MIRA Pharmaceuticals Announces Paradigm-Shift in Cognitive Enhancement with MIRA1a

– Dr. Adam Kaplin Reveals Pioneering Neuropsychiatric Advancements at the University of Louisville –

BALTIMORE, Nov. 21, 2023 /PRNewswire/ -- MIRA Pharmaceuticals, Inc. (NASDAQ: MIRA) ("MIRA" or the "Company"), an innovative pre-clinical-stage pharmaceutical company, today revealed groundbreaking insights into the cognitively enhancing effects of MIRA1a in normal mice during a presentation at the University of Louisville's Christine Lee Brown Envirome Institute's Grand Rounds from Dr. Adam Kaplin, MD, Ph.D., President and Chief Scientific Officer of MIRA Pharmaceuticals and Adjunct Faculty member at the Johns Hopkins School of Medicine.

Dr. Kaplin's presentation covered his research on psychotropic drug development, specifically examining the contrasting properties of THC and MIRA1a, a novel, cutting-edge THC analog.

Key Findings from Dr. Kaplin's Presentation:

"The revelation of MIRA1a's dramatic cognitive enhancement potential acutely after even a single dose marks a seismic shift in neuropsychiatric research," said Dr. Kaplin, MD, Ph.D., President and Chief Scientific Officer of MIRA. "This discovery positions MIRA Pharmaceuticals at the forefront of transformative developments in psychotropic drug innovation."

Erez Aminov, Chief Executive Officer of MIRA, added: "At MIRA Pharmaceuticals, we are committed to seizing industry-defining opportunities. The immense market potential lies ahead as we focus on anxiety and neuropathic pain within the traditional $90+ billion traditional neurological markets¹."

Implications and Future Prospects:
Dr. Kaplin's findings propose a revolutionary approach to cognitive impairment treatment, particularly in early dementia. MIRA1a's consistent therapeutic effects, even at high doses, positions it as a promising candidate for the treatment of neuropsychiatric diseases such as dementia.

Investors and stakeholders are encouraged to explore the profound implications of this research, solidifying MIRA Pharmaceuticals as a trailblazer in the evolving landscape of psychotropic drug development.

About MIRA Pharmaceuticals, Inc.

MIRA Pharmaceuticals, Inc. (Nasdaq: MIRA) is a pre-clinical-stage pharmaceutical development company developing an unscheduled novel synthetic THC analog. This novel compound is currently under investigation for treating adult patients suffering from anxiety and cognitive decline, often associated with early-stage dementia. MIRA1a, if approved by the FDA, could mark a significant advancement in addressing various neuropsychiatric, inflammatory, and neurologic diseases and disorders. Based on pre-clinical and animal studies conducted by the Company, the Company believes that MIRA1a may enhance the therapeutic potential for treating anxiety, cognitive decline, and neuropathic pain without the side effects of plant-based THC. Furthermore, the Company's studies indicate that MIRA1a may counteract the adverse cognitive effects often seen with THC, thereby potentially unmasking previously unseen positive therapeutic effects, such as cognitive performance enhancement.

The U.S. Drug Enforcement Administration (DEA)'s scientific review of MIRA1a concluded that MIRA1a would not be considered a controlled substance or listed chemical under the Controlled Substances Act (CSA) and its governing regulations.

Additional information about the Company is available at: www.mirapharmaceuticals.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release may contain forward-looking statements about MIRA Pharmaceuticals, Inc. ("MIRA," "we," "us," or "our"). In some cases, you can identify forward-looking statements by terminology such as "anticipate,' "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will" or "would," or the negative of these terms or other comparable terminology. These forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond our control, including risks and uncertainties regarding our ability to develop and obtain regulatory approval for our product candidate, MIRA1a. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause our actual results, levels of activity, performance or achievements of and those of our industry to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Some of these risks and uncertainties are identified in our Registration Statement on Form S-1 filed with the SEC (File No. 333-273024) and in our other filings with the SEC, which are available at www.sec.gov. You should not place undue reliance on any forward-looking statement. We undertake no obligation to update or revise publicly any of the forward-looking statements after the date hereof to conform the statements to actual results or changed expectations except as required by law.

General Note

This press release discusses a product candidate that is in early stage pre-clinical development and has not yet been approved for marketing by the U.S. Food and Drug Administration. No representation is made as to the safety or effectiveness of this product candidate for the uses for which it is being studied. There is no assurance that the product candidate will proceed through development or will receive FDA approval for marketing.

¹ Source: IQVIA Analysis, IQVIA Global Uses of Medicine Report – 2022 and 2023, Mira Analysis

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SOURCE MIRA Pharmaceuticals, Inc.