MindMed Advances Phase 2 LSD Microdosing Trial For Adult ADHD, Appoints Principal Investigator

Signs Clinical Trial Agreement With Maastricht University In Netherlands

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TORONTO, May 11, 2020 /CNW/ -- Mind Medicine (MindMed) Inc. (NEO: MMED; OTC: MMEDF) ( ("MindMed" or the "Company") is pleased to announce that, on May 8, 2020, it has entered into a clinical trial agreement with Maastricht University to undertake a Phase 2a clinical trial for lysergic acid diethylamide ("LSD") in adult patients with Attention Deficit Hyperactivity Disorder ("ADHD"). MindMed previously established a microdosing division to develop a portfolio of clinical trials studying the use of sub-perceptual amounts of psychedelic substances for medical purposes.

As part of the agreement, Maastricht University will provide facilities and personnel for the Phase 2a Proof of Concept Clinical Trial for MindMed's multicentre, randomized, double-blind, placebo-controlled trial evaluating the safety and efficacy of low dose LSD as treatment for ADHD in adults.

Dr. Kim Kuypers, associate professor, Department of Neuropsychology & Psychopharmacology at Maastricht University will serve as a Principal Investigator for the Phase 2a Clinical Trial. Dr. Kuypers is a leading clinical investigator in the field of psychedelics and has previously evaluated the concept of microdosing in other research. Her main goal as a clinical researcher is to understand the neurobiology underlying flexible cognition, empathy, and well-being.

MindMed is now advancing its LSD microdosing program with both Dr Kuypers and the previously announced partnership with University Hospital Basel's Liechti Lab. MindMed is currently in the regulatory ethics submission process in the Netherlands and plans to begin the Phase 2a clinical trial by the end of the year.

MindMed Co-Founder and Co-CEO, JR Rahn, said, "Working with Dr. Kim Kuypers, one of the leading research experts for microdosing of psychedelics, has the potential to help millions of adults through the development of innovations for coping and treating ADHD. Our work in the Netherlands will complement our existing collaboration with University Hospital Basel's Liechti Lab to better understand the therapeutic potential of microdosing."

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company's immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for Adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co.

MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTCQB: MMEDF and in Germany under the symbol DE:BGHM.

Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" within the meanings of applicable securities laws, which may include, but are not limited to, statements with respect to anticipated business plans or strategies of MindMed, clinical trials that may be conducted by MindMed and/or its partners or affiliates (and the timing and results thereof), uses and viability of MindMed's products, anticipated legal status or approval of any of MindMed's products (if at all), and the future business, operations or capital of MindMed. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MindMed to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in MindMed's management's discussion and analysis for the period from May 30, 2019, date of incorporation, to December 31, 2019, dated March 30, 2020, which is available on MindMed's website and the company's profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and MindMed disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. This news release is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this release is not, and under no circumstances is it to be construed as, an offer to sell or an offer to purchase any securities of MindMed.

For further information:

Media Contact: Anna Walsh, E: mindmedpr@pacepublicrelations.com, P: 212-254-4730; or Investor Relations: invest@mindmed.co, https://www.mindmed.co.

SOURCE Mind Medicine (MindMed) Inc.