Biomind Labs Inc Stock Price, News & Analysis

Biomind Labs has developed a novel sublingual formulation for its 5-MeO-DMT-based drug candidate BMND08, aimed at treating depression and anxiety in Alzheimer's patients. This formulation is designed for easier administration, especially in geriatric patients with swallowing difficulties. The company plans to begin its Phase II trial shortly after the initial batch is delivered. CEO Alejandro Antalich emphasizes the importance of addressing neurodegenerative diseases, highlighting the potential for improving patients' quality of life.

Biomind Labs has received FDA clearance for its New Chemical Entity Triptax™, marking a significant advancement in its clinical pipeline for treating treatment-resistant depression. The company also announced a loan facility of up to US$3,000,000 from its largest shareholder, Union Group Ventures Limited, intended for working capital. This facility will be repaid within 12 months and may involve issuing common shares. The company’s unaudited financial results for Q3 2022 are available on its SEDAR profile.

Biomind Labs Inc. announced positive initial results from part I of its Phase II trial for BMND01, a novel liquid inhaled formulation of DMT aimed at treating Treatment-Resistant Depression (TRD). The trial involved 30 volunteers and was the largest study using inhaled DMT, with no serious adverse events reported. The study demonstrated that the DMT inhalation experience could be completed in just 10 minutes. The company plans to scale treatments by creating specialized centers for DMT administration, improving access to psychedelic medicine.

Biomind Labs Inc. (OTC: BMNDF) announces the granting of a Pre-Investigational New Drug (Pre-IND) meeting by the FDA for their new chemical entity, Triptax™, aimed at treating Treatment-Resistant Depression. This meeting marks a significant step in advancing their clinical pipeline in the U.S. The company submitted a briefing package to the FDA and anticipates further guidance on their NCE development plan. CEO Alejandro Antalich emphasized the importance of this milestone, highlighting their focus on finalizing clinical data from their Phase II trial for their drug candidate BMND01.

Biomind Labs Inc. has secured a Controlled Substances License and initiated an eight-month project to develop novel hydrogel-forming microneedle arrays for transdermal delivery of psychedelic compounds like DMT and mescaline. Partnering with Queen’s University of Belfast, the project aims to enhance drug delivery efficacy while potentially broadening the market for treatments of inflammation, pain, and neurodegenerative disorders. This collaboration could strengthen Biomind's intellectual property portfolio and innovate drug delivery systems.

Biomind Labs has finalized the dose administration for 30 subjects in its Phase II trial of BMND01, aimed at treating Treatment-Resistant Depression. Results are expected in October 2022. This clinical trial explores an inhaled DMT formulation, intending to enhance rapid delivery into the bloodstream. Treatment-resistant depression affects 10-30% of patients, presenting significant healthcare challenges. Biomind Labs focuses on developing pharmaceutical formulations of psychedelics to offer modern treatments for various neurological and psychiatric conditions.

Biomind Labs Inc. has appointed Dr. Thomas Laughren as Medical Advisor for Clinical Trials. Dr. Laughren, former FDA Director for the Division of Psychiatry Products, brings extensive regulatory experience to the company. This addition aligns with Biomind's plans to enter the registration process for drug candidates with the FDA and EMA. The company is focused on developing psychedelic-based pharmaceuticals targeting conditions like depression and Alzheimer's, having submitted 20 patent applications to protect its innovations.

Biomind Labs Inc. announced the approval of a third Phase II clinical trial for its BMND08 candidate, which utilizes 5-MeO-DMT to treat depression and anxiety in patients with Alzheimer’s-type cognitive impairment. The trial, approved by the Argentinian Institutional Review Board, aims to explore innovative treatments addressing the urgent need for effective solutions in managing Alzheimer’s symptoms, including agitation and anxiety. CEO Alejandro Antalich emphasized the significance of this development in combining fast-acting psychedelic molecules with existing clinical practices.

Biomind Labs announced that CEO Alejandro Antalich will debate at the PSYCH Symposium in London on May 11, 2022. The symposium focuses on the potential of psychedelic healthcare. Antalich highlighted the importance of this discussion and expressed respect for UK Prime Minister Boris Johnson's consideration of psychedelic drug legalization. The company aims to develop pharmaceuticals using psychedelic molecules to address mental health disorders, emphasizing the need for further research to aid nearly one billion affected individuals.