Mind Medicine (MindMed) Inc (NEO:MMED) (OTCQB:MMEDF) (FRA:MMQ), the psychedelic medicine company, has been included in two FTSE Russell indexes, it revealed Monday.
The New York-based company was added to the FTSE Global Micro-Cap Index, which represents $1.3 trillion in global market cap, and the FTSE Total-Cap index, representing $54.7 trillion in global market cap.
In a statement Monday, MindMed CEO JR Rahn called the company’s inclusion a “true honor.”
READ: MindMed closes on acquisition of digital medicine company HealthMode
“As we build MindMed into a pioneering company for the long-term, our entire team looks forward to the potential positive change we can bring to treating mental health and addiction in the years ahead,” Rahn told shareholders.
Owned and operated by the London Stock Exchange, FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market around the world.
A biopharmaceutical firm, MindMed develops psychedelic medicines to improve health, promote wellness, and alleviate suffering. It currently has several projects in various stages from planning to ongoing clinical trials involving the legendary drug lysergic acid diethylamide (LSD) as well as N-dimethyltryptamine (DMT), the active ingredient in the ayahuasca plant, and 18-MC, a non-hallucinogenic molecule derivative of ibogaine from the African plant iboga.
The company also has a fourth drug in its research and development pipeline - MDMA. The compound may have the potential to treat mental health disorders. MindMed has acquired the exclusive license to nine completed clinical trials of MDMA at University Hospital Basel's Liechti Lab in Switzerland.
The company recently closed its acquisition of digital medicine company HealthMode to help it build a full-stack digital mental health platform for psychedelic medicines.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas