Toronto, Ontario--(Newsfile Corp. - January 6, 2021) - Mindset Pharma Inc. (CSE: MSET) ("Mindset" or the "Company"), a drug discovery and development company focused on developing next generation psychedelic medicines and related technologies for the treatment of neuropsychiatric and neurological indications with unmet needs, is pleased to announce that certain compounds belonging to its third family of patent-pending next generation psychedelic compounds are exhibiting positive in vitro characteristics.
James Lanthier, CEO of Mindset, commented, "Of the data being generated through Mindset's in vitro screening program on its third novel compound family, perhaps most intriguing, is that certain compounds demonstrate half-lives extending well beyond those exhibited by comparable classical psychedelic drugs with no significant reduction in potency at the serotonin 5HT2A receptor. The Mindset team believes that such compounds may be optimal for indications in which a long term, micro-dosing, paradigm is advantageous, such as ADHD or pain.
"Like our previous two patent families, we continue to discover compounds with agonistic effects on 5HT2A comparable to, and in some cases substantially greater than, psilocin and N,N-dimethyltryptamine (DMT). Additionally, certain compounds demonstrate a greater degree of selectivity at the serotonin 5HT2A receptor, which allows our scientific team to better understand the structure-activity relationship of our compounds.
"Mindset will continue to advance its portfolio of novel psychedelic compounds, with a goal of finalizing a selection of lead drug candidates for progression towards IND-enabling studies and subsequently to human clinical trials. We anticipate sharing additional updates in the near future with respect to both our drug development and psilocybin manufacturing programs."
Management of Mindset wishes to caution readers that any statements regarding its novel psychedelic compounds are based on preliminary testing data and the clinical success of such compounds is speculative in nature. For more complete and specific information regarding the Company, its prospects and the risks associated with those prospects, readers should consult the Company's website and other reliable sources.
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VP, Corporate Development
About Mindset Pharma
Mindset Pharma Inc. 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. Mindset 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 along with its own proprietary compounds. www.mindsetpharma.com
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This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.