Mydecine Innovations Group Inc has reported positive pre-clinical data for its drug MYCO-003 as a treatment for anxiety and post-traumatic stress disorder (PTSD) and updated on the candidate's patent progress.
MYCO-003 combines a serotonin agonist with a serotonin releasing agent and data shows its potential to reduce patient anxiety compared to pure psilocybin, when used in therapy or medical practice.
Colorado-headquartered Mydecine also said it had now filed its final patent application for the drug with the United States Patent and Trademark Office (USPTO) and the World Intellectual Property Organization (WIPO).
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"Current psilocybin-based treatments can overcome the risk of extreme anxiety reactions with supportive care. With our enhanced MYCO-003, this promising candidate has the potential to reduce anxiety during therapy before needing to provide extensive supportive care," said Rob Roscow, chief science officer at Mydecine in a statement.
"Therefore, we believe that MYCO-003 would have a greater appeal to patients suffering from extreme anxiety and PTSD driving a more effective and immediate treatment result for patients in need."
Mydecine Innovations is developing innovative therapeutics to treat PTSD, depression, anxiety, addiction, and other mental health disorders.
Josh Bartch, CEO, added: "As we advance our product portfolio, Mydecine continues to add layers of efficacy and safety to the already established medical value of our proprietary drug candidates currently in the pipeline. We believe the continued development of MYCO-003 can play a significant role in delivering a more effective treatment for PTSD and anxiety."
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