Company files seven provisional patent applications with United States Patent and Trademark Office
DENVER, Jan. 07, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (CSE: 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, announced the filing of seven provisional patent applications with the United States Patent and Trademark Office (USPTO) in its efforts to discover valuable novel compounds in fungi for medicinal and pharmaceutical use.
In an effort to better understand the medicinal properties of fungi-based compounds, Mydecine is developing novel intellectual property around medicinal mushrooms and psychedelic medicines for the professional healthcare market. Led by Chief Science Officer Rob Roscow, the developing patent portfolio from Mydecine is targeted at addressing the known shortcomings of psilocybin for medical uses and includes novel drug design and delivery mechanisms, precise doseable formulations and new technologies for improved use of psilocybin in a medical context.
“These patent filings serve as a significant milestone for Mydecine in our efforts to build a unique and proprietary intellectual property portfolio of pharmaceutical and natural health products that address the growing interest in fungi-based solutions,” said Josh Bartch, CEO of Mydecine. “We believe in the power and potential of these compounds to treat and provide incredible relief to those suffering from mental health issues and will continue forward with our research efforts to better understand how they work together to augment the mind and body in new and powerful ways.”
The Mydecine team believes, through its extensive in-house research and development efforts and robust partnerships with world-class research institutions and universities, that it has data-supported evidence of novel compounds in fungi that can be eventually applied to improve the properties of existing over-the-counter products and pharmaceuticals.
“By applying a distinct pharmaceutical chemistry approach in our research and development, we are well on our way to better understanding the key attributes and mechanisms of medicinal and psychedelic mushrooms that allow them to positively impact our thoughts, feelings, beliefs, and attitudes,” said Denton Hoyer, Ph. D and Mydecine Scientific Advisory Board Member. “As this valuable new natural product category continues to evolve, we believe there is great opportunity to use this knowledge to make a sustainable imprint on society and improve the overall health and wellbeing of all.”
About Mydecine Innovations Group
Mydecine Innovations Group™ is a life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing wellbeing. The company’s world-renowned medical and scientific advisory board is progressing a robust R&D pipeline of psychedelic derived therapeutics, novel compounds, therapies, and controlled drug delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, extract, and analyze natural and synthetic psychedelic compounds with full government approval through Health Canada.
On behalf of the Board of Directors:
Joshua Bartch, Chief Executive Officer
Charles Lee, Investor Relations
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. 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, 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. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.