GreenStar Biosciences Announces Filing of Fourth Provisional Patent Application

Fourth Provisional Patent Application Strengthens IP Portfolio of Therapeutics for the Treatment of Mild Traumatic Brain Injuries (mTBI) with PTSD or PTSD alone

Vancouver, British Columbia–(Newsfile Corp. – August 5, 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 filed a new provisional patent application, adding to the overall existing intellectual property portfolio of the Company. This application further expands the portfolio of proprietary psychedelic therapeutics available to GreenStar and strengthens the intellectual property (“IP“) portfolio for treatment of neuropsychiatric disorders with psychedelic compounds.

The new provisional patent application entitled “Methods and Compositions for Treating Post Traumatic Stress Disorder or Mild Traumatic Brain Injury with Post Traumatic Stress Disorder” includes methods and kits for alleviating unwanted memories and emotions lined with post-traumatic stress disorder (“PTSD“) or mild traumatic brain injury (“mTBI“) with PTSD. Individuals in need are administered a psilocybe-derived agent and N-acetylcysteine (“NAC“) in combination with memory-odor imprint pairing. Memory-odor imprint pairing involves eliciting a Pavlovian reaction to an odor by exposure to the odor immediately or shortly after a trauma or electively any time thereafter during memory of the trauma, followed by multiple odor-memory pairing sessions. Elimination of the ability to smell the odor is expected to suppress or eradicate the Pavlovian reaction and therefore also alleviate or eradicate the unwanted negative memories and emotions associated with the trauma.

A novel nasal mist transducer can be used to deliver these agents. The transducer is encompassed under a prior provisional patent application filed by Eleusian in April 2020. The nasal mist transducer provides a simple, efficient and rapid means of delivering one or more pharmaceutical ingredients (such as a psilocybe-derived agent, NAC and an odor used in odor-memory pairing). The fine mist particles enter the nasal cavity vestibule at close proximity to the olfactory bulb where the deep and superficial veins drain directly to the circulatory system of the brain. Such delivery provides for fast absorption with almost instantaneous drug penetration of the blood-brain barrier. The result is superior access of active pharmaceutical ingredients to the brain and enhanced clinical and physiological effects as compared to presently available nasal and non-nasal drug dispensing devices and formulations.

“We continue to build our IP portfolio and this fourth patent application further strengthens our overall IP position as we continue to develop our technologies and work with our collaboration partners at the Miller School of Medicine at the University of Miami,” said Maghsoud Dariani, CSO of GreenStar. “We have taken a strategic approach with our development efforts to ensure all of our IP effectively works together as we develop an entire system for the treatment of mTBI and PTSD. Not only is the Company focused on treatments for mTBI and PTSD, but also developing novel, easy and effective delivery methods for such treatments to be effectively administered. Our latest patent application was developed specifically with the nasal mist transducer in mind. Together, this combination can represent a new and exciting level of treatment for affected persons.”

“We are very pleased with the development efforts at Eleusian and how that has translated into several recent patent applications,” said Tom Baird, CEO of GreenStar. “As many researchers look to develop treatments using psychedelic medicine, the effective treatment must also include a fast, easy and effective delivery method to reach the target sites in the human brain. We believe the IP development initiatives could be ground-breaking for new treatments and delivery methods for treatment of mTBI and PTSD.”

According to the Centers of Disease Control and Prevention (the “CDCP“), traumatic brain injury (“TBI“) is a major cause of death and disability in the United States. According to the CDCP, the number of TBI-related emergency department visits, hospitalizations, and deaths increased by 53% from 2006 to 2014. TBI cases can range from mild to severe. Mild TBI is the most prevalent form of TBI and effects can include physical symptoms such as loss of consciousness, headache, nausea, fatigue, dizziness and others, sensory problems such as blurred vision, ringing in the ears and sensitivity to light and sound, and cognitive or mental symptoms such as memory problems, mood changes and feelings of depression. These issues not only affect individuals with TBI, but can also have lasting effects on families and communities. According to the U.S. Department of Veterans Affairs, National Center for PTSD, about 7-8% of the U.S. population will have PTSD at some point in their lives and about 8 million U.S. adults have PTSD during a given year. PTSD is a mental health condition that can affect anyone, with potentially long lasting effects. PTSD and TBI have similar symptoms and often coexist because brain injuries are often sustained in traumatic experiences and there is increasing evidence that mTBI can increase risk for PTSD.

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:

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GreenStar Biosciences Corp.

Thomas Baird, CEO
info@greenstarbiosciences.com
Tel: (604) 834-9499

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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 effective delivery methods 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.