MindMed is preparing a Phase II clinical trial using LSD micro-dosing
MindMed (ticker: MMED.TO), also known as Mind Medicine, is a neuro-pharmaceutical company dedicated to the research, development, and distribution of medicines inspired by – and derived from – psychedelic drugs to improve health outcomes and promote wellness.
Shark Tank host Kevin O’Leary (aka Mr. Wonderful) is a major investor in the company, with his group staking $6.2 million on MindMed’s anticipated success (here the interview).
MindMed is in the process of building an intellectual property portfolio and running clinical trials on psychedelic-based medicines intended to treat conditions such as ADHD and to help resolve addictions to substances such as opioids and alcohol.
MindMed Co-Founder J. R. Rahn says:
“We believe that hallucinogenic therapies have great merit and benefits for treating addiction. But undergoing a ‘psychedelic trip’ might be a daunting proposition to some patients. We want patients to pick up these medicines from their local pharmacy with a prescription.
We feel there is an immense opportunity to create next-gen[eration] versions of psychedelics for approval as FDA drugs.”
The company is preparing a Phase II clinical trial using LSD micro-dosing with a focus on ADHD treatment, as well as a Phase II FDA clinical trial on the ibogaine-derived molecule 18-MC for opioid addiction. The company’s 18-MC is a non-hallucinogenic version of the psychedelic compound ibogaine.
According to a Bloomberg report, a spokesperson for NEO confirmed the MindMed listing and added that it is pending final approvals. The company is not generating revenue as of yet, but is projected to go public at a market valuation of about $50 million.
Commenting on the pending IPO, Rahn says:
“Our ambition is to be one of the first publicly listed neuro-pharmaceutical companies developing psychedelic medicines.”
All signs seem to point to this: MindMed is poised to take its place at the forefront of the market as leader of the nascent neuroceutical industry. Be sure to watch this rockstar stock, and don’t miss out on the initial public offering scheduled for Tuesday on NEO.
You can watch the full Interview with JR Rahn in TraderTV’s Youtube Channel.
Update: the pioneering psychedelic stock!
Neuro-pharma company Mind Medicine Inc. (aka MindMed) took the market by storm as the first psychedelics company to ever go public. And as demand for the sector leader outpaced supply, the stock surpassed the previous new listing volume record on the NEO Exchange with approximately 13.65 million MMED.TO shares traded.
At its first closing bell, the stock closed 23% higher on the day. Before MindMed’s listing, the aggregate sector market cap was barely CA$30 million.
Now, it’s four times that.
There’s no question that MindMed’s first day was an unqualified success. At the very least, it proved that legitimate, well-financed psychedelic companies can attract capital in spades.
Want to learn more? Read all about it:
- MindMed Corporate Presentation (PDF)
90436824/silicon-valleys- psychedelic-wonder-drug-is- almost-here
business/mind-medicine-inc- the-next-speculative- psychedelics-unicorn/
news/articles/2020-02-11/move- over-pot-psychedelic- companies-are-about-to-go- public
- Psychedelic Drug Company MindMed Applies For Nasdaq Up-Listing – Forbes
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