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Mindset Pharma Further Expands its IP Portfolio with Three Additional Non-Tryptamine Families of Next-Generation Psychedelic Compounds
Expands Discovery Pipeline with Three Additional Chemically Distinct Families of Highly Novel, Non-Tryptamine Drug Candidate Compounds
TORONTO, Aug. 31, 2022 (GLOBE NEWSWIRE) — Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company”), a drug discovery and development company focused on creating novel, optimized, next-generation psychedelic and non-psychedelic medications to treat neuropsychiatric and neurological disorders with unmet medical needs, today announced that through its discovery work, it has identified three additional families of highly novel, non-tryptamine, next-generation psychedelic compounds.
Mindset’s ambition since its formation has been to lead the medical psychedelic space in drug discovery by pushing the boundaries of known psychedelic drugs to create the broadest portfolio of varied and differentiated drug candidates. While much of the industry focus has been on classic psychedelic drugs, Mindset has purposefully expanded its discovery efforts beyond the tryptamine drug class (i.e. psilocybin and DMT) into new, innovative chemical structures in order to develop superior neuropsychiatric medications.
Using a fragment-based drug discovery (FBDD) method combined with a highly focused medicinal chemistry strategy, Mindset’s scientists designed and developed three new, chemically distinct, small molecule non-tryptamine scaffolds, Families 6, 7 and 8. Mindset has filed provisional patent applications on these families, with favorable FTO searches. Approximately forty novel drug-like lead compounds were synthesized and evaluated in in-vitro hydroxy tryptamine (5-HT) subtype receptors and in in-vitro absorption, distribution, metabolism, and excretion (ADME) studies. To date, pre-clinical screening has shown significantly enhanced receptor functional potency and selectivity. In addition, some of the new compounds have the potential for greater central nervous system (CNS) penetration, oral activity and efficacy.
“Mindset’s leading drug discovery engine continues to yield innovations with the potential to help patients across the world with neuropsychiatric and neurological disorders. The discovery of new Families 6, 7 and 8 demonstrates our commitment to expanding our Research & Development and strengthening our Intellectual Property (IP) portfolio beyond the classical tryptamines in the psychedelic field,” said James Lanthier, CEO of Mindset Pharma. “The discovery of these new families further expands our rich pipeline and provides a unique serotonergic receptor profile supporting our goal to design new and elegant drug candidates with increased receptor selectivity and potency profiles. Pre-clinical screening of the new families has shown promising results thus far and we are eagerly looking forward to advancing Mindset’s continued innovations into these new, chemically distinct drug families.”
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 in addition to its own proprietary compounds. The company has a co-development agreement with the McQuade Center for Strategic Research and Development, a member of the Otsuka Pharmaceuticals family of companies, for its short-duration compounds, Mindset Families 2 and 4.
For further information on Mindset, please visit our website at www.mindsetpharma.com.
For more information, please contact:
Investor Contact:
Allison Soss
KCSA Strategic Communications
Email: MindSet@kcsa.com
Phone: 212-896-1267
Media Contact:
McKenna Miller
KCSA Strategic Communications
Email: MindSet@kcsa.com
Phone: 949-606-6585
Company Contact:
James Lanthier, CEO
Email: jlanthier@mindsetpharma.com
Jason Atkinson, VP, Corporate Development
Email: jatkinson@mindsetpharma.com
Phone: 416-479-4094
