How this company uses drugs and psychedelic therapies to treat addiction and mental illness


Courtesy of: MindMed

The following post was written and / or published as part of a collaboration between Benzinga’s internal sponsored content team and a Benzinga financial partner.

Despite the fact that approximately 450 million people worldwide suffer from mental illness, accessing mental health care remains a challenge in most parts of the world, including the United States. There is an urgent need for new and innovative ways to deliver treatment.

Medicine of the mind inc. (NASDAQ: MNMD) (NEO: MMED), known as MindMed, is dedicated to developing innovative therapies assisted by psychedelics. Its drug pipeline includes trials related to psilocybin, LSD, MDMA, N, N-dimethyltryptamine (DMT) and an ibogaine derivative, 18-methoxycoronaridine (18-MC), to help to treat mental health problems.

MindMed is a clinical-stage psychedelic medicine biotechnology company that seeks to discover, develop and deploy psychedelically inspired drugs and therapies to combat addiction and mental illness. The company brings together a team of experts with extensive biopharmaceutical experience to develop the next generation of psychedelically inspired drugs and therapies.

MindMed to the rescue

About 21 million Americans struggle with at least one form of substance use disorder. However, only 10% of the population are currently receiving treatment. Drug addiction is a chronic disease of the brain that arises from the neurology of the brain, driven by a series of pathological processes, including the disruption of dopamine, a potent neurotransmitter, in the reward / pleasure center of the brain.

MindMed is developing the psychedelic drug 18-MC to treat the neurological basis of addiction. It aims to develop and deploy treatments for intentional relapses, which is one of the most common and difficult aspects of substance use disorders.

The company uses 18-MC to treat addiction without the potential hallucinogenic and negative side effects of ibogaine by correcting the disruption of the brain’s reward / pleasure center.

Prescribed opioids such as hydrocodone, oxycodone, and morphine are the most common way to treat patients with severe acute pain. However, as awareness of opioid-related deaths and addiction continues to grow, physicians find themselves in a difficult position when treating patients.

Reducing the daily dose for patients prescribed opioid therapy – a process called tapering off – has been unsuccessful in some patients because it leads to worsening pain and depressed mood.

Earlier this year, MindMed launched a research project called Project Angie to study the treatment of pain using psychedelics. The company believes that psychedelics may offer an entirely different way of dealing with pain, which could then offer patients a new treatment option.

With Project Angie, MindMed seeks to improve mental health and fight drug addiction in patients in need by providing a substitute for the use of addictive opioids that are currently devastating society.

As anxiety diagnoses continue to grow at an alarming rate, new multidimensional solutions to this problem are urgently needed rather than relying on traditional approaches to mental health care. Through Project Lucy, MindMed is tackling anxiety and the appalling effects that can accompany it, such as addiction to anxiety medications, with LSD-assisted therapy.

The Lucy Project is studying the hallucinogenic dosage of LSD to treat anxiety, administered by a therapist. LSD increases brain communication and supports talk therapy by expanding the mind and minimizing inhibitions. MindMed has already acquired the rights to a phase 2 clinical trial in anxiety from the Liechtenstein laboratory at the University Hospital Basel, led by Dr Peter Gasser and Dr Matthias Liechtenstein.

Psychedelics and the financial market

The world’s first psychedelic exchange-traded fund (ETF) began trading on the Canadian NEO Exchange in January, giving investors exposure to 17 publicly traded companies focused on psychedelics, including MindMed. MindMed’s stock has climbed 250% 3 months after launch.

Psychedelics have also caught the attention of popular figures like Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk. In a recent interview for CodeCon 2021, Musk praised the future growth and acceptance of psychedelics. Analysts believe Musk’s support for psychedelics will have serious positive effects on the market – in the same way he influenced the crypto markets.

The psychedelic drug industry is currently worth nearly $ 2.8 billion, but is growing rapidly and is expected to reach $ 7.6 billion by 2028, according to a study by Data Bridge Research.

The foregoing post was written and / or published as part of a collaboration between Benzinga’s internal sponsored content team and a Benzinga financial partner. While the article is not and should not be construed as editorial content, the Sponsored Content team ensures that all information in it is true and accurate to the best of their knowledge and research. This content is for informational purposes only and is not intended to be investment advice.

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