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Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) (FSE: ONFA) Announces Completion of Target-Based Model in Its AI-Driven Drug Discovery Program
January 10, 2022

Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) (FSE: ONFA) Announces Completion of Target-Based Model in Its AI-Driven Drug Discovery Program

  • The AI-driven drug discovery program uses not only artificial intelligence but also machine learning, which is a relatively new concept and is continuously expanding
  • The use of artificial intelligence in the drug development space may help eliminate or reduce the manual operations that a company typically must undergo to identify and make necessary improvements to drugs 
  • The new model will allow the company to rapidly screen billions of structures promoting near term patent filings for novel psychedelic molecules 
  • Mydecine has already been able to eliminate unsuccessful candidates early on with the use of this technology
  • Mydecine’s primary focus is the compound psilocybin, which interacts with serotonin receptors in the human body, creating a psychedelic effect
  • The company is currently working on four lead candidates which may be useful in the treatment of PTSD, smoking cessation, and substance abuse

A biotech and digital technology company aiming to transform the treatment of mental health and addiction disorders, Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: ONFA) announced that it has completed a target-based model of the classic psychedelic serotonin receptor 5-HT2A for use in its artificial intelligence (“AI”)-driven drug discovery program. Through this new model, the company will be able to expedite the screening of billions of structures to determine which of the novel compounds will increase binding affinity and enable the continued creation of improved second and third-generation psychedelic molecules for medicinal use.

By using artificial intelligence and machine learning (“ML”), the company has positioned itself to discover drug enhancements through more cost-effective means, and in turn, more effectively than the competition. The use of AI in the drug development space is relatively new, and the efforts are continuously expanding. The technology’s goal is to eliminate, or at least drastically reduce, the manual operations companies typically undergo to identify and make the necessary improvements to these drugs.

Through the AI-driven drug discovery program, Mydecine is eliminating those drug candidates that are likely to fail early on in the development process. Without the use of AI or ML, companies have hypothesized which structures are likely to bind to the receptor and then manually synthesize each molecule and test each one individually, determining the likelihood of a successful binding agent. Manual processes like this can take up enormous amounts of time and money, which is why the use of AI technology to quickly expedite the elimination process of candidates is not only valuable but promising.

“AI gives us an incredibly robust tool for screening potential novel psychedelic compounds. This screening gives us increased confidence in investing in the later stages of our drug development and enables rapid development in our pipeline,” Chief Science Officer Rob Roscow said, according to a company press release (https://ibn.fm/cSJAM). 

The primary focus of Mydecine has been the compound psilocybin. When ingested, psilocybin’s active metabolite psilocin interacts with the body’s serotonin receptor and triggers a psychedelic experience. It has been shown to trigger neuroplasticity, which is the brain’s way of reorganizing, a key feature in psychedelic-assisted-psychotherapies.

The 5-HT2A receptor model is only the tip of the iceberg for Mydecine’s planned modeling, which will help to continue enhancing the AI-driven drug discovery program. The company has also filed a recent patent application around MYCO-004, which directly addresses precision in delivery control and shelf stabilization through dermal administration. 

Mydecine uses molecules found in nature as the necessary building blocks to create improved second-generation drugs. The company’s portfolio of new drugs represents major improvements to existing natural and synthetic compounds, including enhancing safety, efficacy, stability, dosing, and reducing side effects. There are currently four leading drug candidates, which include enhancements such as improved controllability and delivery mechanisms, enhanced stability and safety, and longer shelf-life. Clinical and preclinical stage trials are currently being conducted with Mydecine’s portfolio as potential treatments for PTSD, smoking cessation, and substance abuse.

For more information, visit the company’s website at www.Mydecine.com.

NOTE TO INVESTORS: The latest news and updates relating to MYCOF are available in the company’s newsroom at https://ibn.fm/MYCOF

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