Mydecine Innovations Group Inc (OTC:MYCOF, NEO:MYCO) CEO Joshua Bartch speaks to Thomas Warner from Proactive London about the biotechnology company’s ambitious goals in the psychedelic medicine sector.
Bartch explains that Mydecine focuses on developing “second generation” drugs derived from first-generation psychedelic molecules like LSD, MDMA, and psilocybin. Their aim is to enhance the efficacy of these drugs while addressing challenges like half-life, scalability, cost, and accessibility.
He emphasises the company’s efforts to make these drugs more adaptable to the existing medical infrastructure, aiming to increase accessibility by five to tenfold. Highlighting the UK’s progressive stance on psychedelics, Bartch announced Mydecine’s recent listing on London’s Aquis Exchange, emphasising the potential benefits for both current and future shareholders.
The company is gearing up for phase one human trials of their lead drug candidates by early 2024, with their MYCO-006, a second-generation MDMA analogue, showing promising results in preclinical studies. Addressing perceptions of psychedelic medicine industry, Bartch notes a significant shift, saying that major biotech investors and institutions, once skeptical, are now showing keen interest.