Mydecine Innovations Group (OTC: MYCOF) has announced its four lead novel drug candidates as it prepares for its Pre-Investigational New Drug (IND) meetings with the FDA and Health Canada. Mydecine said it believes that these drug candidates are unique and patentable in the United States and Canada and has received advice from counsel confirming such belief.
“Our first four novel drug candidates deliver on our long-term strategic road map for drug development with regular milestones that iteratively add value over time. By increasing the complexity of these compounds, we are increasing layers of patents applied, which in turn, also adds pharmaceutical value to the drug candidates,” said Joshua Bartch, Co-Founder, and CEO, Mydecine Innovations Group. “The promise of these molecules is undeniable. By providing scalable, more stable compounds and delivery mechanisms for research and development, it means that new treatments for previously untreatable mental illnesses are close at hand.”
The four initial drug candidates include:
- MYCO – 001 is pure psilocybin from natural fungal sources. Its target uses include mid-to-late stage clinical trials.
- MYCO – 002 is an entactogenic compound that has been created with the goal of reducing harm and improving the safety profile vs. traditional MDMA.
- MYCO – 003 is a psilocybin-based formula with reduced anxiety potential, with the aim of removing the possibility of “bad trips,” even with severely ill patients.
- MYCO – 004 is a patch-delivered tryptamine compound. Properties include short duration (~2hours), transdermal, precision dosing, and long-term compound stability. The target use is mid-to-late-stage clinical trials, taking advantage of current publicly available data.
“In addition to Mydecine’s natural product portfolio, we believe these natural compounds also provide excellent starting points for new compounds which further meet the demands of the clinic and have improved safety, efficacy, and formulation properties. Our research focus on molecular design achieves these goals,” said Dr. Hoyer who is a drug-discovery expert and Mydecine Scientific Advisory Board Member.
“These candidates add layers of safety and dose-ability for the use of psychedelic compounds in medical research and eventually medical practice,” said Chief Science Officer and Co-Founder of Mydecine Rob Roscow. “We are essentially taking the value that is currently present in natural molecules, such as the psilocybin molecule in MYCO-001, and adding in patentable safety features. We want to create attractive features for the research community by providing compounds that can enhance therapy, reduce anxiety, and maximize delivery mechanisms.”