MindMed (MMED.NE) has announced the acquisition of HealthMode, which now gives the company access to artificial intelligence-enabled clinical research.
The $41.6 million all-share transaction gives MindMed control of HealthMode’s intellectual property, as well as a new team.
“Today is going to give a whole new trajectory to MindMed. Before, we were very much looked at as a pure-play biotech company focused on the psychedelic medicine space. I think today, we now are a half software company. In terms of headcount, we added 24 machine learning and product engineers. If you look back a year from now, you will look back at MindMed as much a tech company as it is a drug development company,” said JR Rahn, co-founder and CEO.