MindBloom Enlists an Expert Attorney to Promote Therapeutics

Last month, the psychedelic company MindBloom hired Michael Petegorsky to be one of the company’s initial in-house attorneys. Petegorsky has worked on a variety of high-profile cases, and as an advocate for psychedelic medicine, he is excited to be a part of its expansion.

“Psychedelic medicine is a powerful tool for improving mental health and wellness,” Petegorsky stated in a recent LinkedIn message. β€œI would love to connect with anyone who shares my excitement and curiosity about the sciences, technology, and law surrounding psychedelics and telemedicine.”

At the height of the psychedelic-assisted therapy era, MindBloom LLC specializes in Ketamine and its use as a therapeutic agent for anxiety and depression. Many investors and entrepreneurs are making haste to be part of this booming industry. Former Sullivan & Cromwell partner turned internet millionaire Peter Thiel is leading the charge to convert psychedelics into a hot enterprise.

German firm Atai Life Sciences AG was appraised at $2 billion in March after obtaining $157 million in Series D funding from investors including PayPal co-founder Peter Thiel. There have been a number of recent IPOs in this industry. On the Nasdaq platform the year before, Compass Pathways PLC, a European pharmaceutical business that harnesses a hallucinogenic drug to treat anxiety and depression acquired more than $145 million. The company’s attorneys from Goodwin Procter earned $1.4 million in attorney costs and expenses as a result of the offering.

As a corporate defense lawyer, Petegorsky specializes in intellectual property (IP). He stated that his move to MindBloom has been an easy one following almost a half-decade at Akin Gump, where he was a partner and lawyer after joining the firm in 2015 from Ropes & Gray. “I’m thrilled to be a part of the team,” he added.

MindBloom’s trademarks and other IP are being managed by Akin Gump. The New York-established business, according to Petegorsky, is also collaborating with Gunderson Dettmer Stough Villeneuve Franklin & Hachigian on business matters and with the law firms Foley & Lardner and McDermott Will & Emery on governing challenges.

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