Mindset Pharma Further Validates Lead Candidate, MSP-1014, as a Next Generation Psilocybin Analog through Drug Discrimination Assay

Rhea-AI Summary

Mindset Pharma has reported promising results for its lead candidate, MSP-1014, in a drug discrimination assay, demonstrating effects comparable to psilocybin. The study identified an effective dosage of 0.6 mg/kg with no adverse effects at doses up to 2 mg/kg. This further confirms MSP-1014 as a viable second-generation psychedelic drug. The company aims to continue preclinical studies and prepare for human clinical trials. The results underscore Mindset's commitment to developing next-generation psychedelic medicines for neurological and psychiatric disorders.

Positive

• MSP-1014 demonstrated comparable effects to psilocybin in drug discrimination assays.
• Effective dosage of 0.6 mg/kg identified with no adverse effects up to 2 mg/kg.
• Results support MSP-1014 as a potential second-generation psychedelic drug.

Negative

• None.

TORONTO, Sept. 14, 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 its lead candidate, MSP-1014, was comparable to psilocybin assessed using a drug discrimination assay. The results suggest that MSP-1014 induces a similar perceptual state to psilocybin, further confirming the viability of MSP-1014 as a therapeutic analog of first-generation psilocybin as the Company advances MSP-1014 into the clinic.

“In the drug discrimination assay, MSP-1014 demonstrated a dose dependent and full generalization to a psilocybin discriminative cue in rats,” stated Joseph Araujo, Chief Scientific Officer of Mindset. “Furthermore, we identified an effective dosage of 0.6 mg/kg for subcutaneous administration of MSP-1014 with no detrimental effect on the response rate up to doses of 2 mg/kg. MSP-1014 also showed a dose dependent generalization to a psilocybin cue following the oral route of administration. These results further validate MSP-1014 as an effective second-generation psilocybin-like drug candidate.”

“We continue to perform studies across various preclinical models with MSP-1014 and our library of next generation psychedelic compounds. Our goal is to show the differentiation of our novel drug candidates and build a catalog of translational data as we prepare for human clinical trials,” said James Lanthier, CEO of Mindset.

To watch a video of Mindset’s CEO discussing the announcement in greater detail, please visit: https://youtu.be/tYa3sFjGblY.

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 are the results of MSP-1014 in the drug discrimination assay?

MSP-1014 was found to have effects comparable to psilocybin, demonstrating effective dosages and generalization to psilocybin cues.

What dosage was effective for MSP-1014?

The effective dosage for MSP-1014 was identified as 0.6 mg/kg, with no negative effects observed up to 2 mg/kg.

Is MSP-1014 a second-generation psychedelic drug?

Yes, the results confirm MSP-1014 as a viable second-generation psychedelic candidate.

When will Mindset Pharma begin human clinical trials for MSP-1014?

Mindset plans to continue preclinical studies as part of its preparation for human clinical trials.