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Mind Medicine (MindMed) Inc
Symbol MMED
Shares Issued 315,913,668
Close 2020-06-17 C$ 0.40
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MindMed to research DMT with University Hospital Basel

2020-06-18 07:45 ET - News Release

Mr. J.R. Rahn reports

MINDMED TO EVALUATE AYAHUASCA'S ACTIVE INGREDIENT DMT IN PHASE 1 CLINICAL TRIAL COLLABORATION

Mind Medicine (MindMed) Inc. will now pursue N,N-dimethyltryptamine (DMT), the principally active ingredient in ayahuasca, as part of its research and development collaboration with the University Hospital Basel's Liechti Lab. MindMed is providing start-up financing for a phase 1 clinical trial testing various intravenous dosing regimens of DMT, expected to begin in the fourth quarter of 2020.

DMT is a naturally occurring psychedelic substance and is the active ingredient used in ayahuasca ceremonies by indigenous Amazonian shamanic practitioners. DMT causes a rapid onset and offset of action compared with similar psychedelic substances such as psilocybin or LSD (lysergic acid diethylamide). When administered as an ayahuasca brew, natural substances are mixed with DMT to prolong its experiential effects and slow the metabolism in the human body.

MindMed co-founder and co-chief executive officer J.R. Rahn said: "There is a growing trend in Western society to use ayahuasca and DMT to facilitate a healing process for one's mind. However, there is very limited safety data and clinical trials evaluating DMT as a potential medicine so we are going to double down on understanding the therapeutic opportunity and more effective ways to administer DMT in a controlled setting to achieve this healing process."

Through this phase 1 clinical trial, MindMed and the Liechti Lab are exploring how DMT can achieve experiential effects similar to ayahuasca by testing a more controlled intravenous dosing method.

There is non-clinical, anecdotal evidence which suggests DMT and ayahuasca's experiential effects are powerful healing tools for addiction disorders. The human safety data and associated know-how gathered in this phase 1 clinical trial will better enable MindMed's clinical team to design future potential commercial drug development programs based on DMT sessions.

DMT is rapidly metabolized as it enters the body if taken orally and therefore it only has a very short duration of action. In contrast through a continuous intravenous perfusion application the effect is longer but can be stopped rapidly. In order to potentially induce a stable DMT experience lasting one to two hours, an intravenous dosing regimen including a starting dose and then a maintenance dose will be evaluated in this phase 1 clinical trial. This intravenous administration may also allow therapists to induce and to end an experiential state safely and more quickly as required.

Currently, no study has validly determined the elimination half-life of DMT and other pharmacokinetic parameters and there are limited known data on dosing regimens of pure DMT. This phase 1 double blind placebo controlled five-period crossover design study will provide a well-controlled study setting to illuminate these shortcomings in the current clinical understanding of DMT and pave the way for future phase 2a proof-of-concept efficacy studies in various indications.

About Mind Medicine (MindMed) Inc.

Mind Medicine (MindMed) is a neuropharmaceutical company that 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 ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for adult ADHD.

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