MindMed

{{Short description|Psychedelic medicine biotech company}}

{{infobox company

| name = Mind Medicine/MindMed, Inc.

| logo = MindMed_logo.jpg

| logo_caption =

| logo_alt =

| type = Public

| traded_as = {{unbulleted list|{{NASDAQ|MNMD}}}}{{Cite web|last=Yakowicz|first=Will|title=Psychedelics Company MindMed Trips In Nasdaq Debut|url=https://www.forbes.com/sites/willyakowicz/2021/04/27/psychedelics-company-mindmed-trips-in-nasdaq-debut/|access-date=2021-05-31|website=Forbes|language=en}}

| ISIN = {{ISIN|sl=n|pl=y|CA60255C8850}}

| industry = Biotechnology
Mental health

| fate =

| predecessor =

| successor =

| founded = {{start date and age|2019|05}}, in Toronto, Canada

| founder = Jamon "JR" Rahn
Stephen Hurst
Scott Freeman
Leonard Latchman

| defunct =

| hq_location_city = New York

| hq_location_country = U.S.

| area_served = Worldwide

| key_people = {{Unbulleted list|Robert Barrow (CEO)|Daniel R Karlin, MD, MA (CMO)|}}

| products =

| services = {{Unbulleted list|Drug development|Psychedelic research|Psychedelic assisted therapy}}

| owner =

| subsid = MindMed Discover (Basel, Switzerland)
MindMed Pty Ltd. (Perth, Western Australia)

| num_employees = 57

| num_employees_year =

| parent =

| website = {{URL|https://mindmed.co}}

}}

Mind Medicine (MindMed) Inc., doing business as MindMed, is a New York-based biotechnology company that is currently developing clinical and therapeutic applications for psychedelic and, more broadly, psychoplastogenic drugs.{{Cite news |title=Mind Medicine (MindMed) Inc. (NASDAQ:MNMD): Emerging as a Leader in Brain Health Treatments |url=https://beyondspx.com/article/mind-medicine-mindmed-inc-nasdaq-mnmd-emerging-as-a-leader-in-brain-health-treatments |work=BeyondSPX |language=en-US |issn=0099-9660}}

History

MindMed was founded in May 2019 by Stephen Hurst and Jamon Rahn.{{Cite magazine |last=Heller |first=Nathan |date=3 October 2020 |title=Turn On, Tune In, Get Well |url=https://www.newyorker.com/magazine/2020/10/12/turn-on-tune-in-get-well |access-date=2020-11-18 |magazine=The New Yorker |language=en-us}}{{Cite web|last=Yakowicz|first=Will|title=This New York City Pharma Startup Wants To Turn LSD Into An FDA-Approved Medicine For Anxiety Disorder|url=https://www.forbes.com/sites/willyakowicz/2020/04/01/this-new-york-city-pharma-startup-wants-to-turn-lsd-into-an-fda-approved-medicine-for-anxiety-disorder/|access-date=2020-11-19|website=Forbes|language=en}}{{Cite web|date=2019-12-17|title=Addiction Treatment Gets Psychedelic With 'Shark Tank' Investor-Approved Startup|url=https://observer.com/2019/12/microdosing-ibogaine-psychedelic-drugs-shark-tank-kevin-oleary-mindmed/|access-date=2021-02-11|website=Observer|language=en-US}}{{Cite web|last=Brodwin|first=Erin|title=A startup that wants to use psychedelics to treat addiction just raised $6.2 million from the host of Shark Tank and the architect behind the world's biggest cannabis grower|url=https://www.businessinsider.com/psychedelics-company-raises-funds-canopy-growth-bruce-linton-shark-tank-2019-9|access-date=2020-11-20|website=Business Insider}}

MindMed initially focused on developing treatments for opioid withdrawal and opioid use disorder with 18-MC, a non-hallucinogenic molecule based on the psychoactive alkaloid ibogaine.{{Cite web|last=Today|first=Psychedelics|date=2019-04-22|title=The Future of Medical Ibogaine|url=https://psychedelicstoday.com/2019/04/22/future-medical-ibogaine/|access-date=2020-11-19|website=Psychedelics Today|language=en-US}} In June 2019, it acquired the 18-MC drug development program, previously funded by the National Institute on Drug Abuse, and in September began to prepare 18-MC for a Phase I FDA 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 with the Canadian gold mining company Broadway Gold Mining.{{Cite web|last=Yakowicz|first=Will|title=Psychedelic Drug Company MindMed Applies For Nasdaq Up-Listing|url=https://www.forbes.com/sites/willyakowicz/2020/09/25/psychedelic-drug-company-mindmed-applies-for-nasdaq-up-listing/|access-date=2020-11-23|website=Forbes|language=en}} It began trading on the Nasdaq as MNMD in April 2021 after being approved for an uplisting from the OTC Markets.{{Cite web |last=Gage |first=Collin |date=2021-04-23 |title=MindMed To Commence Trading on Nasdaq |url=https://mindmed.co/news/press-release/mindmed-to-commence-trading-on-nasdaq/ |access-date=2024-06-16 |website=MindMed |language=en-US}}

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.{{Cite web |date=2021-06-09 |title=MindMed Announces Chief Executive Officer Transition |url=https://ir.mindmed.co/news-events/press-releases/detail/94/mindmed-announces-chief-executive-officer-transition |access-date=2024-06-16 |website=Mind Medicine (MindMed) Inc. |language=en}}

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.{{Cite web |title=MindMed Closes Acquisition of HealthMode, a Leading Machine Learning Digital Medicine Company |url=https://mindmed.co/news/press-release/mindmed-closes-acquisition-of-healthmode-a-leading-machine-learning-digital-medicine-company/}}

On August 25, 2022, the first patient was dosed in a phase 2b trial for treatment of MM120 in generalized anxiety disorder (GAD).{{Cite web |title=MindMed Announces First Patient Dosed in Phase 2b Trial of MM-120 in Generalized Anxiety Disorder |url=https://ir.mindmed.co/news-events/press-releases/detail/29/mindmed-announces-first-patient-dosed-in-phase-2b-trial-of-mm-120-in-generalized-anxiety-disorder]}} The study would go on to recruit 198 participants.{{Cite web |title=A Dose-Finding Study of MM-120 (LSD D-Tartrate) for the Treatment of Anxiety Symptoms |url=https://clinicaltrials.gov/study/NCT05407064}} The majority of trial participants experienced statistically significant improvements in their GAD scores, leading to the approval of multiple phase three human trials.{{Cite web |title=MindMed Announces Positive Topline Results from Phase 2b Trial of MM-120 in Generalized Anxiety Disorder |url=https://ir.mindmed.co/news-events/press-releases/detail/131/mindmed-announces-positive-topline-results-from-phase-2b-trial-of-mm-120-in-generalized-anxiety-disorder}}

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-assisted therapy for alcohol use disorder.{{Cite web|title=NYU Langone, MindMed team up to launch training program for psychedelic therapies|url=https://www.fiercehealthcare.com/tech/nyu-langone-mindmed-team-up-to-launch-training-program-for-psychedelic-therapies|access-date=2020-11-23|website=FierceHealthcare|language=en}}

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, MDMA, 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, the primary psychoactive ingredient in ayahuasca,{{Cite web|title=Psychedelic DMT to Enter Clinical Trials {{!}} Drug Discovery And Development|url=https://www.labroots.com/trending/drug-discovery-and-development/17948/psychedelic-dmt-enter-clinical-trials|access-date=2020-11-21|website=LabRoots}}{{Cite web|last=Chang|first=Ellen|date=September 20, 2020|title=Why Investing in Psychedelics Could be Better than Cannabis|url=https://money.usnews.com/investing/articles/why-investing-in-psychedelic-medicine-could-be-better-than-cannabis|archive-url=|archive-date=|access-date=November 16, 2020|website=U.S. News & World Report}} 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 in the journal Neuropsychopharmacology.{{Cite journal|last1=Holze|first1=Friederike|last2=Vizeli|first2=Patrick|last3=Ley|first3=Laura|last4=Müller|first4=Felix|last5=Dolder|first5=Patrick|last6=Stocker|first6=Melanie|last7=Duthaler|first7=Urs|last8=Varghese|first8=Nimmy|last9=Eckert|first9=Anne|last10=Borgwardt|first10=Stefan|last11=Liechti|first11=Matthias E.|date=2020-10-15|title=Acute dose-dependent effects of lysergic acid diethylamide in a double-blind placebo-controlled study in healthy subjects|journal=Neuropsychopharmacology|volume=46|issue=3|language=en|pages=537–544|doi=10.1038/s41386-020-00883-6|pmid=33059356|issn=1740-634X|pmc=8027607}} In September 2021, further results were presented by Matthias Liechti, head of the Liechti Lab,{{Cite web|url=https://biomedizin.unibas.ch/en/research/research-groups/liechti-lab/|title=Liechti Lab | Department of Biomedicine}} at the INSIGHT Conference in Berlin.{{Cite press release|url=https://www.prnewswire.com/news-releases/mindmed-and-liechti-lab-provide-results-from-their-psilocybin-rd-collaboration-301383844.html|title = MindMed and Liechti Lab Provide Results from their Psilocybin R&D Collaboration}} 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 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.{{Cite web|date=2021-01-15|title=Mind Medicine announces study evaluating LSD microdosing {{!}} Healthing.ca|url=https://www.thegrowthop.com/cannabis-news/mind-medicine-announces-study-evaluating-effects-of-microdosing-lsd|access-date=2021-02-08|language=en-US}}

In March 2024, the FDA granted breakthrough therapy designation to MindMed's form of LSD (MM120) for the treatment of generalized anxiety disorder. This decision was influenced by a drug trial in which approximately half of the participants experienced significant relief from their symptoms.{{Cite web |last=Terry |first=Ken |title=FDA Opens the Door to Clinical Use of LSD |url=https://www.webmd.com/mental-health/news/20240326/fda-opens-the-door-clinical-use-lsd |access-date=2024-12-23 |website=WebMD |language=en}}{{Cite web |last=Meara |first=Killian |date=2024-03-07 |title=FDA Grants Breakthrough Therapy Designation to LSD-Based Treatment for Generalized Anxiety Disorder |url=https://www.drugtopics.com/view/fda-grants-breakthrough-therapy-designation-to-lsd-based-treatment-for-generalized-anxiety-disorder |access-date=2025-02-25 |series=Drug Topics April 2024 |language=en}}

=Ongoing clinical trials=

  • MM120 ODT (Lysergide (LSD) D-tartrate) - Generalized Anxiety Disorder (GAD) is in Phase 3{{Cite web |date=2024-12-16 |title=MindMed Announces First Patient Dosed in Phase 3 Voyage Study of MM120 in Generalized Anxiety Disorder (GAD) |url=https://ir.mindmed.co/news-events/press-releases/detail/169/mindmed-announces-first-patient-dosed-in-phase-3-voyage-study-of-mm120-in-generalized-anxiety-disorder-gad |access-date=2024-12-23 |website=Mind Medicine (MindMed) Inc. |language=en}}
  • MM120 ODT (Lysergide D-tartrate) - Major Depressive Disorder (MDD) will be in Phase 3 H1 2025{{Cite web |last=mindmed |date=2023-04-14 |title=MindMed Collaborators Announce Positive Topline Data from Phase 2 Trial of Lysergide (LSD) in Major Depressive Disorder (MDD) |url=https://mindmed.co/news/press-release/mindmed-collaborators-announce-positive-topline-data-from-phase-2-trial-of-lysergide-lsd-in-major-depressive-disorder-mdd/ |access-date=2024-12-23 |website=MindMed |language=en-US}}
  • MM402 (R(-)-MDMA) - Autism Spectrum Disorder (ASD) is in Phase 1{{Cite news |title=MindMed Announces Business Update and Anticipated Milestones for 2024 |url=https://www.businesswire.com/news/home/20240108449557/en/MindMed-Announces-Business-Update-and-Anticipated-Milestones-for-2024 |archive-url=http://web.archive.org/web/20240619072202/https://www.businesswire.com/news/home/20240108449557/en/MindMed-Announces-Business-Update-and-Anticipated-Milestones-for-2024 |archive-date=2024-06-19 |access-date=2024-12-23 |language=en}}

See also

References

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