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Mydecine Innovations Group (OTC: MYCOF) is set to launch Mindleap 2.0, a virtual health platform aimed at fostering the responsible adoption of psychedelics for mental health, on July 30, 2021. The updated platform features a comprehensive media library, community engagement options, and secure video support sessions with specialists. Mindleap aims to enhance users' mental health journeys while supporting advanced patient care for clinical trials. Mydecine is focused on developing innovative, nature-sourced therapeutic solutions for mental health issues.
Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) has announced the selection of substance use disorder and smoking cessation as target indications for its psychedelic molecule, MYCO-004. This transdermal patch-delivered tryptamine compound aims to address the high demand for effective treatments, with approximately 19.7 million adults in the U.S. suffering from substance use disorders. Current nicotine treatments are inefficient, and the market for such treatments is projected to reach $13.6 billion by 2026. MYCO-004 is a second-generation drug improving on earlier iterations like MYCO-001, which shows an efficacy rate of 85% in trials.
Mydecine Innovations Group (NEO: MYCO, OTC: MYCOF), a biopharma company focused on alternative medicine, announced that CEO Josh Bartch will speak at the ROTH Healthcare Private Company Forum on June 28, 2021. He will participate in the panel, Next Wave of Psychedelic Drug Developers, at 11:00 a.m. ET. Mydecine is investing in psychedelic-assisted therapies and has a robust R&D pipeline. The company operates a cGMP certified facility for active mushroom compound research and is committed to mental health solutions. For more details, visit mydecine.com.
Mydecine Innovations Group (NEO: MYCO, OTC: MYCOF) announced its new in-silico drug discovery program in collaboration with the University of Alberta, led by Dr. Khaled Barakat. This AI/machine learning initiative aims to accelerate drug screenings and identify strong therapeutic candidates from a vast library of molecules. The program enhances Mydecine's research capabilities in developing nature-sourced psychedelic therapies, allowing for more efficient development of effective treatments. CEO Josh Bartch emphasized the transformative potential of AI in drug discovery.
Mydecine Innovations Group (MYCOF) announces significant progress in psilocybin research, identifying over 40 new pharmacologically active compounds from various mushroom species. This research, led by Senior Scientist Duff Sloley, reveals compounds that may offer therapeutic benefits, potentially advancing psychedelic-assisted medicine. Mydecine's integrated R&D facilities enable efficient compound discovery and testing, positioning the company as a leader in developing nature-sourced pharmaceuticals. The firm emphasizes its commitment to innovative solutions for mental health challenges through robust R&D and strong governance.
Mydecine Innovations Group (NEO: MYCO, OTC: MYCOF) announced that CEO Josh Bartch will participate in the H.C. Wainwright Psychedelics in Psychiatry and Beyond Conference on June 17, 2021. His presentation will be available on-demand from 7:00 a.m. ET. The company focuses on developing nature-sourced psychedelic-assisted therapies and has a cGMP certified facility for pharmaceutical manufacturing. Mydecine aims to lead in clinical trials and research, enhancing the acceptance of psychedelic-assisted therapy in mental health treatment.
Mydecine Innovations Group has received approval from Health Canada to expand its cultivation capacity for pharmaceutical-grade psilocybin at its cGMP facility. This expansion aims to enhance production for clinical research and partnerships, enabling faster studies of psilocybin's medical utility, particularly for mental health conditions like PTSD and addiction. The new facility will also contribute to Mydecine's research on diverse mushroom species, increasing its intellectual property and discovery potential. The partnership with Applied Pharmaceutical Innovation positions the company for long-term success in psychedelic drug development.
Mydecine Innovations Group is set to execute a strategic spin-out of its U.S. cannabis assets into a new subsidiary, SpinCo. This move aims to facilitate compliance with NASDAQ and London Stock Exchange requirements, enhancing the company's growth potential. The spin-out is expected to close around the week of July 12, 2021, contingent on shareholder approval and a Supreme Court order. Shareholders will receive SpinCo shares on a pro-rata basis. Post-spin-out, SpinCo intends to pursue a public listing, but timelines remain uncertain.
Mydecine Innovations Group (NEO: MYCO) reported financial results for Q1 2021, showcasing significant growth and operational milestones. The company raised C$20 million and achieved the first-ever international export of psilocybin mushrooms, enhancing its clinical and commercial supply chain. Strategic partnerships with API and LeadGen Labs were established to bolster drug development efforts. Despite a net loss of $5.2 million, Mydecine is well-positioned for future growth with robust funding and an expanding European presence.
Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) has announced CEO Josh Bartch's participation in the Benzinga Global Small Cap Conference on May 13, 2021. He will address the panel titled Investing in the Mental Health Crisis Through Psychedelics at 4:15 p.m. ET. Mydecine focuses on developing nature-sourced medicine for mental health and operates a cGMP certified manufacturing facility. The company aims to lead in psychedelic-assisted therapy advancements and has established a robust R&D pipeline.