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Sunday, April 18, 2021

The Powerful Run on Mind Medicine Inc (OTCMKTS: MMEDF)

Mind Medicine (MindMed) Inc (OTCMKTS: MMEDF) is making a powerful move up the charts running into dollar land after the Company reported it has received approval of protocol design to evaluate microdoses of LSD for Adult ADHD in a Phase 2a Clinical Trial from Swiss and Dutch Health Authorities. 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.

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.

MindMed 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 experiential 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.

Mind Medicine is well 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. 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.

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Earlier this year MindMed and the University Hospital Basel’s Liechti Lab reported they 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.

On November 16 MindMed reported it has received a positive response on its protocol design for a Phase 2a clinical trial evaluating microdoses of LSD in the treatment of adult ADHD from the Swiss and Dutch health authorities. 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’s 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 continues its powerful move up the charts in recent weeks after the Company reported it had received approval of protocol design to evaluate microdoses of LSD for Adult ADHD in a Phase 2a Clinical Trial from Swiss and Dutch Health Authorities. 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.

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