VANCOUVER – MYND Life Sciences Inc. (CSE: MYND) a drug research and development company focused on novel psychedelic drug development, diagnostic approaches and pharmaceuticals, reported it has filed additional provisional patents that utilize various psilocybin analogs to target clinical depression.
Major Depressive Disorder is a common and severe illness that is estimated to affect approximately 264 million people globally. MYND has two flagship drugs in the development pipeline; MYND-604 and MYND-778. MYND-604 is the lead candidate being developed as a novel oral dosage to treat MDD and brings much-needed innovation to the Selective Serotonin Reuptake Inhibitor (“SSRI”) market.
“Traditional pharma has not taken an innovative approach to R&D as we have seen little innovation to SSRI’s and other anti-depressants in over 30 years. MYND’s drug discovery process utilizes specific psilocybin analogues that we believe have the ability to positively impact patients dealing with a variety of neuropsychiatric disorders,” stated Dr. Lyle Oberg, CEO of MYND. “We have a tremendous opportunity to develop viable alternatives to the current suite of SSRIs for individuals living with depression,” continued Dr. Oberg.
The MYND-604 provisional patent helps advance the Company’s drug development pipeline. The Company anticipates the commencement of clinical trials in Q4 of 2021, or early 2022.
“MYND continues to execute upon its multi-phase drug development strategy to create a novel drug discovery platform and research on the potential efficacy of psychedelic molecules to address unmet mental health needs; dosing control for enhanced drug delivery; and a potential novel diagnostic and treatment regiment,” stated Dr. Wilfred Jefferies, MYND’s Chief Science Officer.
MYND Life Sciences is a psychedelic medicine biotech company focused on neuro-pharmaceutical drug development. The Company is advancing psychedelic-derived medicines based on neuro-anti-inflammatory substances through rigorous science and clinical trials with an initial focus on Major Depressive Disorder.
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