Mind Medicine (MindMed) Inc.,

doing business as A trade name, trading name, or business name is a pseudonym used by companies that do not operate under their registered company name. The term for this type of alternative name is fictitious business name. Registering the fictitious name with ...

MindMed, is a

New York New York most commonly refers to: * New York (state), a state in the northeastern United States * New York City, the most populous city in the United States, located in the state of New York New York may also refer to: Places United Kingdom * ...

-based biotechnology company that is currently developing clinical and therapeutic applications for

psychedelic Psychedelics are a subclass of hallucinogenic drugs whose primary effect is to trigger non-ordinary mental states (known as psychedelic experiences or "trips") and a perceived "expansion of consciousness". Also referred to as classic halluci ...

and, more broadly, psychoplastogenic drugs.

History

MindMed was founded in May 2019 by Stephen Hurst and Jamon Rahn. MindMed initially focused on developing treatments for

opioid withdrawal Opioid withdrawal is a set of symptoms arising from the sudden cessation or reduction of opioids where previous usage has been heavy and prolonged. Signs and symptoms of withdrawal can include drug craving, anxiety, restless legs syndrome, naus ...

and

opioid use disorder Opioid use disorder (OUD) is a substance use disorder characterized by cravings for opioids, continued use despite physical and/or psychological deterioration, increased tolerance with use, and withdrawal symptoms after discontinuing opioids. ...

with 18-MC, a non-hallucinogenic molecule based on the psychoactive alkaloid

ibogaine Ibogaine is a psychoactive indole alkaloid derived from plants such as '' Tabernanthe iboga'', characterized by hallucinogenic and oneirogenic effects. Traditionally used by Central African foragers, it has undergone controversial research ...

. In June 2019, it acquired the 18-MC drug development program, previously funded by the

National Institute on Drug Abuse The National Institute on Drug Abuse (NIDA) is a United States federal government research institute whose mission is to "advance science on the causes and consequences of drug use and addiction and to apply that knowledge to improve individual ...

, and in September began to prepare 18-MC for a Phase I

FDA The United States Food and Drug Administration (FDA or US FDA) is a federal agency of the Department of Health and Human Services. The FDA is responsible for protecting and promoting public health through the control and supervision of food ...

clinical trial to enable further clinical trials targeting opioid withdrawal and opioid use disorder. MindMed was the first psychedelic pharmaceutical company to go public, listing on the Canadian NEO Exchange in March of 2020 through a

reverse takeover A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public compa ...

with the Canadian gold mining company Broadway Gold Mining. It began trading on the

Nasdaq The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

as MNMD in April 2021 after being approved for an uplisting from the OTC Markets. In a press release on June 9, 2021 MindMed announced that Jamon Rahn was stepping down both as the CEO and as a director on the board, to be replaced by then CDO Robert Barrow. On February 26, 2021, MindMed closed its acquisition of digital health startup HealthMode. In connection with the acquisition, Daniel Karlin MD, CEO of HealthMode, was appointed to the position of CMO of the company. On August 25, 2022, the first patient was dosed in a phase 2b trial for treatment of MM120 in generalized anxiety disorder (GAD). The study would go on to recruit 198 participants. The majority of trial participants experienced statistically significant improvements in their GAD scores, leading to the approval of multiple phase three human trials.

Research

In March 2020, MindMed announced that it had partnered with NYU Langone to launch a clinical training program to train psychiatrists in psychedelic therapies and research to advance and deploy psychedelic medicines. The company committed $5 million to establish the center, which will also explore 18-MC and the use of drugs, including

psilocybin Psilocybin, also known as 4-phosphoryloxy-''N'',''N''-dimethyltryptamine (4-PO-DMT), is a natural product, naturally occurring tryptamine alkaloid and Investigational New Drug, investigational drug found in more than List of psilocybin mushroom ...

-assisted therapy for

alcohol use disorder Alcoholism is the continued drinking of alcohol despite it causing problems. Some definitions require evidence of dependence and withdrawal. Problematic use of alcohol has been mentioned in the earliest historical records. The World Hea ...

. In April 2020, the company entered into a long-term partnership with University Hospital Basel's Liechti Lab, gaining rights to more than ten years of the lab's data related to

LSD Lysergic acid diethylamide, commonly known as LSD (from German ; often referred to as acid or lucy), is a semisynthetic, hallucinogenic compound derived from ergot, known for its powerful psychological effects and serotonergic activity. I ...

MDMA 3,4-Methylenedioxymethamphetamine (MDMA), commonly known as ecstasy (tablet form), and molly (crystal form), is an empathogen–entactogenic drug with stimulant and minor Psychedelic drug, psychedelic properties. In studies, it has been used ...

, and other psychedelic substances. The development of a novel compound designed to shorten the duration or stop an LSD experience that would allow LSD to be more widely used in a therapeutic environment was subsequently announced. Later that year a clinical trial studying the effects of

DMT Dimethyltryptamine (DMT), also known as ''N'',''N''-dimethyltryptamine (''N'',''N''-DMT), is a serotonergic hallucinogen and investigational drug of the tryptamine family that occurs naturally in many plants and animals, including humans. D ...

, the primary psychoactive ingredient in

ayahuasca AyahuascaPronounced as in the UK and in the US. Also occasionally known in English as ''ayaguasca'' (Spanish-derived), ''aioasca'' (Brazilian Portuguese-derived), or as ''yagé'', pronounced or . Etymologically, all forms but ''yagé'' descen ...

, and clinical trials combining MDMA and LSD were announced. A study to better understand and compare the altered states of consciousness induced by psilocybin and LSD began in August 2020, and in October a Phase 1 study at the Liechti Lab on the acute dose dependent effects of LSD was completed. The results of the study were published by the

American College of Neuropsychopharmacology Founded in 1961, the American College of Neuropsychopharmacology (ACNP) is a professional organization of leading brain and behavior scientists. The principal functions of the College are research and education. Their goals in research are to offer ...

in the journal ''

Neuropsychopharmacology Neuropsychopharmacology, an interdisciplinary science related to psychopharmacology (study of effects of drugs on the mind) and fundamental neuroscience, is the study of the neural mechanisms that drugs act upon to influence behavior. It entails ...

''. In September 2021, further results were presented by

Matthias Liechti Matthias Emanuel Liechti (born 27 May 1970) is a Swiss scientist and physician who studies psychedelics, entactogens, and other psychoactive drugs. He is the head of the Liechti Lab at the University of Basel in Switzerland. The lab conducts '' ...

, head of the Liechti Lab, at the INSIGHT Conference in Berlin. The results included the first clinical evidence on the comparative effects of LSD and psilocybin, stating 100mcg of LSD produced the same acute perceptual effects as a dose of 20 mg of psilocybin in healthy volunteers. Additionally, psilocybin taken after administering antidepressants for two weeks prior, was deemed safe, as well as reduced anxiety and blood pressure without hindering the psychedelic experience. In December 2020, MindMed entered into an investigator-sponsored study agreement with

Maastricht University Maastricht University (abbreviated as UM; ) is a public university, public research university in Maastricht, Netherlands. Founded in 1976, it is the second youngest of the thirteen List of universities in the Netherlands, Dutch universities. In ...

in the Netherlands. The university provided facilities and personnel for a Phase 1 study to evaluate the effects of two low doses of LSD on mood, sleep and neuroplasticity. In March 2024, the

granted

breakthrough therapy Breakthrough therapy is a United States Food and Drug Administration designation that expedites drug development that was created by Congress under Section 902 of the 9 July 2012 Food and Drug Administration Safety and Innovation Act. The FDA's "b ...

designation to MindMed's form of LSD (MM120) for the treatment of

generalized anxiety disorder Generalized anxiety disorder (GAD) is an anxiety disorder characterized by excessive, uncontrollable and often irrational worry about events or activities. Worry often interferes with daily functioning. Individuals with GAD are often overly con ...

. This decision was influenced by a drug trial in which approximately half of the participants experienced significant relief from their symptoms.

Ongoing clinical trials

* MM120 ODT ( Lysergide (LSD) D-tartrate) - Generalized Anxiety Disorder (GAD) is in Phase 3 * MM120 ODT (Lysergide D-tartrate) - Major Depressive Disorder (MDD) will be in Phase 3 H1 2025 * MM402 ( ''R''(-)-MDMA) - Autism Spectrum Disorder (ASD) is in Phase 1

References

{{reflist

External links

mindmed.co
Psychedelic drug research Health care companies based in New York (state) Medical technology companies of the United States Pharmaceutical companies of the United States Pharmaceutical companies American companies established in 2019 Companies listed on Cboe Canada Companies listed on the Nasdaq Companies listed on the Frankfurt Stock Exchange Psychedelic pharmaceutical companies

History

Research

Ongoing clinical trials

See also

References

External links