MindMed Reaches Agreement To Acquire HealthMode, A Leading Machine Learning Digital Medicine Company

Mind Medicine (MindMed), a psychedelic medicine biotech company, announced that it will acquire HealthMode, Inc., a digital medicine and therapeutics startup that uses artificial intelligence (AI)-enabled digital measurement to increase the precision and speed of clinical research and consumer monitoring. The deal is valued at $41 million, and is slated to close by the end of February 2021.

MindMed will acquire HealthMode through the issuance of 82,508 multiple voting shares of MindMed plus $300,000 Canadian. The 82,508 multiple voting shares are equivalent to 8.25 million subordinate voting shares which are valued at about $5.13 . . .