Here’s what’s being said
The company’s patent-pending permeation enhanced prodrug provides more control over the drug while also possibly eliminating undesirable properties like nausea by bypassing the digestive system.
Mydecine Innovations Group Inc (OTC:MYCOF, NEO:MYCO) announced that it has filed a full patent application covering multiple families of psilocin analogs.
The Denver-based biotech company said that the application includes solutions to directly address further precision in delivery control and shelf stabilization of psilocin, psilocybin’s active metabolite, both of which are critical for use in medical settings.
When psilocybin is administered orally, there is wide variability in onset time for each patient, making it more difficult to standardize protocols and scale treatments, the company said.
Mydecine’s dermal route for the administration of psilocin directly addresses such controllability concerns. The company’s patent-pending permeation enhanced prodrug provides more control over the drug while also possibly eliminating undesirable properties like nausea by bypassing the digestive system.
“The goal of creating these improved second-generation compounds is to enable safer, more effective treatments for patients along with improved management of dosage and drug behavior for clinicians,” said chief science officer, Rob Roscow. “We believe these improvements are necessary for psychedelic medicines to become an accepted and adopted form of treatment.”
Another concern about naturally produced psilocybin is its poor shelf stability. Mydecine’s recent filing includes a family of stabilized psilocin analogs, moving the company closer to a drug that will meet regulatory requirements and address concerns for medical use; specifically providing access to a psilocin source with reliable potency, the company said in a release.
Mydecine also announced the appointment of Saeid Babaei to its board of directors.
The company said that Babaei brings tremendous business foresight having closed over 25 licensing and strategic alliance transactions, as well as raising over $50 million in equity and debt financing.
Babaei’s track record includes over 20 years of academic and corporate experience, during which he has led a number of novel and first-in-class product opportunities to either commercialization or to late-stage development.
“We are pleased to welcome Dr. Babaei to the team as he brings decades of experience in biotechnology development, award-winning discoveries in gene therapy, and licensing and strategic advancements for the companies he has founded and accelerated,” said Josh Bartch, CEO of Mydecine. “As Mydecine continues to move our lead candidates down the pipeline, Dr. Babaei will play an integral role in advancing our novel psychedelic-based therapeutic candidates as well as meeting NASDAQ listing requirements.”