BASEL, Switzerland, June 2, 2020 /PRNewswire/ -- Mind Medicine (MindMed) Inc. (NEO: MMEDOTCQB: MMEDF) is expanding its Phase 2a clinical trial of LSD microdosing for Adult ADHD. MindMed is the leading neuro-pharmaceutical company for psychedelic inspired medicines and as part of its expanding slate of research and clinical trials, will add an additional clinical trial site and Principal Investigator at the University Hospital Basel in Basel, Switzerland, the birthplace of LSD for its Phase 2a clinical trial of LSD microdosing.
MindMed's microdosing division is pioneering the clinical development of consuming very low, sub-hallucinogenic doses of psychedelic substances. The company intends to continue building its microdosing division into a global leader for microdosing psychedelics and expand a diverse R&D pipeline of sub-hallucinogenic doses of psychedelics to treat various mental health issues including Adult ADHD.
MindMed is specifically interested in the adult segment for ADHD as it comprises over 46.5% of the total ADHD medication market in the United States. The total U.S. market size for ADHD medications is currently valued at $12.9 billion annually. Of the estimated 10 million American adults that have ADHD, it is projected that a meager 10.9% actually seek and receive treatment for their condition.
MindMed Co-Founder & Co-CEO JR Rahn said, "The genesis of MindMed came as I was hearing anecdotal evidence from friends in Silicon Valley that microdosing was helping them to get off stimulant based ADHD medications and with other medical ailments. I started exploring and talking with leading scientists around the world and discovered that what is happening in the shadows should be brought to light, understood by the medical community and be available in a safe, regulated way, to everyone. MindMed is focused on becoming the global leader in microdosing to help millions who suffer from illnesses like ADHD. We are quickly amassing a strong group of preeminent clinical researchers and scientific minds to focus on this important and innovative work."
As part of the Phase 2a multicenter trial, the world leading researcher in psychedelics pharmacology and clinical research, Dr. Matthias Liechti will now also serve as an additional Principal Investigator on the first ever Phase 2a Proof of Concept clinical trial evaluating LSD for the treatment of Adult ADHD.
MindMed previously signed a clinical trial agreement with Maastricht University, a leader in microdosing research based in the Netherlands, as part of the same Phase 2a clinical trial. The world's top psychedelics microdosing clinical researcher Maastricht University Associate Professor Dr. Kim Kuypers will also serve as a Principal Investigator for the trial which is scheduled to begin both in the Netherlands and Switzerland by the end of 2020.
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 ground-breaking 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 symbolOTCQB: MMEDF and in Germany under the symbol DE:BGHM.
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.
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SOURCE Mind Medicine (MindMed) Inc.