Definium Therapeutics (formerly MindMed) is a late-stage clinical biopharmaceutical company developing psychedelic-derived drugs for psychiatric disorders. The company has no approved products or revenue and is entirely funded by capital raises. Its lead asset, DT120, is a proprietary orally-disintegrating tablet formulation of lysergide D-tartrate — a pharmaceutical-grade form of LSD — being developed for generalized anxiety disorder (GAD) and major depressive disorder (MDD). DT120 is administered as a single dose in a monitored, roughly eight-hour in-clinic session. A key differentiator is that DT120 is designed as a monotherapy, with no required co-administered psychotherapy, which simplifies delivery and aligns with standard reimbursement pathways. DT120 holds FDA Breakthrough Therapy designation for GAD. Definium is currently running four Phase 3 trials across GAD and MDD, with topline data from the first two GAD and MDD trials expected in 2026, and is targeting an NDA submission shortly after. The company's second asset, DT402 — the R-enantiomer of MDMA — is in early-stage development for social communication deficits in autism spectrum disorder. All manufacturing is outsourced to CDMOs. Definium holds approximately $452M in cash pro forma following a ~$259M public offering in late 2025, which management believes funds operations into 2028.