On August 14, 2023 , Mind Medicine (MindMed) announced it entered into a senior secured credit facility totaling US$50 million with K2 HealthVentures. Upon closing, US$15 million of the US$50 million loan facility was funded. Additional funding amounts of up to an aggregate of US$20 million may be drawn over the course of the loan term, in each case subject to certain milestones being achieved. An additional tranche of US$15 million is also available, subject to the mutual discretion of MindMed and the lender.
MindMed is a clinical stage biopharmaceutical company developing novel products to treat brain health disorders. MindMed is developing a pipeline of innovative product candidates, with and without acute perceptual effects, targeting neurotransmitter pathways that play key roles in brain health disorders.
Osler, Hoskin & Harcourt LLP acted as Canadian counsel to MindMed with a team consisting of Trevor Scott, Minji Park (Corporate) and Martha Martindale and Matthew Di Prata (Financial Services).