Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) Leader in Emerging Psychedelic-Assisted Psychotherapy Industry

Rhea-AI Summary

Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) recently highlighted its involvement in a significant NIH-funded clinical trial led by Johns Hopkins University. The study examined the effectiveness of psilocybin in smoking cessation, revealing that 67% of participants remained nicotine-free after 12 months, a stark contrast to traditional methods (10%-35% success). Mydecine is supplying its lead drug candidate, MYCO-001, to support this groundbreaking research, which aims to address mental health issues and addiction through innovative therapeutic approaches.

Positive

• Participation in NIH-funded clinical trial for smoking cessation could elevate MYCOF's market presence.
• High success rate (67%) of psilocybin use in smoking cessation compared to existing methods.
• Supply agreement for MYCO-001 could enhance drug development opportunities.

Negative

• None.

NEW YORK, Nov. 04, 2021 (GLOBE NEWSWIRE) -- NetworkNewsAudio – Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) announces the availability of a broadcast titled, “Breaking the Habit: Psychedelic Stigma Fades as Research Points to Critical Use in Smoking Cessation and More.”

To hear the AudioPressRelease, please visit: The NetworkNewsAudio News Podcast

To view the full editorial, please visit: https://nnw.fm/8YBVv

A small study by Johns Hopkins University published in “Journal of Psychopharmacology” compared smokers trying to quit using cognitive behavioral therapy (CBT) plus varying doses of psilocybin to abstinence rates typically observed in smokers using other medications or CBT alone. The results showed 67% of the participants remained nicotine free at a 12-month follow-up, a substantial increase over success rates for other methods (typically 10% to 35%). ...

Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) is an integral part of this landmark NIH-funded research led by Johns Hopkins, a three-year, multisite smoking cessation study being conducted in collaboration with University of Alabama at Birmingham and New York University. Mydecine will be supplying its lead drug candidate, MYCO-001 (99% pure psilocybin), for use in the clinical trials. The supply agreement, in the words of Mydecine CEO Josh Bartch, “not only offers a significant opportunity to further advance our drug development through safer and more viable results but demonstrates Mydecine’s leadership position in the emerging psychedelic-assisted psychotherapy industry.”

About Mydecine Innovations Group 

Mydecine Innovations is a biotechnology and digital technology company developing innovative first- and second-generation novel therapeutics for the treatment of mental health and addiction through world-class technology and drug-development infrastructure. Mydecine was founded in 2020 on the guiding principle that there is a significant unmet need and lack of innovation in the mental health and therapeutic treatment environments. Mydecine Innovations Group is dedicated to efficiently developing innovative therapeutics to treat PTSD, depression, anxiety, addiction and other mental health disorders. The company’s business model combines clinical trials and data outcome, technology, scientific and regulatory expertise with a focus on psychedelic therapy underpinned by other novel molecules with differentiated therapeutic potential. By collaborating with some of the world’s foremost authorities connected by best practices, Mydecine Innovations Group aims to responsibly fast-track the development of new medicines across its platforms, seeking to effectively treat and ultimately change the way mental health disorders are viewed. Mydecine’s vision is to bridge the current gap between what the mental healthcare system currently provides with the needs of the patients.

For more information about the company, please visit www.Mydecine.com.

NOTE TO INVESTORS: The latest news and updates relating to MYCOF are available in the company’s newsroom at https://ibn.fm/MYCOF.

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FAQ

What is Mydecine Innovations Group's recent clinical trial about?

Mydecine is involved in an NIH-funded clinical trial exploring psilocybin's effectiveness in smoking cessation.

What were the results of the smoking cessation trial involving psilocybin?

The study showed a 67% abstinence rate from nicotine after 12 months, significantly higher than traditional methods.

What is MYCO-001 and its role in the recent research?

MYCO-001 is Mydecine's lead drug candidate (99% pure psilocybin) used in the smoking cessation clinical trials.

How does the involvement in this trial impact MYCOF's stock potential?

Participation in this groundbreaking research may enhance MYCOF's market presence and investor confidence.

Who is conducting the smoking cessation study involving Mydecine?

The study is led by Johns Hopkins University in collaboration with other prestigious institutions.