Mydecine Innovations Group Inc (OTCMKTS: MYCOF) has filed for a new patent for MDMA-like compounds, further expanding its portfolio. According to sources, the company will be able to work on gaining FDA approval for its therapeutics. The same will also help the corporate house to expand its research in drug development.
Mydecine Innovations Group Inc is the first to develop psilocybin-based treatments
With the patent is on entactogenic compounds filed, the company can develop treatments to meet the demands of the medical community. In addition, treatments can be developed with an enhanced safety profile when compared to traditional MDMA. According to a source from Mydecine Innovations Group Inc, it is the pioneer in developing and introducing psilocybin-based treatments in the market.
Chief Scientific Officer is pleased with the drug development program
“At Mydecine, we are excited to expand our drug development program to include the improvement of entactogenic compounds,” said Rob Roscow, Chief Scientific Officer. “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.”
Government approval granted through Health Canada
With the government giving its go-ahead through Health Canada, the company has complete access to a cGMP-certified pharmaceutical manufacturing facility. Thus, besides filing the patient, Mydecine Innovations Group Inc is in a legal position to research psilocybin in its exclusive research labs and partnership with its AI-assisted International partners. As a result, it has launched Phase 2A on psilocybin-assisted psychotherapy to treat PTSD in veterans.
According to a source, the focus of the company is to strengthen its IP portfolio. Mydecine Innovations Group develops innovative solutions for treating mental health problems. At the state-of-the-art mycology laboratory, which operates out of Denver, experts work on genetic research for enhancing the commercial cultivation of rare (non-psychedelic) medicinal mushrooms is on-going.
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