TORONTO, Sept. 29, 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, in addition to its potential lead new chemical entity (“NCE”) candidate, MSP-4018, the Company has identified two additional pipeline opportunities from its Family 4 compounds, MSP-4019 and MSP-4020. In preclinical studies, both compounds demonstrated strong efficacy and an improved safety profile in comparison to 5-MeO-DMT and parent compounds.
“Our Family 4 compounds leverage Mindset’s conjugate amplification technology, which has enabled us to rapidly generate clinical candidates that improve upon first-generation psychedelic efficacy and safety. Using a platform approach to advance our differentiated compounds into the clinic, we aim to broaden patient access for mental health sufferers and provide solutions to address a range of patient needs,” said James Lanthier, CEO of Mindset.
“The preclinical results of MSP-4019 and MSP-4020 demonstrated strong efficacy through a mouse head twitch assay and an improved safety profile at a range of doses up to 30 mg/kg,” stated Joseph Araujo, Chief Scientific Officer of Mindset. “Our next generation compounds showed no signs of 5-HT syndrome, a serious potential health risk associated with first-generation drugs, 5-MeO-DMT and DMT. We will continue to validate our novel compounds through translational models as we select one or more lead drug candidates from our Family 4 NCEs to advance into the clinic.”
Mindset’s Family 4 compounds are DMT and 5-MeO-DMT-inspired novel drug candidates that offer a broad range of pharmacological diversity suitable for in-clinic settings. The Company has run a battery of 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 discussing the announcement in greater detail, please visit: https://youtu.be/hy-pQlUegP0.
For more information, please contact:
Allison Soss/Tim Regan
KCSA Strategic Communications
Phone: 212-896-1267/ 347-487-6788
James Lanthier, CEO
Jason Atkinson, VP, Corporate Development
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.
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.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.