Mydecine Innovations Group Announces Filing of Provisional Patent for the Treatment of PTSD with Psilocybin
VANCOUVER, British Columbia, Oct. 07, 2020 (GLOBE NEWSWIRE) -- Mydecine Innovations Group Inc. (CSE: MYCO) (OTC: NLBIF) (FSE:0NF) ("Mydecine" or the "Company"), is pleased to announce its wholly-owned subsidiary, NeuroPharm Inc. ("NeuroPharm”), has filed a provisional patent application with the United States Patent and Trademark Office (USPTO) covering composition of matter claims regarding a psychedelic therapy enhancer for the treatment of certain psychiatric disorders, including enhancements to treatments for PTSD.
The provisional patent application covers, among other things, an enhancer that reduces the enzymatic breakdown of psilocin, the active ingredient in psilocybin that causes psychedelic effects. This may result in an enhanced psychedelic experience in the treatment of PTSD, whether by extended in time, intensity, intensity per dose, or a combination thereof.
NeuroPharm is a developer of natural health, psilocybin-based treatments for PTSD and mental health disorders in the veteran community. In collaboration with its strategic partners, is deploying evidence-based medicine in the establishment of psilocybin-based therapies addressing the unmet needs of high-risk constituents. NeuroPharm is focused on developing unique and proprietary technologies to treat various mental health conditions frequently experienced by veterans such as PTSD, depression, addiction, anxiety, and panic disorders as well as migraine and cluster headaches.
Josh Bartch, CEO of Mydecine, commented: “The invention covered by this exciting provisional patent filing holds great promise for the treatment of a range of psychiatric disorders. By reducing the enzymatic breakdown of psilocin, we may be able to enhance the therapeutic efficacy of psilocybin at lower dosages. Dose reduction may convey a range of benefits including an enhanced psychedelic experience, limiting non-therapeutic impacts and lower costs of administration. This helps to advance our mission to develop and bring to market treatments addressing a range of mental health conditions including PTSD, depression and anxiety.”
Mydecine Innovations Group Inc.
Mydecine Innovations Group is a life sciences company dedicated to the development and commercialization of adaptive pathway medicines, natural health products and digital health solutions. Mydecine’s experienced cross functional teams have the capabilities to oversee all areas of drug development including synthesis, drug delivery system development, clinical trial execution, through to product commercialization and marketing. By leveraging strategic partnerships with scientific, medical, military, and clinical organizations Mydecine is at the forefront of the efficient development of psychedelic derived medicines and therapeutic solutions. Our trailblazing portfolio of companies is focused on providing innovative and effective treatment options that can help millions of people live healthier lives.
About NeuroPharm Inc.
NeuroPharm Inc. is a Canadian-based healthcare company developing a unique set of pharmaceutical and natural health products addressing mental wellness in vulnerable populations. It is committed to bringing to market adaptive plant-based therapies for use as an adjunct to clinical therapy to treat traumatic disorders specifically observed in veterans and first responders. NeuroPharm was founded by a dedicated group of former military personnel motivated to seek alternative treatments addressing these traumatic disorders experienced by many veterans following active service. The management team is proud to include contributions and advisory from esteemed scientific, academic, clinical and product development specialists.
For further information about Mydecine Innovations Group Inc., please consult the Company's profile on SEDAR at www.sedar.com or visit the Company's website at http://mydecine.com/. For further information about We Are Kured, please visit their website at www.wearekured.com.
On Behalf of the Board of Directors
Chief Executive Officer
Charles Lee, Investor Relations
+1 (250) 488-6728
Cynthia Salarizadeh, PR
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.