GreenStar Biosciences Announces New Provisional Patent Application

GreenStar Biosciences Announces New Provisional Patent Application

Vancouver, British Columbia–(Newsfile Corp. – September 14, 2020) – GreenStar Biosciences Corp. (CSE: GSTR) (OTC Pink: GTSIF) (“GreenStar” or the “Company“) is pleased to announce that its wholly-owned subsidiary, Eleusian Biosciences Corporation (“Eleusian“) has added another provisional patent application to the overall existing intellectual property (“IP“) portfolio of the Company. This application further expands the portfolio of proprietary psychedelic therapeutics and devices available to GreenStar and strengthens the IP portfolio for treatment of neuropsychiatric disorders with psychedelic compounds.

A new provisional patent application entitled “Facial Worn Device for Administration of Pharmaceutical Agents in Combination with Virtual and Augmented Reality Simulations” was recently filed with the United States Patent and Trademark Office for a facial worn device combining virtual reality (“VR“) glasses for delivery of programmed virtual and augmented reality simulations. This device includes a nasal delivery system for administration of pharmaceutical agents and/or fragrances at preselected dosages and times. Uses include methods and kits for alleviating unwanted memories and emotions lined with post-traumatic stress disorder (“PTSD“) or mild traumatic brain injury (“mTBI“) with PTSD.

The device provides for immersion into a multi-sensory, three-dimensional environment that can simulate various senses such as vision and hearing to guide and enhance the therapeutic effects of one or more pharmaceutical ingredients. The device may be used in a clinical setting or remotely via, for example, wifi where the dosing and VR content can be controlled from a remote distance via wireless connectivity and access to a shared database. In addition to single user applications, multiple devices can be used for group therapy and a therapist or clinician may wear a device along with a single user or group to watch the VR content along with the single user or group. PTSD and traumatic brain injury often coexist because brain injuries are often sustained in traumatic experiences.

Through the VR glasses and VR delivery system, the device would allow for the administration to an individual a psilocybin-derived agent and/or N-acetylcysteine (“NAC“) in combination with the VR therapy, providing an immersive VR involving affective media experiences. The unique abilities of VR technology allow this device to provide experiences such as guided meditations, visual and audio simulations of therapeutic journeys, guided virtual trips to different locations or timelines of past perceived traumatic experiences, and exposure therapy. Combined with nasal administration of one or more pharmaceutical agents such as a psilocybin-derived agent and/or NAC, a user of the device can be guided towards unique combinations of altered states of consciousness including, but not limited to, meditation, trance and dreamlike states, within a safe and therapeutic manner that has positive benefits for the user.

“We continue to build our IP portfolio and this latest patent application further strengthens our overall IP position as we continue to develop our technologies such as virtual reality to enhance our therapies,” said Maghsoud Dariani, CSO of GreenStar. “Virtual reality has previously been shown to have therapeutic effects, and with the addition of carefully dosed pharmaceutical agents at specific times, it is expected that these effects can be taken to a more positive and lasting level.”

“We are very pleased with how quickly Eleusian has been building its IP portfolio and executing its overall patent strategy of not only developing effective therapeutics, but also effective delivery methods,” said Tom Baird, CEO of GreenStar, “The Company believes this new device will be extremely useful in a variety of applications including, but in no way limited to, the treatment of post-traumatic stress disorder and traumatic brain injuries and in the alleviation of stress, fears and/or phobias”.

About GreenStar

GreenStar is a growth-oriented technology & services company that provides real estate, financial, management, IP & branding support to businesses. The Company operates a growing portfolio of tenant partner companies focused on developing transformational medicines and applies refined strategies to help partner companies reach their full potential. Based in Vancouver, BC, GreenStar intends to facilitate growth through acquisitions and development of additional assets, products and technologies by leveraging its capital markets, branding and operational expertise.

For further information please contact:

GreenStar Biosciences Corp.

Thomas Baird, CEO

info@greenstarbiosciences.com

Tel: (604) 834-9499

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward Looking Statements

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including statements regarding the future plans and objectives of the Company, the Company’s expectations surrounding its development of treatments for mTBI and PTSD and development of intellectual property and effective delivery methods and devices for such treatments, the Company’s expansion initiatives and pursuit of M&A activity are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; and that the current Board and management may not be able to attain the Company’s corporate goals and objectives. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63679

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Published at Mon, 14 Sep 2020 12:11:15 +0000

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