MindMed Appoints Mark R. Sullivan as Chief Legal Officer and Corporate Secretary

Rhea-AI Summary

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) has appointed Mark R. Sullivan as Chief Legal Officer and Corporate Secretary, effective immediately. Sullivan brings extensive legal expertise in the life sciences sector, having previously served as General Counsel for Sesen Bio and MModal Inc. CEO Robert Barrow expressed optimism about Sullivan's contributions during a transformative phase for MindMed, which is advancing its clinical programs targeting brain health disorders. The company is focused on developing innovative treatments and improving patient outcomes. MindMed trades under the symbol MNMD on NASDAQ and MMED on the NEO Exchange.

Positive

• Appointment of Mark R. Sullivan as Chief Legal Officer enhances executive team with extensive life sciences legal expertise.
• Expected contributions from Sullivan may strengthen clinical program advancements.

Negative

• Potential continuity concerns due to executive changes.
• Experience gaps may arise from the transition period.

NEW YORK--(BUSINESS WIRE)-- Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED), (the “Company” or "MindMed"), a clinical-stage biopharmaceutical company developing novel product candidates to treat brain health disorders, today announced the appointment of Mark R. Sullivan, effective today, as Chief Legal Officer and Corporate Secretary.

“We are very excited to welcome Mark to our management team. Mark brings tremendous legal and public company life sciences expertise and will be a strong addition to our executive team. We believe Mark’s experience, insights and guidance will prove invaluable as MindMed progresses to the next stage of its evolution. I look forward to working closely with Mark during this transformative time for the company,” said Robert Barrow, Chief Executive Officer and Director of MindMed.

“This is an exciting time to be joining the Company at this pivotal juncture as it advances towards several key inflection points for its pipeline,” said Mr. Sullivan. “I look forward to working with the MindMed management team as the Company continues advancing its clinical programs and pursues commercial capabilities to fulfill its mission of improving the lives of the millions of individuals suffering from brain health disorders.”

Mr. Sullivan is an experienced public company General Counsel and Corporate Secretary, with extensive expertise and demonstrated success in the areas of SEC reporting, financing, corporate governance and compliance, mergers and acquisitions, intellectual property, litigation management and business development. Prior to joining the Company, Mr. Sullivan was the General Counsel and Corporate Secretary of Sesen Bio, a biopharmaceutical company (prior to its merger with Carisma Therapeutics) (NASDAQ: CARM), from August 2019 to April 2023. Before that, he served as a private consultant to numerous life sciences companies. Previously, he served as the General Counsel, Chief Compliance Officer and Secretary of MModal Inc. (Nasdaq: MODL), formerly MedQuist, Inc., a leading healthcare IT company, until it was taken private by One Equity Partners, the private investment arm of JP Morgan Chase & Co. Prior to joining MModal, Mr. Sullivan was in private practice with Pepper Hamilton LLP and Drinker Biddle & Reath LLP. Mr. Sullivan received a B.A. from the University of Pennsylvania and a J.D. from the Rutgers University School of Law.

About MindMed

MindMed is a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders. Our mission is to be the global leader in the development and delivery of treatments that unlock new opportunities to improve patient outcomes. We are developing a pipeline of innovative product candidates, with and without acute perceptual effects, targeting neurotransmitter pathways that play key roles in brain health disorders.

MindMed trades on NASDAQ under the symbol MNMD and on the Canadian NEO Exchange under the symbol MMED.

Forward-Looking Statements

Certain statements in this news release related to the Company constitute “forward-looking information” within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “will”, “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “potential” or “continue”, or the negative thereof or similar variations. Forward-looking information in this news release includes, but is not limited to, statements regarding anticipated upcoming milestones, trials and studies, results and timing of clinical trials. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including history of negative cash flows; limited operating history; incurrence of future losses; availability of additional capital; lack of product revenue; compliance with laws and regulations; difficulty associated with research and development; risks associated with clinical trials or studies; heightened regulatory scrutiny; early stage product development; clinical trial risks; regulatory approval processes; novelty of the psychedelic inspired medicines industry; as well as those risk factors discussed or referred to herein and the risks described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 under headings such as “Special Note Regarding Forward-Looking Statements,” and “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and other filings and furnishings made by the Company with the securities regulatory authorities in all provinces and territories of Canada which are available under the Company’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230413005290/en/

For Media & Investor Inquiries, please contact:

Maxim Jacobs, CFA

Vice President, Investor Relations and Corporate Communications

Mind Medicine (MindMed) Inc.

ir@mindmed.co

media@mindmed.co

Source: MindMed

FAQ

What recent management change occurred at Mind Medicine (MNMD)?

Mind Medicine appointed Mark R. Sullivan as Chief Legal Officer and Corporate Secretary, effective immediately.

What previous experience does Mark R. Sullivan have before joining MindMed?

Sullivan previously served as General Counsel for Sesen Bio and MModal Inc., bringing significant life sciences legal expertise.

How might Mark R. Sullivan's appointment impact MindMed's operations?

Sullivan's extensive legal background is expected to support the advancement of MindMed's clinical programs and corporate governance.

What is MindMed's focus in the biopharmaceutical industry?

MindMed is developing novel product candidates aimed at treating brain health disorders.

What stock symbols does MindMed operate under?

MindMed trades on NASDAQ under MNMD and on the NEO Exchange under MMED.