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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.

arrow

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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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MindMed Appoints Dr. Robert Dworkin to Scientific Advisory Board

MindMed (Nasdaq: MNMD, NEO: MMED, DE: MMQ), a leading biotech company developing psychedelic-inspired therapies, announces the addition of Robert H. Dworkin, Ph.D. to its Scientific Advisory Board.

Dr. Dworkin has spent over 35 years conducting clinical research on pain. He is currently Professor of Anesthesiology and Perioperative Medicine, Neurology, and Psychiatry, and Professor in the Center for Health + Technology, at the University of Rochester School of Medicine and Dentistry.

He holds additional roles as the Director of the Analgesic, Anesthetic, and Addiction Clinical Trial Translations, Innovations, Opportunities, and Networks (ACTTION) public-private partnership with the U.S. Food and Drug Administration (FDA); Special Government Employee of the FDA Center for Drug Evaluation and Research; and Associate Editor of Pain and a member of the Editorial Boards of Canadian Journal of Pain and Journal of Pain. Among his many awards, Dr. Dworkin received the American Pain Society’s Wilbert E. Fordyce Clinical Investigator Award in 2005 and John and Emma Bonica Public Service Award in 2014, the American Academy of Neurology’s Mitchell B. Max Award for Neuropathic Pain in 2015, and the International Association for the Study of Pain’s John D. Loeser Award in 2020.

Dr. Dworkin received his B.A. from the University of Pennsylvania and his Ph.D. from Harvard University, and he has served as a consultant to numerous pharmaceutical and medical device companies in the development and evaluation of analgesic treatments. He has been the principal investigator for a large number of clinical trials funded by government and industry, which have examined treatments for various types of pain. The primary focus of Dr. Dworkin’s current research involves the identification of factors that optimize clinical trials by improving researchers’ ability to measure pain and to better detect treatment effects.

MindMed CEO Robert Barrow said, “As MindMed advances therapies under our pain franchise, Dr. Dworkin’s specific expertise in pain will provide invaluable guidance to the design and execution of our critical path clinical trials. Further, Dr. Dworkin’s general and extensive experience with complex clinical trials will complement our other scientific advisors to ensure that we are making the best possible choices to efficiently and effectively advance our portfolio of chemical assets.”

Dr. Dworkin added, “Existing medications for pain have modest efficacy and are often poorly tolerated or accompanied by safety risks. The results of studies conducted over the past few decades suggest that psychedelics have considerable promise as novel pain treatments. I am therefore delighted to work with MindMed in evaluating the potential of psychedelics to be a game-changing approach to alleviating pain.”

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, NIH, Stanford University, and Albany Medical College.

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 is not limited to, statements regarding the ability of the Company to make the best possible choices to efficiently and effectively advance its portfolio of chemical assets, whether psychedelics demonstrate any promise as novel pain treatments, and the potential of psychedelics to be a game-changing approach to alleviating pain. 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 2021 Q2 Financial Results; Cash Balance of $157 USD Million ($195 CAD Million) to Execute on Diverse Clinical Pipeline

MindMed (Nasdaq: MNMD), (NEO: MMED), (DE: MMQ), a leading biotech company developing psychedelic-inspired therapies, has announced its quarterly financial results for the quarter ended June 30, 2021.

Q2 2021 Financial Highlights (in USD)

  • Total assets as of June 30, 2021 were $194 million, including $157 million in cash
  • Net Cash Used in Operating Activities of $12 million for the quarter ended June 30, 2021
  • Net and comprehensive loss of $36 million for the quarter ended June 30, 2021

Q2 2021 Business Highlights

  • MindMed launched Project Angie, targeting the treatment of pain with psychedelics
  • MindMed launched a collaboration with Nextage Therapeutics to explore applications of psychedelics in a brain targeting liposome delivery system
  • MindMed and the Liechti Lab published the first pharmacogenetic data on LSD
  • MindMed appointed Dr. Sarah Vinson to its Board of Directors
  • MindMed appointed Drs. Maurizio Fava and Peter Bergethon to its Scientific Advisory Board
  • MindMed completed a transition of its Chief Executive Officer

Management Update & Earnings Call

Management will host an earnings call to review Q2 financials and business developments on Monday, August 16th, 2021 at 4:00 pm EDT.  Details are below:

https://mindmed-co.zoom.us/webinar/register/WN_Jk5SnZAXQUGgAxVU5-QceQ

Complete financial statements along with related management’s discussion and analysis can be found in the System for Electronic Document Analysis and Retrieval (SEDAR), the electronic filing system for the disclosure documents of issuers across Canada at www.SEDAR.com and on the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR), the electronic filing system for the disclosure of documents of issuers in the United States at www.sec.gov.

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, MindMed’s pursuit of strategic initiatives and its 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 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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Mind Medicine (MindMed) Inc. Announces Q2 2020 Financial Results

Reports Strong Cash Position of $24m USD To Execute Multiple Clinical Trials

New York, – August 14, 2020 – Mind Medicine (MindMed) Inc. (NEO: MMED OTCQB: MMEDF), the leading psychedelic pharmaceutical company, has announced its second quarter financial results for the three and six months ended June 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 at June 30, 2020 were $29.8 million, including $24.0 million cash, which will be used primarily to execute the company’s multiple clinical trials
  • Net and comprehensive loss of $5.8 million for the three months ended June 30, 2020

Corporate Update Call

A corporate update call will be held Monday, August 17, 2020 at 1:00pm EST

To register for the call please follow the associated link: https://us02web.zoom.us/webinar/register/WN_RjJa7oxfQfmzsMwkzaEwsw

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic-inspired medicines to improve health, promote wellness and alleviate suffering. The company has initiated or is initiating studies to evaluate potential treatments to help patients with ADHD, anxiety, cluster headaches and substance abuse. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTC: MMEDF and in Germany under the symbol DE: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)

* Please note this release has been updated to reflect an error initial release, that previously referred net and comprehensive loss of $5.8 million for the SIX months ended June 30, 2020, and has been corrected to accurately reflect the THREE months period ended June 30, 2020.