Psychedelic medicine biotechnology company developing psychedelic inspired medicine and therapies to treat addictions and mental health conditions MindMed Inc. (NASDAQ: MNMD) (NEO: MMED) announced having entered into a strategic research collaboration agreement with Sphere Health to collect, analyze multimodal data with an aim of improving the understanding variety of biomarkers linked to mental illnesses and affective disorders.
Both companies will jointly launch MM061302- a research using existing consumer technology to provide robust data set which will be used to develop more accurate machine learning tools so as to identify biomarkers which show association with and prediction of symptoms of depression and anxiety.
Sphere Health is a physician founded employee benefits provider aiming to provide affordable, accessible and groundbreaking acute mental healthcare to people suffering from major mental conditions.
This research will also be used to provide a better understanding of mental health conditions and might assist inform the design of future digital tools to support both individual with mood disorder as well as physicians caring for them.
“We are thrilled to have Sphere Health as a partner in this endeavor. As the ways in which individuals use technology to access care continues to evolve, so can our understanding of mental illness and mental health. The use of technology has the potential to offer a level of sensitivity and precision which does not currently exist in our models of these disorders and, we hope, will ultimately lead to better outcomes in our ability to help the folks who suffer from them,” said MindMed’s chief medical officer, Daniel R. Karlin.