MindMed awarded Innovation Passport for MM120
US brain health focused Mind Medicine (Nasdaq: MNMD; MindMed) yesterday announced that MM120 ODT, a pharmaceutically optimized form of lysergide D-tartrate (LSD), has been granted an Innovation Passport for the potential treatment of generalized anxiety disorder (GAD) under ILAP by the UK Medicines and Healthcare products Regulatory Agency (MHRA).
The Innovation Passport is the entry point to the Licensing and Access Pathway (ILAP), which aims to accelerate time to market and facilitate patient access to medicines in the UK, said MindMed, whose shares closed down almost 5% at $7.11 despite the positive development.
According to InvestingPro data, the company has demonstrated remarkable market performance, with its stock surging over 104% year-to-date. This designation serves as the first step in the ILAP, the analyst noted.
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