MindMed, a late-stage clinical biopharmaceutical company focused on brain health disorders, has appointed Matt Wiley as Chief Commercial Officer (CCO) to lead the company's commercial vision and strategy. This strategic hire comes as MindMed prepares for the potential launch of MM120 orally disintegrating tablet (ODT), its lead product candidate for generalized anxiety disorder (GAD) and major depressive disorder (MDD).
Wiley will serve as a member of MindMed's executive team, bringing extensive experience in commercializing neuroscience and psychiatric therapeutics as the company approaches key clinical milestones in its Phase 3 development program expected in 2026.
Strategic Appointment for Commercial Readiness
Rob Barrow, Chief Executive Officer of MindMed, emphasized the significance of Wiley's appointment: "Matt's deep experience in launching multiple neuroscience and psychiatric therapeutics will be invaluable as we prepare for our first potential FDA approval of MM120 ODT. His proven track record in driving commercial success for novel, first-in-class products like XYREM® will be an asset in realizing the significant commercial potential of MM120."
The company is positioning MM120 ODT to address the substantial unmet need in mental health treatment, targeting more than 50 million people suffering from anxiety and depression in the United States alone.
Extensive Commercial Leadership Experience
Wiley joins MindMed with more than 25 years of sales, marketing, and strategic leadership experience across multiple specialty product launches. His most recent role was as CCO at BioXcel Therapeutics, where he oversaw the launch of the company's first acute treatment for agitation associated with schizophrenia and bipolar disorder.
Prior to BioXcel, Wiley served as CCO at VYNE Therapeutics, managing commercial objectives for the company's first two dermatology products. His experience also includes serving as Vice President of Marketing and Business Unit Lead for Jazz Pharmaceuticals' sleep medicine unit, where he developed the growth strategy for XYREM® for narcolepsy, which achieved blockbuster status during his tenure.
Wiley's career also includes leadership positions at Azur Pharma, Cephalon, Salix Pharmaceuticals, and MGI Pharma. He holds a Bachelor of Arts in English from Syracuse University.
MM120 Development Program and Timeline
MindMed's MM120 ODT is currently in Phase 3 clinical development for both GAD and MDD. The company anticipates multiple key clinical readouts in 2026, including:
- Topline results (Part A) from the Phase 3 Voyage study for MM120 ODT in GAD in the first half of 2026
- Topline results (Part A) from the Phase 3 Panorama study for MM120 ODT in GAD in the second half of 2026
- Initiation of the Phase 3 Emerge study for MM120 ODT in MDD in the first half of 2025, with topline results expected in the second half of 2026
"Joining MindMed at this pivotal moment is an exciting and deeply inspiring opportunity to help redefine psychiatric care," said Wiley. "With MM120 ODT supported by a strong and thorough clinical development program, I firmly believe it has the potential to be a game-changing therapy. I'm eager to work alongside a team that shares my dedication to improving patients' lives by addressing anxiety and depression—two of the most widespread and critical challenges in today's mental health crisis."
Compensation Package Details
As part of his appointment, MindMed granted Wiley inducement awards consisting of an option to purchase 350,000 common shares of the company and 125,000 performance stock units (PSUs) that will be settled in MindMed common shares upon vesting. The option will vest over a four-year period, with 25% vesting on the first anniversary and the remaining 75% vesting in 36 equal monthly installments over the following three years.
The PSUs will vest on the third anniversary of the grant date, with actual earned units ranging from 0% to 200% of the target number based on achievement of performance metrics. These inducement awards were granted outside MindMed's equity incentive plans and approved by the company's Compensation Committee in accordance with Nasdaq listing rules.
Company Outlook and Pipeline
MindMed describes itself as a late-stage clinical biopharmaceutical company developing novel product candidates to treat brain health disorders. The company's mission is to become the global leader in the development and delivery of treatments that improve patient outcomes in brain health.
Beyond MM120, MindMed is developing a pipeline of innovative product candidates targeting neurotransmitter pathways that play key roles in brain health. The company trades on NASDAQ under the symbol MNMD and expects its current cash and cash equivalents to fund operations into 2027, extending at least 12 months beyond its first Phase 3 topline data readout for MM120 ODT in GAD.
