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The Chopra Foundation and MindMed Enter Into Letter of Intent to Partner on the Future of Psychedelic Medicines & Mental Wellbeing

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (NEO: MMED) (DE: MMQ) (“MindMed” or the “Company”), a leading clinical stage psychedelic medicine company, today announced it has entered into a letter of intent to partner with The Chopra Foundation to educate and build public awareness around the use of psychedelic medicines to treat mental illness, remove outdated stigmas, and ultimately research mental wellbeing approaches that can be used in psychedelic related psychotherapy.

Deepak Chopra pictured with MindMed CEO, JR Rahn during MindMed's Nasdaq Listing
Deepak Chopra pictured with MindMed CEO, JR Rahn during MindMed’s Nasdaq Listing

The two organizations plan to design and conduct research together surrounding altered states of consciousness, psychedelic psychotherapy, and their overall impact on mental wellbeing. Beyond psychedelics, as part of this research, MindMed intends to explore ways for therapists to integrate evidence-based digital therapeutics and digital measurement technology into their routine practice. In addition, MindMed and the Chopra Foundation plan to advance research that targets understanding the role that the mind-body connection, metabolic health, psychedelics, and deeper understandings of consciousness can play into maintenance of overall wellbeing and mental health.

“Deepak is a thought leader on consciousness, integrative medicine, and wellness. We hope that this letter of intent will allow The Chopra Foundation and MindMed to pioneer new modalities that go beyond the treatment of mental illness to also focus on our overall well being, both mental and physical” said J.R. Rahn, CEO and Co-founder of MindMed. “Ultimately, we believe psychedelics can act as catalysts in a person’s journey toward their best health, but it is also important that we come to deeply understand consciousness and altered states of consciousness as we advance the growing field of psychedelic medicine through rigorous research.”

May, as Mental Health Awareness month, is also a time to remember that there has not been a transformative breakthrough in mental healthcare in the United States in decades. America is facing a mental health crisis and is in dire need of innovative treatment solutions. One in five American adults endure the pain of mental illness each year, while less than half of those in need receive treatment. MindMed is aiming to solve the broad problems of anxiety, depression, substance use disorders, and pain syndromes through the careful study and clinical application of psychedelic medicines and digital therapeutics.

“The Chopra Foundation is dedicated to improving the health and well-being of humanity. Mental illness and psychedelics for far too long have been associated with unnecessary stigmas. It’s time we shift our thinking and change the conversation in order to positively address the needs of mental health and wellbeing.” stated Dr. Deepak Chopra, founder of The Chopra Foundation.

Chopra and Rahn will also be speaking together on the role of psychedelic medicines in treating mental health and wellbeing at the Never Alone Summit on Friday, May 21st.

About The Chopra Foundation

The Chopra Foundation is a 501 (c) (3) organization (#36-4793898) dedicated to improving health and well-being, cultivating spiritual knowledge, expanding consciousness, and promoting world peace to all members of the human family. For more information, go to www.choprafoundation.org.

About MindMed

MindMed is a clinical-stage psychedelic medicine biotech company that seeks to discover, develop and deploy 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.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ.

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 include statements regarding the letter of intent, the intention to educate and build public awareness around the use of psychedelic medicines, the plan to design and conduct research, the intention to explore integration of digital therapeutics and digital biomarkers, plan to advance research, and the Company’s intended future business plans and operations, including the development of psychedelic inspired medicines and experiential therapies. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. 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 the letter of intent is non-binding and there is a risk that the Company will not be able to negotiate a definitive agreement with The Chopra Foundation; risk associated with early-stage research programs; 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 under the headings “Risk Factors” in the Company’s filings 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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

Media Contact: mindmed@150bond.com

SOURCE Mind Medicine (MindMed) Inc.

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MindMed Announces the Approval of Mescaline Study

MindMed (Nasdaq: MNMD) (NEO: MMED) (DE: MMQ), a leading clinical stage psychedelic medicine company, announced today the approval by the local Swiss ethics committee of the first clinical trial evaluating the acute effects of different doses of mescaline and the role of the serotonin 5-HT2A receptor in mescaline-induced altered states of consciousness (MDR-Study). The study will be conducted at the University Hospital Basel Liechti Lab, in Basel, Switzerland, and is planned to start this month.

Mescaline is a classic serotonergic hallucinogen, similar to LSD psilocybin, with a long, non-regulated history of spiritual use. However, modern regulated studies using validated psychometric tools and directly comparing different doses of mescaline including placebo are missing. We believe this phase 1 study will provide such data and an important basis for further research in the therapeutic potential of mescaline.

Dr. Matthias Liechti, PhD & M.D., professor for clinical pharmacology and internal medicine at the University of Basel stated, “Mescaline is an archetypical psychedelic with surprisingly little contemporary scientific information on its pharmacology and effects in humans. This study will, we believe, provide the first modern research data on mescaline regarding dosing and mechanism of action in humans.”

The serotonin 2A (5-HT2A) receptor is thought to primarily mediate acute alterations of consciousness induced by LSD and psilocybin. Mescaline also binds to the 5-HT2A receptor with lower potency and higher activity compared to LSD. The present study will also explore the mechanism of action of mescaline in humans and specifically whether the acute psychoactive effects of mescaline in humans are mediated by 5-HT2A receptors.

Compared with LSD and psilocybin, relatively high doses of 300-800 mg mescaline are needed to produce a prototypical hallucinogenic experience. Whether there are differences in the effects of mescaline compared with those of LSD or psilocybin will also be determined in additional studies.

The present study will primarily help to characterize the subjective effects of different doses of mescaline using modern psychometric outcome measures. It will also explore the role of the 5-HT2A receptor in mescaline-induced altered states of consciousness using the 5-HT2A receptor blocker ketanserin prior to the administration of a high dose of mescaline.

The study will use a double-blind, placebo-controlled, cross-over design with six different dosing conditions. The treatment order will be randomized and counter-balanced.

Dr. Miri Halperin Wernli, President of MindMed, added, “At present there are no modern studies that we are aware of using validated psychometric outcome measures that directly compare different doses of mescaline. With our rigorous clinical trial, we aim to characterize the subjective effects of different doses of mescaline and provide a description of the acute mescaline effects to help clarify the involvement of the 5-HT2A receptor in mescaline-induced altered states of consciousness in healthy people. We believe the drug will have a powerful effect on enhancing the communication between different parts of the brain in unique ways that are otherwise inaccessible to the conscious mind. As we move forward, further studies on patient populations will be targeted to help us distinguish the relationship between the drug-induced experience and its integration into the psychotherapeutic process. The hope is that this will then allow a better understanding of the behavioral changes and the unique effect of these powerful drugs on neuroplasticity.”

About MindMed
MindMed is a clinical-stage 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, mescaline and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to MindMed’s approach to developing the next generation of psychedelic inspired medicines and therapies.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ.

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 statements regarding the timing of the start of the mescaline study; whether the study will provide the basis for further research in the therapeutic potential of mescaline, including whether that will include sufficient data on mescaline dosing and its mechanism of action in humans; the study’s success in exploring the role of the 5-HT2A receptor in mescaline-induced altered states of consciousness; the study’s ability to characterize the subjective effects of different doses of mescaline and provide a description of the acute mescaline effects; the study’s ability to help clarify the involvement of the 5-HT2A receptor in mescaline-induced altered states of consciousness in healthy people; the Company’s belief that the drug will have an effect on enhancing the communication between different parts of the brain in unique ways that are otherwise inaccessible to the conscious mind; whether further studies on patient populations will occur; and whether the study will allow a better understanding of the behavioral changes and the unique effect of mescaline on neuroplasticity. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. 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 under the headings “Risk Factors” in the Company’s filings 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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

Media Contact: mindmed@150bond.com

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MindMed Announces Launch of Collaboration with Nextage Therapeutics’ Brain Targeting Liposome System

MindMed (NASDAQ: MNMD, NEO: MMED, DE: MMQ), a leading clinical stage psychedelic medicine company, and Nextage Therapeutics (TASE: NXTG), an Israeli innovative drug development company, announce the execution of a Memorandum of Understanding (the “MOU”) regarding the launch of an exclusive collaborative development program to optimize the delivery of certain psychedelic drug candidates, leveraging Nextage’s proprietary Brain Targeting Liposome System (BTLS) delivery technology, for which it has an exclusive license.  MindMed and Nextage will initially collaborate to optimize the delivery of drug products based on noribogaine, and ultimately other ibogaine derivatives, and will share development costs and intellectual property arising from the collaboration.

The BTLS technology is an innovative drug delivery system designed to allow the targeted delivery of active pharmaceutical ingredients (APIs) through the Blood Brain Barrier. BTLS is designed to reduce exposure to the active material outside of the brain, reducing potential risks, intended to substantially lower API concentrations and increasing efficacy.

Using this state-of-the-art drug delivery technology, MindMed is seeking to capitalize on the opportunity to mitigate the serious side effects that can make some orally administered psychedelics poor drug candidates.  There is anecdotal evidence which suggests the psychedelic substance ibogaine can be effective in the treatment of opioid addiction, but orally administered ibogaine and noribogaine present unacceptable safety risks due to their torsadogenic effects at high systemic concentrations.

Utilizing Nextage’s proprietary brain-targeted liposome system, the collaboration will seek to develop a proprietary formulation aimed at minimizing the systemic exposure of ibogaine derivatives while maintaining effective concentrations in the brain, with the objective of significantly improving the risk-benefit profile of their delivery.

Nextage CEO, Mr. Abraham Dreazen, said “Our innovative delivery technology has potential to revolutionize brain and CNS treatment.  Psychedelic inspired drugs could be a breakthrough in many brain-related disorders and working together with an industry pioneer such as MindMed may open the door for life-changing treatments for patients globally. Nextage is pioneering these emerging technologies in Israel and we look forward to working with MindMed and forming a long and successful collaboration.”

Based on initial Proof of Concept work, MindMed and Nextage will work towards a final collaborative development agreement and a determination if such potential formulations of drug candidates should be further progressed into clinical trials.

Pursuant to the MOU, the parties will jointly pilot the development of a drug product based on noribogaine (the “Pilot Program”) with the parties sharing the development costs equally.  At the same time that they are advancing the Pilot Program, MindMed and Nextage will negotiate a definitive written agreement to facilitate long-term collaboration on the development and commercialization of any contemplated conjugation of agreed pharmaceutical ingredients with BTLS.  Nextage also granted to MindMed an exclusive, non-transferable, sublicensable license to all intellectual property, and the use of all new data, study results, know-how, arising from the Pilot Program in order to make submissions to those regulators whose approval is required in order to market a product.

MindMed and Nextage shall each retain all rights to any intellectual property and inventions owned by them prior to the commencement of the Pilot Program, and to any of their rights unrelated to the Pilot Program.  MindMed and Nextage shall jointly own all new data, study results, and know-how developed from the Pilot Program. If the two companies fail to agree on the further development or application of any jointly owned know-how, whether patentable or not, within 12 months of initiating the Pilot Program, then each shall be entitled, subject to some conditions, to pursue independently the further development and commercialization of such know-how.

MindMed Executive President Dr. Miri Halperin Wernli said “Our collaboration with Nextage builds on the commitment of both companies to discover new ways by which we can shake adaptive mechanisms which normally constrain our perception, emotions and self-references. By joining forces and applying Nextage’s innovative BTLS technology which allows for a targeted delivery of substances through the Blood Brain Barrier we aim to find better ways to ultimately free the brain to experience new and unusual patterns of connectivity.”

About MindMed
MindMed is a clinical-stage 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 MindMed’s approach to developing the next generation of psychedelic inspired medicines and therapies.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ.

About Nextage
Nextage Therapeutics is a pharmaceutical development company specializing in the development of innovative cannabis and psychedelic related substances for pharmaceutical purposes. Nextage is a subsidiary of Nextar Chempharma Solutions, Israel’s leading full service contract development and manufacturing company for pharmaceuticals and chemical medical devices. Nextage’s proprietary BTLS technology allows for a targeted delivery of substances through the Blood-Brain-Barrier.  Nextage is led by CEO Mr. Abraham Dreazenand Chairman Mr. Israel Makov, the former CEO of Teva Pharmaceuticals. In the psychedelic field Nextage operates via its dedicated subsidiary IMIO Life.

Nextage trades on the Israeli stock exchange under the symbol NXTG

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 include statements regarding the ability of BTLS to optimize the delivery of ibogaine derivatives and other psychedelic drug candidates; BTLS’s ability to reduce potential risks, substantially lower API concentrations and increase efficacy; its ability to mitigate the side effects of orally administered psychedelics; whether ibogaine can be effective in the treatment of opioid addiction; BTLS’s ability to minimize the systemic exposure of ibogaine derivatives; its ability to maintain effective concentrations in the brain; whether the collaboration will significantly improve the risk-benefit profile of the delivery of ibogaine derivatives to the brain; whether BTLS will revolutionize brain and CNS treatment; whether psychedelic inspired drugs could be a breakthrough in many brain-related disorders; whether the collaboration will result in life-changing treatments for patients; whether a final collaborative development agreement will be executed; whether any potential formulations of drug candidates should be further progressed into clinical trials; whether the parties will successfully negotiate a definitive written agreement to facilitate long-term collaboration on the development and commercialization of any contemplated conjugation of agreed pharmaceutical ingredients with BTLS; whether the companies can discover new ways to shake adaptive mechanisms which normally constrain perceptions, emotions and self-references of people; whether they will find better ways to ultimately free the brain to experience new and unusual patterns of connectivity; and the Company’s intended future business plans and operations, including the development of psychedelic inspired medicines.  Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. 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 under the headings “Risk Factors” in the Company’s filings 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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

Media Contact: mindmed@150bond.com

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MindMed and Liechti Lab in Basel Switzerland Publish First Pharmacogenetic Data on LSD to Help Guide Personalized Dosing

MindMed (Nasdaq: MNMD) (NEO: MMED) (DE: MMQ), a leading psychedelic medicine biotech company, announced today the publication of the first pharmacogenetic data on LSD to help personalize dosing. The study results from a pooled secondary analysis of four Phase 1 studies that each used a randomized, double-blind, placebo-controlled, crossover design and were conducted at the University Hospital Basel Liechti Lab, in Basel, Switzerland.

The results of this study indicate that pharmacogenetic testing prior to LSD-assisted treatment may inform LSD dose selection at the individual patient level.

Dr. Matthias Liechti said, “This is the first data on the pharmacogenetics of LSD. The results indicate that a test of the metabolic function of a patient by CYP2D6 phenotyping and genotyping can be used to adjust the dose of LSD. Such information is important for the further development of LSD into a medication and could ultimately help to personalize patient treatment.”

Key findings:
In vitro studies indicate that metabolic cytochrome P450 isoforms, particularly CYP2D6, CYP1A2, and CYP2C9, are involved in LSD metabolism, but clinical studies of the effects of variations of these isoforms had not been conducted.

This study examined the influence of genetic polymorphisms of important CYP enzymes on the pharmacokinetics and acute psychological effects of LSD in healthy subjects. Common genetic variants of CYPs including CYP2D6, CYP1A2, CYP2C9, CYP2C19, and CYP2B6 were identified in 81 healthy subjects pooled from four randomized placebo-controlled double-blind Phase 1 studies.

Genetically determined CYP2D6 functionality significantly influenced the pharmacokinetics of LSD. Specifically, individuals with no functional CYP2D6, known as poor metabolizers, had longer LSD half-lives and approximately 75% higher parent drug and main metabolite, 2-oxo-3-hydroxy-LSD, area under the curve blood plasma concentrations compared with carriers of functional CYP2D6. Additionally, non-functional CYP2D6 metabolizers exhibited increased acute psychological effects and longer subjective effect durations compared with functional CYP2D6 metabolizers.

No effect on the pharmacokinetics or acute effects of LSD were observed with other CYP variations. These results indicate that specific genetic polymorphisms of CYP2D6 significantly influence the pharmacokinetic and subjective effects of LSD.

The study “Genetic influence of CYP2D6 on pharmacokinetics and acute subjective effects of LSD in a pooled analysis” was published in the Nature Scientific Reports and the full-text can be accessed from the publishers at: https://www.nature.com/articles/s41598-021-90343-y.

MindMed Executive President, Dr. Miri Halperin Wernli said, “The psychedelic experience can be conceptualized as the facilitated transforming encounter between one’s fears and longings with the universe and its network of living processes. This work with Professor Liechti, indicating that genetic polymorphisms of CYP2D6 significantly influence the pharmacokinetic and subjective effects of LSD, is an illustration that biological and psychological transformation processes may be deeply interwoven. When LSD is the chosen key to open an opportunity for psycho-transformation and growth, individual parameters such as one’s own metabolization and bio-transformation rhythm have to be carefully understood and taken into consideration in order to allow the transformative effect to happen in the most powerful and safe manner.”

About MindMed
MindMed is a clinical-stage 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 MindMed’s approach to developing the next generation of psychedelic inspired medicines and therapies.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ.

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 include statements regarding the genetic influence of CYP2D6 on pharmacokinetics, the acute subjective effects of LSD, findings from the University Hospital Basel Liechti Lab’s Phase 1 studies, the metabolic function of patients, the development of LSD into a medication, the potential effect of variations of CYP2D6, CYP1A2, and CYP2C9,  and the Company’s intended future business plans and operations, including the development of psychedelic inspired medicines and experiential therapies. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. 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 under the headings “Risk Factors” in the Company’s filings with  the securities regulatory authorities in all provinces and territories of Canada and 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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

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MindMed Announces Chief Executive Officer Transition

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED), (DE: MMQ) (the “Company”), a leading clinical-stage pharmaceutical company and pioneer in the field of psychedelic inspired medicines, announces that J.R. Rahn, the Company’s co-founder and chief executive officer, is stepping down as chief executive officer and a director, and that its chief development officer, Robert Barrow, will assume the position of chief executive officer with immediate effect. The Company will also initiate a comprehensive search for a chief executive officer, in which Mr. Barrow will be a candidate, and Mr. Rahn will advise the Company during its leadership transition. The transition of the Company’s leadership team will enable the Company to pursue aggressively its clinical development programs and development of its companion innovative digital technologies.

In reflecting on his tenure, Mr. Rahn noted “under my leadership the Company did a remarkable job of getting off to its unprecedented start, and building itself into a leader in the psychedelic medicine industry.”

During Mr. Rahn’s tenure as chief executive officer, he helped to assemble a diverse clinical pipeline, establish world class research partnerships and was an instrumental part of the leadership team as MindMed went public on the NEO Exchange in Canada last year and recently listed on the Nasdaq Stock Market. Under Mr. Rahn’s leadership, the Company has raised over US$204 million (net of costs), making it one of the most well-capitalized companies in the psychedelic medicine industry. Mr. Rahn led the hiring of the Company’s world-class drug development and technology team capable of bringing psychedelic inspired medicines to market through a regulatory pathway worldwide.

Mr. Rahn said, “Since starting MindMed, it has been our goal to progress psychedelic medicines to one day help heal patients with mental illnesses. Our work to date and ability to raise capital has taken us leaps and bounds closer to that vision. This chief executive officer transition is a natural progression for MindMed as the Company heads into later stage clinical trials. I am thankful for the incredible team of scientists, doctors, innovators and investors who continue to support MindMed. This all could not have been possible without you.”

Robert Barrow is an accomplished pharmaceutical executive with over a decade of experience leading organizations and drug development programs in a variety of disease areas. Mr. Barrow is a recognized leader in the psychedelic industry, in which he has played a central role in the design and execution of a number of successful regulatory and drug development strategies.

Mr. Barrow previously served as director of Drug Development & Discovery at Usona Institute, where he led preclinical, clinical and regulatory development efforts for Usona’s psychedelic drug candidates and was responsible for obtaining Breakthrough Therapy Designation for psilocybin in the treatment of Major Depressive Disorder. Prior to his tenure at Usona, Mr. Barrow served as chief operating officer and a director of Olatec Therapeutics where he oversaw the execution of numerous early and late-stage clinical trials in the fields of analgesics, rheumatology, immunology and cardiovascular disease. Mr. Barrow has also served as a technical and strategic advisor to numerous large and small pharmaceutical companies developing novel central nervous system therapeutics and has been an invited speaker at multiple industry and scientific presentations. Mr. Barrow holds a Master’s degree in Pharmacology from The Ohio State University and a Bachelor of Science degree from Wake Forest University, where he graduated summa cum laude.

Mr. Barrow added, “We would not be here without J.R.’s vision and perseverance to establish us as a pioneer in this fast evolving new industry. I am incredibly excited to step into this new role and honored by the confidence placed in me by J.R., my colleagues and the board of directors. Having worked closely with J.R. and the entire organization over the past half-year, I am confident that this transition will be seamless. I look forward to continuing the execution of our core mission and strategies. We remain committed to continuing to advance MindMed as a leader in the psychedelic medicine industry and as a central nervous system-focused pharmaceutical company more broadly.”

This progression of management will bolster MindMed’s ability to execute on its drug development and digital medicine strategies with an executive team united behind Mr. Barrow, including Dr. Miri Halperin Wernli, PhD as executive president and director; Dr. Daniel R. Karlin, MD, MA as chief medical officer; Bradford Cross as chief technology officer; and Dave Guebert as chief financial officer.

As part of the chief executive officer transition, the Company has agreed to issue Mr. Rahn 1.5 million subordinate voting shares, which issuance is subject to applicable regulatory approvals

About MindMed

MindMed is a clinical-stage psychedelic medicine biotech company that seeks to discover, develop and deploy 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 MindMed’s approach to developing the next generation of psychedelic-inspired medicines and therapies.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ.

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 statements regarding the Company’s future strategies and business plans, the Company’s development programs and clinical trials, and the Company’s executive team and consulting arrangements. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. 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 the Company’s 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 under the headings “Risk Factors” in the Company’s filings 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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

Media Contact: mindmed@150bond.com

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MindMed Appoints MGH Psychiatrist-in-Chief Dr. Maurizio Fava to Scientific Advisory Board

MindMed (Nasdaq: MNMD) (NEO: MMED) (DE: MMQ) (the “Company”), a leading biotech company developing psychedelic-inspired therapies, has announced the addition of Dr. Maurizio Fava, a world-leading expert in psychiatry and psychiatric clinical trials from Massachusetts General Hospital and the Harvard Medical School to the Company’s Scientific Advisory Board.

Dr. Fava obtained his MD from the University of Padova School of Medicine where he completed residency training in endocrinology. Thereafter, he completed residency training in psychiatry at Massachusetts General Hospital where he founded and was Director of the hospital’s Depression Clinical and Research Program (DCRP) from 1990 to 2014. In 2007, Dr. Fava founded the Massachusetts General Hospital’s Psychiatry Clinical Trials Network and Institute (CTNI), the first academic contract research organization specialized in planning and coordination of multi-center clinical trials in psychiatry; he currently acts as their Executive Director.

Under Dr. Fava’s direction, the DCRP became one of the most highly regarded depression programs in the United States, a model for academic programs that link, in a bi-directional fashion, clinical and research work. Dr. Fava has been successful in obtaining more than a total of $120,000,000 of funding as principal or co-principal investigator from both the National Institutes of Health and other sources. His prominence in the field is reflected in his role as the co-principal investigator of the National Institute of Mental Health (NIMH) Sequenced Treatment Alternatives to Relieve Depression (STAR*D), the largest research study ever conducted in the area of depression, and of the RAPID Network, the NIMH-funded series of studies of novel, rapidly-acting antidepressant therapies.

Dr. Fava is a world leader in the field of depression. He has authored or co-authored more than 800 original articles published in medical journals with international circulation, edited eight books, and published more than 50 chapters and over 600 abstracts.

MindMed CEO Robert Barrow said, “We are incredibly excited to welcome Dr. Fava as the newest member of our Scientific Advisory Board.  His wisdom and experience as a thought leader in psychiatry are unparalleled and his insights and guidance will be invaluable. I look forward to working closely with Dr. Fava and the entire Scientific Advisory Board as we advance our mission of delivering psychedelic-inspired therapies to patients in need.”

Dr. Fava stated, “I am delighted to join MindMed’s Scientific Advisory Board. Massachusetts General Hospital has recently launched a new Center for the Neuroscience of Psychedelics to better understand the drugs’ effects on the brain, their mechanisms, and potential for therapeutic purposes. MindMed’s focus on psychedelic medicine is certainly aligned with the scientific interests of our department.”

MindMed’s Scientific Advisory Board is composed of a diverse group of members with expertise in psychiatry, neuroscience, and clinical development. The board leverages decades of deep knowledge in biotech and psychiatry to guide MindMed’s development programs. Members represent institutions such as Johns Hopkins, NYU Langone Health, Duke University, National Institutes of Health, Stanford University, and Albany Medical College.

Scientific Advisory Board Chair, Dr. Robert Malenka added, “I am very excited that Dr. Fava has joined our Scientific Advisory Board.  His extensive experience in designing rigorous and sophisticated clinical trials will accelerate MindMed’s efforts to initiate efficient clinical trials that provide clear answers about the therapeutic effectiveness of MindMed’s innovative treatment regimens.”

About MindMed

MindMed is a clinical-stage biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental health. 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 MindMed’s approach of developing the next generation of psychedelic inspired medicines and therapies.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ. For more information: www.mindmed.co

MindMed 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 include statements regarding the expertise of the Scientific Advisory Board and ability to leverage the knowledge of the Scientific Advisory Board, the ability to develop and the potential success of using technology to improve health outcomes, the pursuit of strategic initiatives, and the Company’s intended future business plans and operations, including the development of psychedelic inspired medicines and experiential therapies. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. 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 under the headings “Risk Factors” in the Company’s filings with  the securities regulatory authorities in all of the provinces and territories of Canada and 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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

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MindMed Announces Partnership with Datavant, a Leading Health Data Connectivity Company

MindMed (Nasdaq: MNMD, NEO: MMED, DE: MMQ), a leading biotech company developing psychedelic-inspired therapies, and Datavant, Inc. (“Datavant“), a leader in helping healthcare organizations safely connect their data, announced a partnership through which MindMed will use Datavant’s privacy-protecting technology to link MindMed’s clinical trial data to external data from both clinical and real-world sources.  MindMed plans to use Datavant’s linking technology across various stages of the drug lifecycle including discovery, clinical development, and commercialization.

Data linking will allow MindMed to create broad and detailed datasets to better understand the real-world treatment, service utilization, and healthcare experiences of patients with psychiatric and substance use disorders. This data, and the deeper understanding of both the relevant illness and the paths of care through which patients proceed, will help enhance MindMed’s clinical trial planning, execution, and preparation for commercialization of its novel molecules.

“Data fragmentation today prevents organizations from understanding how innovative therapies can be used to improve patient outcomes,” said Travis May, Chief Executive Officer of Datavant. “The ability to safely connect data from across the healthcare ecosystem to understand the safety, efficacy, and access to a variety of therapeutic interventions creates the opportunity to greatly improve outcomes in psychiatry and addiction medicine.”

“While MindMed pursues its mission of radically transforming the paradigm of care for treating psychiatric and substance use disorders, the goal of this initiative is to accelerate efforts to build better psychedelic-inspired medicines and adjacent therapeutic technology”, said Robert Barrow, Chief Executive Officer of MindMed. Daniel R. Karlin, MD, MA and Chief Medical Officer of MindMed, added, “In order to build a deeper understanding of the illnesses we seek to treat, we need to better integrate data on the efficacy and efficiency of existing care models as well as patient and provider-related outcomes. Clinical trials capture a small window of time in a patient’s overall experience of their illness. These trials, while essential for drug development, tell us nothing about patients’ access to, and use of, various treatment modalities through time. Truly understanding the patient journey by knowing about all relevant encounters and events that lie outside of the limited window of clinical trials will enable us to better develop and deploy therapeutics that offer new hope for people who are suffering.”

About MindMed

MindMed is a clinical-stage 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 MindMed’s approach to developing the next generation of psychedelic inspired medicines and therapies.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO Exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ. For more information: www.mindmed.co

About Datavant

Datavant’s mission is to connect the world’s health data to improve patient outcomes. Datavant works to reduce the friction of data sharing across the healthcare industry by building technology that protects the privacy of patients while supporting the linkage of de-identified patient records across datasets. Datavant is headquartered in San Francisco. Learn more about Datavant at www.datavant.com.

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 include, but are not limited to, statements regarding the successful implementation of Datavant’s technology, use of data link technology and ability to create meaningful datasets, interpretation of datasets and ability to enhance MindMed’s clinical trials and commercialization of its products.  Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. 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 under the headings “Risk Factors” in the Company’s filings 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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

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MindMed Chosen to Participate in Cowen’s Psychedelics & Novel Mechanisms in Neuropsychiatry Virtual Summit

MindMed (NASDAQ: MNMD, NEO: MMED, DE: MMQ), a leading biotech company developing psychedelic-inspired therapies, is pleased to announce that MindMed’s Chief Executive Officer, Robert Barrow, will be leading a roundtable discussion at Cowen’s Psychedelics & Novel Mechanisms in Neuropsychiatry Virtual Summit.

The event is set to take place on July 13th, 2021 from 4:15-5:00pm ET. A live audio webcast of the presentation will be available in the “Investors” section on MindMed’s website. A replay of the webcast will be available for 30 days following the event. For more information, please visit mindmed.co/investor-resources/.

About MindMed

MindMed is a clinical-stage 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 MindMed’s approach to developing the next generation of psychedelic inspired medicines and therapies.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO Exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ. For more information: www.mindmed.co

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 include, but are not limited to, Cowen’s Psychedelics & Novel Mechanisms in Neuropsychiatry Virtual Summit and MindMed’s participation in the Virtual Summit.  Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. 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 under the headings “Risk Factors” in the Company’s filings 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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

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MindMed Announces Initiation of Phase 1 Clinical Trial of Intravenous DMT

MindMed (NASDAQ: MNMD) (NEO: MMED) (DE: MMQ), a leading biotech company developing psychedelic-inspired therapies, is pleased to announce the start of a Phase 1 clinical trial to assess the safety, pharmacokinetics and pharmacodynamics of DMT, a naturally occurring psychedelic substance and an active ingredient in ayahuasca. The outcome of this Phase 1 clinical trial is expected to facilitate potential future Phase 2 clinical trials of DMT in patients. The clinical trial is being conducted as an investigator-initiated study by Dr. Matthias Liechti as part of MindMed’s ongoing collaboration with the UHB Liechti Lab. The Phase 1 clinical trial has received all necessary regulatory approvals in Switzerland and subject enrollment has been initiated.

MindMed is exploring DMT as a potential drug candidate given its potential advantages as a short-acting psychedelic. MindMed plans to study an intravenous administration method [during its Phase 1 clinical trial] that would induce a stable and prolonged DMT experience. The intravenous administration method may also allow greater control of the patient experience by enabling an acute termination of the psychoactive effects of DMT. DMT administration has a rapid onset and offset compared to the longer-acting psychedelic substances like psilocybin and LSD.

Dr. Miri Halperin Wernli, Executive President of MindMed, said, “We are very excited to start this study with Professor Matthias Liechti and University Hospital Basel. Currently no study has validly determined the elimination half-life of DMT or other pharmacokinetic parameters and our study will provide valuable information for future research on DMT as a tool to examine alterations of the mind. MindMed is exploring a number of psychedelic compounds as part of our mission to discover, develop and deploy psychedelic-inspired medicines and therapies to address mental illness and addiction. Our data driven approach drives our strategic choices for the development of both classical psychedelics and the very promising next generation novel chemical entities.”

The goal of the clinical trial is to assess the safety, tolerability and dose-response of DMT, including an assessment of the difference between infusion conditions. The Phase 1 clinical trial will include 30 healthy subjects in a randomized 5-period crossover, double-blind, placebo-controlled design.

About MindMed

MindMed is a clinical-stage 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 MindMed’s approach to developing the next generation of psychedelic inspired medicines and therapies.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO Exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ. For more information: www.mindmed.co

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 include, but are not limited to, statements regarding the start of MindMed’s Phase 1 clinical trial of DMT, the successful outcome of the Phase 1 clinical trial, the ability to initiate a Phase 2 clinical trial of DMT, regulatory approvals, the effects of DMT, subject enrollment and the administration method of DMT. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. 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 under the headings “Risk Factors” in the Company’s filings 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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

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MindMed Joins Digital Medicine Society to Improve Health Outcomes and Equity Using Technology

MindMed (Nasdaq: MNMD, NEO: MMED, DE: MMQ), a leading biotech company developing psychedelic-inspired therapies, announced today that it will participate in and financially support the Digital Medicine Society’s (DiMe) Digital Health Measurement Collaborative Community (DATAcc), an effort to develop best practices and streamline the medical field’s approaches to measuring health using digital technologies.

DATAcc comprises leaders from across the US government, non-profit, and private sectors, including the US Food and Drug Administration (FDA) , the US Department of Health and Human Services, healthcare systems, medical technology companies, patient advocates, biopharma, and policy organizations. The collaborative will use interdisciplinary expertise, data, and cases to address complex medical device challenges.

DATAcc members, including Dr. Dan Karlin, Chief Medical Officer of MindMed, will meet for the first time today, marking the launch of this collaborative community dedicated to realizing the full potential of digital health measurement as a powerful new tool to drive improvements in health outcomes, health economics, and health equity. Activities will be action-oriented, ranging from the development of best practices, models, and frameworks to conducting pilots, and will be driven by the diverse membership of DATAcc.

Ensuring access to effective and safe technologies requires a multitude of perspectives and expertise to address, including those of regulators. As stated in DiMe’s press release dated May 25, 2021, “it is important to empower stakeholders to ensure equitable access to high quality, safe, and effective digital health technologies,” says Anindita Saha, Assistant Director of the Digital Health Center of Excellence in the Center for Devices and Radiological Health, who will be the FDA liaison to DATAcc. “DATAcc can advance efforts to build the science and evidence generation for all people by keeping health outcomes and health equity front and center.”

Dr. Daniel Karlin, Chief Medical Officer of MindMed, added, “We are eager to advance the science of digital medicine through cooperation and collaboration. Historically, medicine has relied on infrequent, subjective, physician oriented measurements, which are largely carried out in the clinical setting. This is especially true in psychiatry. The reality is that illnesses, and the burdens they place on the patient experience, have far more to do with how folks feel and function when they’re in their home environments and not in the clinic. We see digital medicine and real world measurement as being core to better understanding the conditions we are studying for treatment with psychedelic-inspired medicines, and demonstrating that our medicines are effective in helping treat individual suffering while reducing the myriad costs of these illnesses through enabling patient journeys toward recovery.”

Together, on a continuing basis, the collaborative community will explore six priority areas that include data governance, data rights, digital inclusion, reimbursement, commercial models, and the standardization of elements of digital sensing products and the data they produce.

About MindMed

MindMed is a clinical-stage biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental health. 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.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO Exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ. For more information: www.mindmed.co

MindMed 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 include statements regarding MindMed’s involvement with DiMe and DATAcc, the ability to develop digital technologies, participation of various members in DATAcc and the success of creating digital technologies. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. 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 under the headings “Risk Factors” in the Company’s filings with  the securities regulatory authorities in all of the provinces and territories of Canada and 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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

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