MYCOF - Mydecine Innovations Group Receives Notice of Allowance from USPTO for its MYCO-005 Compound | Benzinga
VANCOUVER, British Columbia, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Mydecine Innovations Group Inc. ("Mydecine" or the "Company") (CSE:MYCO) (AQSE:MYIG) (OTC:MYCOF) (FSE:0NFA), a forefront biotechnology company dedicated to revolutionising mental health and addiction treatment, proudly announces the Company has received the issuance of a Notice of Allowance by the United States Patent and Trademark Office (USPTO) for their MYCO-005 compound, "Novel Aza-Substituted Psilocin Analogs And Methods Of Synthesizing The Same Unique Compound (US20230348380A1)".
This Composition of Matter patent underscores Mydecine's commitment to innovation in mental health therapeutics. MYCO-005, a novel compound, that mimics psilocin as an improved version engineered to act therapeutically similar to psilocin while dramatically reducing highly undesirable side effects from long-term sustained use of psilocybin and almost all-known classical serotonin agonists (LSD, DMT, etc.), specifically addressing valvular fibrosis concerns recognised by leading clinicians and FDA regulators. MYCO-005 is designed with selective binding to 5-HT2A receptors and does not bind to 5-HT2B receptors for both macro and microdosing.
In 2020, Mydecine filed its provisional patent application encompassing multiple families of psilocin analogs, with MYCO-005 emerging as a second-generation breakthrough. This compound addresses stability and receptor binding concerns associated with first-generation compounds, introducing a novel psilocin analog with potentially heart-safe microdose-enabling properties, eliminating a known cardiovascular risk factor.
Microdosing, gaining recognition as a potential treatment for ADHD, depression, and anxiety, is often hindered by the cardiovascular risks associated with psilocybin. Chief Scientific Officer, Rob Roscow, highlighted the risks linked to the 5-HT2B receptor and heart valve tissue fibrosis.
"Mydecine's research on MYCO-005 demonstrates robust binding to the classic psychedelic 5-HT2A receptor while avoiding binding to the 5-HT2B receptor, suggesting an enhanced safety profile for microdosing," stated Roscow. This advancement positions MYCO-005 as a safer alternative for those suffering from anxiety or depression disorders.
Mydecine Innovations Group continues to lead the way in biotechnological advancements, dedicated to pioneering safer and more effective solutions for mental health and addiction disorders.
The Directors of Mydecine take responsibility for this announcement.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by ...