 5NP) (the “Company” or “HAVN Life”), a biotechnology company pursuing standardized extraction of psychoactive compounds and the development of natural healthcare products, is pleased to announce the completion of the previously announced acquisition of clinical stage intellectual property (“IP”) from Bolt Therapeutics (the “Acquisition”). With this Acquisition, HAVN Life is working towards substantiating a patent application after which preclinical work can begin.
The IP consists of a combination of BOL-148, which has demonstrated potential for treating cluster headaches in a human study, and a neuroprotectant that is believed to act in unison with BOL-148. BOL-148, an unrestricted compound, is an analogue of LSD that does not produce the same psychotropic effects, making it a promising candidate for a new therapy.
“This acquisition opens a new chapter for HAVN Life in a clinical setting, positioning us at the forefront of the development of new and innovative therapies to support brain health,” remarked Vic Neufeld, HAVN Life’s Executive Chairman. “While our focus continues to be on building our supply chain capabilities in the psychedelic space, this acquisition demonstrates our multifaceted approach to exploring evidence-driven solutions that optimize human potential,” he added.
HAVN Life’s research team will explore ways to optimize the patient experience with the neuroprotective agent used in combination with BOL-148, which previously showed a signal of efficacy in a peer reviewed human study. The team will begin conducting preclinical studies to assess the efficacy of this combination, paving the way for future clinical trials. At the same time, HAVN Life is eager to work alongside patient advocacy groups to increase awareness of this condition—some 300,000 patients in the US suffer from cluster headaches, and about 60,000 deal with chronic pain as a result. Despite these numbers, there is only one approved treatment for the condition, making it an area of massive unmet need.
The combination of the Company’s formulation, clinical, regulatory and IP strategies is designed to expedite the time to market, reduce the clinical burden and generate periods of market exclusivity. In the near term, HAVN Life will be focused on substantiating the patent application with data from animal model and formulation studies and filing a Patent Cooperation Treaty application. The Company intends to launch the new drug within 4 years.
In consideration for the IP, the Company paid to Bolt Therapeutics $1,000,000 and issued: (i) 10,596,027 common shares, which shares will be subject to an escrow arrangement whereby one-sixth (1/6) of such shares will be released from escrow every three (3) months following completion of the Acquisition; and (ii) 5,298,013 common shares upon the satisfaction of certain milestones in respect of the IP.
On Behalf of The Board of Directors
Chief Executive Officer
About HAVN Life Sciences Inc.
HAVN Life Sciences is a Canadian biotechnology company pursuing standardized extraction of psychoactive compounds, the development of natural health products, and innovative mental health treatment to support brain health and enhance the capabilities of the mind. Learn more at: havnlife.com and follow us on Facebook, Twitter, Instagram and Youtube.
LinkedIn: @Havn Life