By reMind Staff —

A group of directors resigned from Mydecine Innovations Group on Friday, sparking a major transition at the Denver-based biotech.

Damon Michaels, Josephine Wu, Dr. Saeid Babaei and Dr. Victoria Hale resigned as directors, according to a company press release.

“The departures are part of a larger organizational shift that will allow the corporation to concentrate on its core competencies with more efficiency,” the statement said. “The company would like to express their gratitude to Mr. Michaels, Ms. Wu, Dr. Babaei, and Dr. Hale for all of the valuable contributions they have made to the company and wish them the best of luck in all of their future endeavors.”

According to the press release, Michaels will continue to serve as chief operating officer for the organization.

Last month, Mydecine filed patent applications to protect its MYCO-006 family of novel short-acting MDMA analogs.