Restore Mind Medicine
The Tales of Digital Medicine
In February of 2021, MindMed acquired Healthmode Inc. ("Healthmode")
for approximately $33M to create a digital medicine division. Karlin was
CEO of Healthmode.
The Company announced partnerships with Novartis, the National Institute of Health, Merck, and Bioxcel
Therapeutics, claiming that these "new partnerships ... [will] lead to near-term revenue."
Over two years later, digital medicine failed to produce any revenue and none of MindMed's professed
partners have emerged.
MindMed has failed to produce a candidate that is near revenue generation and many of their
candidates have been stagnant for over two years.
MindMed has spent a projected $14M on the digital medicine program and analysts do not expect it to
generate revenue until at least 2026.
Source: Company SEDAR Filings, Company SEC Filings, MindMed Investor Presentations. See [13]
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