FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Mydecine Innovations Group to Acquire NeuroPharm Inc..”
Mydecine Innovations Group Inc. (OTC: NLBIF) (CSE: MYCO), is pleased to announce it has signed a non-binding Letter of Intent (“LOI”) dated June 9, 2020 to acquire NeuroPharm Inc., (“NeuroPharm”) a Canadian-based healthcare company working to deploy the power of nature’s medicine for the wellness of veterans, EMS and front line personnel in North America and globally (the “Acquisition”).
Mydecine Innovations Group 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 Innovations Group Inc. further enhances its portfolio with numerous cultivation properties, retail locations, and other land assets.
Depression and PTSD are serious psychiatric disorders which happen to share some similar symptoms. Either disorder might cause trouble sleeping, anger over little things, or a loss of interest in people or things. Sometimes, having both conditions is possible. As such, scientists are constantly working on how to better understand the intricacies of psychiatric disorders and on possible treatments as well. In recent years, views on psychedelic therapy have started to change. 2016 had been, in particular, a breakthrough year for psychedelic therapy. First, a study from the Beckley Foundation, in partnership with Imperial College London, found that all 12 patients showed some reduction in depression severity at 1 week that was sustained in the majority for 3 months, and according to standard criteria for determining remission (eg, a score of ≤9 on the BDI), eight (67%) of the 12 patients achieved complete remission at 1 week. Later that year, two U.S. university studies jointly published their findings of psilocybin effects on 51 cancer patients with life-threatening diagnoses and symptoms of depression and/or anxiety. According to the results, about 80% of participants continued to show clinically significant decreases in depressed mood and anxiety.
Now, years later, new data continues to indicate that psychedelics could be used for legitimate medical purposes. In particular, this may also indicate that some legalization efforts will start to gain popularity as well. For example, back in 2019, Denver voters approved some of the nation’s first legal protections for psychedelic mushroom users, according to the Denver Post. Just like with cannabis and CBD products, legalization efforts will be spread to both the national and local levels. Over the past several years, the cannabis industry has achieved historic milestones and fully redefined itself, and it is large part thanks to various legislative victories in some of the largest states in the country, including California. Now, medical cannabis products are used for the treatment of various chronic conditions such as cancer, arthritis, and neurological conditions such as anxiety, depression, epilepsy, as well as Parkinson’s and Alzheimer’s disease. Such a wide scope of applications is also anticipated to further expand the target demographic of the market.