Toronto, Ontario–(Newsfile Corp. – March 15, 2021) – Mindset Pharma Inc. (CSE:MSET) (FSE: 9DF) (“Mindset” or the “Company“) is pleased to announce that it has filed a sixth provisional patent application with the United States Patent and Trademark Office. This most recent patent application covers a comprehensive range of novel N,N-Dimethyltryptamine (“DMT“) and 5-methoxy-N,N-dimethyltryptamine (“5-MeO-DMT“) analogs, their related chemical process synthesis, composition of matter and therapeutic uses.
Both 5-MeO-DMT and DMT possess unique pharmacodynamic and pharmacokinetic properties compared to other clinically studied psychedelics, including a shorter duration of action, which may help reduce the amount of time a patient would spend in the clinic during psychedelic-assisted psychotherapy. 5-MeO-DMT and DMT’s potency at the 5HT1A receptor in addition to the 5HT2A receptor is unique compared to psilocybin and further increases the breadth of pharmacological diversity of Mindset’s proprietary compounds. The Mindset scientific advisory board believes that strategic structural modifications to DMT and 5-MeO-DMT could reduce toxicity and metabolic liabilities, resulting in an improved and safer psychedelic therapeutic.
Dr. Malik Slassi, a member of Mindset’s scientific advisory board noted, “We are very excited to add yet another psychedelic asset to our drug discovery and development program. This novel family of DMT and 5-MeO-DMT derivatives significantly expands the diversity of our patent-pending next generation psychedelic drug portfolio, bringing the total number of chemically distinct and differentiated chemical scaffolds of patent-pending compounds advancing through our drug discovery and development program to six. In parallel, we continue to make steady progress through our preclinical stages, generating highly promising data through in vitro characterization and animal experiments of our new drug candidates. We anticipate announcing lead compound(s) for investigational new drug-enabling studies from Mindset’s new drug families 1 and 2 shortly, as described in the Company’s press release of February 10, 2021.”
James Lanthier, CEO of Mindset, added, “Given the breadth of clinical indications that psychedelic drugs demonstrate efficacy in treating, we anticipate future clinical applications for a diversity of optimized psychedelic medications, tailored to a range of medical use cases. DMT and 5-MeO-DMT exhibit unique pharmacological and pharmacokinetic profiles, and we believe that optimized analogs have the potential to play a significant role in the future of psychedelic-inspired medicine. We look forward to sharing additional updates around both our new drug program as well as our manufacturing process program shortly.”
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VP, Corporate Development
About Mindset Pharma Inc.
Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin as well as its own proprietary compounds. www.mindsetpharma.com
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. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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