Psychedelics

MYDECINE INNOVATIONS GROUP, INC., (CSE: MYCO) (OTC: MYCOF) (FSE: 0NFA) ("Mydecine" or the "Company") is pleased to announce the appointment of UK-based Boustead Capital Markets LLP ("Boustead") to commence the dual listing process on the London Stock Exchange ("LSE" or the "Exchange") for the admission of the Company's common shares to the Standard Segment of the Official List's Main Market.

Among the factors considered by the Company in pursuing the dual listing, Mydecine™ noted that the LSE currently has a limited number of sizable psychedelics-focused biotech companies. Mydecine, as a contributing member to Drug Science UK, the only completely independent, science-led drugs charity, believes the LSE listing will provide UK and European investors with greater, more local exposure to a new high-quality investment choice of a business type not currently available on the Exchange.

Highlights

Mydecine's appointment of Boustead enables it to commence the LSE listing process and act on its intention for the Company's common shares to trade on the Main Market in the next few months. In addition to its current listings in Canada, the United States, and Germany, the Company believes that a listing on the LSE makes it well-positioned to bring European investors into the Company's share register.

The LSE listing is expected to provide all investors access and exposure to:

  • European Investor base in what the Company believes are Psychedelic-friendly countries such as the Netherlands, United Kingdom, Austria, and Portugal, to name a few
  • Support early and late-phase clinical trials
  • Expansion of the Company's telehealth platform; Mindleap Health
  • Further development of extensive IP portfolio
  • Furthering the development of novel types of psilocybin-based medicine and unique formulations

Josh Bartch, CEO & Chairman of Mydecine Innovations Group, commented, "The Board of Directors has met a number of times deciding the best route and venue for the new listing of the Company's securities, adding to our focus on shareholder value. We decided the LSE represented the best stock exchange for our investors, shareholders, and the ongoing growth of the Company. Additionally, it provides a great platform to measurably advance our investor reach within the European investor community. A LSE Listing offers a number of opportunities to fast-track further potential listings to exchanges such as NASDAQ or NYSE. Mydecine Innovations Group has a global reach through the Company's various planned clinical trials, research facilities, partners and scientific advisors, some of which are located directly in the UK."

About the London Stock Exchange
The London Stock Exchange was founded in 1571 during the reign of Elizabeth I in London, England. The LSE is the 4th largest exchange in the world (based on total market value of its listed companies) and is currently ranked 7th in overall liquidity. As of August 2020, the companies listed on the London Stock Exchange have a combined market capitalisation of ~$4 trillion USD (GBP ~£3,084,232,000,000). Its current premises are situated in Paternoster Square close to St Paul's Cathedral. It is part of publicly traded London Stock Exchange Group (LSEG).

About Boustead & Company Limited
Boustead & Company Limited is a diversified and comprehensive non-bank financial institution with offices in Los Angeles, New York, San Francisco, London, and Beijing that is rapidly expanding in growth markets throughout the US and Asia. Through its principals and fully licensed subsidiaries, Boustead & Company possesses rich experience and exceptional capabilities in capital markets deal execution and provides best-in-class one-stop financial services to clients. Boustead's comprehensive financial services platform consists of four operating units: Boustead Securities, LLC a US-based FINRA Broker/Dealer and middle-market investment bank; Sutter Securities Group, Inc., which owns four FINRA-regulated entities: Sutter Securities, Inc., Sutter Securities Clearing, LLC and FlashFunders Funding Portal, LLC, along with Sutter Securities Financial Services, Inc., Sutter Capital Partners, LLC a California Registered Investment Advisor; and Boustead Capital Markets LLP, regulated as an appointed representative in the UK. For more information, please visit www.bousteadco.com .
On behalf of Boustead & Company
Limited

Dan McClory, CEO
dan@boustead1828.com

About Boustead Capital Markets, LLP
Boustead Capital Markets, LLP, based in London, advises on a wide array of corporate finance assignments across many industries, and is an appointed representative of Thornbridge Investment Management LLP which is authorised and regulated by the FCA. Boustead Capital Markets is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution.
On behalf of Boustead Capital Markets,
LLP

David Peerless, Director
david@boust ead1828.com

About Mydecine Innovations Group Inc.
Mydecine Innovations Group™ (CSE: MYCO) is a publicly traded life sciences syndicate, with offices in Denver, CO, USA and Vancouver, BC, Canada. Mydecine is dedicated to the development and production of adaptive pathway medicine and natural health products all stemming from mushrooms. Mydecine's experienced multi-talented team has the dynamic capabilities to oversee all areas of Schedule I drug development, including but not limited to synthesis, genetic research, delivery mechanism design, clinical trial execution; through to worldwide product commercialization, marketing and spore-to-sale distribution of cGMP psilocybin API's and non-psychedelic medicinal fungi. By leveraging strategic partnerships with global scientific, medical, clinical, and Veteran organizations; Mydecine is well positioned at the forefront of naturally derived medicine, alternative therapeutics, and fungtional™ mushroom vitality consumer goods. Our portfolio of unified companies, including Mydecine Health Sciences™, Mindleap Health™, and NeuroPharm™ focus together on providing innovative and effective solutions that can help millions of people live a healthier quality life.

For further information about Mydecine Innovations Group, Inc., please visit the Company's profile on SEDAR at www.sedar.com or visit the Company's website at www.mydecine.com .

On behalf of the Board of
Directors:

Joshua Bartch, Chief Executive Officer
contact@mydecineinc.com

Corp Communication:
Charles Lee, Investor Relations
corp@mydecineinc.com

Public Relations:
Cynthia Salarizadeh, Public Relations
pr@mydecineinc.com

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company's ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company's products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.


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Phase III Trial to Cost approximately CA$3.75 million with Awakn's contribution expected to be approximately CA$1.25 million, Marks First Psychedelic Phase III Trial Ever to Receive Government Funding

Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) ('Awakn'), a revenue-generating biotechnology company researching, developing, and commercializing therapeutics to treat addiction with a near-term focus on Alcohol Use Disorder (AUD), announced today that the National Institute for Health and Care Research (NIHR), a UK government agency, has approved grant funding for 66% of the costs of Awakn's Phase III clinical trial exploring the use of ketamine-assisted therapy for the treatment of AUD. The trial is currently forecast to cost approximately CA$3.75 million in total, with Awakn funding approximately CA$1.25 million of that.

The funding will support Awakn's lead clinical development program, Project Kestrel, which aims to deliver clear Intellectual Property (IP) and marketing authorization/regulatory approval for ketamine-assisted therapy to treat AUD in the UK and the US.

The Phase III trial is expected be the largest ketamine-assisted therapy clinical trial to date and the only Phase III psychedelic clinical trial to receive government funding. Awakn will partner with the University of Exeter (UoE) and the UK's National Health Service (NHS) to deliver the landmark trial. It is planned to be conducted across seven sites in the UK, with the treatment being administered within the NHS infrastructure. The trial is currently designed to include 280 patients and they will be followed up over the course of six to 12 months. The trial will also pilot bespoke ongoing peer support groups post-treatment.

The trial, which is targeted to be a pivotal trial, follows on from the ground-breaking results of Awakn's Phase II a/b trial announced in January 2022, which resulted in AUD participants experiencing on average 86% abstinence at six-months post treatment versus 2% pre-trial. The Phase III trial will focus on establishing further definitive evidence of the efficacy of ketamine-assisted therapy for the treatment of AUD and to move towards the novel treatment being licensed for this indication. Awakn, UoE and the NHS will be working with the UK Department of Health and Social Care and other key stakeholders throughout the trial to facilitate the swift uptake within the NHS post trial, should the results be positive.

The Phase III trial will be led by Professor Celia Morgan, Awakn's Head of Ketamine-Assisted Therapy and Professor of Psychopharmacology at the University of Exeter.

Professor Morgan commented: "It is a true honour to lead the team that will deliver this research. The trial represents a huge leap forward in the treatment of AUD. I know this will be a great source of hope for the patients we work with, their families and friends. The financial commitment by the UK Government emphasises the promise of this treatment and the scientific rigour behind the trial. This, coupled with running the trial in the NHS settings and working closely with regulators throughout, means that the probability of quick adoption is very high, should the results of this trial fulfil their early promise."

Awakn selected AUD as its lead indication because it is a chronic disease constrained by a significant treatment gap, and a poor current standard of care. AUD affects 400 million[1] people globally; with only 8% of people with this disease seeking treatment[2], and typically a 75% relapse rate within 12 months among those who have[3]. Despite this significant treatment gap and poor efficacy, the US AUD treatment market is valued at CA$45 billion[4], while the NHS in the UK spends more than CA$5.5 billion a year[5] on AUD related illness.

Anthony Tennyson, Awakn's CEO commented:"We are pleased with today's news for several reasons. A government showing such strong support for this new type of treatment is a global first. Secondly, working with the NHS to deliver the treatment in their existing infrastructure is a huge statement of intent, but most importantly, for so many millions of people around the world suffering from alcohol addiction, a new treatment hope has just got one big 'step' closer. I could not be prouder of the Awakn team and our partners for making this a reality."

About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a revenue-generating biotechnology company researching, developing, and commercializing therapeutics to treat substance and behavioral addictions. Awakn has a near-term focus on Alcohol Use Disorder (AUD), a condition affecting 400m people globally for which the current standard of care is inadequate. Our goal is to provide effective therapeutics to addiction sufferers in desperate need and our strategy is focused on commercializing our R&D pipeline across multiple channels.

www.AwaknLifeSciences.com | Twitter | LinkedIn | Facebook | www.AwaknClinics.com

About Project Kestrel

Project Kestrel is the lead clinical development program of Awakn Life Sciences. Project Kestrel is supported by Awakn's Phase II a/b 'KARE' clinical trial which examined ketamine-assisted therapy for the treatment of Alcohol Use Disorder (AUD). The trial resulted in patients experiencing on average 86% abstinence at 6 months post treatment versus 2% before the trial which means that study participants went from being sober on average 7 days a year to being sober on average 314 days a year. Awakn is planning to initiate a Phase III trial in the UK in 2022 and plans to seek regulatory approval in the UK and the US in due course.

Notice Regarding Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, including statements relating the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, but are not limited to:COVID-19; fluctuations in general macroeconomic conditions; the business plans and strategies of the Company; the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; fluctuations in securities markets; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; expectations regarding the size of the addiction market; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company's and Awakn's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Investor Enquiries:
Anthony Tennyson, CEO, Awakn Life Sciences
anthony.tennyson@awaknlifesciences.com

Media Enquiries:
America and Canada: KCSA Strategic Communications
Anne Donohoe
Adonohoe@KCSA.com

Rest of World: Eat More Fruit Communications
Paul Jarman / Nora Popova
awakn@eatmorefruit.com

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