DENVER, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company”), a biotechnology company aiming to transform the treatment of mental health and addiction disorders, today announced the inclusion of a novel molecule with potentially heart-safe microdose enabling properties in their family of psilocin analogs. The Company has named this group of patent pending molecules MYCO-005.
In December of 2021, Mydecine announced a patent application covering multiple families of psilocin analogs, MYCO-005. This family of second-generation molecules directly addresses delivery and stability concerns with the first-generation compounds. The Company reported that its research findings indicate this family of molecules includes a psilocin analog that could potentially be considered a heart-safe microdose drug by eliminating a possible known risk factor.
Microdosing refers to consuming a very low dose of a psychedelic substance to retain some of the benefits without undergoing a psychoactive experience. Although microdosing has been gaining popularity in mainstream media as a possible treatment for indications such as ADHD, depression and anxiety, more research is needed to confirm the safety and efficacy of this method.
“When you consider any drug intended to be taken over a long period of time, there is often a strong medical risk involved,” said Mydecine Chief Scientific Officer Rob Roscow. “When it comes to psilocybin in particular, there are cardiovascular health concerns due to the binding affinity to the 5-HT2B receptor.”
Previous studies have drawn connections between binding to the 5-HT2B receptor and heart valve tissue fibrosis. Classic psilocybin, or psilocin -- its active metabolite, has a strong binding affinity to both the 5-HT2A and 5-HT2B serotonin receptors. Therefore, consuming low doses of psilocybin over a long period of time could cause certain cardiac risks.
“Through our ongoing research, we have found that one of our psilocin analogs is showing strong binding at the classic psychedelic 5-HT2A receptor, but is not binding to the 5-HT2B receptor. This is a strong indication that our improved psilocin analog could potentially produce the same benefits of natural psilocybin with an increased safety profile for microdosing,” added Roscow.
The Company’s patent-pending dermal route to administration provides more control over the drug while potentially eliminating undesirable properties like nausea by bypassing the digestive system. Mydecine’s research will explore this new feature set alongside their patent pending skin permeation technology to produce a low-dosed, time-released patch drug that is non-hallucinatory.
“We are very excited about our MYCO-005 family of molecules,” said CEO Josh Bartch. “Not only have we made improvements to this second generation of compounds to specifically address concerns for medical use, like onset time and shelf stability, but now we believe we have also identified a microdosing compound that is safer than what’s currently available on the market. This is one of many exciting drug discoveries we look forward to sharing in the near term.”
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About Mydecine Innovations Group
Mydecine Innovations Group™ (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) is a biotechnology company developing innovative first- and second-generation novel therapeutics to treat unmet needs in mental health and addiction disorders. Focusing on psychedelic compounds and other novel molecules with therapeutic potential, the Mydecine business model combines world-class technology and drug development infrastructure with clinical trials and data outcome. By collaborating with some of the world’s foremost authorities, Mydecine aims to responsibly fast track the development of novel medicines to provide patients with safer and more effective treatment options. Founded in 2020, Mydecine Innovations Group is headquartered in Denver, Colorado, USA, with international offices in Leiden, Netherlands.
Learn more at: https://www.mydecine.com and follow us on Twitter, LinkedIn, YouTube and Instagram.
For more information, please contact:
Media Contact
Morgan Kervitsky, Director of Marketing
pr@mydecineinc.com
Investor Relations
Morgan Kervitsky, Director of Marketing
contact@mydecineinc.com
On behalf of the Board of Directors:
Joshua Bartch, Chief Executive Officer
contact@mydecineinc.com
For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.
This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company's ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company's products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.
