MYND Life Sciences Inc. (CSE:MYND) is a drug research and development company focused on novel psychedelic drug development, diagnostic approaches and pharmaceuticals. They describe themselves as “a leading life sciences company,” with their main goal as improving mental health. The company was founded by Dr. Wilfred Jefferies, a Neuroimmunologist with over 60 patents and 100 publications. Their mission is “to further our existing research and patents linking depression and inflammation at the genetic and cellular level to develop pharmaceutical treatments.” MYND claims that the pharmaceutical industry is about to go through a revolution, and they state that pharmaceutical companies have not taken an innovative approach to treating depression as little progress has been seen in the last two decades.
Reasons why MYND Life Sciences wants to treat depression
MYND’s reasoning for wanting to treat depression using psychedelics is as follows: Nearly 264 million people in the world struggle with depression. To help alleviate their symptoms, many people take antidepressants such as SSRIs (selective serotonin reuptake inhibitors). The problem with SSRIs? They focus more on symptom suppression than tackling the root cause of depression. Companies like Mynd have found psychedelics, like psilocybin, to be useful in doing things that SSRIs can’t – like getting to the root cause of mental illness and promoting overall brain health.
The FDA is also supporting research into psilocybin. In 2018, they recognized psilocybin as “breakthrough therapy” for depression. Also, a study from JAMA Psychiatry found that psilocybin “worked better than the usual antidepressant medications.” Plus, The Beckley Foundation said, “Psilocybin was well-tolerated and induced rapid and lasting reduction in the severity of depressive symptoms.”
On June 1st, MYND announced the expansion of their “intellectual property portfolio to more precisely diagnose and then monitor the treatment regime for patients with Major Depressive Disorder (MDD) and other diseases of inflammation.” This new diagnostic program will allow them to better diagnose depression and monitor the disease more precisely once it has been diagnosed.