Mindset Selects Compounds from Its Third Psilocybin-Inspired Drug Family to Move into in vivo PoC Studies

Toronto, Ontario–(Newsfile Corp. – February 1, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (“Mindset” or the “Company“), a drug discovery and development company focused on developing novel next generation psilocybin-inspired medicines and related technologies, is pleased to announce it has selected a subset of representative compounds belonging to its proprietary third family of patent-pending next generation psychedelic compounds to move into in vivo Proof-of-Concept (“PoC“) studies.

James Lanthier, CEO of Mindset, commented, “Mindset has developed a range of promising in vitro data from all three of its patent-pending families of next generation psilocybin-inspired drug candidate compounds, including, most recently from its third family. After extensive in vitro receptor screening and pharmacokinetic characterization, Mindset has selected a subset of representative drug candidate compounds from its third patent family for PoC studies in animals with the goal of confirming efficacy, safety, and to validate the longer half-lives reported in testing. Coupled with shorter acting compounds from its second patent family, Mindset’s diverse spectrum of differentiated compounds may be appropriate for a range of potential central nervous system clinical use cases, including both micro-dosing and macro-dosing regimens.

“Mindset will continue to advance its diverse portfolio of novel proprietary psilocybin-inspired drug candidate compounds through its rigorous pre-clinical development process, and we anticipate sharing a comprehensive overview of results from in vivo studies on Mindset patent families 1 and 2 shortly.”

Management of Mindset wishes to caution readers that any statements regarding its novel psychedelic drug candidate compounds are based on preliminary testing data and the clinical success of such compounds is speculative in nature. For more complete and specific information regarding the Company, its prospects and the risks associated with those prospects, readers should consult the Company’s website and other reliable sources.

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
CEO
[email protected]

Jason Atkinson
VP, Corporate Development
[email protected]

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 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 along with its own proprietary compounds. www.mindsetpharma.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as such term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Forward-Looking Information

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. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

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Mindset Pharma Inc

Mindset Pharma Inc

Mindset is developing next-generation psychedelic medicines to help treat neuropsychiatric patients with unmet needs.