NEW YORK, May 18, 2021 /PRNewswire/ -- Mind Medicine
(MindMed) Inc. (NASDAQ: MNMD) (NEO: MMED) (DE: MMQ) ("MindMed" or
the "Company"), a leading clinical stage psychedelic medicine
company, today announced it has entered into a letter of intent to
partner with The Chopra Foundation to educate and build public
awareness around the use of psychedelic medicines to treat mental
illness, remove outdated stigmas, and ultimately research mental
wellbeing approaches that can be used in psychedelic related
psychotherapy.
The two organizations plan to design and conduct research
together surrounding altered states of consciousness, psychedelic
psychotherapy, and their overall impact on mental wellbeing. Beyond
psychedelics, as part of this research, MindMed intends to explore
ways for therapists to integrate evidence-based digital
therapeutics and digital measurement technology into their routine
practice. In addition, MindMed and the Chopra Foundation plan to
advance research that targets understanding the role that the
mind-body connection, metabolic health, psychedelics, and deeper
understandings of consciousness can play into maintenance of
overall wellbeing and mental health.
"Deepak is a thought leader on consciousness, integrative
medicine, and wellness. We hope that this letter of intent will
allow The Chopra Foundation and MindMed to pioneer new modalities
that go beyond the treatment of mental illness to also focus on our
overall well being, both mental and physical" said J.R. Rahn, CEO
and Co-founder of MindMed. "Ultimately, we believe psychedelics can
act as catalysts in a person's journey toward their best health,
but it is also important that we come to deeply understand
consciousness and altered states of consciousness as we advance the
growing field of psychedelic medicine through rigorous
research."
May, as Mental Health Awareness month, is also a time to
remember that there has not been a transformative breakthrough in
mental healthcare in the United
States in decades. America is facing a mental health crisis
and is in dire need of innovative treatment solutions. One in five
American adults endure the pain of mental illness each year, while
less than half of those in need receive treatment. MindMed is
aiming to solve the broad problems of anxiety, depression,
substance use disorders, and pain syndromes through the careful
study and clinical application of psychedelic medicines and digital
therapeutics.
"The Chopra Foundation is dedicated to improving the health and
well-being of humanity. Mental illness and psychedelics for far too
long have been associated with unnecessary stigmas. It's time we
shift our thinking and change the conversation in order to
positively address the needs of mental health and wellbeing."
stated Dr. Deepak Chopra, founder of
The Chopra Foundation.
Chopra and Rahn will also be speaking together on the role of
psychedelic medicines in treating mental health and wellbeing at
the Never Alone Summit on Friday, May
21st.
About The Chopra Foundation
The Chopra Foundation is a 501 (c) (3) organization
(#36-4793898) dedicated to improving health and well-being,
cultivating spiritual knowledge, expanding consciousness, and
promoting world peace to all members of the human family. For more
information, go to www.choprafoundation.org.
About MindMed
MindMed is a clinical-stage psychedelic medicine biotech company
that seeks to discover, develop and deploy psychedelic inspired
medicines and therapies to address addiction and mental illness.
The Company is assembling a compelling drug development pipeline of
innovative treatments based on psychedelic substances including
Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC.
MindMed trades on the NASDAQ under the symbol MNMD and on the
Canadian NEO exchange under the symbol MMED. MindMed is also traded
in Germany under the symbol
MMQ.
Forward-Looking Statements
Certain statements in this news release related to the Company
constitute "forward-looking information" within the meaning of
applicable securities laws and are prospective in nature.
Forward-looking information is not based on historical facts, but
rather on current expectations and projections about future events
and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. These
statements generally can be identified by the use of
forward-looking words such as "will", "may", "should", "could",
"intend", "estimate", "plan", "anticipate", "expect", "believe",
"potential" or "continue", or the negative thereof or similar
variations. Forward-looking information in this news release
include statements regarding the letter of intent, the intention to
educate and build public awareness around the use of psychedelic
medicines, the plan to design and conduct research, the intention
to explore integration of digital therapeutics and digital
biomarkers, plan to advance research, and the Company's intended
future business plans and operations, including the development of
psychedelic inspired medicines and experiential therapies. Although
the Company believes that the expectations reflected in such
forward-looking information are reasonable, such information
involves risks and uncertainties, and undue reliance should not be
placed on such information, as unknown or unpredictable factors
could have material adverse effects on future results, performance
or achievements of the Company. There are numerous risks and
uncertainties that could cause actual results and the Company's
plans and objectives to differ materially from those expressed in
the forward-looking information, including the letter of intent is
non-binding and there is a risk that the Company will not be able
to negotiate a definitive agreement with The Chopra Foundation;
risk associated with early-stage research programs; history of
negative cash flows; limited operating history; incurrence of
future losses; availability of additional capital; lack of product
revenue; compliance with laws and regulations; difficulty
associated with research and development; risks associated with
clinical trials or studies; heightened regulatory scrutiny; early
stage product development; clinical trial risks; regulatory
approval processes; novelty of the psychedelic inspired medicines
industry; as well as those risk factors discussed or referred to
herein and the risks described under the headings "Risk Factors" in
the Company's filings with the securities regulatory authorities in
all provinces and territories of Canada which are available under the Company's
profile on SEDAR at www.sedar.com and with the U.S. Securities and
Exchange Commission on EDGAR at www.sec.gov. Should one or more of
these risks or uncertainties materialize, or should assumptions
underlying the forward-looking information prove incorrect, actual
results and future events could differ materially from those
anticipated in such information. Although the Company has attempted
to identify important risks, uncertainties and factors that could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended.
These and all subsequent written and oral forward-looking
information are based on estimates and opinions of management on
the dates they are made and are expressly qualified in their
entirety by this notice. Except as required by law, the Company
does not intend and does not assume any obligation to update this
forward-looking information.
Media Contact: mindmed@150bond.com
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SOURCE Mind Medicine (MindMed) Inc.