MindMed To Buy AI Medicine Company HealthMode For CA$42M

MindMed (NEO: MMED) (OTCQB: MMEDF) agreed to buy HealthMode, an artificial intelligence medicine company, in a CA$41.56 million (US$32.5 million) stock and cash deal.

The psychedelic biotech company confirmed Thursday it will acquire a digital medicine and therapeutics startup that relies on artificial intelligence-equipped digital measurement to advance the precision and speed of clinical and patient monitoring.

Under the deal, MindMed is supposed to compensate the acquisition with the issuance of 82,508 multiple voting shares, worth around CA$41.25 million and with a $300,000 cash payment.

What’s In It For MindMed?

Through this purchase, MindMed will obtain rights to:

  1. HealhtMode’s Intellectual Property;
  2. Platforms for clinical drug trials;
  3. 24 person digital medicine team.

Furthermore, via this acquisition, MindMed will …

Full story available on Benzinga.com

More MindMed To Buy AI Medicine Company HealthMode For CA$42M