Mindset Pharma Inc. (CSE:MSET, OTCQB:MSSTF) announced that it has filed an international patent application covering its Family 3 novel psychedelic compounds.
The company’s Family 3 consists of certain compounds that have demonstrated half-lives extending well beyond those exhibited by comparable classical psychedelic drugs with no significant reduction in binding affinity at the serotonin 5-HT2A receptor.
“Our family 3 compounds are substantially differentiated from the other families that we are pursuing in that we believe they may demonstrate pro-cognitive benefits at doses without hallucinogenic liability. This paired with their longer half-lives makes them interesting drug candidates for treating more fragile population groups such as children or geriatric patients where the psychedelic effect is likely undesirable,” said Mindset Chief Scientific Officer Joseph Araujo in a statement.
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“Also, we believe that such compounds may be optimal for indications in which a long-term, micro-dosing, paradigm is advantageous, such as ADHD or Alzheimer’s disease,” Araujo added.
Mindset said the application claims the priority date of its previously filed provisional application with the US Patent and Trademark Office on December 7, 2020.
Meanwhile, the company also announced it has granted 500,000 options to purchase common shares to a consultant, exercisable at $0.69 each for five years from the date of grant. The common shares are subject to a statutory hold period of four months and one day from the date of grant.
Mindset 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.
The company 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 as well as its own proprietary compounds.
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