MYCOF - InvestorNewsBreaks - Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) Announces Financing to Provide Runway for Key Milestones
Mydecine Innovations (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA), a biotechnology and digital technology company aiming to transform the treatment of mental health and addiction disorders, today announced its entry into an agreement with an investor to complete a non-brokered private placement (the “financing”) of a convertible secured subordinated debenture in the principal amount of C$5.5 million. According to the update, the financing is expected to close on Dec. 10, 2021. “I would like to thank our incredible strategic shareholder for stepping up in a tough, volatile market and continuing to support and expand upon your large stake in Mydecine,” said the company’s CEO Josh Bartch. “This financing will give Mydecine the runway needed to continue meeting important milestones like launching our smoking cessation study in partnership with Johns Hopkins University and PTSD (Post Traumatic Stress Disorder) studies with various global military focused organizations, furthering our drug development initiatives and growing paid subscribers on our telehealth platform Mindleap.”
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About Mydecine Innovations Group
Mydecine Innovations is a biotechnology and digital technology company developing innovative first- and second-generation novel therapeutics for the treatment of mental health and addiction through world-class technology and drug-development infrastructure. Mydecine was founded in 2020 on the guiding principle that there is a significant unmet need and lack of innovation in the mental health and therapeutic treatment environments. Mydecine Innovations Group is dedicated to efficiently developing innovative therapeutics to treat PTSD, depression, anxiety, addiction and other mental health disorders. The company’s business model combines clinical trials and data outcome, technology, and scientific and regulatory expertise with a focus on psychedelic therapy underpinned by other novel molecules with differentiated therapeutic potential. By collaborating with some of the world’s foremost authorities connected by best practices, Mydecine Innovations Group aims to responsibly fast-track the development of new medicines across its platforms, seeking to effectively treat and ultimately change the way mental health disorders are treated. Mydecine's vision is to bridge the current gap between what the mental healthcare system currently provides with the needs of the patients. Mydecine is headquartered in Denver, Colorado, USA, with international offices in Leiden, Netherlands. For more information about the company, please visit www.Mydecine.com.
NOTE TO INVESTORS: The latest news and updates relating to MYCOF are available in the company’s newsroom at http://ibn.fm/MYCOF
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