Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF). is expanding its drug discovery efforts into novel non-hallucinogenic therapeutics in light of the success of its psychedelic therapeutic programs, the company’s CEO James Lanthier highlighted in a letter to shareholders.
Lanthier told shareholders that the company entered 2023 with a robust pipeline of novel psychedelic-inspired drug candidates advancing toward first-in-human clinical trials.
“Bolstering Mindset’s suite of pre-clinical drug candidates is one of the strongest IP platforms of any psychedelic biotech, with 16 patents filed to date covering eight different novel chemical entity scaffolds, and four allowances and/or issued patents received from the USPTO covering both Family 1 (including MSP-1014) and Family 2 drug candidates,” Lathier said.
The CEO said, in light of this success, Mindset is shifting its drug discovery efforts in a new complementary direction.
“Thanks to our early focus on novel drug development, Mindset’s scientific team has developed a rich understanding of the structure-activity relationships of psychedelic drug structures,” he said.
“We are now applying this knowledge towards discovering novel psychedelic-inspired non-hallucinogenic drug candidates. This work has been underway for some time and, to date, Mindset has discovered multiple candidates with a promising preclinical profile.”
Lanthier highlighted Mindset’s recent filing of a US provisional patent application expanding its breadth of non-hallucinogenic, psychedelic-inspired, compounds beyond its previously announced “Family 3.”
The company expects to make further announcements in the near future around additional IP filings in this field of research as its discovery work progresses, he concluded.
The full shareholder letter can be found here.
Mindset Pharma is a drug discovery and development company focused on creating optimized and patentable best-in-class innovative next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs.
Contact the author at emily.jarvie@proactiveinvestors.com
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