Mindset Pharma Announces Publication of Three PCT Patent Applications for Its Next Generation Psychedelic Drug Candidates

August 16, 2021

TORONTO, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) ("Mindset" or the "Company"), a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet medical needs, today announced that the Patent Cooperation Treaty ("PCT") has published three patent applications, covering a range of Mindset’s Family 1 and Family 2 compounds, under the publication numbers: WO/2021/155467, WO/2021/155468, and WO/2021/155470.

With a priority date of more than 18 months ago, the patent applications cover a comprehensive range of novel diverse proprietary compounds designed to deliver superior therapeutic benefits to psilocybin with lower overall metabolic and safety liability and more predictable duration of action, along with their related synthetic process methods, potential compositions, formulation methods and therapeutic uses. The applications include novel prodrug, conjugates, deuterated and non-deuterated derivatives of psilocin, as well as its side-chain restricted analogs.

“The publication of our PCT patent applications reaffirms the novelty of our approach and first-to-file advantage,” said James Lanthier, CEO of Mindset. “We continue to run in vitro and in vivo tests on these patent-pending compounds to further validate their superior efficacy and safety profile.”

Mindset’s Family 1 compounds leverage state-of-the art modern drug design using conjugated and deuterated psilocybin and psilocin design strategies to improve on psilocybin’s potential toxicity and pharmacokinetics profile. Mindset’s Family 2 compounds are next-generation psilocybin and psilocin drug candidates optimized for in-clinic settings. The Company has run a battery of highly specialized in-vitro and in-vivo tests on its patent-pending novel compounds to select the optimal psychedelic drug candidates for progressing towards human clinical trials.

To watch a video of Mindset’s CEO discuss the announcement in greater detail, please visit: https://youtu.be/SPx3KQB27Fw.

For more information, please contact:

Investor Contact:
Allison Soss/Tim Regan
KCSA Strategic Communications
Email: MindSet@kcsa.com
Phone: 212-896-1267/ 347-487-6788

Company Contact:
James Lanthier, CEO
Email: jlanthier@mindsetpharma.com

Jason Atkinson, VP, Corporate Development
Email: jatkinson@mindsetpharma.com
Phone: 416-479-4094

About Mindset Pharma Inc.
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 in order 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.

For further information on Mindset, please visit our website at www.mindsetpharma.com.

Forward-Looking Information

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. Additional information regarding risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

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