Mydecine Innovations Group Inc - MYCOF stock

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OTC Symbol: MYCOF | OTC Tier: Pink Current

History

Mydecine is a biotechnology and life sciences company that focuses on developing and commercializing innovative products and therapies derived from natural fungi sources, such as psilocybin, for the treatment of various mental health conditions and addictions. The company is headquartered in Canada and has operations in various countries, including the United States and Australia. Mydecine aims to become a global leader in the emerging psychedelic medicine industry by conducting rigorous scientific research and clinical trials, as well as building strategic partnerships with leading academic institutions and pharmaceutical companies.

Funding

In March of 2022 Mydecine announced the successful closing of the first tranche of a Share Subscription Agreement, which resulted in gross proceeds of CAD $15 million to be used to fund the company's ongoing operations and strategic initiatives in the development and commercialization of psychedelic-based therapies for mental health disorders.

Therapeutic Solutions

Mydecine Innovations Group is a biotechnology firm developing the next generation of revolutionary drugs and treatment procedures for addiction and mental health. Using cutting-edge technology, drug development infrastructure, and artificial intelligence, Mydecine is developing novel therapeutic solutions in areas where there are many unmet needs. Our worldwide team is making significant progress toward developing a pipeline of novel chemicals, regulated drug delivery methods, and treatments containing the next generation of psychedelic molecules.

Strategy

Mydecine Innovations is a biotechnology firm that is creating the next generation of novel pharmaceuticals and therapies to treat mental health illnesses like nicotine addictions and post-traumatic stress disorder (PTSD). The main strategy combines cutting-edge technology with a complex infrastructure for medication discovery and development. The devoted multinational team at Mydecine is continually developing new avenues for innovative medical solutions in areas with significant unmet needs. The Company intends to responsibly accelerate the development of breakthrough pharmaceuticals in order to give patients with safer and more effective treatment options by cooperating with some of the world's finest professionals. Simultaneously, Mydecine's approach that focuses on the next generation of psychedelic medicine by developing novel substances with unrivaled therapeutic potential through clinical trials with world-class scientific and regulatory competence. Mydecine was created in 2020 and is headquartered in Colorado, USA, with offices in Alberta, Canada, and Leiden, Netherlands.

IP & R&D

Mydecine can manage all aspects of drug development, including as synthesis, genetic research, import/export, delivery system development, clinical trial execution, product commercialization, and distribution. On the company's exclusive medication development pipeline, seven patent filings represent thousands of inventions with numerous levels of protection. Expert interdisciplinary teams and cutting-edge infrastructure enable a more rapid medication development procedure. Several innovative molecular designs by some of the world's finest drug discovery and design professionals, including Dr. Denton Hoyer, previously of Novartis, Pfizer, and Yale, as well as the University of Alberta's faculty of pharmacology.

Mindleap

Mindleap.com is a virtual health platform that includes psychedelic integration and is owned by Mydecine, benefitting from the company's top research personnel and an AI-powered dashboard designed to optimize users' mental healing journeys. Mindleap provides education, coaching, trustworthy content, wellness guidance, and a health journal, and allows healthcare professionals to remotely administer psychedelic-assisted treatment while maintaining full privacy compliance. The platform currently has thousands of downloads and hundreds of licensed coaches generating income, and as subscriber growth continues, Mindleap plans to expand its development team and clinic program connections. The platform is available on iOS and Android, with a web version in development.

In December, 2022, Mydecine announced the successful completion of the sale of its wholly-owned subsidiary, Mindleap Health Inc., a digital mental health platform, for a total consideration of CAD $5.5 million, which will be used to strengthen the company's balance sheet and focus on its core business of developing and commercializing psychedelic-based therapies for mental health disorders.

Partnerships & Facilities

Mydecine's collaboration with API allows them to conduct unrivaled investigations with exact control and ownership over research design and drug format. Mydecine uses the data for their own research as well as to engage with academic’s leaders in the field.

• World-Class Research Center
• Dealer's License for Scheduled 1 Drugs and Substances issued by Health Canada
• 30+ Ph.D.s, scientists, doctors, regulatory, and patent specialists
• Drug development, target identification, and validation
• Analytical testing and performance evaluation
• Pharmaceutical chemistry and synthesis
• School of Pharmacy acknowledged expertise
• Ensures clinical trial medication supply across all schedule classes

Agreement on Research Collaboration with Johns Hopkins University

The company signed a five-year research partnership with recognized university Johns Hopkins University School of Medicine, which was one of its most remarkable achievements. Dr. Matthew Johnson will direct research into the therapeutic use of psychedelic drugs for mental health and substance use issues, beginning with the use of psilocybin to help smokers quit smoking.

Achievements of Mydecine Innovation Group

Matching Novel Drug Compounds and Indications

Mydecine revealed the company's four main medication candidates, MYCO-001, MYCO-002, MYCO-003, and MYCO-004, in the spring of 2021. While the first two related to psilocybin and MDMA, the final two are distinct. MYCO-003 is a psilocybin-based formula with a greater safety profile that eliminates the potential of poor experiences, according to Mydecine. MYCO-004 is a transdermal patch that delivers a tryptamine molecule. In June, the business revealed the indications for one of its innovative medications, MYCO-004, focusing on substance use disorder and quitting smoking.

Psilocybin and PTSD Phase 2a Clinical Trial for Veterans

While Covid-19 has made it more difficult to carry out, Mydecine is continuing its phase 2a clinical trials of psilocybin-assisted psychotherapy for veterans, EMS, and frontline workers suffering from PTSD. The research is being carried out globally, with test locations at Leiden University in the Netherlands and three separate sites in Canada, including the University of Alberta, the Royal Ottawa Hospital, and Wester Ontario University. Many locations in the United States, including Los Angeles and Boston, have been confirmed.

AI Drug Discovery Initiative

Mydecine was one of several psychedelic businesses to launch a drug research initiative based on artificial intelligence in 2021. Its in-silico drug discovery effort is focused on generating drug screenings enabled by artificial intelligence/machine learning. Dr. Khaled Barkat, a computer-aided drug discovery expert at the University of Alberta, is in charge of the project. The software enables quick screening of novel compounds as well as screening of Mydecine's exclusive library of innovative medications.

Roth Capital Coverage of the First-Ever Psychedelic ETF

has been included in the first-ever psychedelics exchange-traded fund (ETF), called the Horizons Psychedelic Stock Index ETF, which trades on the NEO Exchange in Canada under the ticker symbol PSYK. The ETF provides investors with diversified exposure to the emerging psychedelic medicine industry, including companies involved in research and development, production, and distribution of psychedelic-based products and therapies.