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🌟It's time for another #researchshort and today I chose....🌟 🧠🍄 $MNMD Mind Medicine MindMed 🍄🧠 Mind Medicine Inc., also known as MindMed, is a New York-based psychedelic medicine biotech company that develops psychedelic-inspired medicines and therapies to address addiction and mental illness. MindMed was founded in May 2019 by Jamon A. Rahn, an entrepreneur, Y-Combinator alumnus, and former Uber executive, and Stephen Hurst, a 35-year veteran of the pharmaceutical industry. Rahn, who was interested in the Silicon Valley trend of psychedelic microdosing to improve focus after struggling with his own mental health and addiction issues, spent two years researching the therapeutic potential of psychedelics prior to meeting Hurst. MindMed initially focused on developing treatments for opioid withdrawal and opioid use disorder with 18-MC, a non-hallucinogenic molecule based on the psychedelic substance Ibogaine. 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. Psychopharmacologist Stanley Glick, who first synthesized 18-MC with chemist Martin E. Kuehne, was later named to MindMed's board of directors and appointed chair of its scientific advisory board. MindMed was the first psychedelic pharmaceutical company to go public, listing on the Canadian NEO Exchange under the symbol "MMED" and trading OTCQB as MMEDF. It began trading on NASDAQ as MNMD in April 2021. -Wikipedia 🍄 Liechti Lab 🍄 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. 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, 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. In September 2021, further results were presented by Dr. Matthias Liechti, 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 20mg 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. -Wikipedia 🤝 MindMed and Sphere Health 🤝 $MNMD leading biotech company developing psychedelic-inspired therapies, has agreed to partner with Sphere Health a physician-founded employee benefits provider targeting treatments for people with severe mental illness, to collect and analyze multimodal data in order to improve the understanding of a variety of biomarkers associated with mental illnesses including anxiety and affective disorders. MindMed and Sphere Health are jointly launching MM061302, a study using existing consumer technology to provide a robust data set, which may be used to develop more accurate machine learning tools in order to identify biomarkers that show association with and prediction of symptoms of anxiety and depression. The study data can be used to better understand mental health conditions, and may help inform the design of future digital tools to support both individuals with mood disorders as well as the clinicians caring for them. Through the partnership with MindMed's collaborator Datavant, study data can also be de-identified and linked at the subject-level to other data sets, maintaining patient privacy while offering further insights based on real-world data. "We are thrilled to have Sphere Health as a partner in this endeavor. As the ways in which individuals use technology to access care continues to evolve, so can our understanding of mental illness and mental health. The use of technology has the potential to offer a level of sensitivity and precision which does not currently exist in our models of these disorders and, we hope, will ultimately lead to better outcomes in our ability to help the folks who suffer from them," said Daniel R. Karlin, MD MA, Chief Medical Officer of MindMed. "For therapy to advance, we need more research. At the same time, we need to make sure that respecting patient privacy and safeguarding their deepest, most personal moments, remains a hallmark of both clinical care and the ethical conduct of research," added Owen Muir, MD, Sphere Health CEO and Principal Investigator of the study. https://finance.yahoo.com/news/mindmed-announces-strategic-research-collaboration-113000062.html 🧠 MindMed Joins Clinical Trials Transformation Initiative 🧠 $MNMD has joined the Clinical Trials Transformation Initiative (CTTI) to contribute in developing and driving adoption of practices that increase the quality and efficiency of clinical trials. MindMed joins CTTI as one of approximately 80 member organizations interested in advancing higher quality clinical trials and accelerating the path to new therapeutics and other medical products. CTTI convenes its members – along with nearly 500+ multi-stakeholder organizations and individuals from across the clinical trials ecosystem – to discuss issues, exchange ideas, and come to a consensus on solutions to the greatest challenges in clinical research. As a member of the Steering Committee, MindMed will contribute to setting project priorities within CTTI's agenda, as well as serving on the teams that create recommendations and resources to transform clinical trials globally. "We welcome every meaningful opportunity to actively participate in the advancement of innovations that are ultimately contributing to the improvement of the way we develop medicine and bring treatment to the patient," said Daniel R. Karlin, MD MA, Chief Medical Officer of MindMed. "MindMed and CTTI are both focused on improving clinical trials on behalf of patients and thus being a part of their mission aligns perfectly with the goals and values we have at MindMed. We look forward to being active partners in this initiative." CTTI's Transforming Trials 2030 vision centers on five principles: that clinical trials in 2030 be patient-centered and easily accessible; fully integrated into health processes; designed with a quality approach; maximally leveraging all available data; and improving population health. MindMed is working to increase accessibility to potentially curative therapies in an overburdened mental healthcare system, working to make sure adoption of psychedelic therapies is evidence-based and easy to integrate into existing healthcare processes. With their digital arm, Albert, MindMed uses traditional and digital clinical trial data collection tools to get patient-reported, clinician-reported, and real world data. https://finance.yahoo.com/news/mindmed-joins-clinical-trials-transformation-113000492.html 💰 MindMed Financials 💰 August 16th, 2021 ⚫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 ⚫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’s cash on hand puts them in 3rd place in having the fattest bank account in the psychedelic medicine industry (behind ATAI and Compass Pathways, and ahead of Field Trip). The company’s financial position remains very solid, with expenses and burn rate showing enough cash for several more quarters of operations before requiring another capital raise (all figures in USD). MindMed continues to build its operational structure and development pipeline, adding key personnel and new products and trials. Since the end of Q2, MindMed has also announced the beginning of an interesting new DMT trial, further expanding their already dynamic pipeline. https://microdose.buzz/news/mindmed-announces-2021-q2-financial-results/
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