Health Crisis-Induced Post-Traumatic Stress Disorder Creates Growing Need for Treatment Options

NEW YORK, Dec. 8, 2020 /PRNewswire/ -- The health crisis has resulted in over one million deaths to date, but another emerging consequence of the global pandemic is affecting a much larger demographic. Aside from the growing death toll, the COVID-19 pandemic is sending mental illness cases skyrocketing, including an increase in post-traumatic stress disorder (PTSD). An estimated 70% of US adults experience at least one trauma in their lives that could lead to PTSD, yet effective treatments are few and far between. At present there are only five FDA-approved prescription drugs for the treatment of PTSD, including Pfizer's (NYSE: PFE) Zoloft. There are also off label treatments like AstraZeneca's (NASDAQ: AZN) Quetiapine. The problem is that these medications can be highly addictive and often come with a long list of side effects, fueling companies like Tonix Pharmaceuticals (NASDAQ: TNXP), Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF), and Mydecine Innovations Group Inc. (CSE: MYCO) (MYCOF) to develop effective alternatives.

Mydecine Innovations Group is an emerging biopharma and life sciences company focused on the research, development, and acceptance of alternative nature-sourced medicine to help combat the growing mental health crisis.

Pandemic Shines Light on Demand for Effective PTSD Treatments

The mental health of first responders became a major focus following the aftermath of the 9/11 terrorist attacks, shedding light on the risks of being exposed to emergency settings. Frontline workers are being tested to their limits once again due to COVID-19 and are at a high risk of developing PTSD.

While many biotech companies have switched gears to focus on potential vaccines and treatments for COVID-19, Mydecine Innovations Group is looking to help tackle the ongoing mental health crisis through its clinical trials and its own digital mental health platform. In mid-November, Mydecine announced the international expansion of its Phase 2A clinical trials of psilocybin-assisted psychotherapy to treat chronic PTSD in veterans and emergency medical services (EMS) personnel.

The research is taking place at Leiden University Medical Centre in the Netherlands, the University of Alberta, and the University of Western Ontario, with plans to add additional clinical sites in the USA, Europe, and Australia. The clinical trials will explore how the brain responds to psychedelics to develop a better understanding of the biological underpinnings of the experience. Following their completion, Mydecine Innovations Group will use the data from their studies to build on its knowledge to move forward with an application for FDA breakthrough designation.

Mydecine Innovations Group also recently launched the Mindleap app, the world's first telehealth platform for psychedelic integration. The platform, which was launched on September 30 on iOS and Android, offers a powerful set of tools for managing mental healthcare. Mindleap allows users to connect virtually with specialists and enables mood, emotion, and habit tracking, while having the ability to schedule appointments, and purchase mental health services.

Before the new year, Mydecine Innovations Group will be expanding Mindleap by adding mental health specialists with different aptitudes and a digital therapeutics marketplace that offers comprehensive mental health programs that focus on addiction, meditation, psychedelic integration, holistic wellness, and drug harm reduction.

Psychedelic medicine biotech company Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF) is another company making headway in its clinical studies to evaluate potential treatments to help patients with anxiety, ADHD, cluster headaches, and substance abuse. MindMed is also in the process of establishing a digital medical division known as Albert, an integrated technical platform and comprehensive toolset aimed at delivering psychedelic-inspired medicines and experiential therapies combined with digital therapeutics.

Tonix Pharmaceuticals (NASDAQ: TNXP) is another biopharmaceutical company looking to help combat mental illness, although the company hit a speedbump in its Phase III RECOVERY study of Tonmya for PTSD earlier this year. In February, Tonix decided to stop enrollment in the study due to inadequate separation from placebo. Luckily, the company continued forward and has recently outlined a new statistical method to analyze future PTSD drug studies.

Until these alternative treatments come to market, consumers are continuing to turn to Pfizer's (NYSE: PFE) Zoloft to combat things like depression, anxiety, and PTSD. In fact, Zoloft is one of the most commonly prescribed antidepressants in the US and in other countries, which led to a shortage of the drug during the height of the pandemic.

Another treatment for PTSD and other mental illnesses, including schizophrenia and bipolar disorder, is the powerful antipsychotic quetiapine, which was developed by AstraZeneca (NASDAQ: AZN) and is sold under the name Seroquel. The drug has become wildly popular for several off label uses, including insomnia caused by PTSD; however, the adverse effects of the drug came into the spotlight through data obtained from the FDA's Adverse Event Reporting System in 2017.

Of course, Seroquel isn't the only prescription antidepressant that causes adverse effects. Prescription drugs for depression, anxiety, and PTSD all come with a list of common and severe side effects, which range from nausea and dizziness to loss of consciousness and suicidal ideation.

The market is clearly in need of safe and effective alternatives for treating mental health, creating a large opportunity for companies like Mydecine Innovations Group.

For more information on Mydecine Innovations Group (CSE: MYCO) (MYCOF), please visit this link.

Disclaimer:  Microsmallcap.com (MSC) is the source of the Article and content set forth above. MSC owns and operates Streetsignals.com. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Mydecine Innovations Group Inc.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

Media Contact:
FN Media Group, LLC
[email protected]
+1(561)325-8757

SOURCE Microsmallcap.com

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED