Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF) announced that it has entered into a pharmaceutical manufacturing agreement with a leading contract development and manufacturing organization (CDMO) for the production of pharmaceutical-grade batches of Mindset’s next-generation psilocybin drug candidate, MSP-1014.
Following a co-development partnership with the McQuade Center for Strategic Research and Development for its short-duration compounds, announced on January 5, 2022, the company said it continues to receive interest from potential partners for its wider portfolio of differentiated next-generation drug candidates.
“As such, our manufacturing agreement with a leading CDMO positions MSP-1014 well for partnership opportunities to advance this optimized compound to human clinical trials,” the company’s CEO James Lanthier said in a statement.
READ: Mindset Pharma partners with McQuade Center for Strategic Research and Development to develop psychedelic medicine
“In preclinical trials, MSP-1014 has shown improved efficacy and safety compared to first-generation psilocybin. Also, it has demonstrated pharmacological diversity making it potentially suitable for both in-clinic treatment approaches and as a take-home medicine," Lantheir added.
Mindset noted that MSP-1014 is not a scheduled substance based on current guidance from regulators in Canada and the United States.
“With MSP-1014’s unique structure and Mindset’s innovative synthesis process, we anticipate a lower cost and more simple manufacturing process than psilocybin that well positions MSP-1014 for rapid commercialization,” Lanthier concluded.
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.
Contact the author at stephen.gunnion@proactiveinvestors.com