Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF)
- Dr. Matthew Johnson discussed psilocybin for tobacco smoking cessation at this year’s Psychedelic Medicine Business Event: Wonderland, in Miami
- He shared preliminary findings from his recent study on substance use disorder, along with the participants’ feedback on their experience
- Dr. Johnson, along with Mydecine, are set to embark on their clinical study utilizing MYCO-001 for smoking cessation, set to commence in early 2022, building on the success of this recent study
- Mydecine is also set to support Dr. Johnson’s concurrent NIDA grant-funded study through the provision of MYCO-001 for research
, back in September 2021, announced its seamless phase 2/3 smoking cessation clinical trial that will launch in early 2022. The study, which will be led by Johns Hopkins University’s (“JHU”) Dr. Matthew Johnson, will evaluate the administration of MYCO-001, a 99% pure version of psilocybin, with a structured smoking cessation treatment program in nicotine-dependent individuals (https://ibn.fm/cKxuV
This study builds on similar research initiated by JKU back in 2014, under the leadership of Dr. Johnson, a world-renowned psychedelic drug researcher. This preliminary study showed that 80% of the subjects achieved abstinence at six months following 2-4 oral doses of psilocybin, coupled with extensive cognitive behavioral therapy (“CBT”). It also builds on an ongoing 100-subject randomized trial for which Dr. Johnson presented the interim results at this year’s Psychedelic Medicine Business Event: Wonderland in Miami.
Scheduled for November 8-9, 2021, this event was deemed the largest psychedelic medicine business event ever. It covered various topics surrounding the psychedelics industry, including the path to federal acceptance, AI-driven psychedelic drug discovery, precision medicine and psychedelics, and the future of psychedelics. In addition, Dr. Johnson covered psilocybin for tobacco smoking cessation, mainly covering the findings from his research thus far (https://ibn.fm/R950g
Dr. Johnson’s study involved 100 patients considered treatment-resistant smokers and span across 12 months. These participants were randomized to psilocybin or the nicotine patch, each receiving the same cognitive-behavioral therapy. However, the study involved only one psilocybin session.
Dr. Johnson noted that after 12 months, 59% of the patients who received the psilocybin treatment remained abstinent, while only 28% of those who received the nicotine patch remained abstinent. This positive data played an integral role in ROTH Capital’s report published on November 16th reiterating Mydecine’s Buy rating and C$3/share 12-month price target following the release of their 3Q21 results.
The participants in the study appreciated Dr. Johnson’s work, citing psilocybin’s benefits and how life-changing the entire experience was.
“Primarily, I would say it made me understand that my identity is this construct,” one noted.
“Seeing that which happened during the psilocybin experiences and being reminded of, and understanding, life as an unspeakably marvelous adventure of existence,” reckoned another.
Dr. Johnson is currently leading another separate study, funded by the National Institute on Drug Abuse (“NIDA”). This marks the first time in over 50 years that the United States government has funded a study of a psychedelic compound for therapeutics. Mydecine will supply MYCO-001 for this study and is excited to be part of Dr. Johnson’s research.
“We are excited to support Dr. Johnson and his team in this concurrently running study, which we believe will add a significant benefit to support our 2/3 seamless design. We have made significant progress advancing our MYCO-001 clinical trials for smoking cessation to date with JHU,” noted Josh Bartch, the Chief executive Officer (“CEO”) of Mydecine.
“The opportunity to play an integral role in this landmark study by supplying our lead drug candidate, not only offers a significant opportunity to further advance our drug development through safer and more viable results, but demonstrates Mydecine’s leadership position in the emerging psychedelic-assisted psychotherapy industry,” he added (https://ibn.fm/GKO9v
Mydecine has expressed its optimism for the phase 2/3 trial, along with future studies on psilocybin to treat other indications in mental health and addiction, focusing on two main indications- smoking cessation and post-traumatic stress disorder (“PTSD”). The company is confident that the results from these studies will help patients dealing with such conditions and support its overall mission going forward, ultimately making MYCO-001 possibly the first psilocybin therapy to be approved for any indication.
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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