Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF) told investors that the US Patent and Trademark Office has granted allowance for another of its Family 1 patent applications, number 17/743,718, titled ‘Psilocin Derivatives As Serotonergic Psychedelic Agents for the Treatment of CNS Disorders’.
The drug discovery and development company said the patent includes certain deuterated psilocybin analogs from Family 1.
“We are pleased to announce that Mindset has received yet another allowance from the USPTO. This marks Mindset’s fourth allowance of composition of matter intellectual property (IP) rights for our growing IP portfolio,” Mindset CEO James Lanthier said in a statement. “Now, our Family 1 is covered by three patent allowances, further enhancing the strategic positioning of Family 1 and reaffirming its commercial potential.”
READ: Mindset Pharma receives allowance for US patent application covering lead psychedelic therapeutic candidate
The company explained that Family 1 consists of psilocybin-inspired drug candidates that demonstrate improved pharmacokinetic, efficacy and safety profiles, with reduced potential side effects and evidence of increased target engagement, in pre-clinical studies. The latest application is one of a family of applications having a priority date of February 4, 2020, it added.
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