Psychedelic medicine biotechnology company focusing on discovering, deploying and deploying psychedelic infused medicines MindMed Inc. (MNMD) has entered in a Memorandum of Understanding (MOU) with Israel based Nextage Therapeutics (TASE: NXTG) concerning launching of a joint development program to optimize the delivery of certain psychedelic drug candidates for Nextage’s Brain Targeting Liposome System (BTLS) delivery technology.
Nextage Therapeutics is a pharmaceutical development company specializing in development of psychedelics and innovative cannabis. The company has already secured a license for its BTLS program.
The BLTS technology is an innovative drug delivery technology designed to allow selected delivery of active pharmaceutical ingredients (APIs) via the blood brain barrier.
The BLTS is made in such a way that it reduces exposure to the active material outside the brain decreasing potential risks linked with low API concentrations.
The two parties will work together to optimize delivery drug products based on noribogaine, and eventually other ibogaine derivatives. Additionally, both parties will share intellectual property and development costs arising from this arrangement.
MindMed is capitalizing on this opportunity to use this state-of-art technology to manage serious side effects that can turn some orally administered psychedelics to poor drug candidates.