• Mydecine just announced the successful synthesis of a novel psilocin analogue, a tryptamine
• The achievement adds to the company’s library of patent-pending tryptamines for medical use and therapy, and is seen as verifying the value of Mydecine’s AI-driven drug discovery program
• Mydecine has also confirmed its participation in the Wonderland: Miami psychedelic medicine event scheduled for November 8-9, 2021, where the company will share its recent research advancements and goals going forward

Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) just announced the successful synthesis of a novel psilocin analogue, a tryptamine, that has proven to have improved pharmaceutical properties (https://ibn.fm/I2lX7). The success of this study adds to Mydecine’s library of patent-pending tryptamines while also building upon the company’s strategy to enhance the safety and efficacy of its drug development candidates for both medical use and therapy.

Mydecine has been a biotechnology and digital tech pioneer, pushing boundaries with its AI-driven drug discovery program. The integration of AI technology, which is currently done in partnership with Applied Pharmaceutical Innovation (“API”) at the University of Alberta, has accelerated the company’s natural product research and novel drug design. This move has also allowed it to scale much faster than would have been possible had Mydecine opted for traditional research methods.

Dr. Khaled Barakat, the Principal Investigator at API and University of Alberta Associate Professor, noted, “Our AI technologies construct billions of new drug candidates and filter them for their ability to modulate the activity of the psychedelic-related targets. These AI models also predict the interactions and affinity of each drug candidate to the level of a single atom.”

“By considering the unique structural and dynamical fingerprint of each target, our AI-drug discovery program paves the road towards designing selective modulators, hence, reducing any potential side effects that may emerge in the future,” he added.

Mydecine’s addition of this compound has demonstrated the company’s ability to achieve proven principles of drug chemistry, time course of action, improved delivery, and compound stability. More importantly, the technology has helped with the effective production of an extensive base of preclinical, in vitro data which is integral to the company’s expansion of its drug pipeline.

While making the announcement, Rob Roscow, Mydecine’s Chief Scientific Officer (“CSO”), noted, “Our ability to rapidly uncover safer and more efficacious novel compounds, such as this psilocin analogue, is a true testament to the value and success of our AI-driven drug discovery program. As we progress forward, we see great value from this development as we can now leverage the achieved receptor binding data for serotonin receptor (5-HT2A) and expand our drug pipeline focusing on the agonistic activity of psilocin and other tryptamines at different ratios on serotonin receptors.”

Since it was founded in 2020, Mydecine has operated on the guiding principle that there is a significant unmet need and lack of innovations within the therapeutic and mental health environments. Through technology, the company hopes to remedy this situation. This recent milestone demonstrates what the company can do and the fact that there are potential psychedelic-based solutions for mental health and addiction.

Mydecine will share this and other achievements at this year’s Wonderland Miami event, scheduled for November 8-9, an event dubbed as the largest psychedelic medicine business event ever put together (https://ibn.fm/b1YEZ). The event will be held at the Adrienne Arsht Center for the Performing Arts in Miami, Florida, and Mydecine expects to share its technological advancements, recent discoveries, and goals. 

For more information about the event, please visit the event’s website at www.microdose.buzz/wonderland/miami 

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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