MindMed Completes Dosing 18-MC Phase 1 Study

NEW YORK, NY, USA I July 28, 2020 I Mind Medicine (MindMed) Inc. (NEO: MMED OTCQB: MMEDF), the leading psychedelic pharmaceutical company, has concluded dosing in a Phase 1 Single Ascending Dose (SAD) study of 18-MC. The dosing of 18-MC was well tolerated in humans and will help advance planning for a Phase 2a clinical trial in opioid addiction. Further, the study has not incurred any delays due to the COVID-19 pandemic and the Multiple Ascending Dose (MAD) study is on track according to the original development timeline.

18-MC is a non-hallucinogenic molecule based on the psychedelic substance ibogaine. The study tested doses ranging from 4mg to 16mg twice a day and all participants were evaluated for pharmacokinetics and safety.

MindMed's addiction treatment unit is currently focused on developing novel medicines inspired by psychedelics for addiction to address the growing opioid crisis in both Canada and the United States. The US opioid crisis is estimated to cost the US economy over $500 billion annually.

MindMed Co-Founders and Co-CEOs Stephen Hurst and JR Rahn: "The successful and on-time completion of dosing in this Phase 1 study for 18-MC is an important first step in our company's mission to alleviate systemic societal problems with addiction and mental health using psychedelic inspired medicines. We are very pleased with the initial dosing outcome of this Phase 1 SAD study. It gives our clinical team confidence as we advance preparations to begin our Phase 2a clinical trial and hope for millions of patients suffering from opioid addiction."

MindMed plans to begin the Phase 2a study of 18-MC in opioid addiction by the end of this year.

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 has initiated or is initiating studies to evaluate potential treatments to help patients with ADHD, anxiety, cluster headaches and substance abuse. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. 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:MMQ. For more information: www.mindmed.co.

SOURCE: MindMed

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