Hogan Lovells Guides Mind Medicine Inc. on its US$75m Underwritten Public Offering
Philadelphia, 13 August 2024 - Global law firm Hogan Lovells today announced it advised clinical stage biopharmaceutical company Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), in its underwritten public offering of 9,285,511 common shares, without value, at an offering price of US$7.00 per common share and pre-funded warrants to purchase 1,428,775 common shares at a price of $6.999 per pre-funded warrant.
Gross proceeds to MindMed from the offering, before deducting underwriting commissions and other offering-related expenses, are expected to be approximately US$75 million.
MindMed is a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders. In connection with the financing, MindMed announced that it is expanding its pipeline for its MM120 (lysergide d-tartrate) clinical program with plans to initiate pivotal Phase 3 studies in major depressive disorder (MDD). In June, MindMed announced it had completed an End-of-Phase 2 (EOP2) meeting with the U.S. Food and Drug Administration (FDA) supporting the advancement of MM120 in generalized anxiety disorder (GAD) into pivotal trials.
The firm also guided MindMed on its $US175m financing in March 2024, the details of which can be found here.
The Hogan Lovells team was led by partner Steve Abrams (Philadelphia), counsel Val Delp (Philadelphia), and associates Sophie Beutel (New York) and Alex Dimmer (Denver). Additional deal support was provided by senior counsel Henry Kahn (Baltimore), partner and Practice Area Lead - Pharmaceutics & Biotechnology Lynn Mehler (Washington, D.C.), partners Steven Kaufman and Jasper Howard (both Washington, D.C.), senior associates Sally Gu and Elizabeth Adams (both Washington, D.C.), and associate Katherine Kramer (Washington, D.C.).
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