Mind Medicine (MNMD) Is Unable To Sustain Higher: Here is Why

Mind Medicine (MindMed) Inc (NASDAQ:MNMD), which is involved in the development of psychedelics based medicines, is in focus this morning following an announcement from the company and the stock has jumped by 2% already.

Mind Medicine (MNMD) Is Unable To Sustain Higher: Here is Why

The company announced that it has entered into an exclusive collaborative development program with the Israel based medicine developer Nextage Therapeutics. According to the terms of the agreement, the company is going to work on delivering some of its psychedelics based medicines by using Nextage’s patented medicine delivery technology named Brain Targeting Liposome System (BTLS).

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Experts have suggested that BTLS is an innovative system that allows the delivery of APIs (active pharmaceuticals ingredients) to the patient’s brain by working through the Blood Brain Barrier. In addition to that, it has been designed in such a way that the exposure to the materials outside the brain is reduced considerably. It is now going to be interesting to see if the Mind Medicine stock can add to its gains through the rest of the day.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.