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Mydecine Innovations Group Inc. is a forefront biotechnology company focused on revolutionizing mental health and addiction treatment. They have received a Notice of Allowance from the USPTO for their MYCO-005 compound, a novel psilocin analog engineered to reduce side effects and address valvular fibrosis concerns. This breakthrough compound, with selective binding to 5-HT2A receptors, offers potential heart-safe microdose-enabling properties, making it a safer alternative for those suffering from anxiety or depression disorders.
The company is dedicated to pioneering safer and more effective solutions for mental health and addiction disorders, emphasizing innovation and research in the field of biotechnology. They provide turnkey growing infrastructure and services for licensed growers and processors of marijuana crops to support the farming industry, showcasing a commitment to advancing agriculture and biotechnological advancements.
Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) has announced its upcoming annual general and special meeting scheduled for September 20, 2021. Shareholders will vote on a special resolution for a spin-out transaction enabling Mydecine to transfer its U.S. Cannabis Subsidiaries to a newly formed entity, Spinco, in exchange for 2,500,000 shares. Post-transaction, Mydecine will focus exclusively on mental health solutions through psilocybin research. The process is contingent on shareholder and court approvals, with an expected completion date around September 27, 2021.
Mydecine Innovations Group has entered a five-year research agreement with Johns Hopkins University to explore therapeutic uses of psychedelics, led by Dr. Matthew W. Johnson. This collaboration aims to expand research on smoking cessation and other mental health treatments. Mydecine's CEO, Josh Bartch, and Chief Scientific Officer, Rob Roscow, emphasized the long-term potential of this partnership in advancing psychedelic medicine, particularly for nicotine dependence, which significantly impacts public health.
Mydecine Innovations Group (NEO: MYCO) reported significant advancements in its psychedelic-assisted drug development during Q2 2021. The company identified four novel drug candidates prior to Pre-IND meetings with the FDA and Health Canada. It discovered over 40 potential pharmacologically active compounds in mushrooms, enhancing its drug development pipeline. The launch of Mindleap 2.0 aims to facilitate the adoption of psychedelics in mental health. Financially, the net loss decreased to $3.8 million, down from $4.6 million in Q2 2020, while cash reserves stood at $7.0 million as of June 30, 2021.
Mydecine Innovations Group (NEO: MYCO, OTC: MYCOF) announces CEO Josh Bartch's participation in two virtual investor events in August 2021. He will present at the BTIG Biotechnology Conference on August 10 at 3:00 p.m. ET and the Canaccord Genuity's 41st Annual Growth Conference on the same day at 10:00 a.m. ET. Mydecine focuses on research and development of nature-sourced medicine and psychedelic-assisted therapy, backed by a robust R&D pipeline and a fully cGMP certified manufacturing facility. The company aims to enhance mental health treatment and vitality.
Mydecine Innovations Group (MYCOF) has filed a new patent for MDMA-like compounds, enhancing its drug development program focused on alternative medicine. This filing aims to improve the safety and efficacy of entactogenic compounds in psychotherapy, particularly for PTSD. The company has access to a cGMP-certified facility and is advancing its pipeline, which includes MYCO-001 through MYCO-004. Mydecine is also progressing in Phase 2A clinical trials for psilocybin-assisted therapy for veterans.
Mydecine Innovations Group (OTC: MYCOF) is set to launch Mindleap 2.0, a virtual health platform aimed at fostering the responsible adoption of psychedelics for mental health, on July 30, 2021. The updated platform features a comprehensive media library, community engagement options, and secure video support sessions with specialists. Mindleap aims to enhance users' mental health journeys while supporting advanced patient care for clinical trials. Mydecine is focused on developing innovative, nature-sourced therapeutic solutions for mental health issues.
Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) has announced the selection of substance use disorder and smoking cessation as target indications for its psychedelic molecule, MYCO-004. This transdermal patch-delivered tryptamine compound aims to address the high demand for effective treatments, with approximately 19.7 million adults in the U.S. suffering from substance use disorders. Current nicotine treatments are inefficient, and the market for such treatments is projected to reach $13.6 billion by 2026. MYCO-004 is a second-generation drug improving on earlier iterations like MYCO-001, which shows an efficacy rate of 85% in trials.
Mydecine Innovations Group (NEO: MYCO, OTC: MYCOF), a biopharma company focused on alternative medicine, announced that CEO Josh Bartch will speak at the ROTH Healthcare Private Company Forum on June 28, 2021. He will participate in the panel, Next Wave of Psychedelic Drug Developers, at 11:00 a.m. ET. Mydecine is investing in psychedelic-assisted therapies and has a robust R&D pipeline. The company operates a cGMP certified facility for active mushroom compound research and is committed to mental health solutions. For more details, visit mydecine.com.
Mydecine Innovations Group (NEO: MYCO, OTC: MYCOF) announced its new in-silico drug discovery program in collaboration with the University of Alberta, led by Dr. Khaled Barakat. This AI/machine learning initiative aims to accelerate drug screenings and identify strong therapeutic candidates from a vast library of molecules. The program enhances Mydecine's research capabilities in developing nature-sourced psychedelic therapies, allowing for more efficient development of effective treatments. CEO Josh Bartch emphasized the transformative potential of AI in drug discovery.
Mydecine Innovations Group (MYCOF) announces significant progress in psilocybin research, identifying over 40 new pharmacologically active compounds from various mushroom species. This research, led by Senior Scientist Duff Sloley, reveals compounds that may offer therapeutic benefits, potentially advancing psychedelic-assisted medicine. Mydecine's integrated R&D facilities enable efficient compound discovery and testing, positioning the company as a leader in developing nature-sourced pharmaceuticals. The firm emphasizes its commitment to innovative solutions for mental health challenges through robust R&D and strong governance.
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