MindMed Acquires Exclusive License to Eight Clinical Trials of LSD, Partners with World-Leading Psychedelic Research Laboratory at University Hospital Basel

BASEL, Switzerland, April 1, 2020 /PRNewswire/ -- Mind Medicine (MindMed) Inc. (NEO: MMED OTC: MMEDF), the leading neuro-pharmaceutical company for psychedelic inspired medicines, today announced the signing of a multi-year, branch exclusive collaboration with the laboratory of Professor Dr. Matthias Liechti, the world-leading psychedelics pharmacology and clinical research group at University Hospital Basel in Switzerland.

Under the agreement, MindMed gains exclusive worldwide rights to data, compounds, and patent rights associated with the Liechti laboratory's research with LSD and other psychedelic compounds, including data from preclinical studies and eight completed or ongoing LSD clinical trials. MindMed has already begun working with Professor Dr. Liechti's laboratory to file patents for the data and clinical trials it has generated over a 10-year period.

MindMed is particularly interested in the data and outcome of an ongoing placebo controlled Phase 2 trial of high dose LSD for the treatment of anxiety. The active arm of the Phase 2 trial is evaluating two single-dose administrations of LSD for the treatment of persons suffering from anxiety symptoms. MindMed is contemplating the creation of a drug development program using hallucinogenic doses of LSD for the treatment of anxiety disorders.

"It's a wonderful moment for our company to be recognized by Professor Dr. Liechti, the leading expert of LSD research in the world, as the right team to partner with in continuing our development of psychedelic inspired medicines," said MindMed Co-Founder & Co-CEO JR Rahn. "This exclusive partnership puts MindMed at the forefront of efforts to develop LSD and other psychedelics while also setting the tempo and caliber of our growing IP portfolio and clinical trial pipeline."

Basel, Switzerland is the birthplace of LSD and the University Hospital Basel, the world's leading center for LSD research, is led by Professor Dr. Matthias Liechti, a professor for clinical pharmacology and internal medicine at the University of Basel and an attending physician at the Division of Clinical Pharmacology and Toxicology of the University Hospital Basel where he also heads the psychopharmacology research group.

MindMed will support ongoing and planned clinical trials under the direction of Professor Dr. Liechti, including MindMed's planned micro-dosing study of LSD as a potential treatment for adult ADHD. Professor Dr. Liechti will have primary responsibility for development of the selected compounds, and MindMed will provide research funding and milestone payments in return for the exclusive license to existing and future data and IP generated from these clinical trials. The University Hospital Basel will receive royalties and development revenue on any products marketed through the collaboration.

"Over the past decade we have amassed the largest collection of clinical trials around LSD; we have been studying the pharmacology and potential medical uses of LSD and other psychedelics for many years in the laboratory, in patients, and in healthy volunteers," said Professor Dr. Liechti. "MindMed is the leading company with a similar mission to ours to use rigorous research and science to create mainstream medicines for neuro-psychiatric conditions. This collaboration now allows us to greatly accelerate our groundbreaking research."

About Liechti Laboratory (University Hospital Basel)

Liechti Lab is based at the University Hospital Basel in Basel Switzerland. Founded in 1460, the University of Basel is the oldest university in Switzerland and has a history of success going back over 550 years. Liechti Lab's research focus is on the pharmacology of psychoactive substances in vitro and in humans. The Laboratory investigates the pharmacokinetics-pharmacodynamics of MDMA, LSD, and amphetamines in humans including psychological tests, pharmacogenetics, and functional brain imaging.

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company's immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for Adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co.

MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTC: MMEDF and in Germany under the symbol DE:BGHM.

Cautionary Statements and Disclaimer: This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies of MindMed, the anticipated date of completion of the LSD high-dosing studies, the success of other clinical trials and the ability to use the information relating to, or obtain patents or other intellectual property protection on, other data and clinical trials generated by the laboratory of Professor Dr. Liechti. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MindMed to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in MindMed's management's discussion and analysis for the period from May 30, 2019, date of incorporation, to December 31, 2019 ("MD&A"), dated March 30, 2020, which is available on MindMed's website and the company's profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and MindMed disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

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Media Contact: Anna Walsh
E: mindmedpr@pacepublicrelations.com
P: 212-254-4730

Investor Relations: invest@mindmed.co

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