Mydecine signs a letter of intent with Maya to co-develop a novel
DENVER, December 22, 2021 (GLOBE NEWSWIRE) – Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NF.F) (“Mydecine” or the “Company”), a biotechnology and digital technology company aimed at transforming the treatment of mental health and substance abuse disorders, announced today that the company has signed a Letter of Intent (LOI) with Maya. Together, the two companies plan to co-develop a new digital therapy (DTx) platform. This platform would allow Mydecine to improve treatment efficacy by pairing DTx with the company’s existing digital health platform, Mindleap Health (“Mindleap”), alongside the company’s drug therapies to create a trifecta approach.
This collaborative partnership aims to enhance Mindleap’s digital platform by collecting and calculating unique data to create more personalized treatments for patients. Once the new DTx platform is completed, physicians could prescribe the new digital therapeutics in addition to Mydecine’s drug and therapy protocols or as a stand-alone option. The Company believes this will improve the effectiveness of current treatment options by personalizing them for the patient and making them more accessible.
Maya is a purpose-built platform that enables real-world data and research to optimize outcomes and industry standards by improving safety, lowering the cost of care, increasing equity in healthcare. intellectual property and informing the regulation of psychedelic therapies. Maya’s clinically validated surveys, biometric tracking and protocol personalization, combined with Mindleap’s telemedicine, proprietary digital content and community features, will enable the two companies to accelerate the development and commercialization of a new platform. DTx form.
Both companies will conduct rigorous studies to gain FDA Section 510 (k) clearance upon software integration and full regulatory assessment. This authorization will allow the DTx platform to be registered and used as a medical device to enable patients to benefit from insurance reimbursement coverage for treatments on the platform. This developing partnership with Maya will allow the two companies to create stand-alone, evidence-based software as the DTx medical device platform. In addition, the smoking cessation clinical trial in progress Mydecine operates in partnership with Johns Hopkins University, and Mindleap’s current consumer offerings will not be changed or affected.
“The technological integration of the two software platforms aims to enhance the medical capabilities of Mindleap to more quickly and efficiently develop personalized digital prescription-based therapy that will not only complement Mydecine’s smoking cessation treatment, but ultimately for all primary and auxiliary indications targeted by the company. . We believe digital therapy is the next big wave in healthcare. We are convinced that once our DTx platform is completed, Mydecine will be at the cutting edge of technology and well ahead of the competition. The creation and integration of a DTx will be just as valuable as the drug discovery and treatment protocols that the Company currently has under development. The new platform will offer better adherence to treatment protocols, patient experience, biometric information and post-approval insurance reimbursements, ”commented Damon Michaels, co-founder, director and COO of Mydecine.
The global digital therapy market size is estimated to be $ 4.20 billion in 2021 and expects to reach $ 10.62 billion in 2025 at a CAGR of 26.1%. Digital therapies, especially those that a doctor prescribes instead of delivering them directly to consumers, allow biotech companies to improve treatments using modern technology. This partnership will allow Mydecine to accelerate the launch of new functionalities by using a leading technological partner on the market.
David Champion, Founder and CEO of Maya, commented, “Digital therapies are starting to transform the way biotech companies approach clinical development and healthcare delivery. Our team is excited to develop a DTx prescription tool to initially aid in smoking cessation with Mydecine researchers and the Mindleap technology team.
About the Mydecine Innovations Group
Mydecine Innovations Group ™ (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) is a biotechnology and digital technology company that develops innovative new first and second generation therapies for the treatment of mental health and addiction through world-class technology and drug development infrastructure. Mydecine Innovations Group was founded in 2020 on the guiding principle that there is a significant unmet need and lack of innovations in mental health and treatment environments. Mydecine Innovations Group is dedicated to the effective development of innovative therapies to treat PTSD, depression, anxiety, substance abuse and other mental health disorders. Mydecine Innovations Group’s business model combines clinical trials and data results, technological, scientific and regulatory expertise, focusing on psychedelic therapy supported by other new molecules with differentiated therapeutic potential. By collaborating with some of the world’s leading authorities bound by best practices, Mydecine Innovations Group aims to responsibly accelerate the development of new medicines on its platforms, seeking to effectively treat and ultimately change the way we treat health conditions. mental. The vision of Mydecine Innovations Group is to bridge the current gap between what the cognitive health system currently provides and the needs of patients. Mydecine Innovations Group is headquartered in Denver, Colorado, USA, with international offices in Leiden, The Netherlands.
Learn more at: https://www.mydecine.com and follow the company on Twitter, Instagram and LinkedIn.
About Mindleap Health
Mindleap Health Inc. is a wholly owned subsidiary of Mydecine. Mindleap’s virtual healthcare platform offers technology solutions to empower people to improve their mental health and well-being. The Mindleap platform provides remote telemedicine services for mental health coaching through its international network of mental health specialists as well as mental health monitoring and analysis. The Mindleap platform is convenient, improves access to treatment, and can lead to more personal advancements. In addition, Mindleap’s proprietary platform is designed to provide professional support and personalized treatment to each user. The company’s mission is to improve mental health by simplifying, modernizing and improving access to mental health treatment for millions of people around the world.
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Learn more at: https://www.mindleap.com.
The Maya platform enables psychedelic practitioners to map care journeys and improve overall health outcomes. Maya’s global community of providers, participants, and researchers are building a knowledge base to advance safe and accessible psychedelic practices. Maya is a Colorado utility corporation (PBC), which means its team members, advisers, investors, and supporters are aligned to prioritize goal over profit. Additionally, Maya lays the foundation for a global environment for psychedelic healthcare to evolve safely and efficiently with specialized therapy software solutions.
For more information: https://www.mayahealth.com.
For more information please contact:
Morgan Kervitsky, Director of Marketing
+1 (720) 277-9879
+1 (720) 277-9879
On behalf of the Board of Directors:
Joshua Bartch, Managing Director
For more information on Mydecine Innovations Group, Inc., please see the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.
This press release contains forward-looking information within the meaning of Canadian securities laws concerning the Company and its activities, which relate to future events or future performance and reflect the current expectations and assumptions of management. Often, but not always, forward-looking information can be identified by the use of words such as “expect”, “intend”, “anticipate”, “believe”, or variations (including negative variations ) of those words and expressions, or state that specific actions, events or results “may”, “could”, “would” or “will” be undertaken, occur or be achieved. These forward-looking statements reflect the current beliefs of management and are based on assumptions made 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 which may cause future results to differ materially from those expected, including, without limitation, the risks regarding the COVID-19 pandemic, the availability and continuity of funding, the Company’s ability to adequately protect and enforce its intellectual property, the Company’s ability to bring its products into commercial production, the continued growth of the global adaptive medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market with respect to the development, production, sale and use of the Company’s products . Although the Company has attempted to identify important factors which could cause actual results to differ materially from those contained in forward-looking information, other factors may cause the effects to not be as anticipated, estimated or planned. 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. The company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable securities legislation.