VANCOUVER, BC, Jan. 26, 2023 /CNW/ - PanGenomic Health Inc. ("PanGenomic Health" or the "Company") (CSE: NARA), is pleased to announce its subsidiary, MUJN Diagnostics Inc. (formerly named PlantGx Diagnostics Corp.)("MUJN Diagnostics"), has signed a non-binding memorandum of understanding ("MoU") for a diagnostic testing joint venture with Psy Integrated Health Inc. ("Psyi"), a Vancouver-based management services organization DBA Empower Health Wellness Centre.

Under the MoU, Psyi and MUJN Diagnostics will explore the joint development of a brain health targeted biomarker diagnostics service to support clients being treated with ketamine assisted therapy to objectively track the efficacy of their treatment program. Psyi and MUJN Diagnostics hope to initiate a trial biomarker testing adjunct service by March 2023 that will compare biomarker levels before, during and after treatment to track the patient's progress. The goal of this adjunct service will be to collect personalized biomarker data that would assist practitioners in optimizing client treatment plans.

"The proposed joint venture between MUJN Diagnostics and Psyi will aim to help usher in a new platform for integrated healthcare professionals using brain health therapies to more effectively monitor and treat their clients", said Vincent Lum, CEO of MUJN Diagnostics and Co-Founder of PanGenomic Health. "Promising alternative therapies for a variety of brain and mental health conditions, such as the off-label use of ketamine and psychedelics as a part of a structured treatment program, need objective data for practitioners and their clients to track and quantify the efficacy of their treatment."

Patrick Callas, Director of Psy Integrated Health, added, "We are excited to be working with MUJN Diagnostics on a new generation of health diagnostics. Our combined expertise in leading edge alternative healthcare therapies and disease specific biomarker treatment monitoring will seek to provide health care professionals in the field of integrated health with tools to improve patient outcomes."

Terms, including the financial commitments to be made by each of MUJN Diagnostics and Psyi to the proposed joint venture, are still to be determined.   The Company expects to announce additional details regarding the proposed joint venture when a definitive agreement is executed, which is expected in February 2023.  No assurances can be made that the parties will successfully negotiate and enter into a definitive agreement, or that the proposed joint venture will proceed in the timeframe currently contemplated or at all. 

Psy Integrated Health, Inc., with its flagship wellness centre Empower Health located in the heart of Vancouver, BC. Canada, is a clinic management services BC benefit company created to accelerate the development of psychedelic assisted therapeutic treatments and integrated health. Psyi provides innovative treatment modalities for clients with a variety of indications.  More information can be found at www.psyintegrated.com and www.empowerhealth.ca.

MUJN Diagnostics Inc. is a wholly-owned subsidiary of PanGenomic Health Inc. and is focused on developing a decision support system for alternative healthcare providers. MUJN's Decision Support System includes biomarker diagnostics, symptom and treatment tracking, and personalized health analytics, with the goal of empowering healthcare providers and their patients towards better outcomes.

PanGenomic Health is a precision health company that has developed a self-care digital platform to deliver personalized, evidence-based information about natural treatments. The Company's initial focus is to support mental health. Registered as a British Columbia benefit company, PanGenomic Health's mission is to promote and improve the health and wellness of people and society by providing a technology platform that identifies plant-based solutions tailored to the health profile of each individual.

This news release includes certain statements that may be deemed "forward-looking statements", including statements respecting the services to be provided by PanGenomic and the consideration to be paid to PanGenomic. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward looking statements. Although PanGenomic believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because PanGenomic can give no assurance that they will prove to be correct. In particular, there is no assurance that MUJN Diagnostics and Psyi will be able to negotiate satisfactory terms for, and to execute, a definitive agreement for the proposed joint venture, or that MUJN Diagnostics and Psyi will be able to develop the planned trial adjunct service within the timeframes expected, or at all. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in PanGenomic's disclosure documents which can be found under PanGenomic's profile on www.sedar.com.

The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.