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NEO Bio Stock Files Final PTSD Therapy Patent Application, Reports Positive Preclinical Data

Stockhouse Editorial
8 Comments| September 22, 2021

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Click to enlargeMydecine Innovations Group (NEO: MYCO) stock was up more than 4% on Wednesday, after the biopharmaceutical company announced that it had filed its final patent application with the United States Patent and Trademark Office and the World Intellectual Property Organization for one of its lead drug candidates, MYCO-003, which is being developed to offer enhanced treatment of anxiety and post-traumatic stress disorder (PTSD).

The company also reported positive preclinical data supporting the continued development of MYCO-003. This patent pending formulation has the potential to further reduce patient anxiety as compared to pure psilocybin, when used in therapy or medical practice.

Via a news release, Rob Roscow, Chief Science Officer said that the 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. 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.”

Josh Bartch, CEO of Mydecine added that this is another progression in the execution of the company’s drug development pipeline, which he pointed to as evidence of the efficacy of the company’s psychedelic-assisted therapeutics and the wide array of therapeutic applications it can target.

“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.”

The clinical-stage biopharma company made news recently when it partnered with principal investigator Dr. Matthew Johnson of Johns Hopkins University on a study evaluating the administration of MYCO-001 with a structured smoking cessation treatment program in nicotine dependent individuals.



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