Mydecine Expands Portfolio of Novel Molecules Filing New Patent for MDMA-like Compounds
Mydecine Innovations Group (NEO: MYCO)(OTCMKTS: MYCOF), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, today announced that the Company has filed a new patent for MDMA-like compounds further expanding its robust portfolio of novel compounds.
At Mydecine, we are excited to expand our drug development program to include the improvement of entactogenic compounds. The groundbreaking progress that we’ve seen from the Multidisciplinary Association for Psychedelic Studies (MAPS) in its Phase 3 clinical trials of MDMA-assisted psychotherapy for Post-Traumatic Stress Disorder (PTSD), including receiving Breakthrough Therapy Designation from the Food and Drug Administration (FDA), shows great promise to date. It is our belief that the tailoring of the properties of these compounds will vastly improve their utility to medicine and therapy. This filing is part of our continued efforts to grow our robust IP portfolio as we consistently file for new patents that offer high potential to expand psychedelics for medical use.Rob Roscow, Chief Scientific Officer
This expansive patent would allow Mydecine to scale its coverage in drug development research in lieu of promising discoveries and FDA-approval progress for novel therapeutics, including granting Breakthrough Therapy Designation to MDMA for the treatment of PTSD in recent years. With the filed patent on entactogenic compounds, the company would be able to further develop treatments that precisely match the needs of medical practice, by reducing harm and improving the safety profile when compared to traditional MDMA.
With full government approval through Health Canada for exclusive access to a full cGMP-certified pharmaceutical manufacturing facility, Mydecine continues to advance the clinical progress in its 4 leading novel compounds, MYCO-001 through 004 with the ability to import or export, cultivate, extract or isolate, and analyze active mushroom compounds. The new patent filings are anticipated to populate the pipeline beyond MYCO-004.
In addition to the patent, the Company increases its advantage to legally research psilocybin through its dedicated research labs and AI-assisted international research partnerships, which have led to the recent launch of Phase 2A on psilocybin-assisted psychotherapy to treat PTSD in veterans. The Company’s goal is to continually add novel modifications to its portfolio of bespoke customizable features for psychedelic drugs to strengthen its IP portfolio. The company is scaling its proprietary research and development methods in order to become one of the first to produce and bring to market psilocybin-based treatments.
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