Mydecine Innovations Group Provides Update on European Operations

DENVER, March 16, 2021 (GLOBE NEWSWIRE) -- Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced therapeutic medicine for mainstream use, announced that it has appointed Michel Rudolphie, former CEO and President of Make-A-Wish International and former Novartis Norway CEO, as President of the Company’s European Operations. In addition to adding new leadership, the Company also announces that it has partnered with Principal Investigator Dr. David Erritzoe at Imperial College London (ICL) to conduct leading research in the expanding field of psychedelics, as well as the creation of a novel collaborative psychopharmacology/psychedelic research clinic between ICL and a major mental health NHS Trust in London.

In an effort to further develop the Company’s international footprint and expand upon its existing clinical research efforts, Michel has been appointed to develop and lead Mydecine’s strategy, business development and comprehensive success across Europe. In addition, he will oversee Mydecine’s European clinical research initiatives and partnerships including its current Phase 2a clinical trials of psilocybin-assisted psychotherapy to treat chronic PTSD in veterans and EMS personnel at Leiden University Medical Centre in the Netherlands.

Michel, a Dutch citizen with a MSc and MBA in Healthcare Management and Policy from Erasmus University in Rotterdam, has an impressive career record in the healthcare industry, with a succession of leadership positions at Novartis for 14 years, including four years serving as CEO of Novartis Norway.

“We have significant plans in 2021 to capitalize on the international renaissance for psychedelics-based therapies amongst the medical community and researchers. European universities and other research organizations, particularly those in the U.K. and Netherlands, have shown great enthusiasm and determination to better understand the science of how these drugs work and how they can be utilized to help people suffering from PTSD,” said Josh Bartch, CEO of Mydecine. “In our conversations with Michel, it quickly became clear that his extensive experience in the international pharmaceutical space coupled with his knowledge of developing and executing partnerships with both non-profit and for-profit organizations would be a great asset to our growth. His impressive personal qualifications and as importantly, his demonstrated passion and commitment to advocating for enhanced PTSD treatment for uninformed individuals, perfectly aligns with the vision and mission of Mydecine and we are thrilled to add him to our senior management team.”

In 2018, Michel joined Make-A-Wish International as CEO and President and was responsible for moving the international headquarters from Phoenix, Arizona to the Netherlands, in addition to assembling a new team and developing the foundation’s internal and external strategy. Prior to joining Make-A-Wish, he served as the CEO and President of the Dutch Cancer Society, the largest health charity in the Netherlands. He has also previously served in a number of senior management roles within the healthcare industry including as CEO of Bioness and Vice President of European Operations for Nucletron, a global medical device company specializing in innovative products used for cancer treatment.

“Throughout my career, I have leveraged my experiences in the healthcare sector to advance both start up and mature companies through their various stages of development,” said Michel. “I’m very excited to join the Mydecine team, which has outstanding expertise in new approaches to innovative solutions for treating mental health and enhancing vitality. Having built a culture of scientific excellence, and building a global network among leading research collaborators, Mydecine is poised for its next evolution in meeting compelling patient needs in mental illness and mental disorder.”

With regard to Mydecine’s work with ICL and Dr. Erritzoe, the research to be undertaken in the new NHS-based research clinic is set out to cover:

• Experimental psychopharmacology research in healthy populations and in addictions, obsessive compulsive disorder, eating disorders, and affective disorders;
• Proof of concept studies and clinical trials testing efficacy, safety and mechanisms using a range of doses from micro- to macro-doses of psychedelics and associated compounds;
• Use of multimodal human brain imaging to investigate mechanisms behind the actions of classic psychedelics and ketamine.

Part of Dr. Erritzoe’s current work includes studies that evaluate the science and efficacy of different doses of psychedelics in order to uncover mechanisms of actions and effects on brain plasticity, and cognitive and emotional processes. “The research of Dr. Erritzoe, who has published extensively on the science of psychedelics and microdosing, is critical to advancing the scientific efficacy of psychedelic medicines, and the results of studies from his team will be of critical importance as we develop the drug design and protocols for future controlled studies led by Mydecine,” said Mr. Bartch. “We are honored to be working with the Centre for Psychedelic Research and the new NHS-based research clinic as they progress and collect this important information to ensure safe use of psychedelics with the goal of producing the best possible outcomes for patients.”

Dr. Erritzoe is a Clinical Senior Lecturer in Psychiatry at Imperial College London. Alongside his clinical work in medicine/psychiatry, he conducts psychopharmacological research, using brain-imaging techniques such as PET and MRI. He was trained in PET imaging at Columbia University in New York and later undertook a PhD at University Hospital Rigshospitalet in Copenhagen. Since 2009 he has been involved in post-doc imaging research in the neurobiology of addictions and major depression at Imperial, and, together with Professor David Nutt and Dr. Carhart-Harris, he investigates mechanisms and therapeutic potential of MDMA and classic psychedelics.

“It is a very interesting time for psychedelic science and we are privileged and thankful to have received support to start an exciting new research clinic based at St Charles Hospital in CNWL Mental Health NHS Foundation Trust that will allow us to expand our clinical psychopharmacological research conducted from the Centre for Psychedelic Research at Imperial,” said Dr. Erritzoe. “Mydecine supports the expansion of ongoing work in the Centre at ICL and their contributions and enthusiasm for furthering this important work.”

About Mydecine Innovations Group
Mydecine Innovations Group™ (CSE: MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.

At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

Learn more at: https://www.mydecine.com/ and follow us on Facebook, Twitter, and Instagram.

Mydecine Innovations Group Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications
adonohoe@kcsa.com / nopich@kcsa.com
212-896-1265 / 212-896-1206

On behalf of the Board of Directors:
Joshua Bartch, Chief Executive Officer
contact@mydecineinc.com

Corp Communications:
Charles Lee, Investor Relations
corp@mydecineinc.com
+1 720-277-9879

For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

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