MindMed Became the First Psychedelics Company to List Publicly on NEO Stock Exchange, Created New Committee

Mind Medicine Inc. MMEDF 13.64% (NEO: MMED) received clearance by Canada’s NEO Exchange to list under the symbol MMED on March 3. This makes it the first psychedelic-focused company to go public on a North American exchange.

MindMed is a neuro-pharmaceutical company that researches and develops psychedelics-inspired medicine. The company is researching 18-MC, a non-hallucinogenic drug derived from the psychedelic plant ibogaine and is setting the ground for Phase 2 clinical trials on LSD microdosing.

After completion of a Phase 1 clinical trial to prove 18-MC’s safety in humans the company is now moving forward to Phase 2 trials, which will assess efficacy and side effects. The 18-MC molecule has been floated as a possible alternative to treating substance addiction, including opioids and tobacco.

The company also announced on March 12 it has formed a technology evaluation, acquisition and scientific integrity board committee, that will be headed by Matthew Johnson, Ph.D.

Johnson is a Johns Hopkins professor of psychiatry and behavioral sciences, who has been one of the leading figures of psychedelic research and treatment development in the past decade. Dr. Miri Halperin Wernli, a psychiatry clinician and a director on MindMed’s board, will chair the committee.

Former Canopy Growth Exec. Joined Psychedelics Company Board

Jon Cooper, former Canopy Growth CGC 0.1% Deputy Managing Director of U.S. Operations, was named Director of the Board at CaaMTech on Feb. 26.

Cooper founded Ebbu, a Colorado-based cannabis company in 2013. The company was acquired by Canopy Growth in 2018 by CA$429 million ($330 million), which were paid CA$25 million in cash, and the rest in Canopy Stock.

Israel Completed Phase III Clinical Trials on MDMA for PTSD

Two Israeli participants were the first to complete a Phase III clinical study using MDMA as a treatment for Post-Traumatic Stress Disorder, announced the Multidisciplinary Association for Psychedelic Studies (MAPS) on Feb. 26.

The study will be complemented with patients from the U.S. and Canada, and is expected to be completed by 2021. Dr. Keren Tzarfaty, Clinical Investigator, Training Supervisor, and Director of Israeli Projects and Collaborations with MAPS said that MDMA-assisted psychotherapy can have a great impact on patients who suffer from traumatic experiences such as war or sexual assault. Given Israel’s current and historical condition of political instability, it is believed that over 10% of the Israeli population experiences PTSD in relation to war and war-related violence.

Read the full article Benzinga