MindMed Launches Project Lucy Focused on LSD Experiential Therapy For Anxiety Disorders
Ryan Allway
June 4th, 2020
News, Psychedelics
Canada NewsWire
NEW YORK, June 4, 2020
Targeting a Phase 2b psychedelic assisted therapy trial for the treatment of anxiety disorders
NEW YORK, June 4, 2020 /CNW/ — Mind Medicine (MindMed) Inc. (NEO: MMED OTCQB: MMEDF), the leading neuro-pharmaceutical company for psychedelic inspired medicines, has officially launched Project Lucy, a commercial drug development program for the treatment of anxiety disorders. The company intends to initiate a Phase 2b human efficacy trial that will focus on experiential doses of LSD, administered by a therapist. This is the first experiential, psychedelic-assisted therapy to be added to the company’s drug development pipeline.
With the launch of Project Lucy, MindMed is now preparing a total of three Phase 2 commercial drug trials based on psychedelic inspired medicines, making it one of the most advanced and largest drug development pipelines in the psychedelics industry.
MindMed Co-Founders and Co-CEOs JR Rahn and Stephen Hurst said, “Today’s announcement demonstrates our team’s strong capabilities to efficiently execute on our vision of building a synergistic platform that can take an idea and turn it into a later stage clinical trial with the sense of urgency investors expect and patients deserve. Having the first mover advantage on a diverse pipeline of later-stage commercial drug trials in mental health is important for MindMed as a company, but the learnings we obtain from this pipeline also helps us push the frontier of psychedelic inspired medicines.”
As part of MindMed’s decision to add an experiential therapy for anxiety disorders to its clinical development pipeline, MindMed has established a project taskforce that is preparing a briefing package for a potential IND (Investigational New Drug) with the Food and Drug Administration (FDA). MindMed’s Project Lucy task force is working to prepare and analyze data relevant for the discussion with the FDA relating to the potential opening of an US IND for the treatment of anxiety disorders.
Previously, the company acquired exclusive, worldwide data rights to eight completed or ongoing clinical trials from the University Hospital Basel evaluating LSD based on over 10 years of research. MindMed plans to assemble and use this data as part of its briefing package to the FDA.
MindMed also received the data and worldwide rights to an ongoing Phase 2 trial for anxiety disorders administered by the world leader in psychedelics pharmacology and clinical research, Dr. Matthias Liechti, and psychedelic therapy expert, Dr. Peter Gasser. Such data and knowhow will help build MindMed’s understanding of LSD for anxiety disorders and its platform for LSD as a prescription medication for serious mental health conditions.
Many mental health disorders appear to be interconnected which presents a unique opportunity to MindMed to innovate and create a novel treatment paradigm. As an example, approximately 50% of ADHD patients also suffer from anxiety disorders. Furthermore, up to 90% of patients with General Anxiety Disorder also have symptoms of another mental health problem, such as depression or substance abuse.
The World Health Organization estimates that 284 million people are living with anxiety disorders globally and it is the most common mental illness in the United States. MindMed sees a large opportunity to evaluate the interconnectedness of mental health disorders and create a novel treatment paradigm that incorporates both experiential dose psychedelic-assisted therapy and non-hallucinogenic take-home medicines being developed in its microdosing division.
About MindMed
Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company’s immediate priority is to address the opioid crisis by developing a non- hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for Adult ADHD. The company has also added MDMA to its R&D pipeline in order to explore MDMA’s potential to treat mental health disorders. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co.
MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTC: MMEDF and in Germany under the symbol DE:BGHM.
Forward-Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” within the meanings of applicable securities laws, which may include, but is not limited to, statements with respect to anticipated business plans or strategies of MindMed, the anticipated date of completion of micro-dosing studies, the timing of any drug trials, the success of its clinical trials and the ability to enter into acquisitions or collaborations to enhance its drug development platform and IP portfolio. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MindMed to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and MindMed disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For further information:
Media Contact: Anna Walsh, E: mindmedpr@pacepublicrelations.com, P: 212-254-4730; or Investor Relations: invest@mindmed.co, https://www.mindmed.co
View original content to download multimedia:http://www.prnewswire.com/news-releases/mindmed-launches-project-lucy-focused-on-lsd-experiential-therapy-for-anxiety-disorders-301070570.html
SOURCE Mind Medicine (MindMed) Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2020/04/c1824.html
Copyright CNW Group 2020
News Provided by
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
In addition to his role as Founder and CEO at MAZAKALI, Sumit is a consultant to The Arcview Group and the Managing Partner of Emerald Ventures. A frequent speaker at investment seminars, Sumit acts as a mentor to Arcview and Canopy companies and serves on the Canopy Investment committee as well as the NCIA Finance […]
Technical420 is the premier provider of research and analysis on cannabis stocks. We provide investors with sponsored and non-sponsored information on the volatile and emerging cannabis industry. “Our research is our passion!” Your profit is our reward!
New You, Inc. (OTCQB: NWYU) wholly-owned subsidiary, ST Brands Corp is a holding company of branded assets that create, develop, market, and sell unique and proprietary cannabidiol (“CBD”) products to various segments of the global consumer market.
BDS Analytics aims to drive the cannabis sector to thrive with well-informed decisions based on factual data. By capturing millions of transactions from dispensary point-of-sale systems we provide actionable insights based on accurate information enabling dispensaries, brands, and growers to sustain their success. Their vision is to be your indispensable source for cannabis industry data […]
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
