MindMed launches digital medicine division Albert to weave together technology and pschedelics

Mind Medicine (MindMed) Inc (NEO:MMED) (OTCQB:MMEDF) (FRA:MMQ), a psychedelic medicine company, is establishing a digital medicine division known as Albert, the company announced Tuesday.  The new division will work to develop and build an integrated technical platform and comprehensive toolset aimed at delivering psychedelic inspired medicines and experiential therapies combined with digital therapeutics, the company said. MindMed is currently recruiting a team of technologists, therapists and clinical drug development experts. MindMed defines digital therapeutics as evidence-based therapeutic interventions for patients to prevent, manage or treat a mental disorder or disease. Pairing digital tools, such as wearable technology and machine learning, with psychedelic assisted therapies can help healthcare providers better understand what patients are going through and what treatments would work best for them. READ: MindMed reports a current cash position of C$50.1M "We believe that the next frontier in psychedelic medicine will be to quantify with great precision psychedelic-assisted therapy's impact on patient populations,” Co-CEO JR Rahn said in a statement. “This new division will not only build apps, technologies and other platforms to help the patient, but hopefully also make the medical community comfortable with this novel treatment paradigm for mental health and addiction by measuring the potential value to their patient populations and ultimate savings to insurers." MindMed's clinical team is designing an experimental clinical trial that pairs non-hallucinogenic psychedelic-inspired medicines, such as microdoses of LSD, with digital therapeutics to track, engage and influence patient behavior. MindMed intends to announce full details of this clinical trial once the protocol design is complete. "This is a perfect moment for digital medicine solutions to come to patients to help support behavioral change, measure and enhance psychiatric care and health outcomes,” President and Head of Clinical Halperin Wernli said. “Our intention is to use digital therapeutics alongside pharmaceutical medicines to maximize one another's value to the patient and for the healthcare system. The two classes of medicine, along with psychotherapy and various forms of cognitive behavioral therapies, must be regarded as complementary to enhance outcomes, which will create new opportunities to improve quality of care and patient outcomes and drive behavior change at scale." MindMed is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic-inspired medicines and therapies to address addiction and mental illness, with a drug development pipeline of treatments based on psychedelic substances including psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com Follow him on Twitter @andrew_kessel