The public Mental Health crisis has become an urgent issue that has forced research institutes and governments to seriously examine it. The unconventional mental health solutions, showing huge potential and psychedelic-assisted therapies. Biotech companies have seen the opportunity and companies are diving into further research to seek out Mental Health solutions for conditions like PTSD, suicidal ideation, and depression.
Companies like Compass Pathways, Minerco Inc., Seelos Therapeutics, Mydecine Innovations Group, and Numinus Wellness are looking into opportunities in natural medicine initiatives to improve the quality of life among individuals struggling with Mental Health disorders. Biotech and life science companies have become the driving force behind psychedelic research. Mydecine Innovations Group has become the leader of the space.
On 7th April, Mydecine announced they have developed four lead novel drug candidates. The company is also currently preparing for Pre-Investigational New Drug meetings with the FDA and Health Canada.
Co-founder and CEO of Mydecine, Joshua Bartch, said, “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.”