Victoria, BC

Join us on Vancouver Island in majestic Victoria, BC for 3 days of cannabis cultivation and extraction.

June 20-22, 2022

Niagara Falls, ON

Join us in spectacluar Niagara Falls, ON for 3 days of cannabis cultivation and extraction.

September 12-14, 2022

Grow Up Awards Gala

Annual Grow Up Industry Awards. Come celebrate the innovation and sucess in the cannabis growing industry.

June 20, 2022, Victoria, BC

Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) (FSE: ONFA) Signs LOI with Maya to Co-Develop a Prescription Digital Therapeutics Platform Targeting a Trifecta Approach to Patient Care

Jan 7, 2022 | Media Partners, Psychedelic News Wire

This post is presented by our media partner Psychedelic News Wire
View the original article here.

  • Mydecine has signed a letter of intent with Maya detailing a collaborative partnership to develop a novel digital therapeutics (“DTx”) platform
  • The DTx platform is expected to create a three-pronged approach to patient care by combining Mydecine’s Mindleap digital health platform with its medication-based treatments
  • According to COO Damon Michaels, the new platform will provide improved adherence to treatment protocols, patient experience, biometric insights, and post-approval insurance reimbursements
  • Both companies intend to pursue rigorous studies to achieve FDA clearance

Regarded as the convergence of health care and software that has resulted in a new crop of life sciences technology helping to transmute patient care and deliver improved clinical results, digital therapeutics (DTx) holds much promise. For one, it could potentially address unmet patient needs that conventional therapies and treatments have failed to resolve. 

With growing evidence indicating that DTx can decrease health care costs, personalize care, and bring about better outcomes (https://ibn.fm/3F3UB), Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: ONFA), a biotechnology and digital technology company aiming to transform the treatment of mental health and addiction disorders, is positioning itself to play a key role in this segment.

Recently, the company signed a letter of intent (“LOI”) with Maya (https://ibn.fm/mI177). Under the terms of the LOI, both companies intend to collaborate to develop a novel DTx platform. Combined with Mindleap Health – Mydecine’s existing digital health platform that offers technology solutions such as telemedicine services and exclusive digital content to allow patients to improve their mental health, the DTx platform is expected to create a three-pronged approach to patient care. Once complete, for instance, physicians could prescribe the new digital therapeutic as a standalone option or in concert with Mydecine’s drug and therapy protocols.

“The technology integration of the two software platforms is aimed at enhancing Mindleap’s medical capabilities to more quickly and efficiently develop a personalized prescription-based digital therapeutic that will not only complement Mydecine’s smoking cessation treatment [MYCO-001] but eventually for all primary and ancillary indications the company is targeting,” commented Damon Michaels, Mydecine Co-Founder, Director, and COO. “The new platform will provide improved adherence to treatment protocols, patient experience, biometric insights, and post-approval insurance reimbursements.”

The new DTx platform, Mydecine says, aims to improve Mindleap by collecting and computing unique data to create more personalized treatments. The company believes it will enhance the efficacy of current treatment options by not only personalizing them to individual patients but also increasing their availability. 

“Maya’s clinically validated surveys, biometric tracking, and protocol customization combined with Mindleap’s telemedicine, exclusive digital content, and community features will allow both companies to accelerate the development and commercialization of a novel DTx platform,” said Mydecine in a recent news release.

Maya and Mydecine intend to pursue rigorous studies to achieve FDA Section 510(k) clearance – integral to the platform’s registration – upon software integration and a comprehensive regulatory assessment. According to the company, the collaborative partnership will not affect or alter its existing programs, including the current smoking cessation clinical trial and Mindleap’s current consumer-facing offerings.

A Deloitte article on DTx notes that companies that can take full advantage of emerging life sciences technology to address unmet patient needs, “in combination with faster product development timelines, could gain a significant advantage over traditional life sciences companies” (https://ibn.fm/TnnZ8). 

In this regard, Mydecine, which is leveraging the collaborative partnership with Maya to more quickly and efficiently develop a DTx platform, is ideally poised to gain a significant advantage in a market expected to grow at a 26.1% CAGR between 2021 and 2025, according to a report by The Business Research Company (https://ibn.fm/gsWLT). 

Maya is a platform that leverages real-world data and research to empower psychedelic practitioners with the ability to improve health outcomes and comprehensively map care journeys for safe psychedelic practices, reduced care cost, and increased IP equity.

For more information, visit the company’s website at www.Mydecine.com.

NOTE TO INVESTORS: The latest news and updates relating to MYCOF are available in the company’s newsroom at https://ibn.fm/MYCOF

About PsychedelicNewsWire

PsychedelicNewsWire (PNW) is a specialized content distribution company that (1) aggregates and distributes news and information on the latest developments in all aspects and advances of psychedelics and their use, (2) creates PsychedelicNewsBreaks designed to quickly update investors on important industry news, (3) leverages a team of expert editors to enhance press releases for maximum impact, (4) assists companies with the management and optimization of social media across a range of platforms, and (5) delivers unparalleled corporate communication solutions. PNW stays abreast of the latest information and has established a reputation as the go to source for coverage of psychedelics, therapeutics and emerging market opportunities. Our team of seasoned journalists has a proven track record of helping both public and private companies gain traction with a wide audience of investors, consumers, media outlets and the general public by leveraging our expansive dissemination network of more than 5,000 key syndication outlets. PNW is committed to delivering improved visibility and brand recognition to companies operating in the emerging markets of psychedelics.

To receive instant SMS alerts, text “Groovy” to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.PsychedelicNewsWire.com

Please see full terms of use and disclaimers on the PsychedelicNewsWire website applicable to all content provided by PNW, wherever published or re-published: https://www.PsychedelicNewsWire.com/Disclaimer

Do you have questions or are you interested in working with PNW? Ask our Editor

PsychedelicNewsWire (PNW)
San Francisco, California
www.PsychedelicNewsWire.com
415.949.5050 Office
[email protected]

PsychedelicNewsWire is part of the InvestorBrandNetwork.

This post was originally published by our media partner here.

UPCOMING EVENTS

O’Cannabiz – June 1-3, 2022
International Convention Centre, Toronto ON

Grow Up – June 20-22, 2022
Victoria Convention Centre, Victoria ON

Grow Up – September 12-14, 2022
Niagara Falls Convention Centre, ON

News from Grow Up Media partners