Published at proactiveinvestors.com
By Angela Harmantas
Mydecine will work with the team at Johns Hopkins, led by Dr Matthew Johnson and the Behavioural Pharmacology Research Unit
The five-year agreement will see Denver-based Mydecine working with the team at Johns Hopkins, led by Dr Matthew Johnson and the Behavioural Pharmacology Research Unit.
In a statement, Mydecine told shareholders that the team has “extensive” experience working on clinical research related to the therapeutic use of psychedelics.
“We are excited to expand on the current work we are conducting with Dr Matt Johnson and his team at JHU in regards to smoking cessation to include numerous other projects over the next five years,” Mydecine CEO Josh Bartach said. “The researchers at JHU have proven their incredible depth of knowledge in the field.”
Mydecine’s chief scientific officer Rob Roscow hailed the long-term potential of the research agreement, saying it “demonstrates our commitment to advancing psychedelic medicine by exploring multiple molecules and medicines for a variety of indications.”
Much of Mydecine’s current research looks into how psychedelics can help people to stop smoking. The company’s chief medical officer Dr Rakesh Jetly cited CDC statistics showing that cigarette smoking is the leading cause of preventable disease and death in the US, killing more than 480,000 Americans each year.
“Despite all the public education and dire warnings, cigarette smoking remains one of the most difficult addiction to treat and contributes to more deaths than all the other substances combined, making research like this vital,” Jetly told investors.
Mydecine is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The firm operates out of a state-of-the-art mycology lab in Denver to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms, and has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import and export, cultivate, extract and isolate, and analyze active mushroom compounds with full government approval through Health Canada.