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Mydecine Innovations Group (NEO: MYCO, OTC: MYCOF) reported Q3 2021 results, announcing a significant 5-year research agreement with Johns Hopkins University to advance smoking cessation studies using its lead candidate, MYCO-001. This agreement marks a historic moment as it's the first U.S. government-funded psychedelic study in over 50 years. The net loss for Q3 2021 was $4.5 million, significantly down from $17.4 million in Q3 2020. The company holds $1.6 million in cash and aims for FDA meetings in early 2022 to expedite treatment development for mental health issues.
Mydecine Innovations Group (NEO: MYCO) has announced Dr. Rakesh Jetly's participation in a panel on psychedelic therapy for veterans, scheduled for November 10, 2021. The event, aiming to explore treatments like MDMA and psilocybin, is organized by Reconsider and Horizons PBC at Judson Memorial Church in NYC, with virtual access worldwide. Dr. Jetly emphasized the company's commitment to providing advanced therapies for veterans facing mental health issues. Alberta's Associate Minister of Mental Health, Mike Ellis, supports these therapies as legitimate solutions.
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.
Mydecine Innovations Group (MYCOF) has filed a technology patent for nanoemulsion formulations aimed at improving the delivery and efficacy of natural medicines. This technology, which enhances bioavailability, is pivotal for Mydecine's drug development, particularly in microdosing. CEO Josh Bartch highlighted the strategic importance of this patent in opening new licensing opportunities and reaching consumers through retail and wellness markets. The company combines traditional medicinal ingredients with modern technology to address mental health issues, including PTSD and addiction.
Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) has been featured in an editorial by NetworkNewsWire, highlighting the potential of psilocybin in smoking cessation amidst a public demand for effective cessation methods. The company aims to address unmet medical needs in mental health and addiction through innovative therapeutics. Established in 2020, Mydecine focuses on developing treatments for PTSD, depression, and anxiety while leveraging psychedelic research to create new medicines. For further insights, readers are encouraged to view the full publication.
Mydecine Innovations Group (NEO: MYCO, OTC: MYCOF) will participate in Microdose’s Wonderland: Miami on November 8-9, 2021, at the Adrienne Arsht Center in Miami, FL. This biotechnology company focuses on innovative treatments for mental health disorders and addiction, including PTSD, depression, and anxiety. Mydecine aims to bridge the gap in mental healthcare by developing novel therapeutics using advanced technology and drug development practices. Interested parties can schedule one-on-one meetings with management for further discussions.
Mydecine Innovations Group (NEO: MYCO, OTC: MYCOF) has synthesized a novel psilocin analogue aimed at enhancing safety and efficacy for medical use. This addition to their library of patent-pending tryptamines aligns with their strategy to improve drug development candidates. The synthesis demonstrates their capability in drug chemistry and supports their AI-driven drug discovery program, developed in collaboration with Applied Pharmaceutical Innovation. This advance strengthens their pipeline for psychedelic-based therapeutics targeting mental health issues.
Mydecine Innovations Group (NEO: MYCO, OTC: MYCOF) has announced CEO Josh Bartch will present at the KCSA Psychedelics Investor Conference on October 14, 2021, at 1:30 p.m. ET. The event will be hosted on VirtualInvestorConferences.com from October 13-14. Interested participants can register for attendance here. Mydecine is a biopharmaceutical company focused on treating mental health disorders and addiction, dedicated to developing innovative therapeutics using psychedelic therapy.
Mydecine Innovations Group (MYCOF) has announced its lead drug candidate, MYCO-001, will be supplied for a groundbreaking multi-site smoking cessation study at Johns Hopkins University, New York University, and the University of Alabama Birmingham. Funded by a NIDA grant, this is the first U.S. government-backed study of a psychedelic for therapeutic use in over 50 years. The Phase 2/3 trial, projected to start in Q1 2022, aims to gather further efficacy and safety data for MYCO-001, which previously showed six-month abstinence rates as high as 80% in earlier trials.
Mydecine Innovations Group (OTC: MYCOF) has successfully completed the spin-out of its U.S. cannabis assets into ALT House Cannabis Inc. (SpinCo). Each shareholder received one new Mydecine share and 0.010300 SpinCo shares. The spin-out aims to comply with NASDAQ listing requirements by removing an obstacle presented by U.S. cannabis assets. Mydecine will now focus on developing end-to-end mental health treatments, leveraging its R&D capabilities for safe, FDA-approved solutions, while SpinCo aims to monetize its cannabis projects. New shares began trading on October 1, 2021.