 Hi, how's everybody doing today? This is Rich and we have a Rich TV Live with our very special guest. It's JR Ron from Mind Medicine. How are you doing today JR? Hey, how are you doing? I'm doing fantastic. It's been a very exciting couple of months for you. So how's everything going? Things are going well. We, it's definitely a dynamic time in the markets and also I think for the world right now but I think the things that we are working on are really going to be needed as part of the recovery post COVID and so just been really kind of heads down executing and building our portfolio. Very good. Now last month it was revealed to the world that MindMed is developing LSD neutralizer, technology to shorten and stop LSD trips. How was the technology discovered? Well, that's, it's a good question. I don't know how much I can answer about it. Just because we recently filed a patent application around the neutralizer. However, what we're really trying to do with this is, I think what people ask me about psychedelics and psychedelic assisted therapy, one of their biggest fears is, well, what if I have a bad trip? What if I have a bad experience? And in many ways, those experiences can be some of the most therapeutic but at some point they can just also be too much. And so we wanted to remove the anxiety around going and getting treatment. And so what we thought the best way to do that is to let people know that there is an off switch. You can go in for therapy and your therapist or doctor has the ability to shut off the experience. And so that is really what that technology surrounds itself with and wants to become. We feel that this is more a feature and not a standalone product, but it will differentiate us in the market if we are to get it ever approved. So that's what we're working on with the neutralizer. Very good. Now, there's lots of exciting things happening with MindMed right now. You recently announced that the company has closed a 13.2 million financing to advance the Lecti Lab collaboration. Can you tell us more about the collaboration? Sure. So Dr. Matias Lecti is the leading researcher on LSD and MDMA globally. He's been researching these substances for many, many years. We were able to acquire all the historical data based on the work that he's done over the last 10 years. And with that data, we required about eight clinical trials in the LSD space that are completed or ongoing. And then we acquired, I believe an additional nine clinical trials or studies based on MDMA. And so what we can now do is take all that data and develop IP positions around it for the company and also use it to formalize how we're gonna go into new clinical trials. Very good. Now, on May 27th, you guys just have news coming nonstop. MindMed announced some big news that it would be adding MDMA to its R&D portfolio to develop next-gen psychedelic therapies. Tell us more about the research and how MDMA will help the company's mission to prevent mental illness. Yeah, so look, MDMA is clearly a very important component of psychedelics and the entire industry. Maps, which is a nonprofit, has been developing it, got it breakthrough therapy designation with the FDA. It's probably the most, MDMA is probably the most advanced psychedelic in terms of clinical trials. It's in a phase three. And I think very close to a potential approval based on everything that we hear coming out of maps and the FDA. What we saw as the opportunity was, Dr. Likdi was the leading researcher on MDMA. He was also the leading researcher on LSD. What we wanna eventually look at is creating a combination of both MDMA and LSD, potentially into a single dose or administering them at the same time during a therapy session. We think that in a pathogen like MDMA has a lot of therapeutic potential and probably even more so when combined with something like LSD. And so I think this is a key thing, if you're an investor in the space on looking for real true innovation, things that are going to be next gen and are gonna be differentiators. And that's what MindMed is really focused on is really pushing the boundaries here on psychedelic therapy and psychedelic medicines. MindMed is expanding its phase two, a clinical trial of LSD and ADHD and adding an additional trial site in Basel, Switzerland. What was the strategy behind this and why is LSD microdosing such a hot topic right now? Yeah, so microdosing has been a trend in Silicon Valley for a number of years, really sort of kind of picked up with a book called The Psychedelic Explorers Guide by James Fadiman really kind of became folklore in Silicon Valley. A lot of the smartest people in a lot of these large tech companies kind of square by microdosing. And so I was exposed to that being an earlier employee at Uber and part of the Y Combinator program. But what we didn't really see was there's plenty of anecdotal evidence, but there was no real phase two clinical data showing the efficacy of it, right? And so what MindMed has done is established the first phase two trial ever for microdosing of LSD for adult ADHD. And we are looking to see if we can help people try some other form of medicine besides these stimulant based medicines like Ritalin and Adderall that are traditionally used to treat ADHD and have terrible side effects. I know that they have terrible side effects. I was put on them since I was the age of 13. So definitely a real mission for me on how we can find an innovative medicine for adult ADHD. Project Lucy MindMed's commercial drug development program was launched on June 4th. Can you tell us more about your latest project? Yeah, so Project Lucy is probably the biggest announcement we've had since really going public. It is a huge opportunity. Anxiety affects 40 million Americans every year. It's the most prevalent mental illness in the United States and it's only getting worse during the midst of COVID right now. We saw Xanax prescriptions just in the month of March increase 14.5% overall since the beginning of COVID you know, these anxiety medications have also increased 32% as a whole. And so those are not great substances. Xanax is highly addictive. It has a lot of negative side effects. And I think if you know anyone that's used it, you know, it can get dangerous at times. What we are trying to do is to find a non-benzodiapean which is effectively Xanax. And look at a therapy assisted solution to anxiety. And so Project Lucy is based on LSD and it will be our first therapy based solution in our pipeline. What's really interesting about this is when we acquired all that data from Basel, we also acquired a phase two, an earlier phase two study that is testing LSD for anxiety based in the same way. What we're now trying to do is take that trial and start a new trial in the United States. And we're asking permission from the FDA to start that trial. And we think that there's a pretty good chance that, you know, they'll be receptive to this. You know, we obviously need to put all together all the data to have that discussion. But we think this is going to be a big part of what we are executing on. Now we've got a large group of investors that like to watch from all over the world and they're looking at MindMed and they're wondering, you know, what's coming up? So what upcoming milestones can investors expect from MindMed for the rest of this year? Well, I think you should look at us starting two phase two studies by the end of this year in the micro dosing, the micro dosing clinical trial, and then also our addiction treatment, which we haven't really talked much about today, 18MC, which is currently finishing up some phase one studies and we'll be moving into a phase two. And so those are two good inflection points by the end of the year to be looking for. And then as we progress, you know, over into next year start looking for, you know, potential updates on those trials, how they're going, recruitment. Ultimately, psychedelics is a drug development play. You need to know that going into this. And companies that are not taking an FDA pathway and are not focused on drug development, I frankly do not, I don't think they will be successful really commercializing psychedelics. These are medicines, they aren't recreational. We don't see a recreational future. So you need to make sure that the teams that you're backing have that drug development experience. There's more PhDs and MDs on our team than I have fingers for. And, you know, I think it's, you know, really an important thing to evaluate. Now, if you're an investor or someone that's interested in the company, interested in getting in contact with you, what's the best way for anyone to get a hold of you? Well, they can email invest at mindmed.co. I, along with my colleague Colin monitor that email inbox. And we try to stay as best in touch with our shareholders as possible. We really value our shareholder base. And so yeah, definitely reach out. Also just, you know, read the news. We've been in the Wall Street Journal to vice to Bloomberg. There's been a lot of great coverage of our company. And I think that we are quickly establishing ourselves as one of the stalwarts of this industry. And we'll hopefully be a leader for a long time. Well, thank you so much for your time today, JR. Keep up all the great work. This is JR Ron, the CEO of MindMed, a company that I believe is undervalued, underappreciated, underexposed. Keep it on your watch list, keep it on your radar. This is Rich from Rich to Be Live. Have yourselves a nice day. Thank you, Rich.