Partnership will considerably increase Mydecine’s synthesis capabilities of novel molecules
DENVER, May 05, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, has announced a partnership with LeadGen Labs, a custom synthesis and contract research organization, to support Mydecine’s novel psychedelic drug development efforts and increase the number of novel molecules the Company can synthesize concurrently.
Following the announcement of the Company’s four initial drug candidates, Mydecine and LeadGen Labs will work to synthesize novel psychedelic molecules. LeadGen Labs, a full-service contract research organization, providing expertise in custom synthesis and route design, will work with the Mydecine research and drug design team to target these novel molecular entities and enhanced formulations, including effective dosages and safety.
“We are experiencing a renaissance of medical interest in the classical psychedelics and Mydecine is working to iteratively improve and better understand the potential therapeutic benefits of these known and unknown molecules,” said Rob Roscow, Mydecine Chief Science Officer. “We are excited to begin production on these novel patent pending molecules that hold the promise of improving the therapeutic use of psychedelics through enhanced safety and dosage control. Additionally, the initial batch of novel molecules we will research represent just the first of numerous families of molecules, representing potentially dozens of patentable compounds.”
“Complementary to Mydecine’s work with the University of Alberta and Applied Pharmaceutical Innovation (API), the partnership with LeadGen Labs expands our existing research infrastructure and allows for more rapid scaling of Mydecine’s drug development pipeline and patent strategy,” added Josh Bartch, CEO of Mydecine. “With the ability to swiftly synthesize and analyze these various families of novel molecules through both partnerships, we are in a strong position to support the latter stages of our drug development pipeline and build upon our intellectual property portfolio that is focused on building upon the value currently present in natural molecules with patentable safety features that will enhance therapy, reduce anxiety and maximize delivery mechanisms.”
About Mydecine Innovations Group
Mydecine Innovations Group™ (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.
At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.
For more information, please contact:
Anne Donohoe / Nick Opich
KCSA Strategic Communications
1-212-896-1265 / 1-212-896-1206
Charles Lee, Investor Relations
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.