Mycotopia Therapies (OTC Pink: TWGL) announces the formation of PsyBioMed – Australia, a joint venture with Natural MedTech, aiming to conduct clinical trials for psychedelics to treat mental illness. The partnership plans to establish a R&D laboratory and GMP manufacturing facility in Victoria. With over 3 million Australians currently using antidepressants, the initiative focuses on producing cGMP psychedelics and conducting research to validate their efficacy. The Australian government has allocated $15 million for related studies, indicating strong support for the development of psychedelic therapies.
Mycotopia Therapies (OTC Pink: TWGL) has announced the establishment of a new subsidiary, PsyBioMed, which focuses on producing biosynthetic compounds for psychedelics. The aim is to manufacture, license, and sell genetically optimized yeast to produce these compounds at 70-90% lower production costs. PsyBioMed seeks to enhance the affordability and accessibility of psychedelic therapies for mental health disorders and addictions. The joint venture, 51% owned by Mycotopia and 49% by Biomedican, plans to conduct clinical trials to improve drug delivery systems and patient outcomes.
20/20 Global, Inc. (OTC Pink: TWGL) announced its application to FINRA for a corporate name change to Mycotopia Therapies Inc., along with a stock symbol change to MYCO. The firm aims to enhance its brand identity in the psychedelic therapy sector, focusing on treating mental health issues such as anxiety and depression. Additionally, the company is pursuing DTC eligibility to facilitate electronic share transfer for U.S. investors. Current shareholders are not required to take action in response to these changes.