Mydecine Innovations Group Inc (OTC:MYCOF, NEO:MYCO) said that it has successfully synthesized a novel psilocin analogue with improved pharmaceutical properties to further expand its library of patent-pending tryptamines.
The Denver, Colorado-based emerging biotech and life sciences company said the synthesis of the novel psilocin analogue, a tryptamine, is the newest compound to be added to its growing library of patent-pending compounds.
The inclusion supports and builds on its strategy to improve the safety and efficacy of its drug development candidates for use in therapy and medical practice, it added. With the addition of the compound, it said it has further demonstrated its ability to achieve proven principles of drug chemistry, improved delivery, the time course of action, and compound stability.
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“Our ability to rapidly uncover safer and more efficacious novel compounds, such as this psilocin analogue, is a true testament to the value and success of our AI-driven drug discovery program, bringing us closer to introducing the next-generation of psychedelic-based therapeutics to the market,” Mydecine’s chief scientific officer Rob Roscow said in a statement.
“Utilizing this advanced technology, we have effectively produced an extensive base of preclinical, in vitro data that supports and expands our named drug pipeline.
"As we progress forward, we see great value from this development as we can now leverage the achieved receptor binding data for serotonin receptor (5-HT2A) and expand our drug pipeline focusing on the agonistic activity of psilocin and other tryptamines at different ratios on serotonin receptors.”
Mydecine’s AI-driven drug discovery program is part of a joint research venture between the company and Applied Pharmaceutical Innovation (API) at the University of Alberta.
Since partnering with API in February 2021 and integrating its advanced AI technology, the company said it has accelerated its natural product research and novel drug design, allowing them to scale faster than would be achievable with traditional research methods.
“Our AI technologies construct billions of new drug candidates and filter them for their ability to modulate the activity of the psychedelic-related targets,” added Dr. Khaled Barakat, principal investigator at API and University of Alberta associate professor.
“These AI models also predict the interactions and affinity of each drug candidate to the level of a single atom. By considering the unique structural and dynamical fingerprint of each target, our AI-drug discovery program paves the road towards designing selective modulators, hence, reducing any potential side effects that may emerge in the future."
Mydecine Innovations Group is dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality.
The company operates out of a state-of-the-art mycology lab in Denver to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms, and has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import and export, cultivate, extract and isolate, and analyze active mushroom compounds with full government approval through Health Canada.
Contact the author at stephen.gunnion@proactiveinvestors.com