Mycotopia Therapies (20/20 Global) to Launch PsyBioMed, a Biosynthetic Compound, a Biotech Company for the Global Production of Psychedelics

Rhea-AI Summary

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.

Positive

• PsyBioMed aims to reduce production costs of psilocybin by 70-90%.
• The biosynthetic compounds will be pharmaceutically pure and identical to natural strains.
• The partnership with Biomedican leverages proven technology with four patents pending.
• The demand for high-quality synthetic psilocybin for clinical use is increasing.

Negative

• Potential challenges in establishing manufacturing processes for new compounds.
• Clinical trials may face delays affecting the timeline for product availability.

Pharmaceutically pure biosynthetic compounds are expected to be promising contenders to replace synthetic and plant-extracted psychedelics.

MIAMI, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Mycotopia Therapies (20/20 Global, Inc.), (OTC Pink: TWGL), a company focused on psychedelic therapies, is establishing a biosynthetic compound subsidiary known as PsyBioMed, a Global Company. PsyBioMed will be involved in the manufacturing, licensing and worldwide sale of genetically optimized yeast to produce Psychedelics. These biosynthetic compounds are expected to be pharmaceutically pure and 100% identical to Psychedelics strains found in nature at a fraction of the cost of cultivated plant material, making them promising contenders to replace synthetic and plant-extracted analogs.

PsyBioMed plans to decrease the production costs of psilocybin by 70-90%. PsyBioMed also plans to contribute to accelerating research and development of psychedelics for various mental health disorders, chronic pain and addictions, while helping the industry become more sustainable over the long term by making psychedelic care accessible and affordable to everyone in need of it globally. The long term goal of PsyBioMed is to produce the best quality psychedelic molecules, lowering costs and making them accessible to academic research organizations, pharmaceutical companies and various healthcare institutions globally.

PsyBioMed aims to improve bioavailability by developing technologies and delivery systems to potentially achieve the desired medicinal effects of psychedelics at low dosage levels. The delivery systems are expected to be studied through sponsored clinical trials to confirm the primary focus is on the development of treatment regimens, which consists of proprietary psychedelic molecules and related clinical protocols. This proprietary development strategy is based on chemical modifications to the known and well understood tryptamine derivatives that significantly modify their pharmacokinetic properties without changing their therapeutic potential. These proprietary approaches seek to minimize inter-patient variability by better controlling drug metabolism without loss of efficacy that together have been shown to produce more predictable and favorable patient outcomes. The demand for high quality synthetic psilocybin for clinical use is greater than ever. As the sector grows so will the need for better, more cost effective, large scale production.

PsyBioMed will be 51% owned by 20/20 Global through its Mycotopia subsidiary and 49% by Fremont California based Biomedican www.biomedican.com, with the profits being split equally between 20/20 Global and Biomedican. Biomedican has developed a proven technology with 4 patents pending for producing high value compounds utilizing its Organic Biosynthesis Platform. The joint venture (the "JV") between the two companies will be organized as a Florida limited liability company to manufacture, license and sell genetically optimized yeast to produce Psychedelics. The biosynthetic compounds produced by Biomedican are expected to be pharmaceutically pure and 100% identical to Psychedelics strains found in nature at a fraction of the cost of cultivated plant material, making them promising contenders to replace synthetic and plant-extracted analogs. PsyBioMed is in the process of assembling and recruiting a leading team to help the Company research, develop and build an integrated technical platform and comprehensive toolset aimed at delivering psychedelic inspired medicines and experiential therapies combined with biosynthetic compounds.

Biomedican has developed a unique patented method of producing pharmaceutical-grade, 100% organic, non-GMO rare cannabinoids, including CBG, CBGA, THCV, THCVA, CBN, CBNA, and high-value compounds, like Astaxanthin using a proprietary organic biosynthesis platform at 70-90% lower cost than conventional methods. These patented biosynthetic methods use yeast fermentation to ensure the efficient production of high-quality compounds. In contrast to chemically synthesized compounds, the compounds produced by Biomedican are 100% organic, non-GMO biosynthetic products identical to those extracted from plants. These proprietary yeast based compounds are optimized to offer higher purity products than typically found in nature at a lower cost than competing biosynthetic methods. Biomedican and its officers have been featured, or quoted, in news sources like Forbes, NASDAQ, Bloomberg, Reuters, BioFuels Digest, and Axios.

Ehave (EHVVF) will provide data gathering and sharing to PsyBioMed to help the Company research, develop, and build an integrated technical platform and comprehensive toolset with the goal of delivering psychedelic inspired medicines and experiential therapies. The digital therapeutics services provided by Ehave will enable real time information in clinical trials, while providing a clearer understanding of the impact on patient outcomes.

Dennis O’Neill, President of Biomedican said, “There is a significant amount of interest globally in new therapies utilizing psychedelics for the treatment of depression, anxiety, alcoholism and terminal illness. Biomedican has developed a biosynthesis platform where we can produce these compounds pharmaceutical grade at significantly less cost. We are excited to partner with Mycotopia which is on the forefront of developing these treatments and medical distribution networks internationally.”

Dr. Manideep Gopishetty, PsyBioMed Chief Medical Officer comments “All promising biotech companies never reach their full potential for lack of understanding the importance of affordability of the molecules they are planning to develop. We at PsyBioMed want to not repeat the same mistakes as other biotech companies and re-engineered our production process of psychedelics molecules to make it affordable and accessible for all people in need globally.”

Mycotopia Therapies (20/20 Global, Inc.), CEO Ben Kaplan said, "Since starting Mycotopia Therapies, our vision has been to, not only help quantify the impact psychedelic assisted has on patient populations, but to build and develop products that improve people's daily living – in ways they can feel and understand for themselves. PsyBioMed not only reflects the years of research and development by Biomedican that will make this vision a reality, it lays the groundwork for the many future products we're working on at Mycotopia Therapies."

Ehave controls approximately 75.77% of the outstanding shares of Mycotopia Therapies (20/20 Global). Mycotopia Therapies (20/20 Global) has filed with FINRA to change the name of the 20/20 Global to Mycotopia Therapy. Biomedican is a privately owned company.

About Mycotopia Therapies (20/20 Global)

Mycotopia Therapies Inc. provides psychedelic therapies through technology-focused, data-driven, and medical-based solutions for people dealing with anxiety, depression, bipolar disorders, PTSD, ADHD, autism, and addictions. With a primary focus of helping you heal and reclaim your life, Mycotopia Therapy endeavors to guide individuals through their journey of healing. This is accomplished by acquiring 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. The company operates as a subsidiary of Ehave, Inc. Additional information on Mycotopia Therapy can be found on the Company’s website at: https://www.mycotopiatherapies.com.

About PsyBioMed

PsyBioMed is a psychedelic research biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. This proprietary development strategy is based on chemical modifications to the known and well understood tryptamine derivatives that significantly modify their pharmacokinetic properties without changing their therapeutic potential. PsyBioMed is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances. PsyBioMed is assembling a team of professionals with extensive biopharmaceutical experience to assist in the company’s groundbreaking approach to developing the next-generation of psychedelic inspired medicines and therapies.

About Biomedican

Biomedican is a Biosynthesis Platform focused Scientific Cannabinoids Therapeutics and other high-value compounds. The company is based in Fremont, California that produces Pharmaceutical Grade, Bio-Identical plant-derived compounds that provide building blocks for the global pharmaceutical, health and wellness, and consumer packaged goods industries. Biomedican's patented low-cost methods of growing high-value compounds at scale with proprietary yeasts increases purity and reduces production costs by 70-90%. Biomedican's current focus is in the production of Cannabinoids for the treatment of pain, anxiety, obesity, brain disorders, among other significant indications. Biomedican's team of expert PHD scientists has a proven track record of patenting and developing manufacturing technologies for high purity compounds using Biosynthesis and genetics. For more information, go to www.biomedican.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

FAQ

What is the purpose of PsyBioMed?

PsyBioMed focuses on producing biosynthetic compounds for psychedelics, aiming to enhance affordability and accessibility for treating mental health disorders.

How much does PsyBioMed plan to reduce psilocybin production costs?

PsyBioMed plans to reduce psilocybin production costs by 70-90%.

What is the ownership structure of PsyBioMed?

PsyBioMed is 51% owned by Mycotopia Therapies and 49% by Biomedican.

What advantages do biosynthetic compounds have over traditional methods?

Biosynthetic compounds are expected to be pharmaceutically pure and identical to natural strains, produced at a fraction of the cost.

What is the stock symbol for Mycotopia Therapies?

The stock symbol for Mycotopia Therapies is TWGL.