MindMed raises institutional capital, nears FDA clinical testing

Institutional investors are becoming more involved in the evolving psychedelic biotech industry, helping companies in the new sector raise more capital and move closer to regulatory approval for their innovative therapies.

“I think 2020 was the year of the psychedelic unicorn, but 2021 is the year that real institutional capital comes into this space,” J.R. Rahn, co-founder and CEO of psychedelic medicine biotech Mind Medicine Inc. (MindMed), said in an interview with Advisors Magazine.

Marcus Lemonis was merely an infant in his native Lebanon as the nation was enduring the ravages of war in 1974, but when a bomb exploded in Nashville, Tennessee on Christmas Day 2020, the TV personality (CNBC’s The Profit and now Streets of Dreams), entrepreneur, advocate and philanthropist sprang into action. What started as a $250,000 reward to anyone who provided information leading to the arrest and conviction of the perpetrator, was converted to donate to victims that were directly affected. Through an application process, Lemonis’

Traditional IPOs – already facing tough competition from special purpose acquisition companies – are expected to encounter further challenges in 2021 as new rules for direct listings provide another path for companies to raise funds through public markets.
On December 22, 2020, the Securities and Exchange Commission approved new rules for the New York Stock Exchange allowing a company to raise new capital by selling shares through a direct listing of its stock. Previously, direct listings could only be used to sell stock already owned by executives or investors – not to sell new shares and raise additional capital for the company itself.

More Women Leave Workforce Than Men

It would appear the COVID-19 pandemic is wreaking more havoc on women than men when it comes to their jobs, businesses, and finances.

According to several recent surveys, more women have left the workplace in comparison to men since the pandemic began. What’s more, women-owned businesses report significantly greater revenue loss brought on by state mandated lockdowns as compared to male business owners; and more female-owned businesses have permanently closed versus men who have shuttered their businesses.

Someone once said, "You can't buy happiness. But you can buy pizza, and that's kind of the same thing."
Fun fact: Rachel Cruze loves pizza. That’s something important to know about her, she notes on her website. Maybe it’s all that pizza, but the personal finance expert, best-selling author, motivational speaker, and mom of three, certainly seems happy. And she is busier than ever guiding others on a road to contentment, especially when it comes to their financial situations.

The average person might wonder why highly paid pro athletes would ever need business guidance. But their incomes vary widely depending on the sport. The average National Football League player’s salary is about $2 million per year. The Major League Baseball player’s average is about $4 million per year and the average annual salary in the National Basketball Association is about $7 million, according to CNBC.