Mind Cure Closes $18M Raise
The company issued approximately 38 million units, consisting of one share and one half of a share purchase warrant, at CA$0.60 per unit.
The proceeds will be used to finance product research and development, advance the company’s technological capabilities, marketing expenditures and product awareness, as well as for working capital.
So far, Mind Cure has raised almost CA$31 million ($24.4 million) to date. The company’s operations are divided between five spheres, which include:
- A line of non-psychedelic supplements using functional mushroom formulations that are already available to consumers.
- Research on novel molecule and protocol identification.
- Research on psilocybin, ketamine and ibogaine, with a focus on pain, cluster headaches, migraine, neuropathic pain, neuroregeneration and performance.
- cGMP production of psychedelic molecules.
- Digital therapeutics, including the iSTRYM platform, a tech platform for mental health and psychedelic research, which will go into beta test mode in the second quarter of this year and is expected to be fully deployed by the end of the year.
MindMed Dives Into Psychedelics 2.0
MindMed (NEO: MMED) (OTCQB: MMEDF) inked a new partnership with MindShift Compounds AG, a Swiss startup working in the development …