MindMed Collaborates with Nextage Therapeutics for Brain Targeting Liposome System - Mind Medicine (NASDAQ:MNMD)

MindMed MNMD and Israel-listed Nextage Therapeutics have entered into an exclusive collaborative development program to optimize the delivery of certain psychedelic drug candidates.
The agreement utilizes Nextage's Brain Targeting Liposome System (BTLS) delivery technology.
Initially, the collaboration will focus on optimizing the delivery of drug products based on noribogaine, and ultimately other ibogaine derivatives.
Both the companies will share development costs and intellectual property arising from the collaboration.
The BTLS technology is an innovative drug delivery system designed to allow the targeted delivery of active pharmaceutical ingredients (APIs) through the Blood-Brain Barrier.
BTLS is designed to reduce exposure to the active material outside of the brain, reducing potential risks, intended to substantially lower API concentrations and increasing efficacy.
Based on initial Proof of Concept work, MindMed and Nextage will work towards a final collaborative development agreement and determine if such potential formulations of drug candidates should be further progressed into clinical trials.
Price Action: MNMD shares are down 3.96% at 3.29 during the market session on the last check Monday.