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MindMed (NEO: MMED, OTCQB: MMEDF) is considered to be one of the top psychedelic therapy biotech companies and is an opportunity that our readers should be aware of.
Last week, the psychedelic therapy biotech company recorded volatile price movements after raising more than $28 million (CAD) through a private placement of units. MindMed plans to use the proceeds from the capital raise to execute on a series of clinical trials that are in various stages of testing.
One of the key differentiators for MindMed is its partnership with University Hospital Basel’s Liechti Lab and we are bullish on this aspect of the story. Earlier this week, MindMed reported to have completed and published a Phase 1 study on the acute dose dependent effects of lysergic acid diethylamide (LSD). The completion of the study will help the company in the dosing and planning of Phase 2 clinical trials on patients who have anxiety disorders and other medical conditions.
The Phase 1 study measured LSD induced responses from patients and started at microdoses (25ug) and went up to experiential doses (200ug). Although the company reported the best effects with a 100ug dose, an experiential dose of 200ug was shown to induce greater ego dissolution. This is important because ego-dissolution is considered to be one of the core therapeutic potentials of the psychedelic experience and psychedelic assisted therapy process.
Following the results, MindMed’s team is working tirelessly on the preparation of Project Lucy. The project is expected to evaluate the efficacy of LSD assisted therapy for anxiety disorders in a Phase 2b clinical trial and we will monitor how the management team is able to execute.
The completion of the study is considered to be an important steppingstone for MindMed. Going forward, the company plans to use the data to support Project Lucy as the team identifies optimal dose levels of LSD to test in the Phase 2b trial of anxiety disorders.
MindMed and University Hospital Basel are actively filing patent applications on clinical trial data that was generated through the collaboration’s clinical trials and R&D. We consider the relationship to be an attractive aspect of the story and will monitor how the companies are able to execute on clinical trials. MindMed has an exclusive license to the data and IP that is generated through the research collaboration and licensing agreement with the Liechti Lab at University Hospital Basel.
Going forward, we believe that MindMed is well positioned to execute on several major growth projects and will monitor how the management team continues to drive the story forward. If you are interested in learning more about the psychedelic therapy biotech company, please send an email to support@mushroomstocks.com with the subject “MindMed” to be added to our distribution list.
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