Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF) told investors that the US Patent and Trademark Office (USPTO) has granted allowance for its patent application number 17/833,341, titled 'Psilocin Derivatives As Serotonergic Psychedelic Agents for the Treatment of CNS Disorders’.
The drug discovery and development company said the application includes MSP-1014, its backup MSP-1009, as well as additional prodrug candidates that it classifies as belonging to Family 1.
MSP-1014 and MSP-1009 are novel analogues of psilocybin that demonstrated improved efficacy and safety profiles in pre-clinical studies, with reduced potential side effects and evidence of increased target engagement, Mindset explained. Also included in this patent application are multiple other tryptamine prodrug candidates and other psilocybin analogs. The application is one of a family of applications having a priority date of February 4, 2020, it added.
“Since its inception, Mindset has been focused on discovering and developing novel therapeutics, because it is our view that they offer the greatest opportunity to help patients with unmet medical needs,” Mindset CEO James Lanthier said in a statement.
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“Our early and consistent focus on novelty has created a valuable intellectual property (IP) portfolio,” Lanthier added. “Further, this focus on IP has already created value for Mindset, and today’s announcement is a good indication of the potential for additional returns for Mindset, thanks to our ongoing focus on novel optimized psychedelic-inspired medications.”
Mindset Pharma is focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs.
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 & 4.
Contact the author at stephen.gunnion@proactiveinvestors.com