Ontario Brain Institute Increases Investment in Diamond Therapeutics to Accelerate Innovation in Mental Health

TORONTO, Jan. 7, 2021 /PRNewswire/ - Emerging psychedelic drug development company Diamond Therapeutics has received new investment from the Ontario Brain Institute (OBI), a not-for-profit organization that accelerates discovery and innovation, benefiting both patients and the economy. An early believer in Diamond's precision, low-dose approach to psychedelic therapies, OBI provided the company with funding in 2019. Now, OBI has more than doubled its investment. Proceeds will support a clinical trial of low-dose psilocybin intended to begin in early 2021, pending Health Canada approval. The investment is in the form of a convertible debenture. About Diamond  Diamond Therapeutics is a psychedelic drug development company based in Toronto. Our mission is to develop new and better therapies for mental health conditions by unlocking the promise of psychedelic compounds. Diamond's focus is developing and commercializing sub-perceptual, non-hallucinogenic treatments that hold potential for use across a broad patient cohort — maximizing the positive impact better drugs can have on the global mental health crisis. To learn more about Diamond, visit us at www.diamondthera.com.
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