NEW YORK–(BUSINESS WIRE)–Mind Medicine Inc. (NASDAQ: MNMD), a clinical-stage biopharmaceutical company developing novel product candidates to treat brain health disorders, today announced the appointment of Stephanie Fagan, effective today, as Chief Corporate Affairs Officer. Ms. Fagan will serve as a member of the executive team and will oversee public affairs and corporate communications for the Company.
“I want to welcome Stephanie to the MindMed team. Stephanie’s track record leading and executing successful multi-stakeholder strategies will be critical as we advance MM120 into pivotal trials and ultimately to the market. This new role underscores our commitment to deepening engagement with our partners and communities as we continue to build MindMed into a leading biopharmaceutical company developing novel products to treat brain health disorders,” said Rob Barrow, Chief Executive Officer of MindMed.
“MindMed is pioneering the future of brain health with potential groundbreaking treatments, and I am thrilled to join a company dedicated to transforming patient outcomes in an area of immense public health need,” said Stephanie Fagan, MindMed’s newly appointed Chief Corporate Affairs Officer. “I look forward to collaborating with our team and engaging deeply with the communities we serve to realize the full therapeutic potential of MM120 for generalized anxiety disorder and to advance our innovative pipeline of product candidates.”
Stephanie Fagan brings over 20 years of experience as an executive in the healthcare industry leading strategies that drive organizational success through innovative communication and stakeholder engagement. Ms. Fagan joins MindMed from Agenus where she was Chief Communications Officer and before that, she was Senior Vice President, Corporate Affairs and Chief Communications Officer at Acadia Pharmaceuticals, overseeing all internal and external communications. She joined Acadia from bluebird bio, Inc., where she was Senior Vice President, Corporate Communications, and built the first communications function as the company transitioned from a clinical to a commercial-stage company. Prior to bluebird, she led corporate affairs and communications functions at Alexion, Shire and West Health. Over the course of her career, Ms. Fagan has served in positions of increasing influence and impact in the healthcare industry, including roles at Johnson & Johnson, Allergan, Pharmacia, Inc. (now Pfizer), and Boston Scientific Corporation.
Ms. Fagan earned a Master of Science in Mass Communications from Boston University and a Bachelor of Arts in English from Wheaton College.
Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
In connection with her appointment as Chief Corporate Affairs Officer, MindMed granted Ms. Fagan inducement awards consisting of (a) 60,000 time-based restricted stock units (“RSUs”) and (b) an option to purchase an aggregate of 110,000 common shares of the Company (the “Option”), each with an effective grant date of July 29, 2024. The RSUs will vest over four years, with 25% of the shares vesting on the first anniversary of Ms. Fagan’s start date, and the remaining 75% vesting in substantially equal increments monthly over the next three-year period thereafter, subject to her continuous employment. The Option has an exercise price equal to the closing price of MindMed’s common shares on July 26, 2024, the last trading day on which MindMed’s common shares traded prior to the date of the grant, and will vest four-year period with 25% vesting on the first anniversary and the remaining 75% vesting in substantially equal quarterly increments over the next three-year period thereafter, subject to her continued employment.
The inducement awards to Ms. Fagan were granted as a material inducement to her employment and were approved by MindMed’s Compensation Committee on July 18, 2024, in accordance with Rule 5635(c)(4) of The NASDAQ Stock Market LLC. The awards were granted outside MindMed’s equity incentive plans.
About MindMed
MindMed is a clinical-stage biopharmaceutical company developing novel product candidates to treat brain health disorders. Our mission is to be the global leader in the development and delivery of treatments that unlock new opportunities to improve patient outcomes. We are developing a pipeline of innovative product candidates, with and without acute perceptual effects, targeting neurotransmitter pathways that play key roles in brain health disorders. MindMed trades on NASDAQ under the symbol MNMD.
