EXCLUSIVE: MindMed CEO Talks Mission To 'Discover, Develop And Deploy' Psychedelics

Mind Medicine Inc MNMD was started to address mental wellness, CEO and co-founder J.R. Rahn told Benzinga's Global Small Cap Conference Thursday.

MindMed is discovering and developing new and existing psychedelic molecules as medicines through the FDA pathway, Rahn said, adding that the company is focused on getting classic psychedelics like LSD into clinical trials to prove safety and efficacy.

MindMed ultimately wants to focus on building infrastructure to deliver psychedelic medicines and creating technologies that help scale drug launches, he said.

Psychedelics For Mental Well-Being: The company's mission is to "discover, develop and deploy" classic psychedelics, Rahn said, noting the company is in the discovery and development phase of the process.

Classic psychedelics include substances like LSD, psilocybin and MDMA, he said, adding that these substances are relatively safe compared to other illicit drugs.

The company is not interested in making these substances into recreational products, Rahn said; instead, it wants to help people who are suffering, he told Benzinga.

The world is in a mental health crisis and MindMed aims to solve it, Rahn said.

MNMD Price Action: MindMed has traded as high as $5.77 and as low as $2.85 over a 52-week period. At last check Thursday, the stock was up 4.62% at $3.06.

Image by Mohammad Mahir Borhan from Pixabay.