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Jamon Rahn left in 2021 and has since started and is Head Honcho at Rahn Capital Advisors LLC ( LinkedIn profile).
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Stephen Hurst did resign from MindMed earlier this year, but as he owns 9% of MindMed, he probably is not involved. Jamon Rahn and Stephen Hurst founded MindMed, and their names do not appear anywhere in the MindMed Zone. The landing page has a psychedelic background, which keeps changing, and a strange statement about the founders returning. The website is a psychedelic experience in itself. Re-appoint Scott Freeman as Chief Medical officer.Ī visit to the FCM website, MINDMED Zone, reveals that FCM is led by two names we have heard quite a bit of in this story.They have several requests, but I will list two for the story's sake. MindMed will have weighed the fact that 18-MC is now off patent, so the possibility of making any money from it is pretty limited, and the fact that 18-MC has been pushed back by NIDA and the FDA.Īn activist group called FCM, claiming to represent +5% of shareholders in MindMed, wrote to the directors of MindMed an open letter.
#STOCK ICONS DRUG DISCOVERY FULL#
Discussions with the FDA led MindMed to believe that it would be too expensive to gather the evidence the FDA needed to approve a full trial. It became their flagship drug, given priority status, and advanced to phase 1 trial.Įarlier this year, MindMed announced that it was shelving MC-18. Scott Freeman became Chief Medical Officer at MindMed, he was in post for one year, and during his tenure, MindMed acquired 18-MC from Savant. After three years, NIDA refused an application for further funding, and the project stopped.
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Scott Freeman, the chief medical officer, was the lead investigator on this research. Savant received a grant for $6.8 million in 2013 from NIDA to develop 18-MC, that money paid for three years of research looking at 18-MC and Cocaine addiction. Obiter, run by Chad Boulanger and his brother Bill linked up with Savant HWP( where Chad was also a director), a health and wellness pharmaceutical company founded in 2000. Obiter research, a specialty chemical company, based in Illinois, licensed 18-MC from Albany Medical College and began the search for the money to get the drug through FDA trials and authorized for use. Ibogaine is a naturally occurring psychedelic drug believed to have anti-addiction properties. Stanley Glick at Albany Medical College around 1995. It all begins with a compound called 18-Methoxycoronaridine or 18-MC for short it is an Ibogaine derivative invented by Dr. I will begin with the MEME stock status it is an excellent insight into the people and products behind MindMed It took some digging out, but here is the story of the first psychedelic meme stock rally. I think the only thing it will do in the coming years is spend its cash pile before asking shareholders for more money. I believe that these events are hiding a company with very little value and a poor business model.
![stock icons drug discovery stock icons drug discovery](https://image.shutterstock.com/image-vector/medical-healthcare-icons-people-charting-260nw-1248136870.jpg)
Recently, it has seen a surge in stock price powered by a MEME stock rally and a reverse stock split. ( NASDAQ: MNMD) is a biotech company developing drugs to treat brain disorders focused on using Psychedelic compounds.
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