New Psychedelic Drug Formula Believed to Work to Mitigate Neurological Damage Due to Stroke, Provisional Patent Application Filed

VANCOUVER, British Columbia, June 19, 2021 (GLOBE NEWSWIRE) — Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company”) is pleased to announce that its wholly owned subsidiary Akome Biotech Ltd. (“Akome”) has commenced the development of a next-generation psychedelic drug formulation for the purpose of mitigating neurological damage that results from ischemic strokes.

Akome’s next generation psychedelic drug formulation for the mitigation of neurological damage resulting from ischemic strokes, also known as AKO001, is comprised of the psychedelic compound N,N-dimethyltryptamine (DMT) and a specific plant bioactive which, when combined together, are believed to work in a complementary and mitigating manner when provided to individuals immediately following their ischemic stroke. A provisional matter of composition patent application for AKO001 has been filed with the United States Patent and Trademark Office (USPTO) under application 63147343.

Ischemia is a condition in which the blood vessels become blocked, and blood flow is stopped or reduced. When blood flow is diminished to a body part, that body part also does not receive adequate oxygen. Most strokes are ischemic by nature, and blood flow through the artery that supplies oxygen-rich blood to the brain becomes blocked, and brain cells begin to die. Ischemic stroke is the 3rd most common cause of death and the leading cause of disability worldwide in adults. ¹The World Health Organization estimates that 17.9 million people die from stroke worldwide each year.

Akome’s specifically chosen plant bioactive and DMT are an ideal combination of compounds for mitigating the neurological damage caused by ischemic strokes. The bioactive shows evidence of promoting positive apoptotic processes (biological processes that occur in multicellular organisms, where a cell intentionally “decides” to die, or remove itself from an organism), and the DMT induces the formation of glial cells (a type of supportive cell in the central nervous system involved in regulating homeostasis and providing protection to the functioning of the nervous system). These complimentary functions could theoretically optimize in vivo replacement of neurons after neural injury, such as a stroke.

Akome is in process of identifying Contract Research Organizations (CROs) to work with as it sets the development process of its novel AKO001 psychedelic drug formulation and its advancement for the treatment of stroke.

“Our goal with the development of AKO001 is to reduce the damage from the number of life long disabling symptoms that can occur after experiencing a stroke. We look forward to continued development on this front and providing updates to the medical community on our progress.” stated Joel Shacker CEO of the Company.

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.

Joel Shacker
Chief Executive Officer

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Cautionary Disclaimer Statement:

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with strict regulatory regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

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