FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Mydecine Brands Announces its Move into State-of-the-art 7,500 sq. ft. Specialty Mycology R&D and Product Development Lab in Denver, Colorado.”
Mydecine Brands Inc. (OTC: NLBIF) (CSE: NLB), soon to put into effect its name change to Mydecine Group, is pleased to announce the completion of its wholly-owned and operated world class R&D Lab and Facilities focused on the mycology of the fungtional© mushroom space.
Mydecine Brands Inc. is the parent company operating innovative product divisions in the Naturally Sourced Therapies (NST) space. While controlling a variety of Psilocybin and hemp-derived CBD brands that design, manufacture and distribute cutting edge products, Mydecine Brands Inc. further enhances its portfolio with numerous cultivation properties, retail locations, and other land assets.
Mydecine Brands Inc. is the progressive and innovative Naturally Sourced Therapies (NST) lifestyle group known around the globe. Focusing on the rapidly emerging psilocybin and psychedelic medicines market, the Company’s wholly-owned subsidiary 1220611 B.C. Ltd. (operating as Mydecine Group) (“Mydecine”) is a vertically integrated company engaged to utilize the vast medicinal, health and wellness capabilities of the various compounds found in mycology as a whole. Established to parallel the early emergence of the industry, Mydecine aims to be a pioneer in the cultivation, processing, product development, and research and development of mycology’s exciting compounds through its three divisions, “Mydecine Farms,” “Mydecine Wellness” and “Mydecine Labs.” Furthermore, the Company’s wholly-owned subsidiaries in the hemp-derived CBD space, We are Kured LLC, Drink Fresh Water LLC, Relyfe Brand LLC, Fresh Water CBD LLC and TeaLief Brand LLC have quickly developed into market leaders and maintain extensive retail and cultivation land investments in the United States.
Psychedelic products for medical purposes have been getting more attention in recent years. Last year, the U.S. Food and Drug Administration (FDA) approved Johnson & Johnson’s SPRAVATO™ (esketamine) CIII nasal spray for use in conjunction with an oral antidepressant in adults with treatment-resistant depression (TRD). This FDA approval represents the first new drug for depression in decades. It was also a sign for investors; according to CNBC, Brad Loncar, a biotech investor with Loncar Investments, who specializes in cancer and rare disease, explained that, “A decision (like that) by FDA is the ultimate signal for investors… It shows that there’s a regulatory path forward for this class of drugs, which typically causes a flood of investment in the area.” In fact, the first steps towards legalization of such products have already started, as Denver residents voted to decriminalize psilocybin, the psychoactive substance found in mushrooms.
The process of legalization for psychedelics started to gather steam very recently, but it already resembles the process the cannabis industry went through. Within the cannabis industry, it is the medical segment that held the leading revenue share of 71.0% in 2019, owing to the growing adoption of cannabis as a pharmaceutical product for treating severe medical conditions, such as cancer, arthritis, and Parkinson’s disease and Alzheimer’s disease among other neurological conditions. Moreover, the increasing need for pain management therapies along with a growing burden of chronic pain among elders is expected to boost the product demand. As a result, the global marijuana market is expected to grow from USD 42.20 Billion in 2017 to USD 466.81 Billion by 2025 while registering a CAGR of 35.3%, according to data compiled by Verified Market Intelligence.