Mind Medicine Inc., a psychedelics-based medicine startup closed a $24.2 million funding before to go public today through a reverse takeover of Broadway Gold Mining on the NEO Exchange, based in Toronto. Mindmed open this morning at $0.60 and closed at $0.405 with 13.65M volume.
Former Canopy CEO and board member of Mind Medicine Inc, Bruce Linton sees the opportunity for psychedelics as medicine as similar to the outlook for medicinal cannabis years ago, where regulations were starting to ease in some jurisdictions, opening the door for research.
“This is the next step in using cutting edge research, medicine and science to begin helping and curing people who have been affected by the opioid crisis,”– said Mindmed Co-Founder and CEO Stephen Hurst.
Mindmed 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”)
Mr. Rahn (co-CEO) says MindMed is developing what he hopes will become the “antibiotic for addiction,” based on a nonhallucinogenic derivative of ibogaine, a psychoactive compound that has been used for more than 50 years to treat addiction.
The market is at its very beginning and reminds the cannabis market before legalization. Investors will probably be there so as not to miss the huge opportunity ahead.
With more than 255 million shares issued, MindMed has a market value today of more than $102 million.
Other company in the psychedelic market
Other companies enter into psychedelic market with much more potential for investors like Revive Therapeutic | RVV with a market value of only $4 Million.
Revive Therapeutic | RVV just entered into LOI to acquire Psilocin Pharma Corp who has novel methods of production of Psilocybin-based formulations with six unique formulations for both natural and synthetically derived Psilocybin.
RVV has a market value of only $4 Million.
Revive Therapeutic | RVV targets Mental Health (450mm population), eating Disorders (70mm population) and addiction (240mm population)
In addition, Revive Therapeutic has 4 Exclusive licenses to patents in delivery system and liver disease and 2 FDA orphan drug designation for CBD in treatment of AIH and prevention IRI from solid organ transplantation. A market of more than $180 billion.
View the profile of Revive Therapeutic | HERE
LAST ALERT MADE MORE THAN 170% TO DATE. DONT MISS THE NEXT !
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