Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF) said its goal of bringing best-in-class optimized psychedelic medicines to patients in need is important and achievable, as the company highlighted its recent accomplishments and expressed its excitement for 2023 and beyond.
In a letter to shareholders, Mindset CEO James Lanthier noted that this year the company made significant progress in advancing its rich pipeline of new drug programs to the clinical stage, expanded the frontier of psychedelic drug discovery with the development of new chemical classes, formed industry-leading partnerships, and continued to expand and enhance its scientific innovations and intellectual property portfolio.
“All of our hard work has set the stage for Mindset to launch one or more of our novel drug candidates to first-in-human clinical trials in 2023,” Lanthier said.
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Several of the company’s programs are moving to the clinical stage, including its lead psychedelic drug candidate MSP-1014 for the treatment of major depressive disorder which in September received positive scientific advice from the UK Medicines and Healthcare products Regulatory Agency allowing Mindset to finalize its clinical trial plan.
Two additional candidates from the company’s “Family 2” of drug candidates, which are characterized by a strong effect size compared to psilocybin and preclinical data suggests a shorter effect duration than psilocybin, have been selected and advanced to investigational new drug-enabling studies with a global contract research organization.
To complement its new drug programs, Lanthier said Mindset has also developed a patent-pending novel cost-effective manufacturing process to synthesize psilocybin.
“Our recent achievements position Mindset for an even more exciting 2023 as we continue to make tremendous progress towards our ultimate goal of getting optimized drugs to patients,” Lanthier concluded.
The full shareholder letter can be found here.
Mindset Pharma 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.
Contact the author at emily.jarvie@proactiveinvestors.com
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