MYND Life Sciences Inc. (CSE: MYND) ("MYND") a drug research and development company focused on novel psychedelic drug development, diagnostic approaches and pharmaceuticals, is pleased to announce it has filed additional provisional patents that utilize various psilocybin analogs to target clinical depression.
Major Depressive Disorder ("MDD") is a common and severe illness that is estimated to affect approximately 264 million people globally. MYND has two flagship drugs in the development pipeline; MYND-604 and MYND-778. MYND-604 is the lead candidate being developed as a novel oral dosage to treat MDD and brings much needed innovation to the Selective Serotonin Reuptake Inhibitor ("SSRI") market.
Patent Filing Highlights:
The patent application targets regulation of inflammation and immune responses by modulating the Human Mycogene by turning a pro-inflammatory state into an anti-inflammatory state.
The patent application addresses methods of inhibiting neuroinflammation to potentially treat a wide variety of neuropsychiatric disorders, including but not limited to; Major Depressive Disorder, schizophrenia, anxiety, bipolar disorder, obsessive-compulsive disorder (OCD), and posttraumatic stress disorder (PTSD), among others.
The patent application strengthens MYND's IP Portfolio and establishes the foundation of the Company's novel drug development platform as it moves towards commercialization.
The patent covers a wide variety of molecules including psychedelics such as all analogs of psilocybin, LSD, mescaline and DMT.
"Traditional pharma has not taken an innovative approach to R&D as we have seen little innovation to SSRI's and other anti-depressants in over 30 years. MYND's drug discovery process utilizes specific psilocybin analogues that we believe have the ability to positively impact patients dealing with a variety of neuropsychiatric disorders," stated Dr. Lyle Oberg, CEO of MYND. "We have a tremendous opportunity to develop viable alternatives to the current suite of SSRIs for individuals living with depression," continued Dr. Oberg.
The MYND-604 provisional patent helps advance the Company's drug development pipeline. The Company anticipates the commencement of clinical trials in Q4 of 2021, or early 2022. "MYND continues to execute upon its multi-phase drug development strategy to create a novel drug discovery platform and research on the potential efficacy of psychedelic molecules to address unmet mental health needs; dosing control for enhanced drug delivery; and a potential novel diagnostic and treatment regiment," stated Dr. Wilfred Jefferies, MYND's Chief Science Officer.
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ABOUT MYND LIFE SCIENCES MYND Life Sciences is a psychedelic medicine biotech company focused on neuro-pharmaceutical drug development. The Company is advancing psychedelic derived medicines based on neuro-anti-inflammatory substances through rigorous science and clinical trials with an initial focus on Major Depressive Disorder.
Forward-Looking Information This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MYND to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.
SOURCE Mynd Life Sciences Inc.