BALTIMORE, Sept. 5, 2023 /PRNewswire/ -- MIRA Pharmaceuticals, Inc. (NASDAQ: MIRA) ("MIRA" or the "Company"), a pre-clinical-stage pharmaceutical company focused on the development and commercialization of a novel synthetic THC analog, today announced its strategic partnership with MZ Group ("MZ"), a renowned international investor relations firm.

This collaboration aims to enhance MIRA's visibility within the investment community and spotlight the potential of its drug candidate, MIRA1a, in treating anxiety, cognitive decline, and neuropathic pain.

MIRA Pharmaceuticals dedicates itself to addressing adult patients' treatment challenges with anxiety and cognitive decline typically associated with anxiety disorders including PTSD and Generalized Anxiety Disorder and early-stage dementia. As part of its commitment to effective communication with its stakeholders, MIRA has joined forces with MZ Group, leveraging their expertise and global presence. MIRA aims to expand its presence in key markets through a comprehensive investor relations and financial communications program.

"Our collaboration with MZ Group underscores our commitment to becoming a leader in neurological markets and the expanding cannabis market," said Erez Aminov, Chief Executive Officer of MIRA Pharmaceuticals. "MZ's impressive track record and global network will help us reach a broader audience, enabling us to convey the significant potential of MIRA1a in treating neuropsychiatric, inflammatory, and neurologic disorders."

MZ Group will leverage its global reach to provide MIRA with invaluable insights and strategic guidance. Michael Kim, Managing Director at MZ North America, will advise MIRA Pharmaceuticals on corporate and financial communications. This collaboration will include coordinating roadshows and investment conferences and utilizing various media platforms to amplify MIRA's brand visibility within the investment landscape.

MIRA1a, in its pre-clinical and animal studies, has demonstrated therapeutic benefits by targeting the cannabinoid receptors CB1 and CB2. Unlike marijuana, MIRA1a offers these benefits without the impurities and side effects commonly associated with it, such as increased appetite, paranoia, and cognitive impairment. The promising results obtained from pre-clinical and animal studies indicate that MIRA1a may enhance the treatment of anxiety, cognitive decline, and neuropathic pain.

"Unprecedented among cannabinoid-related drugs is MIRA1a's ability to double the performance of normal mice on tests of memory and learning, which contrasts with THC's known cognitively impairing effects," said Adam Kaplin, MD, PhD, President and CSO of MIRA Pharmaceuticals. "This demonstrates the potential of MIRA1a to restore lost cognition to those with cognitive decline of diverse etiologies."

"We are highly focused on the development of MIRA1a, as we believe it holds immense potential to address the significant unmet needs in the therapeutic landscape," added Mr. Aminov. "MIRA's technology focuses on minimizing the negative effects of THC and opening up new markets for indications and patients. Our key candidate, MIRA1a, is being developed as the first prescription drug to simultaneously target neuropathic pain, anxiety and cognitive impairment while offering the ability to achieve higher potency while maintaining safety and minimizing side-effects. Our dedication to innovation and MZ Group's expertise will enable us to effectively communicate our vision and create long-term value for our shareholders."

About MZ Group

MZ Group is a globally recognized investor relations firm providing comprehensive services tailored to meet the unique needs of its clients. With offices worldwide, MZ Group assists institutional investors, brokers, analysts, and private investors in navigating the complex world of investor relations, raising awareness, and facilitating connections between companies and the investment community.

For more information, please visit www.mzgroup.us.

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.

Forward-Looking Statements

This press release contains forward-looking statements regarding the Company's current expectations. These forward-looking statements include, without limitation, references to the Company's expectations regarding the closing of the public offering and its anticipated use of net proceeds from the offering. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the satisfaction of customary closing conditions related to the public offering, or factors that result in changes to the Company's anticipated use of proceeds. These and other risks and uncertainties are described more fully in the section captioned "Risk Factors" in the Company's Registration Statement on Form S-1, as amended, related to the public offering (SEC File No. File No. 333-273074). Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.