Mydecine Innovations Group (CAN:MYCO / US:MYCOF) made a big splash today in the psychedelics sector in announcing the appointment of Dr. M.S. Reddy to its Scientific Advisory Board.
For investors interested in psychedelics companies, Dr. Reddy is the Real Deal. His illustrious resume includes being the holder of over 150 U.S. and international patents. More than 100 of these patents are currently in commercial use.
Dr. Reddy is also a prolific writer. In addition to more than 70 published scientific articles, he is a best-selling author who has written several books.
Arguably, these credits aren’t even Dr. Reddy’s principal claim to fame. He is also a 7-time nominee for the Nobel Peace Prize.
A pre-eminent authority on microbiology, Dr. Reddy will be overseeing Mydecine’s 7,500 sq. ft. mycology lab. The Company plans on researching not only rare fungal strains but also bacteria.
Dr. Reddy has already been decorated with over 100 national and international awards from his previous research initiatives, including:
- Richard M. Hoyt Memorial award (American Dairy Science Association)
- Outstanding Young Alumnus (Iowa State University)
- Sigma-Xi Research award
- Outstanding Scientist award (IAFC) (2003, 2004, 2005)
- Outstanding Businessman of the Year award
- Ronald Reagan Gold Medal award
While Dr. Reddy’s appointment won’t put money into the Company coffers directly (at least not overnight), his appointment will likely benefit Mydecine almost as much in its fund-raising in capital markets as in its actual psychedelic drug R&D. Its stock is currently trading up 3.85% to CAD$0.81.
As the psychedelics industry builds itself from the ground up, Mydecine Innovations Group has just added an impressive feather to its cap.