MYIG Mydecine Innovations Group Inc

 
TIDMMYIG 
 
[image] 
 
Mydecine Innovations Group Receives Notice of Allowance from USPTO for its MYCO 
-005 Compound 
 
VANCOUVER, British Columbia, 18 December 2023 (GLOBE NEWSWIRE) -- Mydecine 
Innovations Group Inc. ("Mydecine" or the "Company") (CSE:MYCO) (AQSE:MYIG) 
(OTC:MYCOF) (FSE:0NFA), a forefront biotechnology company dedicated to 
revolutionising mental health and addiction treatment, proudly announces the 
Company has received the issuance of a Notice of Allowance by the United States 
Patent and Trademark Office (USPTO) for their MYCO-005 compound, "Novel Aza 
-Substituted Psilocin Analogs And Methods Of Synthesizing The Same Unique 
Compound (US20230348380A1)". 
 
This Composition of Matter patent underscores Mydecine's commitment to 
innovation in mental health therapeutics. MYCO-005, a novel compound, that 
mimics psilocin as an improved version engineered to act therapeutically similar 
to psilocin while dramatically reducing highly undesirable side effects from 
long-term sustained use of psilocybin and almost all-known classical serotonin 
agonists such as (LSD, DMT, etc.), specifically addressing valvular fibrosis 
concerns recognised by leading clinicians and FDA regulators. MYCO-005 is 
designed with selective binding to 5-HT2A receptors and does not bind to 5-HT2B 
receptors for both macro and microdosing. 
 
In 2020, Mydecine filed its provisional patent application encompassing multiple 
families of psilocin analogs, with MYCO-005 emerging as a second-generation 
breakthrough. This compound addresses stability and receptor binding concerns 
associated with first-generation compounds, introducing a novel psilocin analog 
with potentially heart-safe microdose-enabling properties, eliminating a known 
cardiovascular risk factor. 
 
Microdosing, gaining recognition as a potential treatment for ADHD, depression, 
and anxiety, is often hindered by the cardiovascular risks associated with 
psilocybin. Chief Scientific Officer, Rob Roscow, highlighted the risks linked 
to the 5-HT2B receptor and heart valve tissue fibrosis. 
 
"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," stated Roscow. This 
advancement positions MYCO-005 as a safer alternative for those suffering from 
anxiety or depression disorders. 
 
Mydecine Innovations Group continues to lead the way in biotechnological 
advancements, dedicated to pioneering safer and more effective solutions for 
mental health and addiction disorders. 
 
The Directors of Mydecine take responsibility for this announcement. 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by 
virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in 
accordance with the Company's obligations under Article 17 of MAR. 
 
For more information, please contact: 
 
Media Contact 
 
pr@mydecineinc.com 
 
Investor Relations 
 
investorrelations@mydecineinc.com 
 
[image] 
 
On behalf of the Board of Directors 
 
Joshua Bartch, Chief Executive Officer contact@mydecineinc.com 
 
AQSE Corporate Advisor 
 
Novum Securities LimitedTel: +44 (0)207 399 9400 
 
David Coffman/ George Duxberry 
 
For further information about Mydecine Innovations Group, Inc., please visit the 
Company's profile on SEDAR+ at www.sedarplus.com or the Company's website at 
www.mydecine.com. 
 
About Mydecine Innovations Group Inc. 
 
Mydecine Innovations Group is a publicly traded, pre-revenue 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). Through 
its exclusive partnership with Applied Pharmaceutical Innovation based at the 
University of Alberta, 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-short-acting chemical analogs derived from MDMA for treating various 
conditions, including anxiety and pain. Mydecine utilizes cutting-edge 
artificial intelligence (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. 
 
This news release contains forward-looking information about Canadian securities 
laws regarding the Company and its business. It relates to future events or 
performance and reflects management's 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 by stating that specific 
actions, events, or results "may," "could," "would," or "will" be taken, occur, 
or be achieved. Such forward-looking statements reflect management's beliefs and 
are based on assumptions 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 protect and enforce its intellectual 
property adequately, the Company's ability to bring its products to commercial 
production, the 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, other 
factors may cause effects not to be as anticipated, estimated, or intended. 
There can be no assurance that such information will be accurate, as actual 
results and future events could differ materially from those anticipated. These 
forward-looking statements are made as of the date hereof. The Company is not 
obligated to update or revise them to reflect new events or circumstances as 
required under applicable securities legislation. 
 
 
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