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Psychedelics Transition from Experimental Treatment to Major Pharmaceutical Industry

FN Media Group Presents Microsmallcap.com Market Commentary


News provided by

Microsmallcap.com

Nov 20, 2020, 08:50 ET

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NEW YORK, Nov. 20, 2020 /PRNewswire/ -- Psychedelic medicine is emerging as a breakthrough for mental health. After decades of research, drugs like psilocybin and ketamine are finally ready to move from the lab into the pharmacy and the therapist's office. Several psychedelic treatments have already received approval from the US Food and Drug Administration (FDA), including Johnson & Johnson's (NYSE:JNJ) ketamine-life depression drug, and more are likely to follow suit in the years to come. Now that the FDA has come to realize the potential benefits of psychedelic medicines, pioneering biotechnology companies like Compass Pathways (NASDAQ:CMPS), Numinus Wellness Inc. (TSXV:NUMI) (OTCPK:LKYSF), Mind Medicine (MindMed) Inc. (NEO:MMED) (OTCQB:MMEDF), and Mydecine Innovations Group Inc. (CSE:MYCO) (MYCOF) have the opportunity to take the progress made by researchers and transition it into market-ready pharmaceutical products.

Mydecine Innovations Group Inc. (CSE:MYCO) (MYCOF) is an emerging biopharma and life sciences company that is committed to the research, development and acceptance of alternative nature-sourced medicine. Through its portfolio of companies and experienced leadership team, Mydecine Innovations is looking to provide the mental health industry with innovative solutions.

Health Crisis Highlights Growing Need for Alternative Treatments for Mental Illness

Since the start of the global pandemic, the healthcare system has taken a beating as frontline workers struggled to keep up with the rising cases while still providing care for those with other illnesses. The crisis has also led to an all-time high in anxiety and depression in the US, with 47.1 million Americans (19%) now living with a mental health condition, including front line workers, who are also at a higher risk of developing post-traumatic stress disorder (PTSD).

Mydecine Innovations Group Inc. is looking to tackle the problem from all angles through its clinical trials and digital mental health platform. On November 17, Mydecine announced the international expansion of its Phase 2A clinical trials of psilocybin-assisted psychotherapy to treat chronic PTSD in veterans and emergency medical services (EMS) personnel.

The trials, which will take place at prominent medical centers in Ontario, Alberta, the Netherlands, along with four other trial sites developing in the US and the UK, will be used to explore how the brain responds to psychedelics and develop a better understanding of the biological underpinnings of the experience. Mydecine Innovations plans to use the data from the studies to build on its data in the hopes of receiving FDA breakthrough designation.

The company also bolstered its leadership team with the appointment of its new Chief Medical Officer, Dr. Rakesh Jetly, a medical advocate for the use of psychedelic-assisted psychotherapy and a prominent voice in the fight against PTSD and other mental health issues.

Apart from its efforts to cultivate and develop psychedelic therapies to combat mental illness, Mydecine Innovations has launched a mental health-focused telehealth digital platform to assist therapy patients with psychedelic aftercare, track moods, and combat addiction. Mindleap, which is available on iOS and Android, is an AI-powered first-to-market digital health platform designed by clinical psychologists and neuroscientists that combines telehealth with mood, emotion, and habit tracking.

The Mindleap Health app allows Mydecine to increase access to much-needed mental health services, while at the same time gaining a piece of the growing telehealth industry, which is projected to become a $560 billion market by 2027.

FDA Gives Green Light to Psychedelic-Based Treatments for Depression

The psychedelic medicine market has come a long way in the last couple of years, with regulators jumping on board and fast tracking novel treatments based on a variety of psychedelics, and companies getting the go-ahead to do more in-depth research into psychedelics.

One such company making headway with its clinical research is neuro-pharmaceutical company Mind Medicine (MindMed) Inc. (NEO:MMED) (OTCQB:MMEDF). Earlier this month, the company completed the Phase 1 LSD study in partnership with University Hospital Basel's Liechti Lab in Switzerland. MindMed is now preparing for Phase 2b of Project Lucy, which intends to evaluate the efficacy of LSD-assisted therapy for anxiety disorders and other medical conditions. The Phase 1 study used a double-blind, randomized, placebo-controlled, crossover design in 16 healthy participants to measure LSD dose-dependently induced subjective responses starting at microdoses (25 ug) up to experiential doses (200 ug).

Apart from preparing for Phase 2b, MindMed and University Hospital Basel are also actively filing patent applications on clinical trial data generated through its clinical trials and R&D.

In 2018, recently listed life sciences company Compass Pathways (NASDAQ:CMPS) was given breakthrough therapy designation from the FDA for its psilocybin therapy for treatment-resistant depression. The company has since been granted a US patent for its synthesized investigational formulation and is conducting Phase 2b trials.

The first public company to gain FDA approval for a psychedelic-based treatment was pharmaceutical giant Johnson & Johnson (NYSE:JNJ). The company's Spravato esketamine nasal spray, which is used in conjunction with an oral antidepressant to treat treatment-resistant depression (TRD), gained FDA approval in March 2019.

Several other novel drug developers have since followed suit thanks to growing interest in the sector.

In June 2020, Numinus Wellness Inc. (TSXV:NUMI) (OTCPK:LKYSD) became the first publicly-traded company in Canada to be granted a licence by Health Canada to conduct research to standardize the extraction of psilocybin from mushrooms. This approval allows the company to move forward with the production of naturally-sourced psilocybin from mushrooms to support psychedelic-assisted therapy and research at lower costs than the currently-produced synthetic psilocybin.

Mydecine Innovations is preparing to start its Phase 2a clinical trials of psilocybin-assisted psychotherapy to treat chronic PTSD in veterans and EMS personnel. The trials will be conducted at Leiden University Medical Centre in the Netherlands, the University of Western Ontario, and the University of Alberta, but the company is also exploring additional trial sites across North America including Los Angeles, New York, Boston and Ottawa.

For more information on Mydecine Innovations Group Inc, please visit this link.

Disclaimer:  Microsmallcap.com (MSC) is the source of the Article and content set forth above. MSC owns and operates Streetsignals.com.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Mydecine Innovations Group Inc.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

Media Contact:
FN Media Group, LLC 
[email protected] 
+1(561)325-8757

Source: Microsmallcap.com

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