Mycotopia Therapies Issues CEO Letter to Stockholders, Reports on Significant Progress and Outlook for 2021
Mycotopia Therapies (TPIA) announced key advancements in its strategic plan, establishing itself as a biopharma company focused on psychedelic-derived medicines. The company secured DTC eligibility for enhanced liquidity, signed a supply agreement with Havn Life Sciences for naturally-derived psilocybin, and signed letters of intent for partnerships to develop water-soluble psychedelics. Plans include opening psilocybin and ketamine clinics in Jamaica, addressing mental health crises. The company aims to recruit a top-tier board to lead its mission of revolutionizing mental health treatment.
- Secured DTC eligibility, enhancing liquidity for shareholders.
- Entered a supply agreement with Havn Life Sciences for naturally-derived psilocybin, accelerating revenue generation.
- Signed LOI for the development of a water-soluble tablet for psychedelics, improving formulation stability and performance.
- Plans to open psilocybin and ketamine clinics in Jamaica, focusing on mental health treatment.
- None.
Mycotopia Therapies looking to unlock the full potential of psychedelic-derived medicines; Create Active Pharmaceutical Ingredient (API) for magic mushroom
MIAMI, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Mycotopia Therapies Inc., (OTC Pink: TPIA) (the “Company”), announced today that Ben Kaplan, President, Chief Executive Officer and Chairman, has issued a letter to Mycotopia Therapies' stockholders. The full text is as follows:
To My Fellow Stockholders,
Over the course of 2021, Mycotopia Therapies has made significant progress in advancing our strategic plan and hit several key milestones in our journey. From a corporate standpoint, we are a fully reporting company with the SEC and have completed a name and symbol change to better reflect our company. We have also secured DTC eligibility by The Depository Trust Company ("DTC") for electronic settlement and transfer of our common shares in the United States, in an effort to enhance shareholder liquidity.
With these basic changes to the public company side of Mycotopia Therapies, we are now moving forward as a biopharma company focused on the discovery and early development of novel drug candidates, structurally related to the classic psychedelics but with vastly improved pharmaceutical characteristics and commercial potential.
Mycotopia Therapies recently entered into a supply agreement with Havn Life Sciences (CSE: HAVN) (OTC Pink: HAVLF). The terms of the agreement call for Havn Life Sciences to supply Mycotopia Therapies with naturally-derived psilocybin. Under the terms of the agreement, Mycotopia Therapies is classified as a specialty pharmaceutical company focused on the research, development, and commercialization of novel therapeutics for unmet needs. The benefit of this Psilocybin Supply Agreement is that it enables Mycotopia Therapies to get to the distribution and revenue generation phase of our business plan much faster.
Mycotopia Therapies has signed an LOI with a major manufacturer encompassing the IP for a water-soluble tablet for all psychedelics. This will give our Company the ability to develop robust formulations by eliminating uncontrolled stability variables, while focusing solely on therapeutic performance and clinical outcome.
In addition, Mycotopia Therapies entered into a separate LOI to license IP from a public company focused on mushroom and psychedelic opportunities. This licensing agreement will provide us with a process that is similar to those used by Compass, MindMed, and Atai, which allow any psychedelic and delivery into the human body.
Mycotopia Therapies is currently working with one of the largest cannabis labs in the Netherlands to develop psychedelics. In our partnership we intend to jointly apply to the to the government to license certain molecules to be used in psychedelics. Our counterpart in the Netherlands collaborates with scientists, universities, pharmacies and innovative companies to garner a complete and unrivalled understanding of psychedelics. An innovative and vertically integrated phyto-pharmaceutical company with 25-years’ experience the company collaborates with leading scientists, pharmacists and doctors. Mycotopia Therapies will benefit from many years of activities in the fields of research, production and processing of both cannabinoids and psychedelics. We believe their years of knowledge and experience will result in high quality, safe and reliable products.
Our future plans call for opening psylocibin and ketamine clinics in Jamaica. The clinics will be under the direction of a licensed clinical psychiatrist. Mental health is the national health crisis everyone should be concerned about, since rates of anxiety, depression and PTSD keep climbing. Mycotopia Therapies' psylocibin and ketamine clinic will be designed to make the most peaceful and serene setting possible to give patients an ideal situation for psychedelic therapies. The primary focus of each clinic will be to help patients heal and reclaim their life under the direction of a licensed clinical psychiatrist.
Psychedelics are currently being used during therapy to better understand the pathway to mental wellness. During psychedelic enhanced psychotherapy many patients find that situations from their past are uncovered. To be able to fully benefit from what surfaces, a structured approach is needed. With the assistance of a licensed clinical psychiatrist, these psychedelics experiences can help patients understand the thoughts and feelings they uncover. Jamaica's peaceful and serene setting and its relaxed life style make it a perfect place for a psychedelic enhanced psychotherapy.
I believe psychedelic-based medicine has the potential to revolutionize the way we treat mental health issues. Mycotopia Therapies is committed to creating psychedelic-derived medicines that will better the lives of millions. We intend to recruit a world-class Board of Directors and Medical Advisory Board that has the expertise and passion necessary to not only achieve that objective, but to help us become a leader in the field.
I would like to thank you for your continued support along this journey and look forward to sharing more good news with you soon.
About Mycotopia Therapies
Mycotopia Therapies focuses on helping you heal and reclaim your life. Your journey of healing is an understanding of the causes and works to mental wellness through psychedelic enhanced psychotherapy, integrated with a professional team of mental wellness practitioners and cutting-edge technology. Psychedelic therapy is a holistic and spiritual approach providing healing and has shown successful treatment for many years. Additional information on Mycotopia Therapies can be found on the Company’s website at: https://www.mycotopiatherapies.com.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading "Risk Factors" in 20/20 Global, Inc.’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC's website, http://www.sec.gov.
Contact for 20/20 Global and Ehave
Media Inquiries: Gabe Rodriguez
Email: Gabe@Ehave.com
Investor Relations:
Email: Ir@Ehave.com
Phone: (623) 261-9046
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