Mindset Pharma Selects Treatment-Resistant Depression and End of Life Cancer Angst as Indications for MSP-1014, its Novel Psilocybin-Inspired Clinical Candidate

September 9, 2021

TORONTO, Sept. 09, 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 it has selected Treatment-Resistant Depression (“TRD”) and End of Life Angst as initial target indications for its lead clinical candidate, MSP-1014. MSP-1014 is a novel patent-pending drug candidate that, based on preclinical data, shows potential to be a safer second generation psilocybin-like therapy with decreased potential for side effects.

“Psilocybin has demonstrated encouraging efficacy in treating TRD and End of Life Cancer Angst in a number of clinical studies and we believe our novel drug candidate, MSP-1014, represents a safer and more scalable evolution to its psilocybin predecessor,” said James Lanthier, CEO of Mindset. “TRD represents a large and untreated population with ⅓ of major depressive disorder sufferers resistant to presently available treatments1, while End of Life Angst is a major cause of depression and anxiety with limited treatment options. We see an opportunity to bridge a significant treatment gap with our next generation medicine and plan to advance MSP-1014, as well as other candidates across our library of patent-pending compounds, through the regulatory process as quickly as possible.”

“In a head-to-head comparison with psilocybin, MSP-1014 demonstrated superior head twitch response and minimal change in core body temperature, which suggests our compound potentially produces a greater hallucinogenic response with an improved safety profile,” stated Joseph Araujo, Chief Scientific Officer of Mindset. “Furthermore, MSP-1014 leverages Mindset’s proprietary psilocybin synthesis process, enabling scale-up efficiency in manufacturing and positioning us well for progressing our novel drug candidate through to clinical trials.”

To watch a video of Mindset’s CEO discussing the announcement in greater detail, please visit: https://youtu.be/O1NZe05u34Y.

1Jaffe, D.H., Rive, B. & Denee, T.R. The humanistic and economic burden of treatment-resistant depression in Europe: a cross-sectional study. BMC Psychiatry 19, 247 (2019).

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

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