Mind Medicine Inc. (Mindmed), a leading neuro-pharmaceutical company focused on discovering and developing treatment medication based on psychedelics, has finalized the acquisition of the 18-MC drug development program, an anti-addictive molecule that was previously funded by the National Institute on Drug Abuse (NIDA). Mindmed acquired the project from Savant HWP Inc., whose leadership team of top researchers and drug developers will also join the company.
18-MC is based on the natural psychedelic substance, ibogaine, and is focused on addressing the opioid crisis and other forms of addiction. Historically, ibogaine has been successful in treating heroin addiction. 18-MC has been synthesized to be non-hallucinogenic, while maintaining ibogaine’s anti-addictive properties. Mindmed is now preparing 18-MC for a Phase II U.S. Food and Drug Administration clinical trial targeting opioid use disorder.
Psychedelic-inspired medicines create an opportunity to disrupt current approaches to the treatment of serious brain diseases including addiction and various forms of mental illness. The company plans on addressing the opioid crisis and other forms of addiction by developing next-generation versions of psychedelic substances such as LSD, psilocybin, and ibogaine. Mindmed is developing a diverse pipeline of drugs derived from these psychedelics to leverage their unique medicinal properties and benefits.
Mind Medicine, Inc., a neuro-pharmaceutical company, 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 compound ibogaine. The Mindmed executive team brings extensive biopharmaceutical industry experience to the groundbreaking approach to medicines development.
This was reported by Mind Medicine, Inc. on September 16, 2019.