Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF) CEO James Lanthier has told investors that in the last six months, the biotech company’s efforts in the psychedelic space have begun to deliver impressive innovations, partnerships, and feedback reinforcing the firm’s patent portfolio.
The Toronto-based drug discovery and development company is focused on creating novel, next-generation psychedelic and non-psychedelic medications to treat neuropsychiatric and neurological disorders.
In June 2022, Mindset announced its proprietary, patent-pending, intranasal formulation technology, which has the potential for improving the administration of central nervous system (CNS) medications, including first and subsequent generations of psychedelic medicines.
READ: Mindset Pharma is part of an exciting crop of psychedelics firms that are pushing next-generation opportunities
“The intranasal formulation leverages Mindset’s unique patent-pending platform technology and has been demonstrated to alter the pharmacokinetics profile of the active pharmaceutical ingredient (API) of first-generation psychedelic drug candidates,” Lanthier said in a letter to shareholders.
“The initial Proof-of-Concept (PoC) of our intranasal technology using 5-MeO-DMT showed promising results,” he added.
Lanthier noted that the newly developed technology has the potential for “reducing dose level, speeding uptake and out-take from the brain, and reducing peripheral side-effects”, thereby enabling a more “efficient, safer, and more cost-effective treatment delivery system”.
In May of 2022, Mindset engaged a UK-based Contract Research Organization (CRO), Clerkenwell Health, to prepare for an initial scientific meeting with regulators from the UK Medicines and Healthcare products Regulatory Agency (MHRA) to discuss clinical development of Mindset’s first psychedelic drug candidate — MSP-1014 — a novel and patented second-generation psilocybin-like drug candidate.
“It was key for us to engage Clerkenwell Health as we make headway in progressing MSP-1014, our Family 1 lead clinical candidate, towards First-in-Human clinical trials,” noted Lanthier.
Mindset has also struck an innovative research collaboration with the Centre for Addiction and Mental Health (CAMH), a top psychiatric research hospital based in Toronto, Canada.
“We are sponsoring a preclinical study at CAMH on MSP-1014 alongside psilocybin. The study is interrogating how macro and micro doses of psychedelic compounds modulate expression levels of molecular biomarkers of brain plasticity in rats,” said Lanthier.
Mindset said the researchers expect to uncover short and long-term changes in cFOS and BDNF expression that could underlie the long-term behavioral changes associated with a single psychedelic experience and develop molecular insights into the magnitude of effects of MSP-1014 compared to psilocybin.
In addition, Mindset has a partnership with the McQuade Center for Strategic Research and Development (MSRD), a member of the global Otsuka family of pharma companies, to provide ongoing funding of development expenses and top-tier CNS expertise needed to bring clinical candidates from both Mindset’s Families 2 and 4 of next-generation psilocybin and 5-MeO-DMT compounds, respectively, through Phase 1a and Phase 1b human clinical trials.
“This partnership with Otsuka, a global leader in bringing CNS medications to market, is an yet another incredible opportunity for Mindset, differentiating us from our peers in the psychedelic space,” said Lanthier.
Most recently, the United States Patent and Trademark Office (USPTO) has granted allowance for Mindset’s patent application number 17/387,864, titled '3-Pyrrolidine-Indole Derivatives as Serotonergic Psychedelic Agents for the Treatment of CNS Disorders'. Included within the application are drug candidates from Family 2, which are novel analogues of psilocybin that exhibit a range of pharmacokinetic and pharmacodynamic improvements in pre-clinical studies.
Investors can learn more about Mindset’s robust patent portfolio here.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter (NYSE:TWTR): @UttaraProactive