Research and Development Moves the Psychedelics Market Forward
Nyenta.com/10115620

Trending...
NEW YORK, Jan. 27, 2021 /PRNewswire/ -- The ongoing surge of development and investment into psychedelic medicine and psychedelic-assisted therapy is the direct result of newfound public support and legitimacy for these revolutionary treatments. That legitimacy is being built on the back of a growing body of research showing the benefits of these treatments and the intense need for alternatives to legacy approaches to mental healthcare. The flood of research is continuing, most recently with an ongoing study on psychosubstances as a potential treatment for veterans with PTSD. As more data supports the legitimacy of these treatments, companies that are commercializing psychedelic medicines, like Mydecine Innovations Group Inc. (CSE: MYCO) (MYCOF), Numinus Wellness Inc. (NEO: NUMI) (TSXV: NUMI) (OTCPK: LKYSF), Tonix Pharmaceuticals (NASDAQ: TNXP), Hollister Biosciences Inc. (OTCPK: HSTRF), and Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF), are seeing increasing momentum.

Mydecine Innovations Group Moves the Psychedelics Space Forward

Mydecine Innovations Group Inc. (CSE: MYCO) (MYCOF) has been both a driver and a beneficiary of psychedelic medicine's many recent breakthroughs. As a leading company in the psychedelic biotech and life sciences space, Mydecine has had a large role on the research and development as well as the commercialization front.

Through the company's clinical trial branch, headed by Mydecine's Chief Medical Officer, Dr. Rakesh Jetly, the company has been working to develop safe and effective pharmaceutical and natural health products for people affected by PTSD. Last year, Mydecine partnered with the Leiden University Medical Center of The Netherlands and the ARQ National Psychotrauma Centre for a first-of-its-kind series of clinical trials examining psilocybin for the treatment of PTSD. Since that point, Mydecine has expanded its Phase 2A clinical trial globally to incorporate sites including University of Alberta, Royal Ottawa Hospital, and Western Ontario.  Mydecine has also signed on for a partnership agreement with Applied Pharmaceutical Innovation to advance its research and development efforts for mental health care solutions.

Mydecine is a leader in developing the business side of psychedelic medicine. On January 21, Mydecine announced that the company would be included as part of the first-ever psychedelics-focused Exchanged Traded Fund (ETF). The fund includes 17 pioneering companies in the US and Canada and began trading on Tuesday, January 26 under the ticker PSYK on the NEO exchange.

"While medicinal psychedelics are certainly not new, the legal market and the ability to invest in these cutting-edge companies certainly is new," Mydecine Co-Founder & CEO Joshua Bartch said in the company's release. "Together, with these 17 companies, Mydecine is helping to build an industry that is investing in and researching innovative solutions for treating previously untreatable mental illness."

More on Nyenta.com
Also in January, Mydecine Innovations Group announced that it has filed an application to list on the NASDAQ. This potential uplisting to the NASDAQ will expose Mydecine to an increased number of retail and institutional investors.

Pharmaceutical and Biotechnology Companies Work to Advance Psychedelic Therapeutics

Psychedelic-focused health solutions company Numinus Wellness Inc. (NEO: NUMI) (TSXV: NUMI) (OTC: LKYSF) announced in January that the company has acquired an Orbitrap Exploris 120 Mass Spectrometer for use in the continued development of psilocybe mushroom related projects. Numinus says that this state-of-the-art instrument will accelerate the company's psychedelic standardized testing, as well as its research and development.

Clinical-stage biopharmaceutical company Tonix Pharmaceuticals (NASDAQ: TNXP) is focused on discovering, licensing, acquiring, and developing small molecules and biologics to treat a wide range of conditions, including pain, neurologic, psychiatric, and addiction conditions. In 2020, Tonix outlined a new statistical method to analyze future PTSD drug studies. With so much of the research on psychedelic-assisted psychotherapy focusing on treatment of PTSD, Tonix Pharmaceuticals' statistical method could play a significant role.

Hollister Biosciences Inc. (OTC: HSTRF) announced last year that the company planned to acquire psychedelic-focused company Alphamind Brands. Alphamind has been developing several psilocybin-based products in addition to conducting research and development for psilocybin pharmaceutical applications.

Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF) announced in November that the company would be establishing a digital medicine division that will bring together a team of leading technologists, therapists, and clinical drug development experts to help the company with research and development of an integrated technical platform and comprehensive toolset for developing psychedelic medicines and experiential therapies combined with digital therapeutics.

Psychedelic medicines and therapies have the potential to not just be a huge market, but also a revolution in mental health care. Companies like Mydecine Innovations Group are making this revolution happen through research and development.

For more information on Mydecine Innovations Group, click here.

More on Nyenta.com
Disclaimer:  Microsmallcap.com (MSC) is the source of the Article and content set forth above. MSC owns and operates Streetsignals.com.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Mydecine Innovations Group Inc.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

Media Contact:
FN Media Group, LLC
[email protected]
+1(561)325-8757

SOURCE Microsmallcap.comstats
Filed Under: Business
Show All News | Report Violation

0 Comments

Latest on Nyenta.com