Psilocybin To Cure Addiction? New Study Shows Promise

Those familiar with the world of psychedelic therapeutics are no strangers to Mydecine Innovations Group (NEO: MYCO)(OTCMKTS: MYCOF), and investors targeting psychedelic stocks have long kept the bio and digital tech company on their radars.

Mydecine is known for their focus on novel therapeutics and their effects on mental disorders and addictions. Their psychedelic drug development often centers around the use of psilocybin, and an impressive run of trials sees Mydecine working hand-in-hand with the most reputable medical research facilities in the world.

Most notably, Mydecine’s MYCO-001 drug has received extensive media coverage, as the compound is currently involved in clinical trials for smoking cessation at Johns Hopkins University.

The most recent results from this trial are extremely promising, as nearly 60% of test subjects are showing positive results after being administered a single dose of the psychedelic.

Mydecine Chief Medical Officer Dr. Rakesh Jetly once again sat down with The Dales Report to cover a wide range of topics, including the most recent clinical results and the future of psychedelics in medicinal practices.

Fresh off of the recent Wonderland: Miami Psychedelics Conference, Dr. Jetly offers a quick recap of the event, where he emphasizes on the necessity of having so many like minded individuals in the same room.

“I mean, my personal highlight was sitting on their patio for a couple of hours on one of the days and I’ve got Rick Doblin from MAPS to one side about Matt Johnson on the other and we’re just basically shooting the shit as colleagues about how to help patients, what to do, what about this… and I think the Zoom kind of meetings are so focused that they don’t allow these sort of sidebar casual kind of discussions. So that was just a treat. And the three of us were just talking about all kinds of innovations, different ways that we can help people and move the yardstick forward.”

This collaborative environment has been severely hindered by the COVID pandemic, as many of the brightest in the field have been unable to simply sit and chat. With restrictions easing, the event allowed for this meeting of the minds to take place in a way that should only expedite the future of the industry.

Dr. Jetly separated the attendees into two camps of thought.

“There’s a group of necessary people that I would put in the evangelical kind of camp. I mean, these are great products, they’ve been around for 1000s of years, they’re natural, they’re in history.”

“Then you’ve got the people that are much more sort of buttoned down pharma, you know, these are molecules, molecules will hit the receptors. They’re serotonergic agents, just like Paxil, Prozac, all of these things, and we’re going to help people in the same way, maybe better, maybe we’ll do this right.”

“My feeling is that I’m biased. I’m kind of in the second camp. I’m a physician. You know, I’m very much into sort of the evidence, the science, the biology, you know, to some extent, I want to demystify the mystical experience and just kind of understand what’s actually happening in the brain and body to help people. I think in the long run, that’s what the medical community is going to need. Because otherwise, we’re going to repeat what happened in the 60s, 70s and 80s, where lots of people were helping people for sure, there’s no question, but it was in a sort of an underground kind of way.”

He goes on to explain how the two camps can work together to further solidify psychedelics as a true player in the medicinal and psychological spaces, and touches on Mydecine’s current trajectory to further the cause.

The 26 minute conversation offers a unique perspective into one of the most promising studies on psychedelics and addiction to date, and is a must listen for any and all interested in investing in psychedelics or simply looking to better understand the current quest to combat addictions and mental disorders.

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