Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF) told investors it has developed a new, patent-pending technology, which can deliver its next generation of psychedelic medicines intranasally.
The new platform leverages the company's unique platform technology, altering the pharmacokinetics profile of the active pharmaceutical ingredient and can deliver improved central nervous system (CNS) penetration of the medicines, the company said.
This means the potential for reducing dose level, speeding uptake and out-take from the brain, along with reducing peripheral side-effects, it added.
"The intranasal formulation technology further enhances Mindset's portfolio of complementary scientific assets," said James Lanthier, CEO of Mindset Pharma, in a statement.
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"Now, the company has a leading portfolio of next generation NCEs, patent-pending processes to synthesize first-generation compounds efficiently and cost-effectively, and a novel intranasal delivery system to improve the overall pharmacokinetic properties of first- and second-generation psychedelic drug candidates.
"We are very excited by the initial data of our intranasal technology using 5-MeO-DMT and look forward to broadening our validation data as we anticipate this technological advancement to be interchangeable with other known and novel psychedelic and CNS therapeutics.
"The development of this formulation technology is yet another excellent example of Mindset's innovation engine and its relentless and ongoing focus on scientific rigor to assist patients suffering from CNS disorders with unmet medical needs."
Mindset added that it filed a patent cooperation treaty (PCT) application on May 26, 2022, with a priority date of May 26, 2021.
A video of Mindset's CEO and CSO discussing the announcement in greater detail can be seen HERE.
Mindset, a drug discovery and development company focused on creating patentable psychedelic medicines to treat neurological and psychiatric disorders, said it is in the process of manufacturing 1 kilogram (kg) of pharmaceutical-grade product to move into Investigational New Drug (IND) status, enabling studies and subsequent human clinical trials as early as 2023.
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