Mydecine Archives - Green Market Report

StaffStaffJanuary 27, 2021
Psychedelica.jpg

4min2480

Mydecine

Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF)  has submitted a formal application to list its common shares on the NASDAQ Stock Exchange. NASDAQ is the second-largest exchange by market capitalization worldwide and is home to many of the world’s best technology companies. “We believe the Company is entering an accelerated growth phase and the timing could not be better for listing our Shares to NASDAQ,” said Josh Bartch, CEO & Chair of Mydecine. “This listing is intended to open the investment opportunity to a larger and more diverse pool of investors and help create greater shareholder value. A listing on the NASDAQ Capital Market is a natural progression for the Company and our shareholders.”

NeonMind

NeonMind Biosciences Inc. (CSE: NEON) has appointed pharmaceutical executive Robert Tessarolo as its President and Chief Executive Officer.
Mr. Tessarolo has 25 years of experience in the pharmaceutical industry. Most recently he held the position of President and Chief Executive Officer of Mind Medicine (Mindmed) Inc., a psychedelic drug discovery and drug development company now traded on the NEO exchange, from September 2019 to January 2020.  Prior, Mr. Tessarolo was President and Chief Executive Officer of Cipher Pharmaceuticals Inc., a diversified specialty pharmaceutical company listed on the Toronto Stock Exchange. His experience includes executive and key leadership roles that span over two decades including  commercial and business development experience with obesity, addiction and neurologic assets.
“These are exciting times in psychedelic drug development. There is an array of dynamic molecules that have been well characterized over the years but have not been adequately studied in the rigorous clinical trials necessary for regulatory approval. NeonMind grabbed my attention with its distinctive focus on the obesity market and desire to bring new treatment modalities to patients suffering with obesity. Over the years promising new drugs to treat obesity have failed to gain regulatory approval.  This market remains underserved and patients dissatisfied with current treatment options. A safe and effective new approach would be well received,” says NeonMind President and CEO, Robert Tessarolo. “NeonMind’s unique intellectual property portfolio makes it well positioned for growth. I’m grateful to be at the helm of this organization to lead its growth as it matures and makes what could be a truly significant impact on the health and well-being of populations worldwide.”
Ehave
Ehave, Inc. (OTC Pink: EHVVF) announced it is exploring how palliative patients could benefit from its Ketamine home delivery platform, KetaDASH. KetaDASH will be based on a dashboard that provides ketamine to patients who have had it prescribed by a physician. The dashboard will provide an objective view of performance metrics and allow KetaDASH to ensure necessary medical guidance, supervision, and support.
Ben Kaplan, CEO of Ehave said, “Our goal is to provide an IV service that will allow medical professionals to provide psychedelic-assisted therapies in the comfort and convenience of their patients’ homes. We believe a large number of patients prefer a medical technician come to their home over going to a clinic.”

StaffStaffDecember 9, 2020
psychedelic.jpg

5min4370

Mydecine Innovations

Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) announced that it has completed its first commercial harvest of 20 kilograms of psilocybin mushrooms at its research and cultivation facility in Jamaica. The company said it is now preparing to export the harvest to its Canadian cGMP Facility which has a Health Canada schedule 1 Dealer’s License attached to it, allowing for legal import.

“We are pleased to announce the completion of our first commercial harvest of natural psilocybin mushrooms,” said Joshua Bartch, CEO and Chairman of Mydecine. “There is more research needed on these compounds in order to better understand the entourage effect experienced by patients which has shown dramatically effective results compared to single-molecule synthetic psilocybin in preliminary studies. As the industry grows, the need for naturally occurring psilocybin and access to large quantities of these molecules will be paramount and we are excited to be the first to advance this movement at scale.”

Mydecine said that its final product will be made available for purchase by other licensed institutions and companies conducting clinical research into the efficacy of these compounds to treat various health conditions including anxiety, addiction, depression and PTSD. Portions of the harvest will also be used for Mydecine’s proprietary genetic, pharmacology, and clinical research. The clinical use will be for the studies and developing protocols of psilocybin-assisted psychotherapy to treat PTSD in veterans and other frontline workers.

MindMed

Mind Medicine Inc. (NEO: MMED) (OTCQB: MMEDF) has filed a final short form prospectus with the securities commissions or similar authorities in each province of Canada, other than Québec with regards to a previously announced bought deal. The company’s underwriters have agreed to purchase 15,800,000 units of MindMed, on a “bought deal” basis, at a price per Unit of $1.90 for gross proceeds of $30,020,000.

The company said it has also granted the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $4,503,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $34,523,000.The Offering is scheduled to close on or about December 11, 2020.

Havn Life

Havn Life Sciences Inc. (CSE:HAVN)  has signed a Memorandum of Agreement with the international veteran’s organization, Heroic Hearts Project. Heroic Hearts is a registered 501(c)(3) nonprofit organization founded in the United States that connects military veterans struggling with mental trauma, to psychedelic therapy options including ayahuasca, psilocybin, and ketamine. Heroic Hearts also provides support and professional counseling to these veterans throughout the process. These veterans typically have tried all the available resources offered by the Department of Veteran Affairs with limited success leaving them with very few options. Heroic Hearts currently has branches across the United States, Canada, and the United Kingdom.

“This collaboration between Havn Life and Heroic Hearts has the potential to make an extraordinary impact on the mental health and wellness of military veterans,” said Susan Chapelle, EVP of Research and Development at Havn Life. “Under the agreement, Havn Life will supply products and compounds to be used in Heroic Hearts’ future clinical studies that will investigate the effects of low-dosage psychedelic compounds on veterans suffering from emotional trauma and PTSD. This progressive research will help develop clinical trial formulations to aid in the recovery of PTSD and other trauma-related disorders. We look forward to working closely with veterans and others with military backgrounds.”


StaffStaffSeptember 24, 2020
mindleap.jpg

5min7621

Mindleap Health, a subsidiary of Mydecine Innovations Group Inc. (OTC:MYCOF) has launched a digital health platform that combines telehealth with mood, emotion, and habit tracking. Starting with psychedelic integration, the Mindleap platform will bring mental health specialists online, enabling a new era of digital mental health and wellness. The company said that later this year it will add other types of mental health specialists such as addiction and holistic wellness specialists.

Simon Abou-Antoun Mindleap Chief Technology officer said, “Mindleap was designed with trust as our number one priority. Our platform is fully secure and all data is encrypted in-transit and at-rest and we are committed to each individual’s right to full privacy and confidentiality when they use our platform.”

The Mindleap platform is available for download for free on both the IOS and Google Play stores. Potential patients can browse vetted and experienced specialists and easily schedule appointments and purchase mental health services. Specialists on Mindleap benefit from the platform’s full freedom to manage their virtual practice on their terms setting their own prices, choosing the hours they work each week (with no minimums or maximums). Mindleap says its specialists are able to offer more personalized support all while providing end-users with the tools needed to track their progress and take control of their mental health.

The Mindleap platform said it will provide a comprehensive space for users to actively engage with specialists starting with aftercare for therapeutic psychedelic use.

Psychedelic Aftercare 

The company has noted that over the past decade, a growing body of research published by leading academic institutions such as Imperial College of London, Yale University, and Johns Hopkins University has demonstrated that psychedelic medicines like MDMA, psilocybin (the active compound ingredient found in magic mushrooms), MDMA, and ketamine can be used as effective and safe treatments to treat a variety of mental health conditions, much better than current pharmacological treatments and therapies. In tandem with this breakthrough knowledge, a series of educational programs have emerged to educate mental health and wellness specialists on how to administer psychedelic medicines in guided therapeutic sessions, as well as to provide care after a psychedelic experience.

Integration specialists help clients through a systematic process that can turn their psychedelic experience into something practical – this can include making sense of unique images or ideas that came to mind during a psychedelic experience, as well as setting new goals, habits and behaviors that can help to improve a person’s life. This process is called integration or aftercare and is an important part of using psychedelics for therapeutic purposes and personal growth.

Mindleap says it does not encourage people to spend time on their phones while taking psychedelic substances, and does not facilitate psychedelic use via the platform, but acknowledges a need for people to connect with trained professionals who can help them discuss and understand their individual psychedelic experiences.

Privacy Concerns

Mindleap’s software development team has built the platform to meet all HIPAA guidelines by implementing secure electronic access to health data and remains in compliance with privacy regulations and best practices. Mindleap said it has strict policies around how data is handled and stored; all data is encrypted in-transit and at-rest, and specialists are not permitted to save their clients’ data – they can only view it temporarily while the user chooses to share it during a video call.


Debra BorchardtDebra BorchardtJuly 14, 2020
shutterstock_526239820.jpg

5min10072

Mydecine Innovations Group Inc. (CSE: MYCO) (OTC: MYCOF) has entered into an agreement to buy Canadian-based NeuroPharm Inc. in a deal valued at roughly $6.3 million. NueroPharm is a  developer of natural psychedelic-based treatments for mental health disorders. Mydecine recently signed an agreement with Applied Pharmaceutical Innovation (API), a translational commercial drug institute at the University of Alberta’s Faculty of Pharmacy and Pharmaceutical Sciences as it makes fast progress in the psilocybin world.

Colonel (Ret’d) Pucci, CEO of NeuroPharm said, “Our mission is to develop and bring to market treatments addressing the mental health conditions frequently experienced by veterans, including PTSD, depression, and anxiety.  We understand the unique circumstances of the veteran community and are devoted to treating these substantial unmet needs.  Our collaborative partnership with Mydecine will accelerate our ability to address the enormous challenge of restoring the overall wellness in the veteran, EMS and frontline personnel communities.”

NeuroPharm said in a statement that it is focused on developing unique and proprietary technologies to treat various mental health conditions frequently experienced by veterans and frontline workers such as PTSD, depression, addiction, anxiety, and panic disorders as well as migraine and cluster headaches. The team is a combination of critically acclaimed scientists and military personnel boasting extensive drug development experience and deep, embedded relationships within the Canadian and U.S. militaries.

It has also established valuable partnerships with leading research organizations in both North America and the EU, and is poised to initiate a series of unique clinical trials this summer.  In conjunction with a preeminent university in the EU, NeuroPharm will be initiating veteran-based clinical trials for the treatment of PTSD with microdosed MDMA/psilocybin formulations.  This inceptive trial will serve as the basis for follow-on trials conducted in Canada and the United States. NeuroPharm’s veteran focus allows for fast-track “adaptive pathways” which should significantly reduce time to market.  

“According to recently published data, as many as 20 veterans on average commit suicide per day in the U.S. alone, and, to me, this is a heart-breaking staggering statistic that unfortunately is overlooked by so many. We owe everything to our veterans, EMS and frontline personnel, yet the best solutions for their long-term mental health are currently non-existent. Aligning ourselves with the amazing team at NeuroPharm affords us the ability to make a positive change,” said Josh Bartch, CEO of Mydecine.

NeuroPharm said it will oversee all areas of the product life cycle, including medical mushroom cultivation, drug delivery system development, clinical trial execution, all the way through to product commercialization. The acquisition will help establish Mydecine plant its flag in psychedelic-based therapies and research.

Deal Terms

Mydecine will give NueroPharm $500,000 when the deal closes and has agreed to fund further capital requirements of NeuroPharm for the 18-month period following closing. Otherwise, it is an all-stock deal. Nine million common shares of Mydecine at a deemed value of $0.70 per payment share will be exchanged with some limitations. The statement said that the Payment Shares issued for seed shares of NeuroPharm shall be subject to restrictions on resale for a period of 24 months from the closing of the acquisition, and will be released in four 25% tranches. The balance of the Payment Shares issuable to NeuroPharm shareholders shall be subject to restrictions on resale for a period of 60 days from the closing of the acquisition. 

Mydecine shall also issue 10 million performance warrants that will be provided to designated officers, employees, and consultants of NeuroPharm and will be paid in tranches when the following goals are met: (i) the successful completion of up to six clinical trials designed to study psilocybin in Veterans suffering from PTSD; and (ii) upon the filing by NeuroPharm of up to five patent applications in Canada and/or the United States relating to the business of NeuroPharm.


Kaitlin DomangueKaitlin DomangueJune 15, 2020
Screenshot-2020-06-15-at-11.03.46-AM-1280x448.png

5min7500

Mydecine (MYCO.CN) (NLBIF) is quickly upping its fungi authority. The mycology-focused company has signed an agreement with Applied Pharmaceutical Innovation (API), a translational commercial drug institute at the University of Alberta’s Faculty of Pharmacy and Pharmaceutical Sciences. 

Mydecine is a fungi and mushroom cultivator/product development company offering unique research and expertise in their field. Their partnership with API will quickly upgrade their value and already existing knowledge in the mycology arena. API is a sea of experts in this field, and the collaboration will provide the company with the ability to fast track its product development. The experts are knowledgeable in areas like pharmaceutical analysis, discovery, drug action, clinical development, and formulation. The Faculty of Pharmacy of Pharmaceutical Sciences consistently ranks in the top 15 for research citations (essentially the strength of the research) by international QS rankings in pharmacy and pharmacology. In addition, Mydecine will be able to utilize further talent and research capabilities by accessing API’s collaborating institute, Alberta Machine Intelligence Institute. 

The partnership allows the company to commence fungal discovery investigations immediately with varietal mushrooms and their extracts, including scheduled substances. Mydecine is GMP and Health Canada eligible, able to conduct R&D, and perform clinical trials. This allows the company to launch research and work that will take others in their field years to achieve. Research and development are set to begin with a significant focus on extracting, analyzing, determining the effects from various compounds of fungi, and researching dosage forms. This is likely to position the company as a leader in the space for years to come. 

Mydecine entered a two-year contract with API and will be paying a total $1,099,345 in year one and $1,136,249 in year two ending February 1, 2022, with year three and beyond being a right of refusal to either party. 

“We see this agreement as a core component of our work as a company,” says Mydedine CEO Josh Bartch “the API team at the Faculty of Pharmacy and Pharmaceutical Sciences gives us the ability to rocket our product development ahead by years, providing the know-how, facilities, and licenses to quickly establish Mydecine as a leader in naturally sourced therapies for a wide variety of indications. The research division also provides a phenomenal synergy with our other recent acquisitions, giving us a dedicated team to explore myco-inspired treatments particularly for areas of high need such as mental health.”

“Back to the fungal future,” Dr. Neal Davies , Dean, Faculty of Pharmacy and Pharmaceutical Sciences “Pharmaceutical activity of fungal metabolites have been known for at least 15 centuries and contemporary research has discovered some novel molecule leads for unique mycological medications for nature-inspired treatments in the new millennium. This bodes very well for the program developing promising treatments.”

“We’re thrilled to be working with Mydecine,” says API CEO , Andrew MacIsaac , “we see their focus as one of growing importance and high potential that will serve them well. By developing a world-class R&D program that discovers potential new lead compounds, synergistic effects, and increased therapeutic indications for mushroom-derived products, Mydecine will stand out in this burgeoning sector.”



About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE


Back to Top

You have Successfully Subscribed!