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Assisted psychedelic treatment executives came together at the two-day, virtual Benzinga Global Small Cap Conference on Thursday to discuss recent lab developments and the significant hurdles ahead in mental health and addiction treatment.
Forbes Will Yakowicz moderated the digital panel featuring:
Joshua Bartch, CEO and co-founder,
Mydecine Innovations Group Inc (Pink: MYCOF)
Doug Drysdale, CEO,
Payton Nyquvest, chairman & CEO,
Numinus Wellness Inc (Pink: LKYSF)
There is a need for a paradigm shift in mental health treatment and psychedelics could be part of the plan, said Nyquvest. The current landscape of the market is filled with promise but still faces hardships in government approval and patient access, he said.
Mydecine Innovations Group identifies its first four psychedelic-related novel drug candidates
Mydecine Innovations Group (NEO: MYCO) (OTCMKTS: MYCOF) Co-Founder and CEO Joshua Bartch tells Proactive the group has identified its first four novel drug candidates to potentially treat mental illnesses. Bartch explains how each drug, which include psychedelic compounds derived from psilocybin and MDMA, will be used within current and upcoming clinical trials in the US and in Canada. Bartch also talked about how the group s spinoff of its cannabis assets will help it to up-list in London and in New York.
Quick facts: Mydecine Innovations Group Inc
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Biotech Companies Driving Psychedelics Industry Forward with Key Research
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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), 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
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.
Mydecine Innovations Group (OTC:MYCOF), a Denver-based psychedelics research company, announced its four lead novel drug candidates on 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.
“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,” said Rob Roscow, chief science officer and co-founder of Mydecine.
The candidates include:
MYCO – 001: a form of pure psilocybin derived from natural fungal sources, targeted to be used at mid-to-late stage clinical trials.