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Health Crisis-Induced Post-Traumatic Stress Disorder Creates Growing Need for Treatment Options

NEW YORK, Dec. 8, 2020 /PRNewswire/ — The health crisis has resulted in over one million deaths to date, but another emerging consequence of the global pandemic is affecting a much larger demographic. Aside from the growing death toll, the COVID-19 pandemic is sending mental illness cases skyrocketing, including an increase in post-traumatic stress disorder (PTSD). An estimated 70% of US adults experience at least one trauma in their lives that could lead to PTSD, yet effective treatments are few and far between. At present there are only five FDA-approved prescription drugs for the treatment of PTSD, including Pfizer’s (NYSE: PFE) Zoloft. There are also off label treatments like AstraZeneca’s (NASDAQ: AZN) Quetiapine. The problem is that these medications can be highly addictive and often come with a long list of side effects, fueling companies like Tonix Pharmaceuticals (NASDAQ: TNXP), Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF), and Mydecine Innovations Group Inc. (CSE: MYCO) (MYCOF) to develop effective alternatives.

Mydecine Innovations Group is an emerging biopharma and life sciences company focused on the research, development, and acceptance of alternative nature-sourced medicine to help combat the growing mental health crisis.

Pandemic Shines Light on Demand for Effective PTSD Treatments

The mental health of first responders became a major focus following the aftermath of the 9/11 terrorist attacks, shedding light on the risks of being exposed to emergency settings. Frontline workers are being tested to their limits once again due to COVID-19 and are at a high risk of developing PTSD.

While many biotech companies have switched gears to focus on potential vaccines and treatments for COVID-19, Mydecine Innovations Group is looking to help tackle the ongoing mental health crisis through its clinical trials and its own digital mental health platform. In mid-November, Mydecine announced the international expansion of its Phase 2A clinical trials of psilocybin-assisted psychotherapy to treat chronic PTSD in veterans and emergency medical services (EMS) personnel.

The research is taking place at Leiden University Medical Centre in the Netherlands, the University of Alberta, and the University of Western Ontario, with plans to add additional clinical sites in the USA, Europe, and Australia. The clinical trials will explore how the brain responds to psychedelics to develop a better understanding of the biological underpinnings of the experience. Following their completion, Mydecine Innovations Group will use the data from their studies to build on its knowledge to move forward with an application for FDA breakthrough designation.

Mydecine Innovations Group also recently launched the Mindleap app, the world’s first telehealth platform for psychedelic integration. The platform, which was launched on September 30 on iOS and Android, offers a powerful set of tools for managing mental healthcare. Mindleap allows users to connect virtually with specialists and enables mood, emotion, and habit tracking, while having the ability to schedule appointments, and purchase mental health services.

Before the new year, Mydecine Innovations Group will be expanding Mindleap by adding mental health specialists with different aptitudes and a digital therapeutics marketplace that offers comprehensive mental health programs that focus on addiction, meditation, psychedelic integration, holistic wellness, and drug harm reduction.

Psychedelic medicine biotech company Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF) is another company making headway in its clinical studies to evaluate potential treatments to help patients with anxiety, ADHD, cluster headaches, and substance abuse. MindMed is also in the process of establishing a digital medical division known as Albert, an integrated technical platform and comprehensive toolset aimed at delivering psychedelic-inspired medicines and experiential therapies combined with digital therapeutics.

Tonix Pharmaceuticals (NASDAQ: TNXP) is another biopharmaceutical company looking to help combat mental illness, although the company hit a speedbump in its Phase III RECOVERY study of Tonmya for PTSD earlier this year. In February, Tonix decided to stop enrollment in the study due to inadequate separation from placebo. Luckily, the company continued forward and has recently outlined a new statistical method to analyze future PTSD drug studies.

Until these alternative treatments come to market, consumers are continuing to turn to Pfizer’s (NYSE: PFE) Zoloft to combat things like depression, anxiety, and PTSD. In fact, Zoloft is one of the most commonly prescribed antidepressants in the US and in other countries, which led to a shortage of the drug during the height of the pandemic.

Another treatment for PTSD and other mental illnesses, including schizophrenia and bipolar disorder, is the powerful antipsychotic quetiapine, which was developed by AstraZeneca (NASDAQ: AZN) and is sold under the name Seroquel. The drug has become wildly popular for several off label uses, including insomnia caused by PTSD; however, the adverse effects of the drug came into the spotlight through data obtained from the FDA’s Adverse Event Reporting System in 2017.

Of course, Seroquel isn’t the only prescription antidepressant that causes adverse effects. Prescription drugs for depression, anxiety, and PTSD all come with a list of common and severe side effects, which range from nausea and dizziness to loss of consciousness and suicidal ideation.

The market is clearly in need of safe and effective alternatives for treating mental health, creating a large opportunity for companies like Mydecine Innovations Group.

For more information on Mydecine Innovations Group (CSE: MYCO) (MYCOF), please visit this link.

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MindMed Files Final Prospectus In Connection With Bought Deal Equity Financing

Financing To Support The Development Of MindMed’s Digital Medicine Division And Psychedelic Inspired Medicines And Experiential Therapies

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Dec. 8, 2020 /CNW/ — Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF) (DE: MMQ) (“MindMed” or the “Company“) is pleased to announce that further to its previously announced offering (the “Offering“), it has filed a final short form prospectus (the “Prospectus“) with the securities commissions or similar authorities in each province of Canada, other than Québec. Pursuant to the underwriting agreement among the Company, Canaccord Genuity Corp. (the “Lead Underwriter“) and Eight Capital (together with the Lead Underwriter, the “Underwriters“), the Underwriters have agreed to purchase 15,800,000 units of the Company (the “Units“), on a “bought deal” basis, at a price per Unit of $1.90 (the “Issue Price“) for gross proceeds of $30,020,000.

The Company has also granted the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $4,503,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $34,523,000.

Each Unit will be comprised of one subordinate voting share of the Company (each, a “Subordinate Voting Share“) and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant shall entitle the holder thereof to purchase one Subordinate Voting Share at an exercise price of $2.45, for a period of 36 months following the closing of the Offering. If, at any time following the closing of the Offering, the daily volume weighted average trading price of the Subordinate Voting Shares on the NEO Exchange Inc. is greater than $4.00 per Subordinate Voting Share for the preceding 10 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is at least 30 days following the date of such written notice.

The Company intends to use the net proceeds of the Offering for investment in its digital medicine division, additional microdosing research and development as well as general working capital and corporate purposes, including to further fund its ongoing programs.

The Offering is scheduled to close on or about December 11, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

The Prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each province of Canada, other than Québec and may be subject to amendment. A copy of the Prospectus can be obtained under the Company’s corporate profile on SEDAR at www.sedar.com.

About MindMed

MindMed is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and experiential 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 team brings extensive biopharmaceutical experience to the Company’s groundbreaking approach to developing the next generation of psychedelic inspired medicines and experiential therapies.

MindMed trades on the Canadian NEO Exchange under the symbol MMED. MindMed is also traded in the United States under the symbol MMEDF and in Germany under the symbol MMQ. For more information: http://www.mindmed.co/

Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are 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 “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Offering, regulatory approvals and the intended use of proceeds of the Offering. There are numerous risks and uncertainties that could cause actual results and MindMed’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. 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 to update these forward-looking statements.

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MindMed Files Preliminary Prospectus In Connection With Bought Deal Equity Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Nov. 30, 2020 /CNW/ — Mind Medicine (MindMed) Inc. (NEO: MMED), (OTCQB: MMEDF) (“MindMed” or the “Company“) is pleased to announce that further to its previously announced offering (the “Offering“) on November 25, 2020, it has filed a preliminary short form prospectus (the “Preliminary Prospectus“) with the securities commissions or similar authorities in each province of Canada, other than Québec. Pursuant to the underwriting agreement among the Company, Canaccord Genuity Corp. (the “Lead Underwriter“) and Eight Capital (together with the Lead Underwriter, the “Underwriters“), the Underwriters have agreed to purchase 15,800,000 units of the Company (the “Units“), on a “bought deal” basis, at a price per Unit of CAD$1.90 (the “Issue Price“) for gross proceeds of CAD$30,020,000.

The Company has also granted the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional CAD$4,503,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be approximately CAD$34,523,000.

Each Unit will be comprised of one subordinate voting share of the Company (a “Subordinate Voting Share“) and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant shall entitle the holder thereof to purchase one Subordinate Voting Share at an exercise price of CAD$2.45, for a period of 36 months following the closing of the Offering. If, at any time following the closing of the Offering, the daily volume weighted average trading price of the Subordinate Voting Shares on the NEO Exchange Inc. is greater than $4.00 per Subordinate Voting Share for the preceding 10 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is at least 30 days following the date of such written notice.

The Company intends to use the net proceeds of the Offering for investment in its digital medicine division, additional microdosing research and development as well as general working capital and corporate purposes, including to further fund its ongoing programs.

The Offering is scheduled to close on or about December 8, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Neo Exchange Inc. and the applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

The Preliminary Prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each province of Canada, other than Québec. The Preliminary Prospectus is still subject to completion or amendment. A copy of the Preliminary Prospectus can be obtained under the Company’s corporate profile on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final short form prospectus has been issued.

About MindMed

MindMed is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The Company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to the Company’s groundbreaking approach to developing the next generation of psychedelic inspired medicines and therapies.

MindMed trades on the Canadian exchange NEO under the symbol MMED. MindMed is also traded in the United States under the symbol MMEDF and in Germany under the symbol MMQ. For more information: http://www.mindmed.co/.

Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are 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 “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Offering, regulatory approvals and the intended use of proceeds of the Offering. There are numerous risks and uncertainties that could cause actual results and MindMed’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. 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 to update these forward-looking statements.

Media Contact: mindmed@crosscutstrategies.com

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MindMed Announces $25 Million Bought Deal Public Offering

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

NEW YORK, Nov. 25, 2020 /CNW/ – Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF) (“MindMed” or the “Company”), the leading neuro-pharmaceutical company for psychedelic inspired medicines, is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. (the “Lead Underwriter”) pursuant to which the Lead Underwriter has agreed, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 13,158,000 units of the Company (the “Units”) at a price of C$1.90 per Unit (the “Issue Price”) for aggregate gross proceeds to the Company of C$25,000,200 (the “Offering”).

Each Unit shall consist of one subordinate voting share (each a “Subordinate Voting Share”) and one-half of one Subordinate Voting Share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant shall be exercisable to acquire one Subordinate Voting Share at an exercise price of C$2.45 per Subordinate Voting Share for a period of 3 years from the closing of the Offering, subject to a Warrant acceleration right exercisable by the Company if the daily volume weighted average trading price of the Company’s Subordinate Voting Shares on the NEO Exchange is greater than C$4.00 per Subordinate Voting Share for the preceding 20 consecutive trading days.

The Company has granted the Underwriters an option (the “Over-Allotment Option”) to purchase up to an additional 1,973,700 Units at the Issue Price, exercisable at any time, for a period of 30 days after and including the Closing Date, which would result in additional proceeds of C$3,750,030. The Over-Allotment Option is exercisable to acquire Units, Subordinate Voting Shares, and/or Warrants (or any combination thereof) at the discretion of the Lead Underwriter.

The Underwriters are to be paid a cash commission equal to 6% of the gross proceeds of the Offering and to receive Unit purchase warrants of the Company (the “Underwriters’ Warrants”) equal to 6% of the number of Units sold under the Offering, with each Underwriters’ Warrant being exercisable to acquire one Unit at the Issue Price for a period of 36 months from the closing of the Offering.

The Units will be offered by way of a short form prospectus to be filed in all provinces of Canada except Quebec. The Offering is expected to close on December 15, 2020 (the “Closing Date”), and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the NEO Exchange and the applicable securities regulatory authorities. The Company will use best efforts to obtain the necessary approvals to list the Subordinate Voting Shares and the Warrant Shares on the NEO Exchange.

The net proceeds of the Offering will be used for investment in the digital medicine division, additional microdosing R&D as well as general working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About MindMed

MindMed is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to the company’s groundbreaking approach to developing the next-generation of psychedelic inspired medicines and therapies.

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

MindMed Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties relating to future events and performance of Mind Medicine (MindMed) Inc. (“MindMed”), and actual events or results may differ materially from these forward-looking statements. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, MindMed’s and its collaborators’ ability to continue to conduct research and clinical programs, MindMed’s ability to manage its supply chain, product sales of products marketed by MindMed and/or its collaborators (collectively, ” Products”), and the global economy; the nature, timing, and possible success and therapeutic applications of Products and Product candidates and research and clinical programs now underway or planned; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Product candidates and new indications for Products; unforeseen safety issues resulting from the administration of Products and Product candidates in patients, including serious complications or side effects in connection with the use of MindMed’s Products and product candidates in clinical trials; determinations by regulatory and administrative governmental authorities which may delay or restrict MindMed’s ability to continue to develop or commercialize Products; ongoing regulatory obligations and oversight impacting Products, research and clinical programs, and business, including those relating to patient privacy; uncertainty of market acceptance and commercial success of Products and Product candidates and the impact of studies on the commercial success of Products and Product candidates; the availability and extent of reimbursement of Products from third-party payers, including private payer healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; competing drugs and product candidates that may be superior to Products and Product candidates; the extent to which the results from the research and development programs conducted by MindMed or its collaborators may be replicated in other studies and lead to therapeutic applications; the ability of MindMed to manufacture and manage supply chains for multiple products and product candidates; the ability of MindMed’s collaborators, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labelling, distribution, and other steps related to MindMed’s Products and product candidates; unanticipated expenses; the costs of developing, producing, and selling products; the ability of MindMed to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license or collaboration agreement to be cancelled or terminated without any further product success; and risks associated with intellectual property of other parties and pending or future litigation relating thereto, other litigation and other proceedings and government investigations relating to MindMed and its operations, the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on MindMed’s business, prospects, operating results, and financial condition. Any forward-looking statements are made based on management’s current beliefs and judgment. MindMed does not undertake any obligation to update publicly any forward-looking statement.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act)

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MindMed Upsizes Previously Announced Bought Deal Public Offering

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

NEW YORK, Nov. 25, 2020 /CNW/ – Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF) (“MindMed” or the “Company”), the leading neuro-pharmaceutical company for psychedelic inspired medicines, is pleased to announce that it has agreed to increase the size of its previously announced bought deal financing led by Canaccord Genuity Corp. (the “Lead Underwriter”). The Lead Underwriter has agreed, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 15,800,000 units of the Company (the “Units”) at a price of C$1.90 per Unit (the “Issue Price”) for aggregate gross proceeds to the Company of C$30,020,000 (the “Offering”).

Each Unit shall consist of one subordinate voting share (each a “Subordinate Voting Share”) and one-half of one Subordinate Voting Share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant shall be exercisable to acquire one Subordinate Voting Share at an exercise price of C$2.45 per Subordinate Voting Share for a period of 3 years from the closing of the Offering, subject to a Warrant acceleration right exercisable by the Company if the daily volume weighted average trading price of the Company’s Subordinate Voting Shares on the NEO Exchange is greater than C$4.00 per Subordinate Voting Share for the preceding 10 consecutive trading days.

The Company has granted the Underwriters an option (the “Over-Allotment Option”) to purchase up to an additional 2,370,000 Units at the Issue Price, exercisable at any time, for a period of 30 days after and including the Closing Date, which would result in additional proceeds of C$4,503,000. The Over-Allotment Option is exercisable to acquire Units, Subordinate Voting Shares, and/or Warrants (or any combination thereof) at the discretion of the Lead Underwriter.

The Underwriters are to be paid a cash commission equal to 6% of the gross proceeds of the Offering and to receive Unit purchase warrants of the Company (the “Underwriters’ Warrants”) equal to 6% of the number of Units sold under the Offering, with each Underwriters’ Warrant being exercisable to acquire one Unit at the Issue Price for a period of 36 months from the closing of the Offering.

The Units will be offered by way of a short form prospectus to be filed in all provinces of Canada except Quebec. The Offering is expected to close on December 15, 2020 (the “Closing Date”), and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the NEO Exchange and the applicable securities regulatory authorities. The Company will use best efforts to obtain the necessary approvals to list the Subordinate Voting Shares and the Warrant Shares on the NEO Exchange.

The net proceeds of the Offering will be used for investment in the digital medicine division, additional microdosing R&D as well as general working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About MindMed

MindMed is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to the company’s groundbreaking approach to developing the next-generation of psychedelic inspired medicines and therapies.

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

MindMed Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties relating to future events and performance of Mind Medicine (MindMed) Inc. (“MindMed”), and actual events or results may differ materially from these forward-looking statements. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, MindMed’s and its collaborators’ ability to continue to conduct research and clinical programs, MindMed’s ability to manage its supply chain, product sales of products marketed by MindMed and/or its collaborators (collectively, ” Products”), and the global economy; the nature, timing, and possible success and therapeutic applications of Products and Product candidates and research and clinical programs now underway or planned; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Product candidates and new indications for Products; unforeseen safety issues resulting from the administration of Products and Product candidates in patients, including serious complications or side effects in connection with the use of MindMed’s Products and product candidates in clinical trials; determinations by regulatory and administrative governmental authorities which may delay or restrict MindMed’s ability to continue to develop or commercialize Products; ongoing regulatory obligations and oversight impacting Products, research and clinical programs, and business, including those relating to patient privacy; uncertainty of market acceptance and commercial success of Products and Product candidates and the impact of studies on the commercial success of Products and Product candidates; the availability and extent of reimbursement of Products from third-party payers, including private payer healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; competing drugs and product candidates that may be superior to Products and Product candidates; the extent to which the results from the research and development programs conducted by MindMed or its collaborators may be replicated in other studies and lead to therapeutic applications; the ability of MindMed to manufacture and manage supply chains for multiple products and product candidates; the ability of MindMed’s collaborators, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labelling, distribution, and other steps related to MindMed’s Products and product candidates; unanticipated expenses; the costs of developing, producing, and selling products; the ability of MindMed to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license or collaboration agreement to be cancelled or terminated without any further product success; and risks associated with intellectual property of other parties and pending or future litigation relating thereto, other litigation and other proceedings and government investigations relating to MindMed and its operations, the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on MindMed’s business, prospects, operating results, and financial condition. Any forward-looking statements are made based on management’s current beliefs and judgment. MindMed does not undertake any obligation to update publicly any forward-looking statement.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act).

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MindMed to Launch Albert, A Digital Medicine Division for Psychedelic Medicines

NEW YORK, Nov. 24, 2020 /PRNewswire/ — MindMed (NEO: MMED) (OTCQB: MMEDF) (DE: MMQ), a leading psychedelic medicine biotech company, is establishing a digital medicine division known as Albert. Albert is in the process of assembling and recruiting a leading team of technologists, therapists, and clinical drug development experts to help the company research, develop and build an integrated technical platform and comprehensive toolset aimed at delivering psychedelic inspired medicines and experiential therapies combined with digital therapeutics.

Digital therapeutics are defined as evidence-based therapeutic interventions for patients to prevent, manage, or treat a mental disorder or disease. Pairing digital tools, such as wearables and the latest in machine learning, with psychedelic assisted therapies, can give healthcare providers the ability to optimize and better understand the patient journey and therapeutic outcomes from pre-care through to after-care.

MindMed Co-Founder and Co-CEO J.R. Rahn said, “We believe that the next frontier in psychedelic medicine will be to quantify with great precision psychedelic assisted therapy’s impact on patient populations. This new division will not only build apps, technologies and other platforms to help the patient, but hopefully also make the medical community comfortable with this novel treatment paradigm for mental health and addiction by measuring the potential value to their patient populations and ultimate savings to insurers.”

Recent advancements in digital therapeutics have the potential to enable a real time assessment of efficacy in both clinical trials and real-world settings leading to a more robust understanding of the value of a treatment and long-term impact on patient outcomes.

MindMed’s clinical team under the leadership of President and Head of Clinical Dr. Miri Halperin Wernli is designing an experimental clinical trial that pairs non-hallucinogenic psychedelic inspired medicines such as microdoses of LSD with digital therapeutics to track, engage and influence patient behavior. MindMed intends to announce full details of this clinical trial once MindMed and its scientific collaborators finalize the protocol design for submission to relevant health regulators.

Dr. Miri Halperin Wernli said, “This is a perfect moment for digital medicine solutions to come to patients to help support behavioral change, measure and enhance psychiatric care and health outcomes. Our intention is to use digital therapeutics alongside pharmaceutical medicines to maximize one another’s value to the patient and for the healthcare system. The two classes of medicine, along with psychotherapy and various forms of cognitive behavioral therapies, must be regarded as complementary to enhance outcomes, which will create new opportunities to improve quality of care and patient outcomes and drive behavior change at scale.”

About MindMed

MindMed is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to the company’s groundbreaking approach to developing the next-generation of psychedelic inspired medicines and therapies.

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

MindMed Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties relating to future events and performance of Mind Medicine (MindMed) Inc. (“MindMed”), and actual events or results may differ materially from these forward-looking statements. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, MindMed’s and its collaborators’ ability to continue to conduct research and clinical programs, MindMed’s ability to manage its supply chain, product sales of products marketed by MindMed and/or its collaborators (collectively, ” Products”), and the global economy; the nature, timing, and possible success and therapeutic applications of Products and Product candidates and research and clinical programs now underway or planned; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Product candidates and new indications for Products; unforeseen safety issues resulting from the administration of Products and Product candidates in patients, including serious complications or side effects in connection with the use of MindMed’s Products and product candidates in clinical trials; determinations by regulatory and administrative governmental authorities which may delay or restrict MindMed’s ability to continue to develop or commercialize Products; ongoing regulatory obligations and oversight impacting Products, research and clinical programs, and business, including those relating to patient privacy; uncertainty of market acceptance and commercial success of Products and Product candidates and the impact of studies on the commercial success of Products and Product candidates; the availability and extent of reimbursement of Products from third-party payers, including private payer healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; competing drugs and product candidates that may be superior to Products and Product candidates; the extent to which the results from the research and development programs conducted by MindMed or its collaborators may be replicated in other studies and lead to therapeutic applications; the ability of MindMed to manufacture and manage supply chains for multiple products and product candidates; the ability of MindMed’s collaborators, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labelling, distribution, and other steps related to MindMed’s Products and product candidates; unanticipated expenses; the costs of developing, producing, and selling products; the ability of MindMed to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license or collaboration agreement to be cancelled or terminated without any further product success; and risks associated with intellectual property of other parties and pending or future litigation relating thereto, other litigation and other proceedings and government investigations relating to MindMed and its operations, the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on MindMed’s business, prospects, operating results, and financial condition. Any forward-looking statements are made based on management’s current beliefs and judgment. MindMed does not undertake any obligation to update publicly any forward-looking statement.

Media Contact: mindmed@crosscutstrategies.com

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MindMed Receives Approval of Protocol Design to Evaluate Microdoses of LSD For Adult ADHD In Phase 2a Clinical Trial from Swiss and Dutch Health Authorities

Project Lucy Submits Pre-IND Briefing Package to the FDA; Agrees Q1 Interim Analysis of Swiss Phase 2a Trial of LSD Assisted Therapy for Anxiety Disorders

NEW YORK and BASEL, Switzerland, Nov. 16, 2020 /PRNewswire/ — MindMed (NEO: MMED), (OTCQB: MMEDF), (DE: MMQ), a leading psychedelic medicine biotech company, has received a positive response on its protocol design for a Phase 2a clinical trial evaluating microdoses of LSD in the treatment of adult ADHD from the Swiss and Dutch health authorities. MindMed has also successfully submitted a pre-IND briefing package to the FDA for its Project Lucy, a potential Phase 2b Efficacy Trial evaluating LSD Assisted Therapy in anxiety disorders. In addition, the company has now reached an agreement with University Hospital Basel Liechti Lab to conduct an interim analysis anticipated in Q1 2021 for its Phase 2a clinical trial of LSD assisted therapy for anxiety disorders currently ongoing in Switzerland.

Microdose LSD Positive Regulatory Response

MindMed’s Phase 2a Proof of Concept study evaluating microdoses of LSD for the treatment of Adult ADHD has successfully reached an agreement on the study protocol with both the Swiss and Dutch health authorities. MindMed is working with our site coordinators in Switzerland and the Netherlands on our patient recruitment strategy and will provide updates on recruitment progress in due course. MindMed anticipates dosing to begin in patients in the second half of next year at both of our sites in Basel, Switzerland and Maastricht, Netherlands. MindMed’s clinical and technical operation teams are in the process of producing and preparing the GMP LSD material necessary to begin dosing for the Phase 2a commercial drug trial.

J.R. Rahn, MindMed co-founder and co-CEO said: “We are very pleased with the positive response from the Swiss and Dutch regulators on our protocol design evaluating microdoses of LSD for Adult ADHD in our planned Phase 2a trial. Our team has been working diligently to prepare this trial and we are very excited to begin recruitment and plan on dosing ADHD patients in the second half of 2021.”

MindMed’s microdosing division is now evaluating the potential for additional microdosing technologies as part of our R&D efforts and growing its portfolio of microdose-related clinical trials.

Submission of Pre-IND Briefing Package to the FDA

MindMed’s clinical and regulatory team has recently completed a pre-IND briefing package and submitted it last week to the FDA in preparation for a pre-IND call with the FDA in December. Data from a recently completed Phase 1 dose range finding study by the Liechti Lab together with multiple other Phase 1 studies conducted both in patients and healthy volunteers over the past 10 years helped define the dosing regimen proposed by MindMed to the FDA for the proposed Phase 2b clinical trial.

These efforts at FDA and our clinical strategy for LSD are being led by MindMed President Dr. Miri Halperin Wernli and her team of drug development experts and scientific collaborators. Dr. Halperin Wernli added: “Our team worked very diligently throughout the third quarter to prepare the pre-IND briefing package, drawing on support from many of our scientific collaborators and domain experts. We hope to open the IND for this Phase 2b trial and to begin treating patients in 2021.”

Swiss Phase 2a Study Interim Analysis

MindMed was able to agree with the Liechti Lab and receive approval from the ethics committee at the University Hospital Basel to undertake an interim readout and analysis of the Phase 2a study using LSD assisted therapy for anxiety disorders being conducted in Switzerland by Dr. Matthias Liechti and Dr. Peter Gasser. MindMed in partnership with the Liechti Lab will conduct this interim analysis of the Phase 2a clinical trial data in Q1 2021. The study has been ongoing for close to four years and MindMed eagerly awaits the analysis and results from the interim readout of the study.

MindMed maintains an exclusive license to this Phase 2 study as part of our license agreement with the University Hospital Basel. More info on the trial can be found here:

https://clinicaltrials.gov/ct2/show/NCT03153579?term=Basel+lsd&draw=2&rank=7

About MindMed
MindMed is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to the company’s groundbreaking approach to developing the next-generation of psychedelic inspired medicines and therapies.

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

MindMed Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties relating to future events and performance of Mind Medicine (MindMed) Inc. (“MindMed”), and actual events or results may differ materially from these forward-looking statements. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, MindMed’s and its collaborators’ ability to continue to conduct research and clinical programs, MindMed’s ability to manage its supply chain, product sales of products marketed by MindMed and/or its collaborators (collectively, ” Products”), and the global economy; the nature, timing, and possible success and therapeutic applications of Products and Product candidates and research and clinical programs now underway or planned; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Product candidates and new indications for Products; unforeseen safety issues resulting from the administration of Products and Product candidates in patients, including serious complications or side effects in connection with the use of MindMed’s Products and product candidates in clinical trials; determinations by regulatory and administrative governmental authorities which may delay or restrict MindMed’s ability to continue to develop or commercialize Products; ongoing regulatory obligations and oversight impacting Products, research and clinical programs, and business, including those relating to patient privacy; uncertainty of market acceptance and commercial success of Products and Product candidates and the impact of studies on the commercial success of Products and Product candidates; the availability and extent of reimbursement of Products from third-party payers, including private payer healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; competing drugs and product candidates that may be superior to Products and Product candidates; the extent to which the results from the research and development programs conducted by MindMed or its collaborators may be replicated in other studies and lead to therapeutic applications; the ability of MindMed to manufacture and manage supply chains for multiple products and product candidates; the ability of MindMed’s collaborators, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labelling, distribution, and other steps related to MindMed’s Products and product candidates; unanticipated expenses; the costs of developing, producing, and selling products; the ability of MindMed to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license or collaboration agreement to be cancelled or terminated without any further product success; and risks associated with intellectual property of other parties and pending or future litigation relating thereto, other litigation and other proceedings and government investigations relating to MindMed and its operations, the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on MindMed’s business, prospects, operating results, and financial condition. Any forward-looking statements are made based on management’s current beliefs and judgment. MindMed does not undertake any obligation to update publicly any forward-looking statement.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act)

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MindMed Announces Q3 2020 Financial Results; Cash Reserves Total $37.8 million USD ($50.1 million CAD) Post October Financing

TORONTO, Nov 13, 2020 /PRNewswire/ — MindMed (NEO: MMED) (OTCQB: MMEDF), a leading psychedelic medicine biotech company, has announced its third quarter financial results for the three and nine months ended September 30, 2020.

 

Complete financial statements along with related management discussion and analysis can be found in the System for Electronic Document Analysis and Retrieval, the electronic filing system for the disclosure documents of issuers across Canada at www.SEDAR.com.

 

Financial Highlights (in USD)

Total assets as of September 30, 2020 were $23.7 million, including $18.2 million in cash.

Net and comprehensive loss of $8.6 million for the three months ended Sep 30,2020, and $21.4 million for the nine months ended September 30, 2020.

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MindMed Announces the Completion of Phase 1 Study Measuring Dosing Effects of LSD

NEW YORK, Nov. 2, 2020 /PRNewswire/ — MindMed (NEO: MMED,OTCQB: MMEDF), the leading psychedelic medicine biotech company in partnership with University Hospital Basel’s Liechti Lab announces the completion and publication of a Phase 1 study on the acute dose dependent effects of LSD. The completed Phase 1 study will help MindMed in dose-finding and the planning of future Phase 2 clinical trials of LSD in patients with anxiety disorders and other medical conditions.

Specifically, the Phase 1 study measured LSD dose-dependently induced subjective responses starting at microdoses (25 ug) up to experiential doses (200 ug). Maximal good drug effects were reached at a 100 ug dose. However, an experiential dose of 200 ug LSD was shown to induce greater ego dissolution than a lesser 100 ug dose. Ego-dissolution is thought to be one of the key therapeutic potentials of the psychedelic experience and psychedelic assisted therapy process.

MindMed’s Co-Founder and Co-CEO, J.R. Rahn, commented on the results, “We see this now completed study as an important stepping stone with highly relevant data to support Project Lucy as the team identifies optimal dose levels of LSD to test in the intended Phase 2b trial of an anxiety disorder. As COVID-19 continues to compound society’s prevalence of anxiety disorders globally, MindMed is pushing ahead with full vigor on the planning and design of Project Lucy.”

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The study was published in Neuropsychopharmacology, which is an international scientific journal and the official publication of the American College of Neuropsychopharmacology (ACNP)

The publication can be found here : https://www.nature.com/articles/s41386-020-00883-6#Sec20

Link to original article here: https://www.prnewswire.com/news-releases/mindmed-announces-the-completion-of-phase-1-study-measuring-dosing-effects-of-lsd-301164518.html

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MindMed Closes Upsized Financing of CAD $28.75m With Strong Institutional Demand for Psychedelic Medicines

Post-Financing Cash Reserves of CAD $50.1m (USD $37.8m) to Enable Continued Advancement of Diverse and Growing Clinical Trial Pipeline of Psychedelics

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Oct. 30, 2020 /CNW/ — Mind Medicine (MindMed) Inc. (NEO: MMED, OTCQB: MMEDF) (“MindMed” or the “Company“) is pleased to announce that it has closed its previously announced bought deal short form prospectus offering, including the exercise in full of the underwriter’s over-allotment option (the “Offering“). In connection with the Offering, the Company issued 27,381,500 units of the Company (the “Units“) at a price per Unit of $1.05 (the “Issue Price“) for gross proceeds of $28,750,575. Canaccord Genuity Corp. acted as sole bookrunner and underwriter in the Offering.

Each Unit comprises one subordinate voting share of the Company (a “Subordinate Voting Share“) and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant entitles the holder thereof to purchase one Subordinate Voting Share at an exercise price of $1.40 until October 30, 2023. The Warrants will be listed for trading on the facilities of the NEO Exchange Inc. (the “NEO“) under the symbol “MMED.WS”, subject to the final approval of the NEO.

MindMed Co-Founder & Co-CEO, J.R. Rahn said “The strong institutional investor interest for this oversubscribed financing demonstrates the vast appetite for companies pursuing clinical trials of psychedelic medicines with the FDA and other regulatory bodies. With our sights set on a NASDAQ up-listing, this fresh funding will further assist the MindMed team in our mission to build the most diverse development pipeline of psychedelic inspired medicines and experiential therapies for patients.”

Post-financing the Company now has cash reserves of CAD $50.1m (USD $37.8m) to enable continued progress of its clinical trial pipeline of psychedelic inspired medicines and experiential therapies.

The Company intends to use the net proceeds of the Offering for investment in its research and clinical development initiatives, including its 18-MC addiction treatment program derived from the psychedelic ibogaine, lysergic acid diethylamide (LSD) microdose program for Adult ADHD, Project Lucy focused on LSD experiential therapy for anxiety disorders, University Hospital Basel Liechti Lab research and development collaboration, its partnership with NYU Langone Health for a Psychedelic Medicine Research Training Program, and for general working capital and corporate development purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About MindMed

MindMed is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and experiential 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 team brings extensive biopharmaceutical experience to the Company’s groundbreaking approach to developing the next generation of psychedelic inspired medicines and experiential therapies.

MindMed trades on the Canadian NEO Exchange under the symbol MMED. MindMed is also traded in the United Statesunder the symbol MMEDF and in Germany under the symbol MMQ. For more information: http://www.mindmed.co/

Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are 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 “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the intended use of proceeds of the Offering, the listing of the Warrants on the NEO,  the Company’s cash reserves and the effects thereof, the Company’s proposed NASDAQ up-listing, and the Company’s intended future business plans and operations, including the development of psychedelic inspired medicines and experiential therapies. There are numerous risks and uncertainties that could cause actual results and MindMed’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. 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 to update these forward-looking statements.

Media Contact: mindmed@crosscutstrategies.com

SOURCE Mind Medicine (MindMed) Inc.

 

Related Links

https://www.mindmed.co/