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Friday, November 26, 2021

Clinical Trials And Uplisting; The Rise of Mind Medicine (MindMed) Inc (OTCMKTS: MMEDF)

Mind Medicine (MindMed) Inc (OTCMKTS: MMEDF) is making a powerful move up the charts in recent weeks quickly attracting legions of new shareholders and emerging as a volume leader in small caps. MindMed 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 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 with $24 million in the treasury 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.

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) 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. The Company is well funded with $24 million in cash in the treasury which will be used primarily to execute the company’s multiple clinical trials.

Last year MindMed concluded dosing in its Phase 1 Single Ascending Dose (SAD) study of 18-MC. The dosing of 18-MC was well tolerated in humans and will help advance planning for a Phase 2a clinical trial in opioid addiction. 18-MC is a non-hallucinogenic molecule based on the psychedelic substance ibogaine. The study tested doses ranging from 4mg to 16mg twice a day and all participants were evaluated for pharmacokinetics and safety. MindMed’s addiction treatment unit is currently focused on developing novel medicines inspired by psychedelics for addiction to address the growing opioid crisis in both Canada and the United States. The US opioid crisis is estimated to cost the US economy over $500 billion annually. MindMed plans to begin the Phase 2a study of 18-MC in opioid addiction by the end of this year

MindMed is planning to move to the NASDAQ! on September 1 the Company reported 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.  There can be no assurance that NASDAQ acceptance will be granted. MindMed has appointed Canaccord Genuity Corp. as financial advisor to assess the viability of a potential up-listing to NASDAQ and also help to evaluate M&A opportunities available to the company.

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In August MindMed and the University Hospital Basel’s Liechti Lab 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. Combined MDMA-LSD treatments have the potential to create next-generation psychedelic assisted therapy paradigms. If MindMed finds the results promising, the company may decide to undertake further studies with treatments combining MDMA and LSD, and prepare patient trials for various indications.

More recently MindMed reported it has been conducting R&D work on psilocybin in collaboration with the University Hospital Basel’s Liechti Lab in a study to better understand and compare the altered states of consciousness induced by psilocybin and LSD. MindMed is interested in understanding how psilocybin or LSD affects humans differently so that it can design better later stage trials or potentially even combine substances in future next-generation psychedelic assisted therapies for patients. The study is anticipated to finish in Q2 2021. There is increasing medical interest in LSD and psilocybin for the treatment of mental illnesses. However, LSD and psilocybin have never been accurately compared in a modern clinical setting to understand the differences they create in the alterations in one’s mind.

On October 5 MindMed announced $5 million USD funding commitment to found and launch a clinical training program focused on psychedelic assisted therapies and psychedelic inspired medicines at NYU Langone Health, one of the nation’s premier academic medical centers. The NYU Langone Health Psychedelic Medicine Research Training Program is the first step in a larger initiative to establish a Center for Psychedelic Medicine at NYU Langone Health. NYU Langone Health and NYU Grossman School of Medicine have been early pioneers of clinical research with psychedelic assisted therapies and psychedelic inspired medicines for substance use disorders and other mental illnesses. Through this funding initiative, MindMed aims to catalyze efforts to recruit and train more psychiatrists and clinical investigators to undertake necessary research to develop training tools capable of scaling and optimizing the delivery of psychedelic assisted therapies and psychedelic inspired medicines to millions of patients across the United States. MindMed is committing $5 million over a five-year period to the NYU Langone Health Psychedelic Medicine Research Training Program and the future corresponding Center for Psychedelic Medicine at NYU Langone Health.

MindMed Co-Founders and Co-CEOs Stephen Hurst and JR Rahn stated: “The successful and on-time completion of dosing in this Phase 1 study for 18-MC is an important first step in our company’s mission to alleviate systemic societal problems with addiction and mental health using psychedelic inspired medicines. We are very pleased with the initial dosing outcome of this Phase 1 SAD study. It gives our clinical team confidence as we advance preparations to begin our Phase 2a clinical trial and hope for millions of patients suffering from opioid addiction.”

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Currently on a powerful move up the charts MindMed is an exciting story deveping in small caps; the Company is an emerging powerhouse in the fast emerging Psychedelic medicine space. The space 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. MindMed 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 with $24 million in the treasury 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 counts Shark Tank Investors Kevin O’Leary and Toms Shoes Founder Blake Mycoskie as Investors. 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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