Mind Medicine (MindMed) Inc (NEO:MMED) (OTCQB:MMEDF) has said it is “rapidly advancing” its drug development pipeline and research activities since being publicly listed on March 3 this year.
MindMed Co-Founder and Co-CEO JR Rahn said: "Our progress in the past few months clearly demonstrates the quality of our team and the pace at which we operate as a company.”
He added: “We are honored to pioneer the fast growing psychedelic inspired medicines industry alongside peers including COMPASS Pathways, ATAI Life Sciences and non-profits MAPs, USONA and the Heffter Institute. There is a very clear distinction of the caliber of organizations advancing clinical trials to develop disruptive medicines for mental health and addiction and we look forward to continually raising the bar for the entire space and patients."
The New York City-based neuro-pharmaceutical company for psychedelic inspired medicines highlighted its major achievements:
- It added an ongoing Phase 2 clinical trial evaluating high dose lysergic acid diethylamide (LSD) for the treatment of anxiety disorders in collaboration with the University Hospital Basel's Liechti Lab
- Initiated Project Lucy, a high dose LSD psychedelic assisted therapy drug commercial development program for the treatment of anxiety disorders, intending to undertake a Phase 2b human trial
- Added and began treating patients in a Phase 2 clinical trial of LSD for Cluster Headaches in collaboration with University Hospital Basel's Liechti Lab
- Filed a patent application for an LSD neutralizer technology intended to shorten and stop the effects of an LSD trip during a therapy session in collaboration with the University Hospital Basel's Liechti Lab
- Acquired the exclusive license to 8 clinical trials and human safety studies of LSD at University Hospital Basel evaluating LSD
Meanwhile, the company’s microdosing division struck a clinical trial agreement with Maastricht University to undertake a Phase 2a clinical trial for microdosing LSD in adult patients with attention deficit hyperactivity disorder (ADHD) intending to begin by the end of 2020. Dr Kim Krupyers from Maastricht University and Dr Matthias Liechti from the University Hospital Basel will be the principal investigators for the clinical trial for microdosing LSD.
Curbing opioid abuse
The company is making a run at curbing opioid abuse, based on 18-MC, a proprietary non-hallucinogenic molecule derivative of psychedelic ibogaine. It said it “initiated and began dosing of a Phase 1 human safety trial” of its 18-MC program for opioid use disorder in Australia despite the pandemic.
It also acquired the exclusive license to 9 completed clinical trials of MDMA at University Hospital Basel. Performing ongoing evaluation of data and opportunities to create new drug development programs to include MDMA
Finally, the company is providing startup funding to Liechti Lab for a Phase 1 clinical trial of DMT (N, N-Dimethyltryptamine) testing various intravenous dosing regimens, expected to begin in the fourth quarter setting the stage for future potential Phase 2a proof of concept trials.
The MindMed cofounders and co-CEOs JR Rahn and Stephen Hurst will participate in a Q&A with investors on July 2 at 1pm EST. To sign up for the webinar click here: https://us02web.zoom.us/webinar/register/WN_pOzqk58eQaqgq_UZExDiHg
-- Adds 18-MC program progress --
Contact the author Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive