Mind Medicine Inc. (NEO: MMED), more commonly known as MindMed, announced today the start of Phase 1 clinical trial on the psychedelic drug DMT. The trial aims to assess the safety, pharmacokinetics, and pharmacodynamics of the psychedelic substance.
The company relayed that the first phase of the clinical trial has already secured all necessary regulatory approvals in Switzerland. The initiative is an investigator-initiated study by Dr. Matthias Liechti as part of MindMed’s ongoing collaboration with the University Hospital of Basel’s Liechti Lab.
MindMed plans to explore the possibility of using the intravenous method in administering DMT to induce a more stable and prolonged experience. This administration method may also “allow greater control of the patient experience by enabling an acute termination of the psychoactive effects of DMT.” The first phase of the trial will involve 30 healthy subjects in a randomized 5-period crossover, double-blind, placebo-controlled design.
“Currently, no study has validly determined the elimination half-life of DMT or other pharmacokinetic parameters and our study will provide valuable information for future research on DMT as a tool to examine alterations of the mind,” said MindMed Executive President Dr. Mimi Halperin Wernli.
The biotech firm is interested in the potential advantages of DMT as a short-acting psychedelic in developing it as a drug candidate. The substance also has a rapid onset and offset compared to the longer-acting psychedelic substances psilocybin and LSD.
Should the first phase be completed successfully, the results will inform the design of the second phase which will include clinical trials involving actual patients.
In May 2021, MindMed also secured the approval for clinical trial plans to evaluate the acute effects of serotonergic hallucinogen mescaline. The trial is also set to transpire at the University Hospital of Basel’s Liechti Lab.
Mind Medicine Inc. last traded at $3.85 on the NEO.
Information for this briefing was found via Sedar and MindMed. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.