Mr. Joshua Bartch reports

MYDECINE INNOVATIONS GROUP RECEIVES TWO NOTICE OF ALLOWANCES FROM USPTO FOR ITS MYCO-005 AND MYCO-006 FAMILY OF COMPOUNDS

Mydecine Innovations Group Inc. has been issued two notices of allowance by the U.S. Patent and Trademark Office for compounds from the company's MYCO-005 and MYCO-006 families.

MYCO-005 notice of allowance: Aza-substituted psilocin analogues and methods of synthesizing the same unique compound

Mydecine received its second notice of allowance from the USPTO on one of its novel compounds for composition of matter that is currently under development. The molecule is from the MYCO-005 family of psilocin analogues, and it is the second in this family to receive a notice of allowance. Additional molecules in this family are still under review at the USPTO. This notice of allowance continues to solidify Mydecine's intellectual property portfolio protection. The compound has been under development since 2020, and the company is happy with the further acknowledgment of the novelty of its compounds.

MYCO-006 notice of allowance: advancements in MDMA analogue development

Mydecine received a notice of allowance from the USPTO on one of its novel compounds under development. The molecule is from the MYCO-006 family of MDMA analogues. Additional molecules in this family are still under review at the USPTO. This notice of allowance continues to solidify Mydecine's intellectual property portfolio protection. The compound has been under development since 2021, and the company is pleased with the further acknowledgment of the novelty of its compounds.

This is the third notice of allowance covering the composition of matter for Mydecine's second-generation psychedelic compounds from the USPTO. The company expects numerous further patent grants in the near term. In addition, the company has filed in several international jurisdictions for each covered compound.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (European Union) 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, and is disclosed in accordance with the company's obligations under Article 17 of MAR.

About Mydecine Innovations Group Inc.

Mydecine 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 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. 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-funded trial at Johns Hopkins University. Mydecine is also developing MYCO-006 short-acting chemical analogues derived from MDMA for treating various conditions, including anxiety and pain. Mydecine utilizes cutting-edge artificial intelligence 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 Food and Drug Administration 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.