Mydecine Innovations Group Launches AI-Assisted Drug Discovery Program

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June 16, 2021

Published at Yahoo!Finance

By Natan Ponieman

Mydecine Innovations Group (NEO: MYCO) (OTCPINK: MYCOF), a biotech company in the psychedelics space, announced on Wednesday the launch of a virtual drug discovery program that will use artificial intelligence and machine learning to inform its drug discovery process.

“The in-silico program will enable the company to more rapidly screen hundreds of thousands of new molecules without the need to produce them,” said the company in a press release.

The program will be run in partnership with the University of Alberta.

By simulating chemical compounds in a computer interface, researchers can allocate their physical resources for more complex research, while leaving the AI to virtually produce and select new molecules worth researching in the lab.

“As the next evolution of drug discovery progresses forward, we strongly believe that this new age will be fully led by artificial intelligence and machine learning,” said Mydecine CEO Josh Bartch.

The program will be led by Dr. Khaled Barakat, a computer-aided drug development expert and assistant professor of pharmacy and pharmaceutical sciences at the University of Alberta.