With recent landmark progress in legalization efforts around the world, it’s clear we are in a psychedelic renaissance. In its wake has come a wave of innovation and the emergence of new-age pioneers in the space. Mydecine Innovations Group (CSE:MYCO) (OTC:MYCOF) (FSE:0NFA) is an example of a company that is far ahead of the curve. Based out of Denver, Mydecine has established itself as a leader in the emerging field of psychedelic-assisted treatments for mental health.
Earlier this week, Director and CEO Josh Bartch sat down with the Dales Report to discuss how the past 12 months have been monumental to both the psychedelics industry and Mydecine.
What Makes Mydecine Unique?
There are a few key differentiators that place Mydecine in a league of its own. Whether it’s their R&D or the actual production of drugs, the company has a rare combination of capabilities. Josh explains these in more detail, “One thing about Mydecine that’s incredibly unique is that we’re fully vertically integrated, So as it pertains to psychedelic assisted psychotherapy, we really have an A-Z capability.” This comprehensive pipeline gives Mydecine a unique advantage when it comes to clinical trials. With a full set of operations in-house Mydecine can rapidly innovate.
Evidently, Mydecine has taken full advantage of its integrated supply chain with a global clinical trial infrastructure with sites approved throughout Canada, Europe and the United States.
Despite Mydecine’s vast array of capabilities, the company’s mission can be broken down into a few defining elements. As Josh lays it out, “Mydecine Innovations Group really now has become a global company with really three main focuses: One is IP and R&D and our drug development pipeline is in that branch. Two is our clinical trial development and three is going to be our technology platform MindLeap.”
During the last few months, the clinical pipeline has been in full swing with Mydecine announcing an upcoming phase 2A trial which will center around exploring psilocybin-assisted therapy for the treatment of PTSD in veterans and emergency personnel. In a global display of research capability, the clinical trials will take place across 3 continents with the goal of establishing the safety and efficacy of psychedelic administered psychotherapy in a supervised setting.
On the technological side, Mydecine has been continuing development of the “Mindleap” platform which will allow them to administer psychotherapy protocols remotely. With a growing number of people avoiding in person health services at the moment, the mindleap platform is proving to be especially relevant. The company believes this key differentiator will strengthen the connection between patients and healthcare providers.
Josh explains in more detail, “So I think something that’s really important to remember is that this is psychedelic-assisted psychotherapy. Seven-tenths or eight-tenths of the equation are one-on-one psychotherapy meetings between psychotherapists and patients with no substances taken at all… So if we can aggregate with what we’ve been able to do with MindLeap, professionals that have been trained in the psychotherapy protocol under one roof and give patients access to be able to take the seven or eight-tenths of the equation, remotely, obvious vastly increases the scalability of the treatment.”
Mydecine encompasses the new era of medicine, making it a one stop shop for psychedelic treatment and innovation. To watch for in 2021: Mindleap recently announced a 2.0 coming to the platform to deliver ancillary services that are complementary to the psychotherapy. In the coming months, Mydecine has its sights set on uplisting to the NEO and Nasdaq exchanges.