Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) is a biotechnology company developing innovative first- and second-generation novel therapeutics to treat unmet needs in mental health and addiction disorders. Focusing on psychedelic compounds and other novel molecules with therapeutic potential, the Mydecine business model combines the company’s world-class team and drug development infrastructure with advanced technology, clinical trials and data outcomes.
Founded in 2020 to address a significant lack of innovation in the mental health treatment environment, Mydecine currently is pursuing indications such as addiction, PTSD and anxiety. By collaborating with some of the world’s foremost authorities, the company aims to responsibly fast track the development of novel medicines to provide patients with safer and more effective treatment options.
Mydecine’s leadership team combines vast experience in drug development, medicinal chemistry, clinical trials, and mental health and addiction disorders. Supported by a top-notch medical and scientific advisory board of global experts, the company is progressing a robust R&D pipeline of psychedelic-derived therapeutics, novel compounds and controlled drug delivery systems.
Research and Technology
Mydecine’s research strategy hinges on identifying and developing novel psychedelic and non-psychedelic molecules for medical use. Using molecules found in nature as building blocks to produce second-generation drugs, the company’s R&D efforts focus on compounds that may enable safer, more effective treatments for patients, as well as providing clinicians with better management of dosage and drug behavior.
Through an exclusive partnership with Applied Pharmaceutical Innovation and the University of Alberta, Mydecine leverages the benefits of artificial intelligence and machine learning (AI/ML). The university’s faculty of pharmacologists is currently ranked in the top 15 in the world for pharmaceutical drug discovery and top three in the world for artificial intelligence.
Using AI/ML, the team can screen billions of compounds rapidly, without the need to produce them, and can immediately collect data on viable drug candidates prior to further investment in development. By centering drug discovery efforts on AI/ML, Mydecine is positioned to discover drug enhancements cost effectively and efficiently. The University of Alberta partnership brings an extraordinarily strong depth of experience in pharmaceutical and natural products chemistry and also allows the company to complete all production for its clinical trials.
Mydecine’s pipeline currently consists of drug candidates that provide various enhancements such as improved delivery mechanisms, safety, controllability, stability and shelf-life. These drug candidates are part of psychedelic-assisted therapy programs and are in clinical trials or pre-trial stages as potential treatments for smoking cessation and PTSD.
Mydecine’s clinical trial highlights include a five-year research agreement with Johns Hopkins University, one of the most experienced academic institutions in conducting clinical research related to psychedelic therapies.
The Mindleap Platform
Mindleap.com is the first international virtual health platform to include psychedelic integration. As a wholly owned subsidiary of Mydecine, Mindleap has access to world-class research personnel who contribute directly to the build-out and improvement of this AI-powered dashboard, designed to help optimize one’s mental healing journey.
Mindleap provides features for introduction and post-care integration that include fact-based education, 1:1 video coaching, trustworthy content, wellness guidance, and even a built-in health journal. Additionally, the technology enables healthcare professionals to remotely administer the majority of their protocol for psychedelic-assisted treatment, enhancing accessibility and scalability. Mindleap is also fully HIPAA and PIPEDA compliant, so everything is private and discreet.
Mindleap currently has thousands of downloads and hundreds of licensed mental health coaches that can generate their own part-time or full-time income directly through the platform. As subscriber growth continues, Mindleap will expand its development team and broaden connections with leading healthcare organizations, practitioners, and researchers through its clinic program.
The platform is available on iOS and Android, with an expanded web version on the way.
Amid a growing body of clinical evidence demonstrating the therapeutic benefits of psychedelics as medicine, Mydecine is positioning for opportunity across growing sectors.
The global smoking cessation market is expected to increase at a CAGR of 16.9% to reach nearly $64 billion by 2026.
The psychedelic therapeutics market, which is in its very early stages, shows wide-ranging estimates for the current value and expected growth. Market forecasts range from $6.5 billion by 2030 to more than $69 billion as soon as 2025, growing at CAGRs from 8.2% and 15%, respectively.
Joshua Bartch is Chief Executive Officer and Chairman of Mydecine Innovations Group. He is an experienced entrepreneur who co-founded AudioTranscriptionist.com and founded Denver-based dispensary Doctors Orders in 2009. He also founded a boutique investment firm that operated throughout the U.S. and Canadian markets. In 2014, Bartch co-founded Cannabase.io, the USA’s most significant and sophisticated legal cannabis wholesale platform.
Dr. Rakesh Jetly, OMM, CD, MD, FRCPC, is the Chief Medical Officer of Mydecine. He was formerly Chief of Psychiatry for the Canadian Armed Forces, retiring in 2021 with the rank of colonel after 31 years of service. He began his career as a general duty medical officer and flight surgeon and spent his final 20 years of service as a psychiatrist. He maintains academic appointments at Dalhousie University and The University of Ottawa. He is the inaugural CF Brigadier Jonathan C. Meakins CBE, RCMAC, Chair in Military Mental Health at the Royal Ottawa Hospital.
Robert Roscow is Chief Scientific Officer of Mydecine. As a geneticist, he has spent his academic and professional careers looking for valuable and unique medicinal molecules found in nature. His innovations were applied at Canopy Growth and ebbu, where he ran those companies’ genetics divisions. He has leveraged his expertise to maximize industrial production of cannabinoids in a pharmacological context, resulting in multiple patent filings.
Damon Michaels is Chief Operating Officer of Mydecine. He previously consulted for various hemp businesses through his company, Emerald Baron. Before that, he served as GM for ebbu, the leading multi-platform cannabinoid research and technology firm based in Colorado. He has held leading roles with multiple large brands throughout the cannabis vertical. He also developed a national snowboard brand.
- Mydecine’s portfolio includes a robust line of NCEs (New Chemical Entities) and medicines based on compounds found in psychedelics, including four lead clinical trial drug candidates.
- The company has an exclusive partnership with Applied Pharmaceutical Innovation providing access to world-class, end-to-end drug development infrastructure under one roof.
- Mydecine’s management team features highly experienced chemists, doctors and scientists specialized in pharmaceutical chemistry, natural products chemistry and drug development.
- The company has entered a five-year master collaboration research agreement with Johns Hopkins University to research novel psychedelic therapies for mental health and addiction disorders.
- Research out of Johns Hopkins has shown promising efficacy data using psilocybin as a smoking cessation treatment, with an 80% abstinence rate at six months.
- Mydecine is undertaking the only industry sponsored clinical trial assessing psilocybin for smoking cessation.
- Its lead drug candidate, MYCO-001, is being supplied for a multi-site NIDA (National Institute on Drug Abuse) grant-funded smoking cessation study, marking the first time in over 50 years that the U.S. government has funded a study of a psychedelic compound.