MindMed Strengthens Board with Appointment of Two New Independent Directors
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced the appointment of Dr. Suzanne Bruhn and Dr. Roger Crystal as independent members of its Board of Directors, effective August 11, 2022. Their extensive experience in life sciences and product development is expected to aid MindMed in advancing its product candidates aimed at treating brain health disorders. Dr. Bruhn, formerly of Tiaki Therapeutics, and Dr. Crystal, CEO of Opiant Pharmaceuticals, bring significant expertise to the board. The company also announced Dr. Halperin Wernli's retirement from the board while continuing her role as President.
- Appointment of Dr. Bruhn and Dr. Crystal brings extensive life sciences experience to the board.
- Their expertise in R&D and commercialization is expected to enhance MindMed's product development efforts.
- The management change may provide fresh perspectives and strategic vision during critical product development stages.
- Dr. Halperin Wernli's retirement from the board may raise concerns about continuity in leadership.
NEW YORK, Aug. 12, 2022 /PRNewswire/ -- Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED), (the "Company"), a clinical stage biopharmaceutical company developing novel products to treat brain health disorders, today announced the appointment of Dr. Suzanne Bruhn and Dr. Roger Crystal, effective August 11, 2022 as independent members of its Board of Directors.
"We are pleased to welcome both Dr. Bruhn and Dr. Crystal to our Board. Their collective life sciences experience will be invaluable as we advance through several key product development inflection points in the coming year and we look forward to their immediate contributions to our Company's success," said Robert Barrow, Chief Executive Officer and Director of MindMed.
"We are delighted to welcome these two executives with broad experiences and strategic vision to the MindMed Board of Directors," said Carol Vallone, Chair of the Board of Directors of MindMed. "Their deep experience in development and commercialization will serve as a valuable resource to our directors and executive leadership team as we execute our strategy to advance our brain health disorder product candidates through clinical development and potential commercialization."
- Suzanne Bruhn, PhD is an accomplished life sciences executive and brings expertise in R&D, commercialization, and executive leadership to this role. Dr. Bruhn is the president and CEO, and Director of Tiaki Therapeutics, a privately held biotech company with a platform focused on identifying drug targets for neuroinflammation in neurodegenerative diseases. Before that, she served as president and CEO of Proclara Biosciences, a clinical-stage company pioneering a novel approach to treat disorders of protein misfolding including Alzheimer's and Parkinson's Disease, as well as orphan amyloidosis. Prior to that she served as president and CEO of Promedior, Inc., a clinical-stage immunotherapy company developing targeted therapeutics to treat fibrosis. Prior to Promedior, she spent 13 years at Shire Human Genetic Therapies (HGT), a division of Shire PLC, specializing in the development and commercialization of treatments for orphan diseases, where she held a series of positions of increasing responsibility before serving as senior vice president of strategic planning and program management. During her tenure at Shire HGT, Dr. Bruhn was responsible for establishing the program management function, driving strategic planning and portfolio management, and for global regulatory affairs. Prior to her time at Shire, Dr. Bruhn held various positions at Cytotherapeutics, Inc., a biotechnology company. Dr. Bruhn currently sits on the board of directors of Pliant Therapeutics, Travere Therapeutics and Vigil Neuroscience. Dr. Bruhn holds a Bachelor's degree in chemistry from Iowa State University, a Ph.D. in chemistry from the Massachusetts Institute of Technology and was a postdoctoral fellow in the Department of Human Genetics at Harvard Medical School.
- Roger Crystal, MD brings more than 15 years of experience as a healthcare business executive and clinician. He currently serves as President, Chief Executive Officer and Director for Opiant Pharmaceuticals (NASDAQ: OPNT) and is the lead inventor of the NARCAN® Nasal Spray, holding several issued patents around this product and led its development towards FDA approval. Mr. Crystal previously served as the Chief Business Officer for ImaginAb, a venture capital-backed biotechnology company, leading the company's efforts in immuno-oncology and managing its pharmaceutical company partnerships and licensing deals. He began his business career with roles at Goldman Sachs, A.T. Kearney, and GE Healthcare. He holds a BMedSci in Physiology and an MD from the University of Birmingham, UK and an MBA from the London Business School. Prior to his business career, Dr. Crystal worked for several years as a surgeon, specializing in ear, nose, and throat, head and neck surgery at leading institutions including Imperial College Healthcare, London and was awarded Membership of The Royal College of Surgeons of England (MRCS). He was also an Honorary Research Fellow at University College London and has authored a number of peer-reviewed scientific articles. Mr. Crystal serves on the Board of Directors of the Biotechnology Innovation Organization (BIO) and is also a member of the Young Presidents' Organization, Santa Monica Bay Chapter.
"With MindMed leading the effort to develop innovative solutions for brain health disorder patients coupled with its growth prospects makes this an exciting time to join the board of directors," stated Dr. Sue Bruhn. "I look forward to working with the Company leadership and board members to expand MindMed's opportunities for growth and help achieve their strategic objectives."
"MindMed is at a key inflection point as the Company executes its development strategy to bring forth therapeutics for those patients with the greatest need," stated Dr. Roger Crystal. "I am thrilled to have the opportunity to join the MindMed team as a board member and look forward to working with the directors and the executive team to maximize the potential of the Company's very promising product development pipeline."
In connection with the addition of Drs. Bruhn and Crystal, Dr. Halperin Wernli has retired from her position as a Board member but will continue to serve as President of the Company playing a key leadership role across all of the Company's organizational and research and development initiatives.
Carol Vallone, Chair of the Board of Directors of MindMed commented "On behalf of the Board, we thank Miri for her visionary leadership, valuable contributions, and service on the board as she continues in her role working with the executive team to lead the Company forward at this important inflection point, as we expand our critical efforts to focus on our most promising drug candidates, drive increased operating efficiency and successfully navigate the current macro environment. We have a full agenda for over the coming period, and I am pleased to have a proven leader of Miri's caliber to guide our research efforts as we invest for future growth.
Dr. Miri Halperin Wernli, Executive President of MindMed commented, "I look forward to continuing to work alongside my executive colleagues and the Board as we drive our ongoing development programs to critical clinical milestones over the coming year and strive to potentially bring much needed medicines to patients."
About MindMed
MindMed is a clinical stage biopharmaceutical company developing novel products to treat brain health disorders, with a particular focus on psychiatry, addiction, pain and neurology. 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 drug candidates, with and without acute perceptual effects, targeting the serotonin, dopamine and acetylcholine systems.
MindMed trades on NASDAQ under the symbol MNMD and on the NEO Exchange under the symbol MMED.
For Media: media@mindmed.co
For Investors: ir@mindmed.co
Cautionary Notes and Forward-looking Statements
This news release includes certain statements that constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws collectively "forward-looking statements". These include statements regarding the Company's intent, or the beliefs or current expectations of the Company's officers and directors. When used in this new release, words such as "will", "would", "subject to", "anticipates", "at which time", "will allow", "pursue" and similar expressions are intended to identify these forward-looking statements as well as phrases or statements that certain actions, events or results "may", "could", "would", "should", "occur" or "be achieved" or the negative connotation of such terms. As well, forward-looking statements may relate to the Company's future outlook and anticipated events, such as the expectation that the Common Shares will resume trading on July 4, 2022 on the NEO Exchange and July 5, 2022 on NASDAQ. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If the Company updates any one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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SOURCE Mind Medicine (MindMed) Inc.
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