Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF), a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet medical needs, today announced that it has selected its lead clinical candidate, MSP-1014, a differentiated psilocybin-based compound from its Family 1 of novel, patent-pending psychedelic compounds to move forward into current good manufacturing practice (cGMP) compliant manufacturing and investigational new drug (IND)-enabling studies.
“The selection of Mindset’s first lead candidate, MSP-1014, is a significant milestone in our clinical journey. We are excited to enter the final preclinical development step prior to commencing first-in-human clinical trials. Our next generation psychedelic compounds represent the flourishing evolution of therapeutics to effectively address neurological and neuropsychiatric disorders,” said James Lanthier, CEO of Mindset.
Mindset’s Family 1 compounds leverage state-of-the art modern drug design using conjugated and deuterated psilocybin and psilocin design strategies to improve on psilocybin’s potential toxicity and pharmacokinetic profiles. Rodent preclinical studies showed that MSP-1014 displayed superior in vivo and safety profiles in mice compared to psilocybin at a range of doses, and 5-HT2A subtype activation in rats. The superiority to psilocybin is due in part to the incorporation of a conjugated amplification moiety (CAM) that enhances 5-HT2A specific effects while reducing non-specific effects. In addition, the manufacturing process of MSP-1014 precludes the phosphorylation step, one of the most challenging chemical synthesis steps in psilocybin manufacturing.
The Company’s Family 1 includes patent-pending compounds comprising two patent applications with priority dates of February 2020. The Company has run a comprehensive range of specialized in vitro and in vivo tests on its patent-pending novel compounds to select the optimal psychedelic drug candidate for progressing towards human clinical trials. These studies have revealed a high rate of success among many of its compounds (see Mindset’s news release of April 29, 2021), giving Mindset an exceptional pool of new drug candidates from which it will continue to identify additional suitable compounds. The Company intends to further develop candidates from Mindset Families 2-4 with the goal of selecting additional lead candidates in the near future.
For additional detail on our Family 1 lead candidate MSP-1014, please watch the following interview from Mindset’s management team:
About Mindset Pharma Inc.
For further information on Mindset, please visit our website at www.mindsetpharma.com.
For more information, please contact:
Allison Soss/Tim Regan
KCSA Strategic Communications
Phone: 212-896-1267/ 347-487-6788
James Lanthier, CEO
This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Additional information regarding risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.