Tuesday, August 16, 2022
Published 1 Year Ago on Monday, Mar 01 2021 By Inside Telecom Staff
MindMed, an innovative psychedelic drug developer, has bought HealthMode, a machine-learning digital medicine company.
MindMed, the psychedelic medicine biotech company, announced in a release that it closed its acquisition of HealthMode, a digital medicine and therapeutics startup that uses Artificial Intelligence (AI)-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring.
The combination of these two companies will foster advancement and development of the growing area of psychedelic medicine for psychiatric uses in post-trauma, addiction treatment and a variety of other mental illness problems.
“The HealthMode acquisition marks the start of MindMed 2.0 as we seek to not only build a drug development company for psychedelic medicines, but also a comprehensive mental health technology platform to one day potentially launch these transformative medicines to patients in a scalable manner,” MindMed co-founder and CEO J.R. Rahn said in a statement.
The acquisition will help build a full stack digital mental health platform for psychedelic medicines; Ex-Pfizer Digital Medicine Executive Dr. Daniel R. Karlin and former Google AI/ML industry veteran Bradford Cross added to MindMed executive team, the companies said in a joint release.
MindMed discovers, develops, and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC.
The MindMed executive team brings extensive biopharmaceutical experience to the company’s groundbreaking approach to developing the next generation of psychedelic inspired medicines and therapies.
HealthMode drives progression to next-generation clinical trials by developing and delivering AI-enhanced measurement methods for clinical trials. Its client partners represent a diverse set of stakeholders, from clinical researchers and drug developers at large pharmaceutical companies to academic medical centers, to startups entering the space.
The company’s AI-enhanced measurement techniques improve understanding of phenotype; streamline and provide assurance for screening and eligibility; provide early detection and mitigation of adverse events; and serve as sensitive, specific, objective, and low participant burden efficacy endpoints.
These measurements allow for meaningful integration of clinical trial data with real-world evidence and provide the basis for movement toward patient-specific measures.
Better measurement tools and the platforms to support them help HealthMode’s partners make data informed decisions, reduce uncertainty around enrollment and outcomes, de-risk development, and increase the speed at which novel therapeutics reach patients in need, according to HealthMode.
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