DENVER, April 07, 2021 (GLOBE NEWSWIRE) – Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company”), an emerging biopharmaceutical and life sciences company committed to the research, development and acceptance of natural alternative medicines for consumer use, has announced its four new drug candidates as the Company prepares for its New Drug Pre-Investigation (IND) meetings with the FDA and Health Canada.
“Our first four new drug candidates are on our long-term strategic drug development roadmap with regular milestones that iteratively add value over time. By increasing the complexity of these compounds, we increase the number of patents filed, which in turn also adds pharmaceutical value to the drug candidates, ”said Joshua Bartch, co-founder and CEO of Mydecine Innovations Group. “The promise of these molecules is undeniable. By providing scalable and more stable compounds and delivery mechanisms for research and development, it means that new treatments for previously incurable mental illnesses are within reach. “
The four initial drug candidates include:
- MYCO – 001 is pure psilocybin from natural fungal sources. Its target uses include mid to late stage clinical trials.
- MYCO – 002 is an entactogenic compound that was created for the purpose of reducing damage and improving the safety profile compared to traditional MDMA.
- MYCO – 003 is a psilocybin-based formula with reduced anxiety potential, with the aim of eliminating the possibility of “bad trips”, even with seriously ill patients.
- MYCO – 004 is a patch-delivered tryptamine compound. Properties include short duration (~ 2 hours), transdermal dosing, accuracy and long term compound stability. Target use is mid-to-late stage clinical trials, taking advantage of current publicly available data.
These drug candidates were developed with the Mydecine research team, led by Mydecine Scientific Director and co-founder Rob Roscow, with the collaboration of Dr Denton Hoyer, drug discovery expert and member of the Scientific Advisory Board. from Mydecine. Mydecine believes that these drug candidates are unique and patentable in the United States and Canada and has received legal advice confirming this belief.
“In addition to Mydecine’s portfolio of natural products, we believe that these natural compounds also provide excellent starting points for new compounds that further meet the requirements of the clinic and have safety, efficacy and formulation properties. improved. Our research focused on molecular design achieves these goals, ”said Dr. Hoyer.
“These candidates add layers of safety and dose-capacity for the use of psychedelic compounds in medical research and possibly medical practice,” Mr. Roscow said. “We are essentially taking the value currently present in natural molecules, such as the psilocybin molecule in MYCO-001, and adding patentable safety features. We want to create compelling functionality for the research community by providing compounds that can enhance therapy, reduce anxiety, and maximize delivery mechanisms. “
About the Mydecine Innovations Group
Mydecine Innovations Group ™ (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) is an emerging biotechnology and life sciences company dedicated to the development and commercialization of innovative solutions to address mental health issues and improve vitality. The company’s world-renowned medical and scientific advisory board builds a strong R&D pipeline of naturally occurring psychedelic-assisted therapies, novel compounds, treatment protocols and unique delivery systems. Mydecine has exclusive access to a cGMP certified pharmaceutical manufacturing facility with the ability to import / export, cultivate, extract / isolate and analyze active compounds from fungi with full government approval by Health Canada. Mydecine is also operating out of a state-of-the-art mycology lab in Denver, Colo. To focus on genetic research to develop commercial cultivation of rare (non-psychedelic) medicinal mushrooms.
At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s top accredited research organizations demonstrating its remarkable clinical efficacy. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader in the spectrum of clinical trials, research, technology and global supply. Mydecine has also successfully completed several acquisitions since its creation.
For more information please contact:
Anne Donohoe / Nick Opich
KCSA strategic communication
1-212-896-1265 / 1-212-896-1206
Charles Lee, Investor Relations
Allison Soss / Erika Kay
KCSA strategic communication
On behalf of the Board of Directors:
Joshua Bartch, Managing Director firstname.lastname@example.org
For more information on Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.
This press release contains forward-looking information within the meaning of Canadian securities laws concerning the Company and its activities, which relate to future events or future performance and reflect the current expectations and assumptions of management. Often, but not always, forward-looking information can be identified by the use of words such as “expect”, “intend”, “anticipate”, “believe” or variations (including negative variations) of such words and expressions, or state that certain actions, events or results “may”, “could”, “would” or “will” be undertaken, occur or be achieved. These forward-looking statements reflect the current beliefs of management and are based on assumptions made by and on information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties which may cause future results to differ materially from those expected, including, without limitation, risks relating to the COVID-19 pandemic, the availability and continuity of funding, the Company’s ability to adequately protect and enforce its intellectual property, the Company’s ability to bring its products into commercial production, the continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive marketplace regarding the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors which could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable securities legislation.