Updated 3 years ago
Drugmaker is pursuing trials of hallucinogen’s efficacy for treating addiction, other mental-health conditions
By Shalini Ramachandran
Feb. 27, 2020 11:49 am ET
JR Rahn, co-founder of MindMed, which is pursuing trials of a non-hallucinogenic treatment for addiction derived from the psychoactive compound ibogaine.
Mind Medicine Inc., a psychedelics-based medicine startup backed by Shark Tank’s Kevin O’Leary, closed a $24.2 million funding round ahead of plans to go public next week.
It is the first among a new crop of companies pursuing psychedelics-based therapies to go public, in a test of investors’ appetite to back drugs that have shown promise in treating mental-health ailments but remain illegal in many countries including the U.S.
Full article:
https://www.wsj.com/articles/psychedelics-therapy-startup-raises-24-million-ahead-of-ipo-11582822163
