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Mydecine to make first legal import of psilocybin mushrooms into Canada

Published at Mugglehead.com.

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By Jared Gnam

As Canada leads the world in granting patient access to psilocybin, Mydecine Innovations Group Inc. (CSE: MYCO) is set to import the first legal shipment of magic mushrooms into the country.

This week, the Denver-based company said it completed its first harvest of 20 kilograms of psilocybin mushrooms at its research camp in Jamaica. The firm is now preparing to export the harvest to its CGMP-certified facility at the University of Alberta in Edmonton.

Mydecine is able to make the shipment because it has access to a Health Canada dealer’s license for schedule 1 substances at its facility, allowing for legal import.

It gained access to the licence through its research partnership with Applied Pharmaceutical Innovation, a commercial drug development institute at U of A.

Read more: Mydecine gets first CGMP status to produce, sell and export medical psilocybin

Once the shipment arrives to the firm’s Alberta facility, the psilocybin mushrooms will be extracted and turned into a final product for controlled therapeutic purposes. Mydecine says it will sell some of the extracts to other licensed institutions and companies conducting clinical research on the effectiveness of the compounds to treat various health conditions including anxiety, addiction, depression and PTSD.

This week, Canada’s Health Minister Patty Hajdu granted 17 healthcare professionals the right to possess and use psilocybin for professional training in psilocybin therapy.

Non-profit group TheraPsil, which is at the forefront of advocating for patients rights to access psilocybin therapy, says the Canadian government has recently become a world-leader in advancing access to psychedelic medicine.

Read more: First Canadian health care workers approved for psilocybin therapy training

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Controlled psychedelic treatment at the Polaris Insight Center in San Francisco. Photo via Multidisciplinary Association for Psychedelic Studies (MAPS)

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While recent psilocybin studies have shown promise for treating conditions like depression, more in-depth research is needed on all compounds in mushrooms that contain the substance, Mydecine CEO Joshua Bartch said in a statement.

Even in the most potent psychoactive mushrooms, psilocybin is only 1–2 per cent of total mass. This means that as much as 99 per cent of the mushroom is composed of other molecules, according to the company.

Its research team is zeroing in on the so-called entourage effect experienced by patients consuming the entire psilocybin mushroom. Doing so has shown dramatically effective results compared to a taking single-molecule synthetic psilocybin in preliminary studies, Bartch says.

“As the industry grows, the need for naturally occurring psilocybin and access to large quantities of these molecules will be paramount and we are excited to be the first to advance this movement at scale,” he says.

Portions of the harvest will be used for Mydecine’s own clinical research. This clinical use will be for studies and developing protocols for psilocybin-assisted psychotherapy to treat PTSD in veterans and other frontline workers.

The company said this week that it’s expanding its Phase 2A clinical trials around the globe. The trials are focused on treating PTSD in veterans with psilocybin-assisted psychotherapy. They will take place at Leiden University Medical Centre in the Netherlands, the University of Western Ontario, and U of A.

“Through these trials, our goal is to establish the safety and efficacy of psychedelic administered psychotherapy in a safe and supervised setting, utilizing strict protocols approved by research ethics boards and build upon the body of work that has led to psilocybin-assisted psychotherapy to receive ‘breakthrough’ status by the FDA,” CEO Bartch said.

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Top Mushroom Penny Stocks To Watch For 2021

Published at PennyStocks.com

Mydecine Innovations Group Inc.

Mydecine Innovations Group Inc (MYCOF Stock Report) (MYCO) has followed a similar trend as many of the other names in this niche. Shares of MYCOF stock have climbed as much as 100% since the start of November. Daily trading volumes have also increased. The Wednesday session saw the highest, single-day share volume to date.

What’s more, is that attention has been placed on the company Thursday following its latest update. The company announced today that Mydecine partnered with Microdose Psychedelic Insights. Microdose is a B2B psychedelic intelligence company and the two will present a free, three-part live video discussion series. Titled “Mydecine Speaker Series” it will cover research, psychedelic therapies, PTSD, microdosing, and drug discovery.

The company began picking up steam last month after updating the market on its current clinical trials. Mydecine announced the international expansion of its Phase 2A clinical trials of psilocybin-assisted psychotherapy to treat chronic PTSD. This is a trial in veterans and EMS personnel. Through these trials, Mydecine looks to sustain the safety and efficacy of psychedelic administered psychotherapy in a safe and supervised setting.

Moving forward, Mydecine will likely be on the watch list as its clinical trials roll on. Considering the company is also building upon its Scientific and Medical leadership, it will also be something to keep in mind with this psychedelic company.

mushroom penny stocks to watch Mydecine Innovations Group Inc. (MYCO stock chart)
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Mydecine Innovations Group Partners with Microdose Psychedelic Insights to Present a Free, Live Webinar Series on The Renaissance of Psychedelics

The first Mydecine Speaker Series event will feature Mydecine Scientific Advisory Board Members Dr. Robin Carhart-Harris and Dr. Ruth Lanius, Chief Medical Officer Rakesh Jetly and Chief Scientific Officer Robert Roscow

Moderated by Yeji Lee, Business Insider reporter, the panelists will discuss the impact of cutting edge research in mainstream medical interest about unlocking the potential of psychedelic therapies

Robert Roscow, Chief Science Officer of Mydecine to be named to Mydecine Board of Directors

DENVER, Dec. 10, 2020 (GLOBE NEWSWIRE) — Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced therapeutic medicine for mainstream use, announced today that the Company has partnered with Microdose Psychedelic Insights (“Microdose”), a leader in B2B psychedelic intelligence, to present a free, three-part live video discussion series titled “Mydecine Speaker Series” covering Research, Psychedelic Therapies, PTSD, Microdosing, and Drug Discovery.

Details and schedule of the first event are as follows:

Title:
How cutting edge research is igniting mainstream medical interest to unlock the potential of psychedelic therapies

‍Panel:

‍-Dr. Robin Carhart-Harris, Head of the Centre for Psychedelic Research, Division of Brain Sciences, Faculty of Medicine, Imperial College London

-Dr. Rakesh Jetly, OMM, CD, MD, FRCPC, Chief Medical Officer, Mydecine Innovations Group

-Dr. Ruth Lanius, MD, PhD, Professor of Psychiatry and the director of the post-traumatic stress disorder (PTSD) research unit at the University of Western Ontario

-Robert Roscow, MA, Chief Science Officer & Co-Founder of Mydecine Innovations Group, Former head of genetic research for Canopy Growth and prior was the head of genetics at ebbu

‍Moderator:
Yeji Lee, Business Insider

‍Date:
December 15, 2020 at 12:00 p.m. – 1:30 p.m. Eastern

‍Registration site:
‍bit.ly/3guDU5v

“We are excited to introduce members of our Management and Scientific Advisory Board and give some insight into the incredible projects and direction they are focused on in this dynamic field.  As key thought leaders in the community, their insights to the audience will be highly educational. In breaking down these key issues in drug development and other advances in research, we are able to foster a lively, informed debate among those leaders who are helping to shape the psychedelic industry,” said Joshua Bartch, CEO of Mydecine. “The more resources that are available to key stakeholders in this industry, the more we will see wider public acceptance of these important – and in some cases – life changing compounds.”

In each webinar, 3 to 4 featured thought leaders in the psychedelic space will give their expert perspective on the current and future research, findings and their applications to the marketplace. The participants will engage in deep and intimate conversations followed by a Q&A period with the audience.

We would also like to welcome Robert Roscow, CSO, to the Board of Directors for Mydecine Innovations Group.  As one of the founders, his background and knowledge to help drive the vision for Mydecine is invaluable. His expertise and contributions around genomics, evolution and molecular biology around cannabinoids were key drivers to the success of ebbu and Canopy Growth. His work has resulted in multiple patent filings and accolades in publications ranging from Nature to Rolling Stone. Now, Mr. Roscow has set his focus on the vast healing potential of the safe and effective compounds found in fungi.

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Spotlight: Dr. Denton Hoyer, Scientific Advisor, Mydecine

Published at PsychedelicFinance.com

Dr. Denton Hoyer has been involved in drug discovery at leading pharmaceutical companies and research institutions 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 and strategies. Dr. Hoyer is currently on the scientific advisory board at Mydecine Innovations Group.

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You have been involved in pharmaceutical ventures and drug discovery for multiple decades. Can you tell us what first drew you into psychedelics as a potential therapeutic area?

This is an area of research with research barriers imposed for quite some time. We see now changes in policy and attitudes, which will enable us to bring modern drug discovery into the field and move it forward with exciting discoveries and new therapies.

On a personal level, what have you found most exciting about psychedelics derived medicines and the impact they could have on mental healthcare, addiction and trauma?

It has been disappointing to see the slow progress in traditional CNS (Central Nervous System) therapeutics approaches as practiced in pharma. The psychedelic natural products give us alternative approaches and can address unmet needs that have stymied CNS therapeutics. I’m very optimistic with the progress that has been made in psychedelics and anticipate incredible growth in this area.

You have experience with some of the largest Pharma companies on the planet, including Pfizer and Novartis. What did you learn there about novel drug discovery that you are now able to bring in to the world of psychedelics?

Adapting any compound for clinical use requires one to understand the drug on a molecular level and anticipate development issues such as manufacture, stability, formulation, off-target effects and safety. Through the application of the principles of medicinal chemistry, we can address these issues and develop a product clinicians can use confidently.

You have joined the team at Mydecine. What drew you to the opportunity and what are you spending your time on building with them?

I was impressed with the competence and depth of the Mydecine team and my working with them has been completely enjoyable.  They are working with major players in the field of psychedelics research and the team is able to identify new opportunities for collaboration and engagement. Currently, I am taking a deep look at psychedelics of interest to Mydecine, identifying new opportunities, developing intellectual property and setting research strategies.

Can you share some of the obstacles that you’ll have to overcome working with new types of psychedelics and new molecules?

As anyone in research will tell you, the efficacy of an agent can be complex on a receptor level and deciphering mechanisms of action responsible for any therapeutic effect challenging. Fortunately, the psychedelics have a deep history of past anecdotal use that informs more rigorous studies. This is a key advantage in providing strong proof of concept for particular indications.

What do you think most people still don’t understand about psychedelics and their therapeutic potential?

Past policy on the utility of psychedelics has been confused with dirty drugs, recreational abuse and unscientific conclusions made for political and societal reasons. Bringing serious study with well characterized agents is needed to make progress in identifying the appropriate illnesses and clinical environments in which effective treatments can be developed.

From a drug discovery perspective, what are you most excited about right now in your collaboration with Mydecine and what impact could it have long term?

The psychedelics we are currently focusing on have clear indications for specific illnesses and that provides our short term focus and growth. However, we believe there are many new opportunities to expand the use of psychedelics and the time is ripe to begin the research. We are able to anticipate potential issues that can hinder the development of psychedelics and find solutions. This includes the invention of new molecular entities  and is the long view. Taking this long view will drive new discoveries and open up the field of CNS research.

 

Always do your own research and make your own investment decisions. This is not a solicitation to purchase or sell securities .Psychedelic Finance is not a registered investment advisor and does not purport to provide investment advice, whether implied or otherwise. Psychedelic Finance does not independently verify the accuracy or the truth of the statements or representations made by issuers. This message is meant for information and educational purposes only and Psychedelic Finance does not intend for this information to be used to inform an investment decision.

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Psychedelic Quick Hits: Havn Life, MindMed, Mydecine

Published at GreenMarketReport.com

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Mydecine Innovations

Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) announced that it has completed its first commercial harvest of 20 kilograms of psilocybin mushrooms at its research and cultivation facility in Jamaica. The company said it is now preparing to export the harvest to its Canadian cGMP Facility which has a Health Canada schedule 1 Dealer’s License attached to it, allowing for legal import.

“We are pleased to announce the completion of our first commercial harvest of natural psilocybin mushrooms,” said Joshua Bartch, CEO and Chairman of Mydecine. “There is more research needed on these compounds in order to better understand the entourage effect experienced by patients which has shown dramatically effective results compared to single-molecule synthetic psilocybin in preliminary studies. As the industry grows, the need for naturally occurring psilocybin and access to large quantities of these molecules will be paramount and we are excited to be the first to advance this movement at scale.”

Mydecine said that its final product will be made available for purchase by other licensed institutions and companies conducting clinical research into the efficacy of these compounds to treat various health conditions including anxiety, addiction, depression and PTSD. Portions of the harvest will also be used for Mydecine’s proprietary genetic, pharmacology, and clinical research. The clinical use will be for the studies and developing protocols of psilocybin-assisted psychotherapy to treat PTSD in veterans and other frontline workers.

MindMed

Mind Medicine Inc. (NEO: MMED) (OTCQB: MMEDF) has filed a final short form prospectus with the securities commissions or similar authorities in each province of Canada, other than Québec with regards to a previously announced bought deal. The company’s underwriters have agreed to purchase 15,800,000 units of MindMed, on a “bought deal” basis, at a price per Unit of $1.90 for gross proceeds of $30,020,000.

The company said it has also granted the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $4,503,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $34,523,000.The Offering is scheduled to close on or about December 11, 2020.

Havn Life

Havn Life Sciences Inc. (CSE:HAVN) has signed a Memorandum of Agreement with the international veteran’s organization, Heroic Hearts Project. Heroic Hearts is a registered 501(c)(3) nonprofit organization founded in the United States that connects military veterans struggling with mental trauma, to psychedelic therapy options including ayahuasca, psilocybin, and ketamine. Heroic Hearts also provides support and professional counseling to these veterans throughout the process. These veterans typically have tried all the available resources offered by the Department of Veteran Affairs with limited success leaving them with very few options. Heroic Hearts currently has branches across the United States, Canada, and the United Kingdom.

“This collaboration between Havn Life and Heroic Hearts has the potential to make an extraordinary impact on the mental health and wellness of military veterans,” said Susan Chapelle, EVP of Research and Development at Havn Life. “Under the agreement, Havn Life will supply products and compounds to be used in Heroic Hearts’ future clinical studies that will investigate the effects of low-dosage psychedelic compounds on veterans suffering from emotional trauma and PTSD. This progressive research will help develop clinical trial formulations to aid in the recovery of PTSD and other trauma-related disorders. We look forward to working closely with veterans and others with military backgrounds.”

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Psychedelics: FDI’s next trip?

By Seth O’Farrell

Published at FDIIntelligence.com

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Psilocybin-based therapies are gaining ground in the US, sparking investment in the sector

The past few months has seen a flurry of activity to do with psychedelics in North America: US cities and states have legalised psilocybin, and biotech psychedelic-assisted therapy companies have started to raise institutional capital and establish R&D centres overseas.

In November, the state of Oregon decriminalised the possession of all drugs and legalised the use of psilocybin – the naturally occurring compound found in “magic mushrooms” – for medical treatment. This comes as biotech companies developing psilocybin therapy, such as Compass Pathways, look to raise capital funding through IPOs.

On both sides of the Atlantic, guided therapy using psilocybin as a conduit is gaining ground, while investor interest is surging. Psychedelics stocks are fast becoming a hot topic in the biotech sector.

The business potential is not lost on investors. In 2017, the UK’s Centre for Mental Health estimated that mental health problems at work had cost the country £34.6bn, up from £26bn 10 years earlier. Global predictions for the financial cost of mental health run to trillions. With Covid-19 exacerbating the rates of anxiety, depression and addiction, it is little wonder that capital is coming to the rescue.

Indeed, it follows that companies large and small are expanding their operations. Greenfield investment tracker fDi Markets recorded two projects in this sector this year. Despite concurrent legalisation efforts, how companies court investors and acquire regulatory approval remains delicate, however.

Canadian company Mydecine, which develops and produces drugs from mushrooms, has opened a lab in Denver focused on the medical applications of mushrooms of non-psychedelics and is awaiting DEA approval.

“We think that the US is an amazing marketplace,” says Mydecine chief executive Josh Bartch, adding that the decriminalisation in Oregon and lobbying efforts in Washington DC have led to a “wave of acceptance” and “mindset changes”.

Covid-19 fallout

In the wake of the pandemic and the second lockdown restrictions across Europe and North America, concerns around mental health and wellbeing are only likely to become more pronounced.

Mr Bartch expects a surge in post-traumatic stress disorder and a spike in substance abuse, for which psilocybin is a unique treatment. “People will be actively seeking out more progressive, innovative and less harmful solutions,” he says.

For J.R. Rahn, CEO and founder of MindMed, a Toronto-based psychedelic medicine biotech company, being federally compliant and distancing oneself from the legalisation path are essential to attracting institutional capital.

He fears that legalisation efforts may ignore the needs of the patients who are suffering, and so priority must be given to the patients before any debate on legalisation.

“Right now, let’s solve the acute problem that tens of millions of Americans are jobless and are probably going to have high rates of mental illness and addiction,” Mr Rahn says. “The whole legalisation thing has the ability to threaten what we’re doing in the therapeutic space.Our objective is not for you to have a better Phish concert. Our objective is to solve the underlying cause of your anxiety or addiction.”

MindMed opened a research and development centre in Basel earlier this year, attracted by the research going on in Switzerland and the infrastructure that is already in place to conduct clinical trials there.

“There is a huge Swiss legacy on psychedelics,” he says, which goes all the way back to Basel-born chemist Albert Hofmann’s discovery of LSD.

Humanitarian opportunity

It is hard not to make comparisons with the evolution of the cannabis industry over the past 10 years, whereby legal changes have aligned with public acceptance to create a billion-dollar medical industry. Legalisation efforts in the US have removed much of the stigma attached to alternative, psychoactive medicine, and the country’s opioid crisis led to greater openness regarding plant-based alternatives.

Ronan Levy, co-founder and executive chairman of Canadian psychedelic therapeutics company Field Trip Health, which recently expanded operations to the Netherlands, insists that this is distinct from the popularisation of cannabis-inspired medicine in both mission and scope.

“The cannabis industry was driven more through political grassroots activism,” he says. The difference here is that this surge of interest has been triggered by the research coming out of Baltimore’s Johns Hopkins University and Imperial College, London.

“This is not only an incredible business opportunity but an incredible humanitarian opportunity,” Mr Levy asserts. “Research shows that people who have psychedelic therapies have increased creativity and empathy.”

In a divided world, he adds, humanity is evolving in a positive way as the psychedelics industry begins to flourish.

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Health Crisis-Induced Post-Traumatic Stress Disorder Creates Growing Need for Treatment Options

NEW YORK, Dec. 8, 2020 /PRNewswire/ — The health crisis has resulted in over one million deaths to date, but another emerging consequence of the global pandemic is affecting a much larger demographic. Aside from the growing death toll, the COVID-19 pandemic is sending mental illness cases skyrocketing, including an increase in post-traumatic stress disorder (PTSD). An estimated 70% of US adults experience at least one trauma in their lives that could lead to PTSD, yet effective treatments are few and far between. At present there are only five FDA-approved prescription drugs for the treatment of PTSD, including Pfizer’s (NYSE: PFE) Zoloft. There are also off label treatments like AstraZeneca’s (NASDAQ: AZN) Quetiapine. The problem is that these medications can be highly addictive and often come with a long list of side effects, fueling companies like Tonix Pharmaceuticals (NASDAQ: TNXP), Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF), and Mydecine Innovations Group Inc. (CSE: MYCO) (MYCOF) to develop effective alternatives.

Mydecine Innovations Group is an emerging biopharma and life sciences company focused on the research, development, and acceptance of alternative nature-sourced medicine to help combat the growing mental health crisis.

Pandemic Shines Light on Demand for Effective PTSD Treatments

The mental health of first responders became a major focus following the aftermath of the 9/11 terrorist attacks, shedding light on the risks of being exposed to emergency settings. Frontline workers are being tested to their limits once again due to COVID-19 and are at a high risk of developing PTSD.

While many biotech companies have switched gears to focus on potential vaccines and treatments for COVID-19, Mydecine Innovations Group is looking to help tackle the ongoing mental health crisis through its clinical trials and its own digital mental health platform. In mid-November, Mydecine announced the international expansion of its Phase 2A clinical trials of psilocybin-assisted psychotherapy to treat chronic PTSD in veterans and emergency medical services (EMS) personnel.

The research is taking place at Leiden University Medical Centre in the Netherlands, the University of Alberta, and the University of Western Ontario, with plans to add additional clinical sites in the USA, Europe, and Australia. The clinical trials will explore how the brain responds to psychedelics to develop a better understanding of the biological underpinnings of the experience. Following their completion, Mydecine Innovations Group will use the data from their studies to build on its knowledge to move forward with an application for FDA breakthrough designation.

Mydecine Innovations Group also recently launched the Mindleap app, the world’s first telehealth platform for psychedelic integration. The platform, which was launched on September 30 on iOS and Android, offers a powerful set of tools for managing mental healthcare. Mindleap allows users to connect virtually with specialists and enables mood, emotion, and habit tracking, while having the ability to schedule appointments, and purchase mental health services.

Before the new year, Mydecine Innovations Group will be expanding Mindleap by adding mental health specialists with different aptitudes and a digital therapeutics marketplace that offers comprehensive mental health programs that focus on addiction, meditation, psychedelic integration, holistic wellness, and drug harm reduction.

Psychedelic medicine biotech company Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF) is another company making headway in its clinical studies to evaluate potential treatments to help patients with anxiety, ADHD, cluster headaches, and substance abuse. MindMed is also in the process of establishing a digital medical division known as Albert, an integrated technical platform and comprehensive toolset aimed at delivering psychedelic-inspired medicines and experiential therapies combined with digital therapeutics.

Tonix Pharmaceuticals (NASDAQ: TNXP) is another biopharmaceutical company looking to help combat mental illness, although the company hit a speedbump in its Phase III RECOVERY study of Tonmya for PTSD earlier this year. In February, Tonix decided to stop enrollment in the study due to inadequate separation from placebo. Luckily, the company continued forward and has recently outlined a new statistical method to analyze future PTSD drug studies.

Until these alternative treatments come to market, consumers are continuing to turn to Pfizer’s (NYSE: PFE) Zoloft to combat things like depression, anxiety, and PTSD. In fact, Zoloft is one of the most commonly prescribed antidepressants in the US and in other countries, which led to a shortage of the drug during the height of the pandemic.

Another treatment for PTSD and other mental illnesses, including schizophrenia and bipolar disorder, is the powerful antipsychotic quetiapine, which was developed by AstraZeneca (NASDAQ: AZN) and is sold under the name Seroquel. The drug has become wildly popular for several off label uses, including insomnia caused by PTSD; however, the adverse effects of the drug came into the spotlight through data obtained from the FDA’s Adverse Event Reporting System in 2017.

Of course, Seroquel isn’t the only prescription antidepressant that causes adverse effects. Prescription drugs for depression, anxiety, and PTSD all come with a list of common and severe side effects, which range from nausea and dizziness to loss of consciousness and suicidal ideation.

The market is clearly in need of safe and effective alternatives for treating mental health, creating a large opportunity for companies like Mydecine Innovations Group.

For more information on Mydecine Innovations Group (CSE: MYCO) (MYCOF), please visit this link.

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.

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Mydecine Innovations Group to Make First Commercial Export of Legal Psilocybin Mushrooms

DENVER, Dec. 08, 2020 (GLOBE NEWSWIRE) — Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced therapeutic medicine for mainstream use, announced that it has completed its first commercial harvest of 20 kilograms of psilocybin mushrooms at its research and cultivation facility in Jamaica. The Company is now preparing to export the harvest to its Canadian cGMP Facility which has a Health Canada schedule 1 Dealer’s License attached to it, allowing for legal import.

“We are pleased to announce the completion of our first commercial harvest of natural psilocybin mushrooms,” said Joshua Bartch, CEO and Chairman of Mydecine. “There is more research needed on these compounds in order to better understand the entourage effect experienced by patients which has shown dramatically effective results compared to single-molecule synthetic psilocybin in preliminary studies. As the industry grows, the need for naturally occurring psilocybin and access to large quantities of these molecules will be paramount and we are excited to be the first to advance this movement at scale.”

Once received by the Company’s facility in Canada, the psilocybin mushrooms will be extracted, refined and turned into a cGMP final product for controlled therapeutic purposes. Mydecine’s final product be made available for purchase by other licensed institutions and companies conducting clinical research into the efficacy of these compounds to treat various health conditions including anxiety, addiction, depression and PTSD. Portions of the harvest will also be used for Mydecine’s proprietary genetic, pharmacology, and clinical research. The clinical use will be for the studies and developing protocols of psilocybin-assisted psychotherapy to treat PTSD in veterans and other frontline workers.

About Mydecine Innovations Group
Mydecine Innovations Group™ is a life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing wellbeing. The company’s world-renowned medical and scientific advisory board is progressing a robust R&D pipeline of psychedelic derived therapeutics, novel compounds, therapies, and controlled drug delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, extract, and analyze natural and synthetic psychedelic compounds with full government approval through Health Canada.

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