REG-Mydecine Innovations Group Inc: Mydecine Innovations Group Receives Two Notice of Allowances from USPTO for its MYCO-005 and MYCO-006 Family of Compounds

Mydecine InnovationsAnnouncement

08/02/2024 07:15

 


 

Mydecine Innovations Group Receives Two Notice of Allowances from USPTO for
its MYCO-005 and MYCO-006 Family of Compounds

 

VANCOUVER, British Columbia, 08 February 2024 (GLOBE NEWSWIRE) - Mydecine
Innovations Group Inc. ("Mydecine" or the "Company") (CSE:MYCO) (AQSE:MYIG)
(OTC:MYCOF) (FSE:0NFA), a leading biotechnology company dedicated to
transforming mental health and addiction treatment, proudly announces the
issuance of two Notice of Allowances by the United States Patent and Trademark
Office (USPTO) for compounds from the Company's MYCO-005 and MYCO-006
families.

 

MYCO-005 Notice of Allowance: Aza-Substituted Psilocin Analogs and Methods of
Synthesising the Same Unique Compound

 

Mydecine received its second Notice of Allowance from the USPTO, on one of its
novel compounds for Composition of Matter that is currently under development.
The molecule is from the MYCO-005 family of psilocin analogs, and it is the
second in this family to receive a Notice of Allowance. Additional molecules
in this family are still under review at the USPTO. This Notice of Allowance
continues to solidify Mydecine's intellectual property portfolio protection.
The compound has been under development since 2020 and the Company is happy
with the further acknowledgment of the novelty of its compounds.

 

MYCO-006 Notice of Allowance: Advancements in MDMA Analog Development

 

Mydecine received Notice of Allowance from the USPTO, on one of its novel
compounds under development. The molecule is from the MYCO-006 family of MDMA
analogs. Additional molecules in this family are still under review at the
USPTO. This Notice of Allowance continues to solidify Mydecine's intellectual
property portfolio protection. The compound has been under development since
2021 and the Company is pleased with the further acknowledgment of the novelty
of its compounds.

 

This is the third Notice of Allowance covering the Composition of Matter for
Mydecine's second-generation psychedelic compounds from the USPTO, the Company
expects numerous further patent grants in the near term.  In addition, the
Company has filed in several international jurisdictions for each covered
compound.

 

The Directors of Mydecine take responsibility for this announcement.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

Learn more at https://www.mydecine.com.

 

For more information, please contact:

 

Media Contact

pr@mydecineinc.com

 

Investor Relations

investorrelations@mydecineinc.com

 

On behalf of the Board of Directors

 

Joshua Bartch, Chief Executive Officer contact@mydecineinc.com

 

AQSE Corporate Advisor

Novum Securities Limited  Tel: +44 (0)207 399 9400

David Coffman/ George Duxberry

 

For further information about Mydecine Innovations Group, Inc., please visit
the Company's profile on SEDAR+ at www.sedarplus.com or the Company's website
at www.mydecine.com.

 

About Mydecine Innovations Group

 

Mydecine Innovations Group is a publicly traded, pre-revenue biopharmaceutical
company that began operations in North America and Europe in early 2020.
Mydecine was founded to increase physicians' access to serotonin-modulating
medicine. Recent research has demonstrated the therapeutic potential of
psychedelic substances such as psilocybin and MDMA for treating intractable
conditions such as pain, anxiety, depression, addiction, and PTSD, along with
neurodegenerative disorders. Mydecine believes these compounds can be safer,
more effective, and more accessible for patients and medical professionals
through modern drug chemistry paired with artificial intelligence (AI).
Through its exclusive partnership with Applied Pharmaceutical Innovation based
at the University of Alberta, Mydecine is developing innovative medications
for target indications with high mortality rates that have lacked innovation
for decades and are controlled by dominant corporations. Mydecine developed
several prodrug families, beginning with a psilocybin-derived smoking
cessation drug undergoing a NIDA-funded trial at Johns Hopkins University.
Mydecine is also developing MYCO-006-short-acting chemical analogs derived
from MDMA for treating various conditions, including anxiety and pain.
Mydecine utilizes cutting-edge artificial intelligence (AI) and pharma
research infrastructure at the University of Alberta to develop and
manufacture new medications to make them affordable and accessible to the
general public upon Health Canada and FDA approval. The Mydecine team is
enthusiastic about its mission and is dedicated to creating a positive
difference in the lives of others.

 

Forward Looking Statement

 

This press release contains forward-looking statements that involve risks and
uncertainties, including statements regarding the potential benefits and
safety of MYCO-005 and MYCO-006. Actual results could differ materially from
those anticipated in these forward-looking statements due to various factors.
Mydecine disclaims any obligation to update these forward-looking statements.
All R&D is conducted at Applied Pharmaceutical Innovation, a not-for-profit
via the University of Alberta.

 

This news release contains forward-looking information about Canadian
securities laws regarding the Company and its business. It relates to future
events or performance and reflects management's expectations and assumptions.
Often but not always, forward-looking information can be identified by the use
of words such as "expect," "intends," "anticipated," "believes," or variations
(including negative variations) of such words and phrases or by stating that
specific actions, events, or results "may," "could," "would," or "will" be
taken, occur, or be achieved. Such forward-looking statements reflect
management's beliefs and are based on assumptions and information currently
available to the Company. Readers are cautioned that these forward-looking
statements are neither promises nor guarantees and are subject to risks and
uncertainties that may cause future results to differ materially from those
expected, including, without limitation, risks regarding the COVID-19
pandemic, the availability and continuity of financing, the ability of the
Company to protect and enforce its intellectual property adequately, the
Company's ability to bring its products to commercial production, the
continued growth of the global adaptive pathway medicine, natural health
products, and digital health industries, and the risks presented by the highly
regulated and competitive market concerning the development, production, sale,
and use of the Company's products. Although the Company has attempted to
identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, other factors
may cause effects not to be as anticipated, estimated, or intended. There can
be no assurance that such information will be accurate, as actual results and
future events could differ materially from those anticipated. These
forward-looking statements are made as of the date hereof. The Company is not
obligated to update or revise them to reflect new events or circumstances as
required under applicable securities legislation.

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