Mr. Rob Roscow reports

MYDECINE INNOVATIONS GROUP RECEIVES NOTICE OF ALLOWANCE FROM USPTO FOR ITS MYCO-005 COMPOUND

Mydecine Innovations Group Inc. has received the issuance of a notice of allowance by the United States Patent and Trademark Office (USPTO) for its MYCO-005 compound, "Novel Aza-Substituted Psilocin Analogs And Methods Of Synthesizing The Same Unique Compound (US20230348380A1)."

This composition of matter patent underscores Mydecine's commitment to innovation in mental health therapeutics. MYCO-005, a novel compound that mimics psilocin as an improved version engineered to act therapeutically similar to psilocin while dramatically reducing highly undesirable side effects from long-term sustained use of psilocybin and almost all-known classical serotonin agonists (lysergic acid diethylamide, N,N-dimethyltryptamine etc.), specifically addressing valvular fibrosis concerns recognized by leading clinicians and Food and Drug Administration regulators. MYCO-005 is designed with selective binding to 5-HT2A receptors and does not bind to 5-HT2B receptors for both macro and microdosing.

In 2020, Mydecine filed its provisional patent application encompassing multiple families of psilocin analogs, with MYCO-005 emerging as a second-generation breakthrough. This compound addresses stability and receptor binding concerns associated with first-generation compounds, introducing a novel psilocin analog with potentially heart-safe microdose-enabling properties, eliminating a known cardiovascular risk factor.

Microdosing, gaining recognition as a potential treatment for ADHD (attention deficit/hyperactivity disorder), depression and anxiety, is often hindered by the cardiovascular risks associated with psilocybin. Chief scientific officer Rob Roscow highlighted the risks linked to the 5-HT2B receptor and heart valve tissue fibrosis:

"Mydecine's research on MYCO-005 demonstrates robust binding to the classic psychedelic 5-HT2A receptor while avoiding binding to the 5-HT2B receptor, suggesting an enhanced safety profile for microdosing," stated Mr. Roscow. This advancement positions MYCO-005 as a safer alternative for those suffering from anxiety or depression disorders.

Mydecine Innovations Group continues to lead the way in biotechnological advancements, dedicated to pioneering safer and more effective solutions for mental health and addiction disorders.

About Mydecine Innovations Group Inc.

Mydecine Innovations Group is a publicly traded, prerevenue biopharmaceutical company that began operations in North America and Europe in early 2020. Mydecine was founded to increase physicians' access to serotonin-modulating medicine. Recent research has demonstrated the therapeutic potential of psychedelic substances such as psilocybin and MDMA (3,4-methylenedioxymethamphetamine) for treating intractable conditions such as pain, anxiety, depression, addiction and posttraumatic stress disorder, along with neurodegenerative disorders. Mydecine believes these compounds can be safer, more effective and more accessible for patients and medical professionals through modern drug chemistry paired with artificial intelligence (AI). Through its exclusive partnership with Applied Pharmaceutical Innovation based at the University of Alberta, Mydecine is developing innovative medications for target indications with high mortality rates that have lacked innovation for decades and are controlled by dominant corporations. Mydecine developed several prodrug families, beginning with a psilocybin-derived smoking cessation drug undergoing a National Institute on Drug Abuse-financed trial at Johns Hopkins University. Mydecine is also developing MYCO-006-short-acting chemical analogs derived from MDMA for treating various conditions, including anxiety and pain. Mydecine utilizes cutting-edge artificial intelligence (AI) and pharma research infrastructure at the University of Alberta to develop and manufacture new medications to make them affordable and accessible to the general public upon Health Canada and FDA approval. The Mydecine team is enthusiastic about its mission and is dedicated to creating a positive difference in the lives of others.

We seek Safe Harbor.