Saturday, May 31, 2025

Latest

MindMed Acquires HealthMode For $41.6 Million

MindMed (NEO: MMED) this morning announced that it will be acquiring that of HealthMode in a largely stock-based transaction. HealthMode is a digital medicine and therapeutics startup focused on the use of artificial intelligence to improve the precision and speed of clinical research and patient monitoring.

The acquisition will reportedly see the company strengthen its executive team, with the appointment of Daniel R Karlin, MD and MA, to the role of chief medical officer, while Bradford Cross, whom is reportedly an AI and machine learning expert, will take on the role of chief technology officer. The acquisition will also see the company acquire all IP, platforms for clinical drug trials, and the entire staff of HealthMode.

The platform will reportedly be integrated with MindMed’s recently established digital medicine division, known as Albert. Commenting on the acquisition and the justification for the hefty purchase, CEO J.R. Rahn stated, “In effect, we see a future mental health treatment paradigm where potential drug products such as our LSD experiential therapy might be prescribed right alongside software application programming interfaces (APIs) to prepare the patient for treatment and optimally monitor the after-care of one’s anxiety disorder.

The acquisition comes with a hefty price tag, with the company issuing 82,508 multiple voting shares, which based on yesterday’s closing price have a current value of roughly $41.3 million, as well as a cash portion of $300,000.

The transaction is expected to close by the end of February 2021.

MindMed last traded at $5.13 on the NEO.


Information for this briefing was found via Sedar and MindMed. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Activist Investor Calls For MindMed CEO’s Termination Due To Alleged Fraudulent Acts

FCM MM Holdings, one of Mind Medicine’s (NEO: MMED) shareholders with a 6.1% stake, has...

Thursday, November 3, 2022, 03:10:00 PM

Mind Medicine Sees CEO Sell $24.7 Million In Company Stock

It appears that uplisting to the Nasdaq is good for business. Or, at least for...

Wednesday, May 26, 2021, 10:14:37 AM

JR Rahn: Using LSD To Treat Mental Health – The Daily Dive

For our Saturday edition of The Daily Dive, host Cassandra Leah sits down with that...

Saturday, March 20, 2021, 01:30:00 PM

Mind Medicine Announces $50 Million Bought Deal Financing Days After Raising $34.5 Million

Mind Medicine (NEO: MMED) is raising even more cash. The company this evening announced that...

Monday, December 14, 2020, 08:43:58 PM

Mind Medicine Closes The Year Out With Further Management Departures

Mind Medicine (NEO: MMED) has seen further management departures, following the departure of its CEO...

Wednesday, December 29, 2021, 08:38:09 AM