MindMed's mission is to be the global leader in the development and delivery of treatments that unlock new opportunities to improve patient outcomes. It is developing a pipeline of innovative drug candidates, with and without acute perceptual effects, targeting the serotonin, dopamine and acetylcholine systems.

In May 2022, the US company released positive top-line data from a Phase II placebo-controlled investigator-initiated clinical trial evaluating LSD in the treatment of anxiety disorders. The top-line data demonstrate the significant, rapid, durable, and beneficial effects of LSD and potential to safely mitigate symptoms of anxiety and depression.

This is the first modern study of any psychedelic to show significant, rapid, durable, and beneficial effects and the potential to safely mitigate symptoms of anxiety and depression up to 16 weeks post treatment.

For MindMed, LSD is just one of several efforts to advance the development of psychedelic-inspired drugs. The company is actively developing 18-MC, a non-hallucinogenic derivative ibogaine, a psychoactive indole alkaloid found in a West African shrub, for the treatment of opioid use disorder.

The company is also investigating R(-)-MDMA, a derivative of the compound often known as “Molly” or ecstasy, for “the treatment of social anxiety and functioning in diagnoses that include autism spectrum disorder.”