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Mindset Pharma Inc. is a drug discovery company that focuses on developing novel psychedelic and non-psychedelic medications to address neuropsychiatric and neurological disorders with unmet medical needs. The company recently entered into a definitive arrangement agreement with Otsuka Pharmaceutical Co., Ltd., signaling a significant acquisition worth approximately CAD $80 million. Mindset's innovative compounds and synthesis processes aim to revolutionize the treatment of psychiatric disorders, contributing to patient care on a global scale.
The Transaction, expected to close in October 2023, marks a strategic move by Otsuka to strengthen its presence in the psychiatry and neurology therapeutic areas. Mindset's shareholders will benefit from the all-cash acquisition, demonstrating a premium value of $0.75 per share. With a focus on maximizing the value of its assets and IP portfolio, Mindset's collaboration with Otsuka is poised to lead to groundbreaking advancements in patient treatment.
In pursuit of its mission to develop next-generation pharmaceutical assets, Mindset is dedicated to creating optimized and patentable psychedelic medicines, leveraging the therapeutic potential of psychedelic drugs. Through proprietary compounds, novel families of psychedelic compounds, and innovative synthesis processes, the company is at the forefront of advancing treatment options for neurological and psychiatric conditions.
Mindset Pharma Inc. (CSE: MSET, OTCQB: MSSTF) announced the filing of two international patent applications under the Patent Cooperation Treaty (PCT) for its non-hallucinogenic novel non-tryptamine compounds, known as "Family 6." These applications are based on promising pre-clinical studies, which indicate potential for treating a broader patient population, including vulnerable groups such as children and the elderly. The CEO, James Lanthier, emphasized that these compounds activate the 5-HT2A serotonin receptor without eliciting hallucinogenic effects, thereby reducing treatment costs and improving accessibility. This strategic move aims to position Mindset favorably in the psychedelic medicine market, focusing on innovative treatments for neuropsychiatric and neurological disorders.
Mindset Pharma Inc. (OTCQB: MSSTF) will participate in the Sequire Cannabis & Psychedelics Conference on April 5, 2023. CEO James Lanthier is scheduled to present at 1:30 p.m. ET. The event will be held virtually, and registration is available online. Mindset Pharma focuses on developing novel, optimized psychedelic and non-psychedelic medications aimed at treating neuropsychiatric and neurological disorders. The company has partnerships for its innovative compounds and aims to leverage the therapeutic potential of psychedelics for unmet medical needs. For further details, stakeholders can contact Mindset's strategic communications team.
Mindset Pharma (OTCQB: MSSTF) has announced significant advancements in 2022, emphasizing its commitment to developing innovative neuropsychiatric medications. The company is set to initiate human trials for MSP-1014, a prodrug of psilocin, which may offer improved safety and tolerability compared to traditional psilocybin. Mindset is also collaborating with the McQuade Center for Strategic Research and Development to advance its Family 2 compounds with higher potency and shorter effects than psilocybin. Additionally, the firm is exploring non-hallucinogenic drug candidates, aiming to expand therapeutic applicability across various patient populations.
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