Full Press Release Details
The Chopra Foundation and MindMed Enter Into
Letter of Intent to Partner on the Future of Psychedelic Medicines & Mental Wellbeing
York, NY - May 18, 2021 - 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the use of psychedelic medicines to treat mental illness, remove outdated stigmas, and ultimately research mental wellbeing approaches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.
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.
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."
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.
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.
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.
The Chopra Foundation
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.
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.
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.
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
Contact: mindmed@150bond.com