Psychedelic medicine company focusing on discovering, developing and deploying psychedelic-inspired medicine to cure addiction and mental illnesses MindMed Inc. (NASDAQ: MNMD) (NEO: MMED) announced having successfully completed phase 1 clinical trial of 18-MC a non-hallucinogenic proprietary derivative of ibogaine being developed by the company for treatment of indications linked to opioid use disorder.

Minded says that it completed the study last month and the top line results were expected early this month. 18-MC is an alpha-3-beta-4 nicotinic receptor with a differentiated mechanism of action which modulates excessive dopamine fluctuations in the mesolimbic system of the brain.

According to preclinical efficacy models, 18-MC has demonstrated strong activity in reducing self-administration of opioids, stimulants, withdrawal symptoms and other substances abuse. In addition, preclinical characterization has shown 18-MC has a strong safety and tolerability profile.

More important, 18-MC has the potential of to overcome safety limitations of ibogaine and has not demonstrated proarrhythmic or neurotoxic activity.

This is an exciting milestone, and we look forward to announcing the results of our Phase 1 study in the coming months. The growing opioid crisis claims over 75,000 lives each year and impacts more than we’ll ever know. While ibogaine has been used and studied as a treatment for opioid addiction, its efficacy, while promising, has been overshadowed by significant safety concerns. Our proprietary molecule, 18-MC, has indicated an encouraging safety profile and preclinical efficacy data setting the stage for our Phase 2a proof-of-concept study in individuals undergoing opioid withdrawal. We expect to initiate this study in early 2022, which will evaluate the safety, tolerability and efficacy of 18-MC in mitigating the symptoms of opioid withdrawal,” said the company’s CEO, Robert Barrow.

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