Biomind Labs (NEO:BMND) completes phase II DMT trial

• Biomind Labs Inc. (BMND) has completed the dose administration for a phase two trial testing its novel DMT drug candidate, BMND01, for treatment-resistant depression
• Biomind Labs is a research and development company creating pharmaceutical drugs
• The goals of the trial are to establish the safety and tolerability of DMT
• It will also allow Biomind to explore the origin of the observed side effects
• Biomind Labs Inc. (BMND) is down 16.90 per cent and is trading at $1.08 per share as of 2:08 pm ET

Biomind Labs (BMND) has completed the dose administration for a phase two trial testing its novel DMT drug candidate, BMND01, for treatment-resistant depression.

Biomind Labs is a biotech research and development company creating pharmaceutical drugs and nanotech delivery systems for a variety of psychiatric and neurological conditions.

The goals of the trial are to establish the safety and tolerability of DMT. It will also allow Biomind to explore the origin of the observed side effects because different associated physiological, behavioural, and cognitive markers will be collected throughout the trial.

Alejandro Antalich, CEO of Biomind Labs, commented,

“The trial is designed with a fixed ascending two-dose, concentration-response study, allowing DMT to be rapidly delivered directly into the systemic circulation in approximately 10 minutes, bypassing the first-pass metabolism, which is recognized as a major problem for some routes of DMT administration.”

According to the company, 10 to 30 per cent of people with depression show treatment-resistant symptoms along with difficulties in social and occupational function, a decline in physical health, poor quality of life, suicide ideation and attempts, self-harm, high relapse rate, and increased health care utilization.

“The significant reduction in experience duration provides greater practical applicability to potentially deliver the psychedelic treatment in a supervised real-world clinical setting,” said Antalish.

Biomind Labs Inc. (BMND) is down 16.90 per cent and is trading at $1.08 per share as of 2:08 pm ET.