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Psychedelics Briefs: Mindcure, Novamind
Mindcure, a Vancouver-based firm that specializes in proprietary technology for mental health and research in psychedelics, announced this week that its board of directors has commissioned a special independent committee to initiate a broad strategic review. The process will encompass the company’s current direction, operations, market valuation, and capital structure.
Among potential directions that will be discussed:
- Continuing as a standalone public company
- Pursuing a strategic investor
- Acquisition by or merger with an industry partner
In a news release announcing the formation of the special committee, Mindcure board chairman said the board supports the organization’s current strategic priorities and noted the company is in a strong financial position, but “the board believes that given the current state of capital markets and the evolving landscape of our industry, a broad review of strategic alternatives is entirely appropriate and in the best interest of the company.”
Novamind Begins Enrolling Participants in Alto Clinical Trial
Novamind announced it has begun enrolling participants in a Phase II clinical trial to investigate an antidepressant medication for adults with major depressive disorder and post-traumatic stress disorder. The 8-week trial, being conducted at Novamind’s facility in Draper, Utah, is being sponsored by Alto Neuroscience.
Novamind is collecting data from participants between the ages of 18 and 64, including electroencephalography, behavioral task performance on a range of neurocognitive tasks, sleep and activity indices as measured by wearable devices, and genetic data to identify responses to the drug candidate, known as ALTO-100.
“Our expertise and infrastructure enable us to conduct industry-leading psychedelic trials, and we also have the capabilities and extensive experience to host clinical trials for a broad range of other drug candidates,” Paul Thielking, MD, Novamind’s chief scientific officer, said in a news release. “The Alto clinical trial is an important contribution to psychiatric drug development and the field of precision psychiatry.”
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