leadf
logo-loader
viewMydecine Innovations Group Inc
(
OTC:MYCOFFRA:0NFANEO:MYCO
)

Mydecine selects substance use disorder and smoking cessation for its psychedelic molecule MYCO-004

MYCO-004 is a patch-delivered tryptamine compound and its properties include short duration, transdermal, precision dosing, and long-term compound stability  

Mydecine Innovations Group Inc - Mydecine Innovations Group selects substance use disorder and smoking cessation for its psychedelic molecule MYCO-004
MYCO-004 was base templated from the company’s MYCO-001, pure psilocybin from natural fungal sources

Mydecine Innovations Group (NEO:MYCO) (OTCMKTS:MYCOF) (FRA:0NFA) has selected substance use disorder and smoking cessation as the initial target indications for its proprietary psychedelic molecule MYCO-004. 

MYCO-004 is a patch-delivered tryptamine compound and its properties include short duration (less than two hours), transdermal, precision dosing, and long-term compound stability.       

Mydecine said it picked substance use disorder and smoking cessation for MYCO-004 as it addresses the underserved and drastic need for treatment. 

READ: Mydecine Innovations kicks off machine learning-based drug discovery program with the University of Alberta

The company noted that there are 19.7 million American adults suffering from substance abuse disorder. Of those, 8.5 million suffer from both substance abuse disorder and mental health disorders. 

Specific to nicotine addiction, the company said there is a current lack of efficiency and safety in the current nicotine treatments. Tobacco, and its active ingredient nicotine, is one of the most highly addictive substances in the world and one of the deadliest.

Mydecine said its MYCO-001, pure psilocybin from natural fungal sources, is in planning for late-stage clinical trials to treat smoking cessation, ensuring the quickest time course to regulatory approval. 

MYCO-001’s analogous molecules have shown significantly higher efficacy rates in treating smoking cessation in well-known studies conducted by Johns Hopkins University while also showing significantly better safety profiles, the company added.

"We have taken a methodical and iterative staged approach in our drug development pipeline developing first and second-generation treatments to address some of society's largest unmet needs,” said Mydecine CEO Josh Bartch in a statement. “MYCO-001 is our first iteration of a generation one drug for both smoking cessation and PTSD, which is currently in a late-stage clinical trial and we believe will be one of the first psychedelic treatments to receive approvals from the FDA.” 

Bartch added: “Generation one analogous MYCO-001 pure psilocybin, in which MYCO-004 was base templated from, has shown efficacy rates as high as 85% in a study conducted out of Johns Hopkins University. MYCO-004 represents a second-generation improvement to replace the first generation of drugs with improved half-life control, uptake time, scalability and stability.” 

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

Quick facts: Mydecine Innovations Group Inc

Follow
OTC:MYCOF

Price: 0.2773 USD

Market Cap: $66.19 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Mydecine Innovations Group outlines plan for MYCO-001 Phase 2/3 Smoking...

Mydecine Innovations Group Inc (OTC:MYCOF, FRA:0NFA, NEO:MYCO) (OTCMKTS:MYCOF) (FRA:0NFA) (NEO:MYCO) CEO Joshua Bartch tells Proactive it has partnered with Principal Investigator Dr Matthew Johnson of Johns Hopkins University on a study evaluating the administration of its lead drug candidate...

2 weeks, 3 days ago

2 min read