Biotech Companies Driving Psychedelics Industry Forward with Key Research - Seite 2

"Our first four novel drug candidates deliver on our long-term strategic road map for drug development with regular milestones that iteratively add value over time. By increasing the complexity of these compounds, we are increasing layers of patents applied, which in turn, also adds pharmaceutical value to the drug candidates," Mydecine Co-Founder and CEO Joshua Bartch said in the company's release. "The promise of these molecules is undeniable. By providing scalable, more stable compounds and delivery mechanisms for research and development, it means that new treatments for previously untreatable mental illnesses are close at hand."

On March 23, Mydecine announced that the company had graduated to the NEO Exchange. Bartch said in Mydecine's release that the move will increase transparency and visibility for the company as it pursues its research and development goals.

"Mydecine is paving the way for incredible breakthroughs and we are thrilled to support their success as the Company's listing exchange of choice," Jos Schmitt, President and CEO of NEO commented in Mydecine's release. "Psychedelic therapeutic treatments have the potential to offer life-altering relief to millions of people around the world who suffer from mental health and addiction issues. We look forward to providing Mydecine with enhanced visibility and greater access to capital on our tier-one exchange so they can continue the great work they are doing."

Biotech Companies Gear Up for Key Research

Across the industry, psychedelics-focused biotech companies are gearing up for research that could help shape the future of mental health treatment. On March 9, Numinus Wellness (TSXV:NUMI) (OTC:LKYSF) announced plans to significantly expand its psychedelics research laboratory by the end of the year.

Compass Pathways (NASDAQ:CMPS) announced on March 23 that the company had been granted two new patents by the US Patent and Trademark Office covering synthetic psilocybin formulations developed by Compass for treatment of major depressive disorder and treatment-resistant depression. The company says that these patents represent a critical milestone in its efforts to establish a new evidence-based option to help patients with depression and will aid the company's clinical research.