Mindset Pharma Broadens its IP Portfolio by Filing U.S. Provisional Patent Extending its DMT and 5-MeO-DMT Inspired Psychedelic Drug Candidates

Rhea-AI Summary

Mindset Pharma Inc. (OTCQB: MSSTF) has filed a new provisional patent application with the USPTO for its Family 4 compounds, which are novel DMT/5-MeO-DMT analogs. This new application expands the range of drug candidates and their synthesis processes. CEO James Lanthier highlighted the pharmacological diversity of these compounds, which may provide more personalized therapies in clinical settings. The company is moving closer to human clinical trials after successful preliminary in-vitro and in-vivo tests.

Positive

• Filed new provisional patent application with USPTO for Family 4 compounds.
• Broadens range of next-generation DMT/5-MeO-DMT analogs.
• Demonstrated pharmacological diversity in preclinical testing.
• Advances progress towards human clinical trials.

Negative

• None.

TORONTO, Aug. 24, 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 needs, today announced that it has filed its new provisional patent application with the United States Patent and Trademark Office (“USPTO”) extending its Family 4 compounds, a set of novel DMT/5-MeO-DMT analogs. This most recent patent application covers a comprehensive range of next generation drug candidates, their related chemical process synthesis, composition of matter and therapeutic uses.

“The second patent application for our novel drug candidates incorporates new side-chain restricted analog designs - working from the progress of our first application - and broadens the strength of our patent estate,” said James Lanthier, CEO of Mindset. “Our DMT/5-MeO-DMT analogs have shown a range of duration and pharmacological diversity in preclinical modeling, with the potential to offer a more convenient and individualized administration for clinic-based therapies.”

Family 4 compounds are DMT and 5-MeO-DMT inspired 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 discuss the announcement in greater detail, please visit: https://youtu.be/EHnoPL-x3Ck

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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

FAQ

What is the recent patent application by Mindset Pharma (MSSTF) about?

Mindset Pharma has filed a new provisional patent application for its Family 4 compounds, which are novel DMT/5-MeO-DMT analogs.

What potential do the new drug candidates from Mindset Pharma have?

The new drug candidates could offer individualized and more convenient therapies for neurological and psychiatric disorders.

What are DMT/5-MeO-DMT analogs?

DMT/5-MeO-DMT analogs are psychedelic compounds that Mindset Pharma is developing to treat unmet medical needs.

What progress has Mindset Pharma made towards clinical trials?

The company has conducted successful in-vitro and in-vivo tests, moving closer to human clinical trials.