Psychedelics junior Mydecine Innovations Group (CAN:MYCO / US:NLBIF) took a major step in ramping up its psilocybin-based research on Friday.
The company announced a “research division agreement” with Applied Pharmaceutical Innovation (API). API is a drug development institute, hosted in the University of Alberta’s Faculty of Pharmacy and Pharmaceutical Sciences.
The University of Alberta is a hotbed of pharmacology research.
API brings additional assets to the table in this partnership.
With psychedelics-based drug research already spreading into many different fields of medicine, adding an artificial intelligence/machine learning component to such research can only expedite Mydecine’s drug development initiatives.
Mydecine’s CSO, Robert Roscow put the announcement into context for investors.
The University’s Health Canada licensing for psychedelics-based research is the icing on the cake in this agreement.
For investors interested in Mydecine, this may be the missing puzzle-piece they were looking for. With a world class base of operations from which to pursue its psilocybin-based research, the company is now well-positioned to compete with industry leaders in the space.
Published at Mon, 15 Jun 2020 16:35:15 +0000