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Mydecine CSO Rob Roscow Joins The Dales Report Podcast

Published at TheDalesReport.com

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The Dales Report by Rob Roscow caught up with one of two co-founders and the COO and CSO of Mydecine (NEO: MYCO) (OTCMKTS: MYCOF). In this interview, Roscow shares a little bit about Mydecine’s upcoming phase 2a clinical trials on psylocibin-assisted PTSD treatments, barriers presented by COVID, and the new novel drug candidates.

Here’s some highlights from the interview:

Unlike cannabis, psychedelics will be emerging into the space with the backing of strong research

It’s safe to say that the psychedelics sector has learned a lot from cannabis’ occasionally-painful entry into legalization, but many concede that this is in part because psychedelic legalization is not being driven by recreational use. It’s one of the things that Roscow says is notable about the two industries – that nearly 100% of the interest is around pharmaceutical and medical application of psychedelics.

In relation to that, the amount of resources and investors has scaled tremendously. He mentions specifically is that “…the science that was gradually brought to bear in the cannabis space is being immediately brought to bear in the psychedelics space.” In comparison to cannabis, he says, the number of research dollars – and researchers themselves – are growing about four times as fast as in the cannabis space.

Roscow says that Mydecine’s 2a Clinical Trials on psylocibin-assisted psychotherapy for veterans with PTSD continue

Roscow acknowledges that COVID has created a “headache for all clinical trials globally.” Depending on the local situation, it is hard to see patients. But he also reminds us that Mydecine was actually founded during the pandemic, so they have always been planning their trials with COVID in mind.

Mydecine’s plan to safeguard against risk to the trials is two-pronged, Roscow says. First, the number of different geographic locations will hopefully keep one site or another working, as pandemic levels will not be high at every location at the same time.  Secondly, the smaller trial size means fewer points of contact with fewer patients, which makes it easier to deal with in a quarantine or semi-quarantined situation.

Mydecine novel drug candidates are being deliberately time-staggered, according to Roscow

The recent news about the novel drug candidates has brought up a lot of questions about what the difference is in the compounds and the process that lies ahead. Roscow says that the biggest benefit behind naming Mydecine’s drug pipeline is that it gives the company a framework to explain what is happening with the pipeline behind the scenes to the public. And the reason that they are laid out in a pipeline, he says, is because they’re time-staggered in the amount of time that it will take to go through the regulatory stages for each product.

More on Mydecine’s recently announced compounds can be found here.

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Mydecine Announces Partnership with LeadGen Labs

Published at globenewswire.com

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DENVER, May 05, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine”or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, has announced a partnership with LeadGen Labs, a custom synthesis and contract research organization, to support Mydecine’s novel psychedelic drug development efforts and increase the number of novel molecules the Company can synthesize concurrently.

Following the announcement of the Company’s four initial drug candidates, Mydecine and LeadGen Labs will work to synthesize novel psychedelic molecules. LeadGen Labs, a full-service contract research organization, providing expertise in custom synthesis and route design, will work with the Mydecine research and drug design team to target these novel molecular entities and enhanced formulations, including effective dosages and safety.

“We are experiencing a renaissance of medical interest in the classical psychedelics and Mydecine is working to iteratively improve and better understand the potential therapeutic benefits of these known and unknown molecules,” said Rob Roscow, Mydecine Chief Science Officer. “We are excited to begin production on these novel patent pending molecules that hold the promise of improving the therapeutic use of psychedelics through enhanced safety and dosage control. Additionally, the initial batch of novel molecules we will research represent just the first of numerous families of molecules, representing potentially dozens of patentable compounds.”

“Complementary to Mydecine’s work with the University of Alberta and Applied Pharmaceutical Innovation (API), the partnership with LeadGen Labs expands our existing research infrastructure and allows for more rapid scaling of Mydecine’s drug development pipeline and patent strategy,” added Josh Bartch, CEO of Mydecine. “With the ability to swiftly synthesize and analyze these various families of novel molecules through both partnerships, we are in a strong position to support the latter stages of our drug development pipeline and build upon our intellectual property portfolio that is focused on building upon the value currently present in natural molecules with patentable safety features that will enhance therapy, reduce anxiety and maximize delivery mechanisms.”

About Mydecine Innovations Group

‍Mydecine Innovations Group™ (NEO:MYCO)(OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling 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 best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

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For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com

This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”,“ believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and 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 that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, 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 market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

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Mydecine Innovations Group Inc. (MYCOF) CEO Josh Bartch on Q4 2020 Results – Earnings Call Transcript

Published at SeekingAlpha.com

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Mydecine Innovations Group Inc. (OTCPK:MYCOF) Q4 2020 Earnings Conference Call May 3, 2021 10:30 AM ET

Company Participants

Allison Soss – Investor Relations

Josh Bartch – Co-founder, Chairman and CEO

Dean Ditto – Chief Financial Officer

Operator

Greetings, and welcome to the Mydecine Innovations Group Inc. Full Year 2020 Earnings Conference Call. At this time, all participants are in a listen only mode. A question-and-answer session will follow the formal presentation [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce Allison Soss of Investor Relations. Thank you. You may begin.

Allison Soss

Thank you, operator. Good morning, everyone and welcome to Mydecine’s Full Year 2020 Financial Results Conference Call. Before we begin, I would like to remind you that the comments on today’s call will include forward-looking statements, which by their nature involve estimates, projections, goals, forecast and assumptions, and they’re subject to risks and uncertainties, that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements and certain material factors or assumptions that were applied in drawing a conclusion or making a forecast in such statements. These forward-looking statements speak only as of the date of this conference call and should not be relied upon as projections of future events. Additional information about the material factors and assumptions forming the basis of the forward-looking statements and risk factors can be found in the company’s filings and press releases on SEDAR.

With that, I would like to turn the call over to Josh Bartch, Co-founder, Chairman and CEO of Mydecine.

Josh Bartch

Thanks, Allison and thank you, everyone for joining us today on our earnings call. I’m joined by Dean Ditto, Chief Financial Officer. As this is our first earnings conference call as a publicly traded company, I want to use today’s call as an opportunity to provide everyone with background on Mydecine, including our building leadership position in the biotech and life sciences industry, growth strategy and vision for the many future applications of psychedelic assisted therapies. We founded Mydecine with the goal of revolutionizing the way people live and experience life through innovative solutions for treating mental health problems and enhancing wellbeing. As an emerging biotech and life sciences company, we set out to accomplish this goal through three main verticals: first, research and development of major source psychedelic assisted therapeutics, novel compounds, therapy protocols and unique delivery systems through global clinical trials; second, a robust IP portfolio; third, development of an advanced HIPAA compliant telehealth platform.

To efficiently and quickly establish the foundation for Mydecine, we completed two significant acquisitions in 2020. In June of 2020, we completed the acquisition of Mindleap, a company known for its digital health platform centered around psychedelics. Mindleap’s product design was worked on by a team of neuroscientists, psychotherapists, clinical psychologists, software developers, designers and iOS and Android experts. The Mindleap app tapped into an international network of health specialists to provide customized emotional and wellbeing tracking tools for patients. Since the acquisition, the team has worked diligently to launch Mindleap version 2 with an enhanced experience in remote telemedicine services, which we anticipate this spring. Then, in September of 2020, we completed the acquisition of NeuroPharm Inc., a developer of natural health psychedelic based treatments for PTSD and other serious mental health disorders in veterans and frontline workers. This strategic acquisition not only expanded the company’s research capacity but has helped to advance both site scientific understanding and the availability of naturally sourced psilocybin to research institutions around the globe.

Additionally, we entered into a strategic partnership with Applied Pharmaceutical Innovations, a translational commercial drug development institute, hosted at the University of Alberta’s faculty of pharmacy and pharmaceutical science to further enhance our research capabilities. In June of 2020, we expanded our relationship by entering into an exclusive partnership and research division agreement. Our partnership with API enables Mydecine to field unparalleled studies with precise control and ownership over study design and drug format. We can support multiple drug development and clinical trial programs simultaneously. The end goal is developing products with significantly improved clinical applications over a period of three years. Our research and development capabilities also include Mydecine sponsored studies with several universities, including the first lab based study of established microdosing at Macquarie University in Australia and neuron level response of psilocybin at the University of Maryland.

Lastly, Mydecine completed its own specialized state of the art mycology lab, the first of its type in the country, located at the Mydecine Center of Mycology, MYCOM, in Denver, Colorado. MYCOM was developed not only for the mycology lab but with full cultivation, genetic research, IP, product development, production of all fungi medicinal compound, analytical chemistry, genomics tissue culture and a GMP compliant SOP production processes. With our R&D facilities in place and world class team established, we’ve launched clinical trials in three continents for the Phase 2a study of psychedelic treatments for PTSD in veterans, EMF and first responders with aims to achieve safer and more accurate psychedelic led psychotherapy results in a supervised setting. Most recently, we announced our four lead novel drug candidates: MYCO-001 a pure psilocybin from natural fungal sources; MYCO-002, an entactogenic compound that has been created with the goal of reducing harm and improving the safety profile versus traditional MDMA; MYCO-003, a psilocybin based formula with reduced anxiety potential with the aim of removing the possibility of “bad trip,” even with severely ill patients; and MYCO-004, a patch delivered tryptamine compound with properties that include short duration, transdermal application, precision dosing and long term compound stability.

These drug candidates were developed with the research team at Mydecine along with collaboration from Dr. Denton Hoyer, drug discovery expert and scientific advisory board member. We believe that these identified compounds will provide excellent improvements for additional new compounds, which further meets the demands of the clinic and have improved safety, efficacy and formulation properties. With these four newly introduced drug candidates, we have reached a critical milestone in our company’s development as well as achieving major advancements for the psychedelic therapeutics industry at large. We have successfully identified the compounds that can significantly enhance therapy, reduce anxiety and maximize delivery mechanisms. At Mydecine, we’re using complex compounds to increase the value of these cannabis and also allow us to develop unique patent pending applications in the US and Canada. As we continue to build upon a robust R&D pipeline, we remain focused on building a robust IP portfolio to lead the advancement of psychedelic assisted psychotherapy.

At this time, we have seven patent applications that represent thousands of inventions with multiple layers of protection on the company’s proprietary drug development pipeline. A key driver of our first mover status in the research and development of psilocybin mushrooms is our unique opportunity to source these mushrooms. During the fourth quarter of 2020, we achieved another significant milestone, completing the first ever international commercial harvest and export of legal psilocybin mushrooms for our research and cultivation facility in Jamaica to Canada in completing our first harvest of 20 kilograms of psilocybin mushrooms. This is one of the first steps in sourcing quality products for our research and development at scale. Our ability to access increasing quantities of these valuable molecules will be paramount to our company’s growth and we are excited to be the first to advance this movement at scale.

It is our expert team that has been quickly and quietly building one of the most innovative companies in the psychedelic spaces. We brought together a collection of passionate business leaders, scientists, mental health professionals and technology visionaries. Along the way, we have added some key members who I’d like to highlight next. First, Dr. Denton Hoyer, a drug discovery expert, joined our scientific advisory board in June of 2020. Dr. Hoyer has been involved in drug discovery at leading pharmaceutical companies, such as Pfizer and Novartis, and research institutions such as Yale for the last 30 years. He holds numerous patents and has been published extensively in the field of medicinal chemistry and drug research. Dr. Hoyer has unparalleled expertise in computational chemistry enabled probe molecule design, drug design, and optimization, synthetic planning and execution, evaluation of chemical novelty and intellectual property assessment strategies. As noted earlier, he played a critical role in identifying our four lead novel drug candidates with the Mydecine research team.

Then in November 2020, we welcome Dr. Rakesh Jetly to the team as Chief Medical Officer. Dr. Rakesh has over 30 years of experience in health and medicine for the Canadian Armed Forces. He’s seen firsthand the traumatic stress and conditions that soldiers and veterans regularly experience and where our current PTSD treatments fall short. In March of 2021, Michel Rudolphie joined the company as President of European Pperations. Mr. Rudolphie, a Dutch citizen, with a Master’s and MBA in healthcare management and policy from Erasmus University in Rotterdam, has an impressive career record in the healthcare industry with succession of leadership positions at Novartis for 14 years, including four years serving as CEO of Novartis, Norway. Later in his career, he joined Make-A-Wish International as CEO and President and was responsible for moving the international headquarters from Phoenix, Arizona, to the Netherlands in addition to assembling a new team and developing foundation internal and external strategy.

Lastly just today, we announced that William Cook will join the team as interim CEO of Mindleap. At different point in juncture of our company’s development, as a west point graduate and a US army veteran, Mr. Cook’s extensive experience, intelligence and compassion have all been key factors to his success. As Manager at Raytheon, Mr. Cook was crucial to the Patriot missile defense capability youth and that desert storm. At Litton Industries, he led hundreds of engineers to develop artificial intelligence software for battle. Thereafter, he founded a software firm and an engineering firm, demonstrating his critical role and leadership in driving growth. Mr. Cook received his Master’s degree in marriage and family and child therapy and had performed countless hours of deep trauma healing work with clients in group and private psychotherapy, placing mental healthcare at the center of his passions. His technical expertise, in conjunction with his personal interest in healing, makes Mr. Cook a trusted leader as we focus on launching Mindleap version 2 in the spring of 2021.

With that, I would like to turn it over to Dean, our Chief Financial Officer, to review our financial highlights before I discuss our vision and outlook.

Dean Ditto

Thank you, Josh. I will speak about the financial results in terms of Canadian dollar. The company’s net loss attributable to common stockholders was $26.9 million for the year ended December 31, 2020, which equates to a basic and diluted loss per share attributable to common stockholders of $0.24. This is compared to a net loss attributable to common stockholders of $21.5 million for the year ended December 31, 2019, or a basic and diluted loss per share attributable to common shareholders of $0.96 cents. Turning to the balance sheet. As of December 31, 2020, the company had cash and cash equivalents of $2.2 million. Subsequent to the year end, Mydecine successfully raised approximately $30 million in the first month of 2021. The company believes at this time there’s sufficient liquidity to execute on its 2021 planned business activities and to satisfy the commitments made to date.

At this time, I would like to turn the call back over to Josh.

Josh Bartch

Thanks, Dean. Today, we provided a detailed overview of Mydecine and the strategy we employed to build one of the most innovative companies in the psychedelic spaces. Recently, we migrated our common shares and warrants to the New York Exchange and March of 2021, enabling us to reach a broader institutional and retail investor audience. While we diligently worked on our drug development, we also remain committed to providing greater visibility within the investment community. In this spirit, we’ve submitted a formal application to list on the NASDAQ stock exchange, as well as have taken the necessary steps to qualify, including adding an independent board, engaged a Tier 1 audit firm MNP, engaged EGS, Ellenoff Grossman & Schole as US council and announced a spin out of the company’s cannabis assets, a prerequisite to the listing.

At Mydecine, we focused on closing strategic acquisition and partnerships, advancing our clinical trials and building our IP portfolio to position us as a key player in the advancement of psychedelic assisted psychotherapy. Now as we move ahead with a vertically integrated business model in place, supported by a strengthened balance sheet and expanded team of world class executives, we are strongly positioned to enter the next chapter of Mydecine’s journey to lead the future of psychedelic therapeutics industry. We look forward to keeping the investment committee apprised of upcoming milestones, including data from our Phase 2a study as well as our drug development initiatives. We’re extremely excited as we approach the launch of Mindleap version 2 following today’s announcements of William Cook taking the helm as Interim CEO. Our passion sends us on a mission to develop high quality products and disruptive new technologies so we can contribute to making the world a better place.

I’d like to thank everybody for joining. This is Josh Bartch, CEO. Thank you to all our trusted shareholders. 2021, we look forward to continued updates, continued progress and a continued enhanced journey. Thank you again for your support.

Operator

Thank you for your participation. This does conclude today’s teleconference. You may disconnect your lines at this time. Have a great day.

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Mydecine Reports Full Year 2020 Financial Results and Provides Business Update

Published at globenewswire.com

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Positioned as Leader in Emerging Psychedelic Therapeutics Market through Robust IP Portfolio, Novel Clinical Trials and Evolving Proprietary Technology
Strengthened Balance Sheet with Approximately $30 Million in Capital Raised Subsequent to the Year-End
Announced Appointment of Experienced Software and Engineering Leader, William Cook as Interim CEO of Mindleap

DENVER, May 03, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, today reported its financial results for the full year ended December 31, 2020 and provided a business update.

“In 2020, our team worked diligently and effectively to establish the foundation of Mydecine. We focused on closing strategic acquisitions and partnerships, advancing our clinical trials and building our intellectual property portfolio to position Mydecine as a key player in the advancement of psychedelic-assisted psychotherapy,” stated Josh Bartch, CEO of Mydecine. “Now, as we move ahead in 2021 with a vertically-integrated business model in place supported by a strengthened balance sheet and expanded team of world-class executives, we are strongly positioned to enter the next chapter of Mydecine’s journey to lead the future of the psychedelic therapeutics industry.”

“In addition, we are extremely excited to announce the appointment of William Cook as the Interim CEO & Technical Director of Mindleap, at this important juncture of our Company’s development.  Mr. Cook’s extensive technical and leadership experience combined with his passion for individuals’ mental health brings an exceptional combination to the leadership of Mindleap.

As a West Point grad, Mr. Cook designed the Patriot missile system software parameters for the Army and then at Raytheon, led the development of Patriot software including that used in Desert Storm.  Mr. Cook architected and led a team of over 200 engineers developing the THAAD missile defense ‘brain’ software at Litton Industries, receiving Litton’s highest honors for technical achievement and leadership.

Thereafter, Mr. Cook founded an engineering firm, demonstrating his critical role in leadership and driving growth for several major companies and projects.  Mr. Cook also received his master’s degree in Marriage, Family and Child Therapy and has performed thousands of hours of deep trauma-healing work in group and private psychotherapy, placing mental healthcare at the center of his passions. Mr. Cook a trusted leader of our Mindleap team as we launch Mindleap 2.0 in the spring of 2021,” commented Mr. Bartch.

Business Highlights During and Subsequent to the Fourth Quarter 2020

Novel Clinical Studies

  • Launched clinical trials in three continents for the Phase 2a study of psychedelic treatments for PTSD in veterans, EMS, and first responders with aims to achieve safer and more accurate psychedelic-led psychotherapy results in a supervised setting.
  • Completed the world’s first international legal export of dried psilocybin mushrooms providing access to a quality source of much needed product for both research purposes, as well as to sell and transfer CGMP naturally-derived psilocybin to other licensed research facilities around the globe.
  • Sponsored several studies with academia, including the first lab-based study of established microdosing at Macquarie University in Australia and neuron level response to psilocybin at University of Maryland.
  • Entered into an exclusive partnership with Applied Pharmaceutical Innovation (API) at the University of Alberta, as well as, expanded capabilities that enables support of multiple drug development and clinical trial programs simultaneously.
  • Identified four lead novel drug candidates that are unique and patentable:
  1. MYCO – 001 is pure psilocybin from natural fungal sources.
  2. MYCO – 002 is an entactogenic compound that has been created with the goal of reducing harm and improving the safety profile vs. traditional MDMA.
  3. MYCO – 003 is a psilocybin-based formula with reduced anxiety potential, with the aim of removing the possibility of “bad trips,” even with severely ill patients.
  4. MYCO – 004 is a patch delivered tryptamine compound. Properties include short duration (~2hours), transdermal, precision dosing and long-term compound stability.

Robust IP Portfolio

  • In October 2020, Mydecine filed its provisional patent for the treatment of post-traumatic stress disorder (PTSD) with psilocybin.
  • In January 2021, Mydecine filed seven provisional patent applications with the United States Patent and Trademark Office (USPTO) in its efforts to discover valuable novel compounds in fungi for medicinal and pharmaceutical use.
  • In February 2021, Mydecine filed a provisional patent for Mindleap’s mental health technology with the USPTO and the Canadian Intellectual Property Office.

Enhanced Leadership

  • Appointed Dr. Rakesh Jetly as Chief Medical Officer in November 2020. Dr. Jetly brought a wealth of experience not only as a medical advocate for the use of psychedelic-assisted psychotherapy, but also as a prominent voice in the fight against PTSD and other mental health issues facing vulnerable populations like veterans and first responders.
  • In January 2021, Dean Ditto joined the Company as Chief Financial Officer. Mr. Ditto has over 20 years of financial leadership experience, as well as, tenure with a Big 4 public accountant firm.
  • In March 2021, Michel Rudolphie, former Novartis Norway CEO and former CEO and President of Make-A-Wish International, joined the Company as President of European Operations.
  • Strengthened the Board of Directors with the appointments of veteran corporate finance and capital markets professional, Gordon Neal and Josephine Wu, both experienced at bringing numerous successful drugs to market.
  • In April 2021, William Cook, an experienced software and engineering leader, was appointed interim CEO of Mindleap. Mr. Cook will be focused on the successful launch of Mindleap V2.

Capital Markets

  • Raised approximately $30 million in capital subsequent to the year-end 2020.
  • Successfully completed its migration to NEO Exchange and commenced trading on March 23, 2021.
  • Submitted formal application to list on the NASDAQ Stock Exchange and took the necessary steps to qualify.
Financial Results for the Full Year 2020

Net Loss: Net loss attributable to common stockholders was $26.9 million for the year ended December 31, 2020, or a basic and diluted loss per share attributable to common stockholders of $0.24, as compared to a net loss attributable to common stockholders of $21.5 million for the year ended December 31, 2019, or a basic and diluted loss per share attributable to common stockholders of $0.96.

Cash Position: As of December 31, 2020, the Company had cash and cash equivalents of $2.2 million. Subsequent to the year-end 2020, the Company raised approximately $30 million and is well-funded to advance its IP portfolio, expand clinical trial calendar, expand European operations; and build out its technology division.

Conference Call and Webcast Information

The Company will host a conference call and audio webcast on Monday, May 3rd at 10:30 a.m. ET. The dial-in numbers for the conference call are 1-877-407-4018 (U.S. Toll Free) or 1-201-689-8471 (International). Please dial in 10 to 15 minutes prior to the start time of the conference call and an operator will register your name and organization.

The conference call will also be available via webcast, which can be accessed through the Investor Relations section of Mydecine’s website, https://www.mydecine.com/#investors or here.

For interested individuals unable to join the conference call, a replay of the call will be available through May 17, 2021, at +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International). Participants must use the following code to access the replay of the call: 13718466. The online archive of the webcast will be available on https://www.mydecine.com/#investors after the conclusion of the call.

About Mydecine Innovations Group

Mydecine Innovations Group™ (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling 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 best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

Learn more at: https://www.mydecine.com/ and follow us on Facebook, Twitter, and Instagram.

For further information about 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 news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and 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 that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, 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 market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

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Mydecine to Report Full Year 2020 Financial Results on May 3, 2021

DENVER, April 26, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, announced today that it will report its financial results for the full year ended December 31, 2020, before the market open on Monday, May 3, 2021.

The Company will host a conference call and audio webcast that morning at 10:30 a.m. ET featuring remarks by Josh Bartch, CEO and Dean Ditto, CFO.

Event: Mydecine Full Year 2020 Financial Results Conference Call

Date: Monday, May 3, 2021

Time: 10:30 a.m. Eastern Time

Live Call: (877) 407-4018 (U.S. Toll Free) or (201) 689-8471 (International)

Webcast address: http://public.viavid.com/player/index.php?id=144246

For interested individuals unable to join the conference call, a replay of the call will be available through May 17, 2021, at (844) 512-2921 (U.S. Toll Free) or (412) 317-6671 (International). Participants must use the following code to access the replay of the call: 13718466. The online archive of the webcast will be available on https://www.mydecine.com/#investors after the conclusion of the call.

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About Mydecine Innovations Group

Mydecine Innovations Group™ (NEO: (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling 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 best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

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This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and 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 that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, 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 market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

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Mydecine Announces Launch of Cutting-Edge Therapeutic Compound Screening

Published at GlobeNewsWire.com

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DENVER, April 13, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company”), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, is pleased to announce the next steps in its research and development process as it investigates the chemical compounds and potential therapeutic effects of natural psilocybin as well as the company’s large library of synthetic novel compounds.

Following the receipt of the world’s first international export of dried psilocybin mushrooms at Mydecine’s Canadian Current Good Manufacturing Practice (cGMP) facility at API in Alberta, the Company has begun wide-ranging work to extract and characterize various compounds contained within the fruiting bodies of the dried psilocybin mushrooms. To date, Mydecine and API’s analytical research has found what it believes to be multiple chemical entities not previously characterized within these species before. The Company will now begin the screening process to test the potential therapeutic effects of these entities against serotonin receptors such as HTR1A, HTR2A, HTR2B, HTR2C as well as a broad range of metabolism and absorption assays.

“Having the ability not only to discover and extract compounds, but also provide the end-to-end screening to determine their potential effects as therapeutics is a tremendous capability,” says API CEO, Andrew MacIsaac. “We’ve built a world class drug discovery and development platform with Mydecine that will continue to set the company up for success as a global leader.”

“Utilizing the significant analytical capabilities at our disposal through our work with API as well as our proprietary ability to screen our large libraries of both synthetic and naturally derived novel compounds, we are pleased to announce this exciting advancement to our research and studies around these novel compounds for activity,” said Mydecine CEO Josh Bartch. “These findings tie in with Mydecine’s broader synthetic and development efforts and the programs and tools afforded us through our partnership with API will potentially provide the ability to scale these novel compounds all the way to the clinic in an efficient manner that provides internal insight to the biological effects of psychedelic therapeutics.”

About Mydecine Innovations Group

Mydecine Innovations Group™ (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling 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 best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

Learn more at: https://www.mydecine.com/ and follow us on Facebook, Twitter, and Instagram.

For further information about 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 news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and 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 that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, 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 market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

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Biotech Companies Driving Psychedelics Industry Forward with Key Research

Published at PRnewswire.com

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FN Media Group Presents Microsmallcap.com Market Commentary

NEW YORK, April 13, 2021 /PRNewswire/ — As an urgent public mental health crisis forces research institutions and governments to seriously examine unconventional mental health solutions, psychedelic assisted therapies are showing huge potential. Now, biotech companies have seen the opportunity, and psychedelics companies are diving into further research to seek out mental health solutions for conditions such as depression, PTSD, and suicidal ideation. Some companies like Mydecine Innovations Group (NEO:MYCO) (OTCPK:MYCOF), Compass Pathways (NASDAQ:CMPS), Minerco Inc. (OTCPK:MINE), Numinus Wellness (TSXV:NUMI) (OTCPK:LKYSF), and Seelos Therapeutics (NASDAQ:SEEL) are also looking into natural medicine initiatives to improve the quality of life of individuals struggling with mental health disorders

Mydecine Innovations Group Develops Lead Novel Drug Candidates

As biotech and life sciences companies become the driving force behind psychedelic research, Mydecine Innovations Group (NEO:MYCO) (OTC:MYCOF) is becoming a leader in this space. Mydecine is dedicated to the research, development, and commercialization of psilocybin-based therapies. The company holds a full Health Canada Schedule 1 Controlled Drugs and Substances Dealer’s Licence and operates a state-of-the-art mycology lab in Denver, Colorado. The company has facilitated numerous studies and development initiatives in-house and in collaboration with top research institutions.

On April 7, Mydecine announced that the company’s research team has developed four lead novel drug candidates and that Mydecine is currently preparing for Pre-Investigational New Drug (IND) meetings with the FDA and Health Canada. The four compounds include pure psilocybin from natural fungal sources, an entactogenic compound created with the goal of reducing harm and improving the safety profile compared to traditional MDMA, a psilocybin-based formula with reduced potential to trigger anxiety in patients, and a tryptamine compound that could be delivered transdermally with precision dosing and a shortened duration.

“Our first four novel drug candidates deliver on our long-term strategic road map for drug development with regular milestones that iteratively add value over time. By increasing the complexity of these compounds, we are increasing layers of patents applied, which in turn, also adds pharmaceutical value to the drug candidates,” Mydecine Co-Founder and CEO Joshua Bartch said in the company’s release. “The promise of these molecules is undeniable. By providing scalable, more stable compounds and delivery mechanisms for research and development, it means that new treatments for previously untreatable mental illnesses are close at hand.”

On March 23, Mydecine announced that the company had graduated to the NEO Exchange. Bartch said in Mydecine‘s release that the move will increase transparency and visibility for the company as it pursues its research and development goals.

“Mydecine is paving the way for incredible breakthroughs and we are thrilled to support their success as the Company’s listing exchange of choice,” Jos Schmitt, President and CEO of NEO commented in Mydecine‘s release. “Psychedelic therapeutic treatments have the potential to offer life-altering relief to millions of people around the world who suffer from mental health and addiction issues. We look forward to providing Mydecine with enhanced visibility and greater access to capital on our tier-one exchange so they can continue the great work they are doing.”

Biotech Companies Gear Up for Key Research

Across the industry, psychedelics-focused biotech companies are gearing up for research that could help shape the future of mental health treatment. On March 9, Numinus Wellness (TSXV:NUMI) (OTC:LKYSF) announced plans to significantly expand its psychedelics research laboratory by the end of the year.

Compass Pathways (NASDAQ:CMPS) announced on March 23 that the company had been granted two new patents by the US Patent and Trademark Office covering synthetic psilocybin formulations developed by Compass for treatment of major depressive disorder and treatment-resistant depression. The company says that these patents represent a critical milestone in its efforts to establish a new evidence-based option to help patients with depression and will aid the company’s clinical research.

In January, Jamaica-based biotech company Minerco Inc. (OTC:MINE) was acquired by a specialized investment firm with plans to immediately transition the company to the psilocybin therapeutics market with a focus on research and development. Earlier in January, Minerco announced that the company had partnered with Lazurus Holistic to serve as psilocybin experts to grow and develop a unique strain of mushrooms specific to Jamaica.

Biopharmaceutical company Seelos Therapeutics (NASDAQ:SEEL) announced on March 5 that the company had completed its enrollment of patients in Part one of its registrational Proof of Concept study of intranasal racemic ketamine for Acute Suicidal Ideation and Behavior in patients with Major Depressive Disorder.  The company says that it expects to release key open-label data by the second quarter of 2021

Promising research is driving momentum in the psychedelic therapeutics industry, and companies like Mydecine Innovations Group are building on that momentum with their own research and development.

Click here to find out more about Mydecine Innovations Group.

Disclaimer:  Microsmallcap.com (MSC) is the source of the Article and content set forth above. MSC owns and operates Streetsignals.com.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Mydecine Innovations Group Inc.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

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Benzinga – Psyched: Entheon Launches Psychedelics Genetic Test, Mydecine Unveils Psychedelic Drug Candidates, California Bill Passes Senate Committee

Entheon Biomedical Corp. announced the launch of a psychedelics genetic test kit last week through its wholly owned subsidiary HaluGen Life Sciences Inc.

The launch represents the first revenue stream for the company, said CEO Timothy Ko.

The test will serve as a pre-screening platform for patients looking into psychedelics-assisted psychotherapy, offering “genetic, personal and familial insights” to improve patient care and reduce possible risks associated with the therapy.

Clients receive a simple test kit in their home, do a cheek swab and return the kit to the company, which conducts a PCR genetic analysis at its Toronto testing facility.

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The company said the test is now available for sale in Canada, and expects to offer availability in the U.S. in coming months.

Mydecine Unveils 4 Psychedelic Drug Candidates

Mydecine Innovations Group (Pink: MYCOF) announced its four lead novel drug candidates Wednesday.

The company plans to present the candidates at Pre-Investigational New Drug meetings with the FDA and Health Canada, a necessary step in obtaining approval for drug development and clinical trials.

The candidates are:

  • MYCO – 001: a form of pure psilocybin derived from natural fungal sources, targeted to be used at mid-to-late-stage clinical trials.
  • MYCO – 002: an empathogen with similar effects to MDMA that could have an improved safety profile.
  • MYCO – 003: a psilocybin-based formula that could diminish the possibility of bad experiences by reducing patient anxiety.
  • MYCO – 004: a hallucinogen delivered transdermally, offering precision dosing and long-term compound stability.
  • The claims presented for these compounds need to be proven in clinical trials and via further research.

“By increasing the complexity of these compounds, we are increasing layers of patents applied, which in turn, also adds pharmaceutical value to the drug candidates,” said Joshua Bartch, co-founder and CEO of Mydecine.

California Psychedelics Decriminalization Bill Passes Senate Committee

A bill to decriminalize psychedelic substances in California, introduced in February by Sen. Scott Wiener, was approved by the Senate Public Safety Committee of the California legislature.

The legislation would remove penalties for the possession and use of psilocybin, LSD and DMT, MDMA, ketamine, mescaline and ibogaine, among others. It would also expunge the criminal records of people charged with crimes related to use and possession of these compounds.

The bill will now head to the Senate Health Committee, Marijuana Moment reported.

Atai Buys Majority In Psyber Brain-Computer Interface

Atai Life Sciences announced on Wednesday it has acquired a majority stake in Psyber, a company working with brain-computer interface digital therapeutics.

Brain-computer interface is a type of technology that allows a direct interaction between the human brain and a piece of software. Psyber, a Delaware-based company, works with EEG to provide this technology.

“Traditionally, the main goal of BCI has been to replace or restore useful functions to people disabled by neuromuscular disorders,” Atai said in a press release.

The company intends to use the technology in the treatment of mental health disorders, using Psyber’s interface in combination with compounds in Atai’s portfolio.

The interface would allow patients to receive a more clear interpretation of their emotional experience from a look at their own neural activity.

The company said it plans to use Psyber’s technology to enhance pharmacological treatment by “offering personalized and novel digitally enhanced, behaviour-changing experiences that complement [patients’] medication assisted therapy.”

The Milestone Round

Core One Labs Inc. (OTC:CLABF) completed the acquisition of Ketamine Infusions Centers of Texas Inc., a clinic providing ketamine therapy. The company plans to leverage the site to develop its psychedelic treatment platform that would deploy psilocybin once it becomes legal.

Core One Labs applied to list its shares on the Nasdaq last month.

Mind Cure Health Inc. (OTCQB:MCURF) filed a provisional patent with the USPTO for its proprietary digital therapeutics tool iSTRYM.

The platform, targeted for both therapists and patients, uses data and patient feedback to improve diagnosis and treatment.

“We intend to build iSTRYM into the world’s largest data repository of psychedelic experiences, backed by science and built on trust,” said Kelsey Ramsden, president and CEO of Mind Cure.

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Mydecine Announces Four Lead Novel Drug Candidates and Prepares for Pre-IND Meetings with the FDA and Health Canada To Prepare For Human Clinical

Published at psychedelicfinance.com

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DENVER, April 07, 2021 — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, has announced its four lead novel drug candidates as the Company prepares for its Pre-Investigational New Drug (IND) meetings with the FDA and Health Canada.

“Our first four novel drug candidates deliver on our long-term strategic road map for drug development with regular milestones that iteratively add value over time. By increasing the complexity of these compounds, we are increasing layers of patents applied, which in turn, also adds pharmaceutical value to the drug candidates,” said Joshua Bartch, Co-Founder and CEO, Mydecine Innovations Group. “The promise of these molecules is undeniable. By providing scalable, more stable compounds and delivery mechanisms for research and development, it means that new treatments for previously untreatable mental illnesses are close at hand.”

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 has been created with the goal of reducing harm and improving the safety profile vs. traditional MDMA.
  • MYCO – 003 is a psilocybin-based formula with reduced anxiety potential, with the aim of removing the possibility of “bad trips,” even with severely ill patients.
  • MYCO – 004 is a patch delivered tryptamine compound. Properties include short duration (~2hours), transdermal, precision dosing and long-term compound stability. The target use is mid-to-late-stage clinical trials, taking advantage of current publicly-available data.

These drug candidates were developed with the research team at Mydecine, led by Chief Science Officer and Co-Founder of Mydecine, Rob Roscow, along with collaboration from Dr. Denton Hoyer, drug-discovery expert and Mydecine Scientific Advisory Board Member. Mydecine believes that these drug candidates are unique and patentable in the United States and Canada and has received advice from counsel confirming such belief.

“In addition to Mydecine’s natural product portfolio, we believe these natural compounds also provide excellent starting points for new compounds which further meet the demands of the clinic and have improved safety, efficacy and formulation properties. Our research focus on molecular design achieves these goals,” said Dr. Hoyer.

“These candidates add layers of safety and dose-ability for the use of psychedelic compounds in medical research and eventually medical practice,” said Mr. Roscow. “We are essentially taking the value that is currently present in natural molecules, such as the psilocybin molecule in MYCO-001, and adding in patentable safety features. We want to create attractive features for the research community by providing compounds that can enhance therapy, reduce anxiety, and maximize delivery mechanisms.”

About Mydecine Innovations Group

Mydecine Innovations Group™ (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling 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 best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

Learn more at: https://www.mydecine.com/ and follow us on Facebook, Twitter, and Instagram.

‍For further information about 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 news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and 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 that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, 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 market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

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