MindMed Concludes Phase 1 Clinical Trial Of Psychedelic Derivative Drug For Opioid Use Disorder

Mind Medicine Inc. (NEO: MMED), more commonly known as MindMed, has recently concluded the phase 1 clinical trial for its drug candidate 18-MC. The company’s proprietary molecule, a non-hallucinogenic derivative of psychedelic ibogaine, is being developed as treatment for opioid use disorder.

“While ibogaine has been used and studied as a treatment for opioid addiction, its efficacy, while promising, has been overshadowed by significant safety concerns,” said CEO Robert Barrow. “Our proprietary molecule, 18-MC, has indicated an encouraging safety profile and preclinical efficacy data.”

The phase 1 trial was conducted in a clinical research site in Perth, Australia where healthy subjects were administered with the drug candidate to determine “[its] safety, tolerability, pharmacokinetics, and effects on cognitive activity.”

The biotech firm expects the topline results of the trial to be released in early 2022.

Mind Medicine Inc. last traded at $1.74 on the NEO.

Information for this briefing was found via Sedar and the companies mentioned. 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.

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