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On May 5, 2021, Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced the launch of Project Angie to advance psychedelics, particularly LSD, for treating pain conditions. The company will initiate a Phase 2a Proof of Concept study, submitting a pre-IND briefing to the FDA in the latter half of 2021. With the global analgesics market projected to grow by over $31 billion by 2030, MindMed seeks to innovate within the pain treatment sector. Preliminary studies indicate psychedelics may offer a novel treatment mechanism for pain relief.
MindMed (Nasdaq: MNMD) announced its subordinate voting shares will start trading on The Nasdaq Capital Market under the symbol MNMD on April 27, 2021. This significant milestone is expected to enhance the company's visibility, liquidity, and shareholder base, ultimately increasing long-term shareholder value. MindMed continues to trade on the NEO under MMED and OTCQB under MMEDF until the Nasdaq trading begins. The company focuses on developing psychedelic-inspired medicines for addiction and mental illness.
MindMed (OTCQB: MMEDF) announced a groundbreaking study on MDMA dosing optimization using personalized medicine, published in the Journal of Psychopharmacology. Conducted at the University Hospital Basel, the research analyzed data from 194 MDMA administrations across 10 studies. Key findings indicate that factors like body weight, genetics, and personality traits can predict responses to MDMA, suggesting personalized dosing may enhance therapeutic effects and minimize adverse reactions. The study is a step towards individualized treatments for mental health conditions.
Mind Medicine (MindMed) Inc. has filed a preliminary short form base shelf prospectus with Canadian securities regulators and a corresponding registration statement with the U.S. SEC, allowing it to offer up to CAD$500 million in securities over the next 25 months. This initiative aims to provide the company with flexibility for various strategic initiatives aligned with its growth strategy. The registration statement is not yet effective, inhibiting any sales or offers related to the securities until then.
Mind Medicine (MindMed) Inc. has appointed Dr. Robert C. Malenka, a renowned neuroscientist from Stanford University, as the Chair of its Scientific Advisory Board. This decision aims to enhance the company's innovative approaches to developing psychedelic-inspired treatments for mental health and addiction. Dr. Malenka brings extensive expertise in psychiatry and neuroscience, with significant contributions to brain plasticity. MindMed's CEO, J.R. Rahn, expressed confidence in Dr. Malenka's ability to guide the company's research and development efforts.
MindMed (OTCQB: MMEDF) has been added to the FTSE Global Micro-Cap Index and FTSE Total-Cap index, effective March 19, 2021. These indexes represent a substantial market cap, with the FTSE Global Micro-Cap at $1.3 trillion and the FTSE Total-Cap at $54.7 trillion. CEO J.R. Rahn expressed pride in this milestone, emphasizing the company's commitment to innovating treatment options for mental health and addiction. MindMed focuses on developing psychedelic-inspired therapies aimed at addressing these critical health issues, which is supported by a strong executive team with biopharmaceutical expertise.
Mind Medicine (MindMed) Inc. has successfully completed its acquisition of HealthMode, a startup focused on AI-enabled digital measurement for clinical research. This strategic move aims to develop a comprehensive digital mental health platform, enhancing the precision and speed of clinical trials. MindMed will issue 81,497 multiple voting shares alongside a cash payment of approximately CAD$286,000. Dr. Daniel R. Karlin and Bradford Cross from HealthMode join MindMed's executive team as Chief Medical Officer and Chief Technology Officer, respectively.
MindMed has announced its acquisition of HealthMode, a digital medicine startup specializing in AI-enabled clinical research methodologies, valued at approximately CAD 41.25 million. The acquisition involves the issuance of 82,508 multiple voting shares and a cash payment of CAD 300,000. With this move, MindMed aims to expand its digital medicine division, 'Albert,' and enhance development of psychedelic-assisted therapies. The acquisition will also bring experienced executives, Dr. Daniel R. Karlin and Bradford Cross, to its leadership team, reinforcing MindMed's strategic focus on data-driven mental health solutions.
MindMed has initiated a study on its LSD neutralizer technology, aimed at reducing the effects of LSD during therapy sessions. Collaborating with University Hospital Basel's Liechti Lab, this Phase 1 trial examines the impact of ketanserin, a 5-HT2A receptor antagonist, to potentially serve as an emergency 'off-switch' for psychedelic-assisted therapies. Results are anticipated by year-end, with implications for improving patient safety and outcomes. MindMed aims to innovate its LSD-assisted therapies through Project Lucy, targeting anxiety disorders and enhancing therapeutic experiences.
MindMed (NEO: MMED, OTCQB: MMEDF) has announced a partnership with MindShift Compounds AG to develop next-generation psychedelic compounds. Initial compounds have been synthesized, and patent applications filed, paving the way for first-in-human Phase 1 clinical trials in Q1 2022. This collaboration aims to enhance MindMed's clinical pipeline, allowing for improved therapeutic properties and reduced regulatory risks. The partnership also strengthens MindMed's IP portfolio, focusing on both classic psychedelics and novel substances designed to optimize pharmacokinetics and safety profiles.
