DecentraNews – Metaverse, MANA, LAND, ETH, NFT's and Crypto News

Decentraland, Metaverse, MANA, LAND, ETH, NFT's, and Crypto News. Get up to date with the latest news about the Metaverse and NFT scene.

MindMed ($MNMD) Overview: Treating mental health with psychedelics

MindMed ($MNMD) is the future of medicine

MindMed ($MNMD) is the future of medicine

Canadian biotechnology company MindMed, which develops and deploys psychedelic based medications and treatment protocols has recently been listed on the NASDAQ exchange

MindMed (NASDAQ:MNMD) is an early stage biotechnology company. They are focused on discovering, developing and deploying psychedelic based medications and treatment protocols. Those treatments are primarily derived from Psilocybin, LSD, MDMA, DMT and Ibogaine.

The company is led by Chief Executive Officer and Co-Founder, JR Rahn, a former Silicon Valley tech executive, and President and Board Director, Dr. Miri Halperin Wernli. Wernli is a thirty-year pharmaceutical and biomedical executive who previously served at several major pharmaceutical companies such as; Merck, Roche, and Actelion.

Their pipeline is focused on treating a range of common mental health and neurological disorders like; addiction, anxiety, depression, and headaches.

MindMed is backed by notable investors, including Shark Tank’s Kevin O’Leary and Canopy Growth Corp founder, Bruce Linton, who serves as a Board Director. They have six medications and treatment protocols currently in clinical trials, including treatments for opioid addiction, depression, anxiety, and headaches. MindMed is also the second-largest holding in Horizons’ PSYK ETF, the world’s first psychedelic ETF.

MindMed has a lot of catalysts expected to occur this year; one of which was the imminent NASDAQ uplisting that just happened recently.

In 2014, it was reported that mental health and substance abuse services account for approximately $50 billion in annual revenue and $300 billion when ancillary services are considered.

MindMed flashship treatments/products

Since its inception, MindMed has raised $187M, including warrants. Funding has occurred over six rounds, with four bought-deal offerings, one pre-public offering, and one seed round. Notable investors include Canaccord Genuity Group, venture capitalist and Shark Tank host Kevin O’Leary, Velos Partners founder James Bailey, and Canopy Growth Corporation founder, Bruce Linton.

Products and services

18-MC: 18-Methoxycoronaridine is a novel derivative of Ibogaine, a naturally occurring psychoactive substance found in plants, which has demonstrated promising results in treating drug, alcohol, and nicotine addiction. 18-MC has a significantly improved safety profile, and is shown to be neither psychoactive nor psychedelic. At MindMed, 18-MC is currently entering Phase 2A trials for the treatment of opioid addiction.

Project Lucy: This program intends to develop and commercialize psychedelic-assisted therapies for the treatment of anxiety disorder. Experimental doses of LSD will be evaluated under supervision, and in coordination with ongoing patient therapies. In December of 2020, MindMed announced the successful completion of a Pre-IND meeting with the FDA for Project Lucy, as well as preparations to open an Investigational New Drug (IND) in August of 2021, with a Phase 2B clinical trial for LSD assisted therapy.

Albert Digital Medicine: Digital therapeutics are evidence-based interventions guided by software for the treatment and prevention of diseases and disorders. These digital tools include wearable devices, machine learning, and AI systems. Albert is an early-stage platform intended to develop a comprehensive toolset focused on delivering psychedelic-based treatments and therapies in combination with digital therapeutics. Dr. Miri Halperin Wenli, MindMed’s President and Head of Chair of Technology Evaluation, is currently designing an experimental clinical trial that pairs psychedelic-inspired medicines, such as LSD, with digital therapeutics to track, engage, and influence patient behavior.

Stock technicals and conclusion

Since they announced the imminent uplisting on the Nasdaq exchange, the stock has surged leading to a 40% rise. The volume is also increasing accordingly. It seems all MindMed needed was that uplisting, which helps the company get known.

MMEDF, the OTC equivalent, has also begun an impressive run from the penny stock territory of around .50 in late September of last year to almost $5 very recently. Shockingly in January MMEDF closed a deal to sell 20M shares at $4.40 to secure a fist full of cash (72M USD) to nearly double their on-hand cash of around 144M USD.

It’s always a horror story to go balls deep on one of these penny stock pharma YOLOs and then find out they went bankrupt and you’re holding the bag because you couldn’t get your hands on the financials. Right now the market is in a bubble and there’s plenty of speculation being thrown around and not a ton of ‘value’ plays going on. I’m of the opinion that if we take a look into the next 5 years we’ll see a bright future for medicines previously labeled as drugs. This is absolutely a long play.

Meanwhile cannabis is now being legalized recreationally all over the place but it had a hard fight through the medical community first. Eventually, I could see psilocybin being recreationally legal for adults as they are in some European countries. I think in the short term, Canada might be the first country to officially sanction such treatments.

A fair value isn’t even a knowable thing until the FDA approves medication and we’ve seen 1 or 2 quarters of the products they’re creating adopted and used in the market. But I can for sure that those kinds of therapies have a very bright future. Governments around the world have ignored/outlawed research on psychedelics for far too long, with devastating effects on mental health. But this could all change very soon, thanks to companies such as MindMed.

Share with post with your friends :