Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) announced that it would be launching a special access psychedelic-assisted psychotherapy program, called the Special Access Support and Supply Program. The program will be available to patients who require alternative treatment modalities in Canada. The country recently added psilocybin and MDMA to its Special Access Program.
Mydecine’s objective is to change the way in which mental health conditions and addiction disorders are treated. The company will provide support services through the program, which will play an important role in fulfilling the company’s mission statement. This is in addition to offering specialized psychedelic therapy products to physicians, clinics and hospitals in various parts of Canada.
In a public statement about the program, Mydecine chief medical officer Dr. Rakesh Jetly stated that the company recognized that there were patients suffering from mental health indications who hadn’t responded to evidence-based treatments and the company was committed to demonstrating the effectiveness and safety of psychedelic medicines for certain indications through its clinical trials.
He added that he believed Mydecine’s program could help treat a substantial patient population in need of alternative options, noting that the company’s team of doctors, researchers and advisors had significant experience in administering these treatments and looked forward to sharing that expertise and knowledge to promote the successful and responsible use of MDMA and psilocybin.
The company’s news closely follows a Health Canada announcement that amended government regulations, thereby allowing practitioners and pharmacists to request psilocybin and MDMA for patients who haven’t benefitted from other treatment modalities. Mydecine’s program will set the stage for practitioners to acquire a package that contains protocol training, advisory services, therapy manuals, psilocybin and MDMA, post-therapy support and investigative brochures. These services and products will be offered through Mydecine subsidiary Mindleap Health.
The company’s CEO Josh Bartch stated that the objective of the Special Access Support and Supply Program was to help physicians who believed that the use of alternative treatments such as psilocybin and MDMA would assist patients in overcoming addiction and mental health challenges. Currently, the company is producing psychedelics through the Schedule 1 Drugs/Substance license as well as carrying out a number of clinical trials that are evaluating the effectiveness of psychedelic compounds as treatment modalities. The company also has a partnership with Johns Hopkins University.
While there’s no guarantee that a similar program will be launched in other countries, the launch of the Special Access Support and Supply Program in Canada is an optimistic indicator for shareholders of the psychedelic company.
NOTE TO INVESTORS: The latest news and updates relating to Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) are available in the company’s newsroom at https://ibn.fm/MYCOF
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