Mind Medicine (MindMed) Inc (OTCMKTS: MMEDF) (FRA: MMQ) is an exciting Company making big moves in Psychedelic medicine that has seen a wild ride up the charts In recent months; the Company has some exciting irons in the fire including a planned Phase 2a study of its 18-MC product, in opioid addiction by the end of this year. MindMed and the University Hospital Basel’s Liechti Lab also recently announced they are combining MDMA and LSD in a groundbreaking Phase 1 clinical trial, scheduled to start in Q4 of this year in Basel, Switzerland. MindMed is fully funded and is focused on up-listing its shares to the NASDAQ; to that end the Company has submitted its application to NASDAQ Capital Markets and has appointed Canaccord Genuity Corp as financial advisor. Kevin O’Leary of Shark Tank fame is an inportant investor in MindMed.
The powerful rise of MindMed comes on the heels of Compass Pathways historic $100 million initial public offering on the NASDAQ Psychedelic medicine is getting noticed by investors since famed Silicon Valley billionaire investor and PayPal co-founder Peter Thiel led an $80 million round of funding for psychedelic-focused biotech company Compass Pathways; Compass is the first company to receive breakthrough therapy designation from the FDA for psychedelic medicine as a therapy for treatment-resistant depression.
Mind Medicine (MindMed) Inc (OTCMKTS: MMEDF) (FRA: MMQ) is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to the company’s groundbreaking approach to developing the next-generation of psychedelic inspired medicines and therapies. MindMed trades on the Canadian exchange NEO under the symbol MMED. MindMed is also traded in the United States under the symbol MMEDF and in Germany under the symbol MMQ.
MindMed and the University Hospital Basel’s Liechti Lab are combining MDMA and LSD in a groundbreaking Phase 1 clinical trial, scheduled to start in Q4 of this year in Basel, Switzerland. Combined MDMA-LSD treatments have the potential to create next-generation psychedelic assisted therapy paradigms. MindMed recentlyreceived approval from the ethics committee at the University Hospital Basel to undertake an interim readout and analysis of the Phase 2a study using LSD assisted therapy for anxiety disorders being conducted in Switzerland by Dr. Matthias Liechti and Dr. Peter Gasser. MindMed in partnership with the Liechti Lab will conduct this interim analysis of the Phase 2a clinical trial data in Q1 2021.
MindMed is conducting a Phase 2a Proof of Concept study evaluating microdoses of LSD for the treatment of Adult ADHD has successfully reached an agreement on the study protocol with both the Swiss and Dutch health authorities. MindMed’s clinical and technical operation teams are in the process of producing and preparing the GMP LSD material necessary to begin dosing for the Phase 2a commercial drug trial. MindMed’s clinical and regulatory team has recently completed a pre-IND briefing package and submitted it last week to the FDA in preparation for a pre-IND call with the FDA in December. Data from a recently completed Phase 1 dose range finding study by the Liechti Lab together with multiple other Phase 1 studies conducted both in patients and healthy volunteers over the past 10 years helped define the dosing regimen proposed by MindMed to the FDA for the proposed Phase 2b clinical trial.
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Mind Med is fully funded moving forward; the Company closed another financing on October 30 bringing its cash reserves to USD $37.8 million ($50.1 million CAD) to enable continued progress of its clinical trial pipeline of psychedelic inspired medicines and experiential therapies. In November the Company completed a $25 million offering with Canaccord Genuity Corp as lead underwriter.
Recently management stated it is evaluating an expanded United States investor base through an up-listing on the NASDAQ Capital Market. As part of this up-listing strategy in the United States, MindMed has submitted an application to list its subordinate voting shares on NASDAQ. The listing of MindMed’s shares on NASDAQ will be subject to a number of regulatory requirements, including review of the company and acceptance for listing by NASDAQ.
MindMed has established a new digital medicine division known as Albert. Albert is in the process of assembling and recruiting a leading team of technologists, therapists, and clinical drug development experts to help the company research, develop and build an integrated technical platform and comprehensive toolset aimed at delivering psychedelic inspired medicines and experiential therapies combined with digital therapeutics. Digital therapeutics are defined as evidence-based therapeutic interventions for patients to prevent, manage, or treat a mental disorder or disease. Pairing digital tools, such as wearables and the latest in machine learning, with psychedelic assisted therapies, can give healthcare providers the ability to optimize and better understand the patient journey and therapeutic outcomes from pre-care through to after-care.
MindMed’s clinical team under the leadership of President and Head of Clinical Dr. Miri Halperin Wernli is designing an experimental clinical trial that pairs non-hallucinogenic psychedelic inspired medicines such as microdoses of LSD with digital therapeutics to track, engage and influence patient behavior. MindMed intends to announce full details of this clinical trial once MindMed and its scientific collaborators finalize the protocol design for submission to relevant health regulators.
Great @kevinolearytv interview on The Pomp Podcast. He talks about his $MMED investment in the psychedelic space and reveals what would make him more bullish on #bitcoin @APompliano https://t.co/hzMWxHqAfa
— ColinTrades (@colin__trades) December 1, 2020
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MindMed has also successfully submitted a pre-IND briefing package to the FDA for its Project Lucy, a potential Phase 2b Efficacy Trial evaluating LSD Assisted Therapy in anxiety disorders. In addition, the company has now reached an agreement with University Hospital Basel Liechti Lab to conduct an interim analysis anticipated in Q1 2021 for its Phase 2a clinical trial of LSD assisted therapy for anxiety disorders currently ongoing in Switzerland. MindMed has aplanned Phase 2a study of its 18-MC product, in opioid addiction by the end of this year. MindMed and the University Hospital Basel’s Liechti Lab also recently announced they are combining MDMA and LSD in a groundbreaking Phase 1 clinical trial, scheduled to start in Q4 of this year in Basel, Switzerland. The run on Mind Medicine comes on the heels of Compass Pathways historic $100 million initial public offering on the NASDAQ. Psychedelic medicine is getting noticed and the space is heating up and getting noticed after PayPal co-founder Peter Thiel led an $80 million round of funding for psychedelic-focused biotech company Compass Pathways. MindMed is fully funded with $37.8 million in cash reserves and is focused on up-listing its shares to the NASDAQ; to that end the Company has submitted its application to NASDAQ Capital Markets and has appointed Canaccord Genuity Corp as financial advisor. We will be updating on MindMed when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MindMed.
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Disclosure: we hold no position in MindMed either long or short and we have not been compensated for this article.