Mydecine Innovations (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA), a forefront biotechnology company dedicated to revolutionizing mental health and addiction treatment, has received the issuance of a Notice of Allowance by the United States Patent and Trademark Office (“USPTO”). According to the announcement, the notice was for MYCOF’s proprietary MYCO-005 compound, “Novel Aza-Substituted Psilocin Analogs and Methods of Synthesizing the Same Unique Compound (US20230348380A1).” The announcement noted that the Composition of Matter patent reflects Mydecine’s commitment to innovation in mental-health therapeutics. A novel compound, MYCO-005 is designed to mimic psilocin while reducing undesirable side effects that can result from long-term use of the substance; the compound specifically addresses valvular fibrosis concerns. Mydecine filed a provisional patent application in 2022. The application encompassed multiple families of psilocin analogs, with MYCO-005 emerging as a second-generation breakthrough. The company noted that its compound addresses stability and receptor-binding concerns associated with first-generation compounds and has potentially heart-safe microdose-enabling properties, eliminating a known cardiovascular risk factor. “Mydecine’s research on MYCO-005 demonstrates robust binding to the classic psychedelic 5-HT2A receptor while avoiding binding to the 5-HT2B receptor, suggesting an enhanced safety profile for microdosing,” said Mydecine Innovations Group chief scientific officer Rob Roscow in the press release. “This advancement positions MYCO-005 as a safer alternative for those suffering from anxiety or depression disorders.”
To view the full press release, visit https://ibn.fm/3bybD
About Mydecine Innovations Group Inc.
Mydecine Innovations Group is a publicly traded, prerevenue biopharmaceutical company that began operations in North America and Europe in early 2020. Mydecine was founded to increase physicians’ access to serotonin-modulating medicine. Recent research has demonstrated the therapeutic potential of psychedelic substances such as psilocybin and MDMA for treating intractable conditions such as pain, anxiety, depression, addiction and PTSD, along with neurodegenerative disorders. Mydecine believes these compounds can be safer, more effective, and more accessible for patients and medical professionals through modern drug chemistry paired with artificial intelligence (“AI”). Mydecine is developing innovative medications for target indications with high mortality rates that have lacked innovation for decades and are controlled by dominant corporations. Mydecine developed several prodrug families, beginning with a psilocybin-derived smoking cessation drug undergoing a NIDA-funded trial at Johns Hopkins University. Mydecine is also developing MYCO-006, or short-acting chemical analogs derived from MDMA for treating various conditions, including anxiety and pain. Mydecine utilizes cutting-edge AI and pharma research infrastructure at the University of Alberta to develop and manufacture new medications to make them affordable and accessible to the general public upon Health Canada and FDA approval. The Mydecine team is enthusiastic about its mission and is dedicated to creating a positive difference in the lives of others. For more information about the company, please visit https://ibn.fm/K3ir1
NOTE TO INVESTORS: The latest news and updates relating to MYCOF are available in the company’s newsroom at https://ibn.fm/MYCOF
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