Mydecine Partners with Combat Stress to Treat Post-Traumatic Stress Disorder in Veterans

Rhea-AI Summary

Mydecine Innovations Group has announced a partnership with Combat Stress and King's College London to further clinical trials involving MYCO-001, aimed at treating PTSD in veterans. This collaboration will explore the use of psilocybin in psychoactive-assisted psychotherapy for veterans suffering from severe PTSD resistant to conventional treatments. Professor Dominic Murphy will lead the study, which addresses a significant unmet need in mental health treatment. The partnership highlights Mydecine's commitment to developing novel therapies for mental health disorders, particularly among veterans.

Positive

• Partnership with Combat Stress and King's College London to expand clinical trials for MYCO-001.
• Study led by recognized expert Professor Dominic Murphy, enhancing credibility.
• Focus on treating severe PTSD in veterans, addressing significant unmet need.
• Support for innovative therapies in mental health, potentially leading to marketable solutions.

Negative

• None.

Study further supports the expansion of clinical trials of MYCO-001 for the treatment of PTSD among the Veteran population

DENVER, Jan. 24, 2022 (GLOBE NEWSWIRE) -- Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company”), a biotechnology and digital technology company aiming to transform the treatment of mental health and addiction disorders, today announced a partnership with Combat Stress (Combat Stress) and the King's College London to utilize psilocybin as part of a psychoactive-assisted psychotherapy treatment for post-traumatic stress disorder (PTSD) in veterans. Combat Stress will be one of several sites for Mydecine’s upcoming clinical trials.

Combat Stress is the leading charity aiding veterans’ mental health in the United Kingdom, providing treatment and support to former servicemen and women for over a century. They provide a range of online, community, outpatient and residential specialist mental health services to veterans with complex mental health issues related to their military service.

Professor Dominic Murphy, Head of Research at Combat Stress and President of the UK Psychological Trauma Society, has been named a Principal Investigator for the study which will utilize Mydecine’s lead psilocybin drug candidate, MYCO-001, as an adjunct to psychotherapy to treat severe PTSD in veterans that has otherwise been resistant to traditional forms of therapy. Data collected from the study will further advance Mydecine’s drug development pipeline and their ability to bring a much needed novel treatment to market.

“I am truly excited to be leading this study at Combat Stress,” stated Professor Murphy. “We know that the gold standard treatments for PTSD, provided by Combat Stress and other organizations, work for most veterans. However, for a minority, their symptoms do not improve. This collaboration offers great potential for research focused on new, innovative therapeutics that offer significant opportunities to bring hope to those veterans still living with the trauma of their military experiences.”

Mydecine Chief Medical Officer, Dr. Rakesh Jetly, said, “The team is thrilled to be conducting studies within the veteran population where the help is needed most. During my 31 years as a medical officer and psychiatrist in the Canadian Armed Forces, I have seen first hand the impact PTSD has on our vets and their families. Sadly, many soldiers and veterans do not respond to the evidence-based treatments readily available to them and the search is on for new safe and effective treatments. Our troops fight and sacrifice together, so it only makes sense that we help them heal together.”

Mydecine CEO, Josh Bartch, said, “This partnership serves as another significant opportunity to expand our clinical trials and deliver on our mission to develop safe and effective alternative medicine people can trust. There is a big unmet need when it comes to treating PTSD and other mental health conditions, especially within the veteran population, and this partnership demonstrates the strong progress we continue to make in bringing psychoactive-assisted psychotherapies to the forefront of the market and bring hope for all those struggling with these conditions.”

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About Mydecine Innovations Group

Mydecine Innovations Group™ (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) 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 Innovations Group was founded in 2020 on the guiding principle that there is a significant unmet need and lack of Innovations in the mental health and treatment environments. Mydecine Innovations Group is dedicated to efficiently developing innovative therapeutics to treat PTSD, depression, anxiety, addiction, and other mental health disorders. Mydecine Innovations Group'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 we treat mental health disorders. Mydecine Innovations Group's vision is to bridge the current gap between what the cognitive healthcare system currently provides with the needs of the patients. Mydecine Innovations Group is headquartered in Denver, Colorado, USA, with international offices in Leiden, Netherlands.

Learn more at: www.mydecine.com and follow the company on Twitter, Instagram, and LinkedIn.

For more information, please contact:

Investor & Media Contact
Morgan Kervitsky, Director of Marketing
(720) 689-4638
contact@mydecineinc.com

On behalf of the Board of Directors:
Joshua Bartch, Chief Executive Officer
contact@mydecineinc.com

For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.

This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company's ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company's products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

FAQ

What is the purpose of Mydecine's clinical trials involving MYCO-001?

The trials aim to evaluate MYCO-001's effectiveness in treating PTSD among veterans, particularly for those not responding to traditional therapies.

Who is leading the MYCO-001 study for veterans?

Professor Dominic Murphy from Combat Stress has been appointed as the Principal Investigator for the study.

What organizations are partnering with Mydecine for the MYCO-001 trials?

Mydecine is partnering with Combat Stress and King's College London for the clinical trials.

When was the partnership for MYCO-001's clinical trials announced?

The partnership was announced on January 24, 2022.

How does MYCO-001 aim to help veterans with PTSD?

MYCO-001 is intended to be used as an adjunct to psychotherapy, focusing on veterans with severe PTSD who have not benefited from standard treatments.