Mydecine Finishes Up Significant 2021 Calendar Year
January 7, 2022
Guest Post By Investor Brand Network
- 2021 marked Mydecine’s patent application for its MYCO-003 drug candidate
- It also marked notable clinical trials on various aspects, including smoking cessation
- Mydecine also got into a 5-year research agreement with JHU for clinical research on the use of psychedelics for therapeutics
- These milestones have laid down the groundwork, not just for Q3 of the 2021 financial year but also for the company’s growth in the 2022 calendar year
Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA), since its inception in 2020, has been aiming to transform the treatment of mental health disorders and addiction through biotechnology. The company has already developed first and second-generation novel therapeutics geared towards treating addiction, post-traumatic stress disorder (“PTSD”), and other mental health disorders.
Mydecine recently released its third-quarter 2021 update and a noteworthy announcement for the 2021 calendar year. It offers a glimpse into achievements to date, and what stakeholders can anticipate in the last quarter of the 2021 financial year and for the 2022 calendar year (https://nnw.fm/RWRU2).
Most notably, Mydecine filed a patent application for its MYCO-003 drug candidate to treat PTSD and anxiety. It also filed a new patent for MDMA-like compounds, as well as a technology patent for the creation of formulations that use nano-emulsion technologies to enhance, stabilize and make repeatable properties of ingredients from traditional medicine (https://nnw.fm/RWRU2).
These and other patent applications are helping to expand Mydecine’s robust portfolio of novel compounds while also increasing value to shareholders.
Going into the last quarter of the 2021 fiscal year, Mydecine is proud to commence with its 5-year research agreement with John Hopkins University (“JHU”) School of Medicine for clinical research related to the use of psychedelics for therapeutics. The company is also excited to proceed with MYCO-001, one of its lead candidates, through Phase 2/3 clinical trials for smoking cessation (https://nnw.fm/RWRU2).
It is projected that by 2026, the smoking cessation market will be valued at $63.99 billion, representing a CAGR of 16.9% over the forecast period- 2018-2026 (https://nnw.fm/4exmo). On the other hand, the psychedelic therapeutics market is estimated to be valued at $6.5 billion by 2030, representing a CAGR of 15% over the forecast period- 2018-2030.
With the growing popularity and interest in psychedelic therapeutic drugs, Mydecine has recognized an opportunity in this segment. This is evidenced by its investment in clinical trials and its advancements with its technologies. From the groundwork laid down over the 2021 calendar year, it is projected that 2022 will be a big year for Mydecine, and offers hope to those suffering from mental health and addiction disorders.
For more information, visit the company’s IBN profile.