Mindset Pharma files national patents protecting Family 1 application in 16 different countries


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TORONTO, Sept. 07, 2022 (GLOBE NEWSWIRE) — Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company”)a drug discovery and development company focused on creating new, next-generation, optimized psychedelic and non-psychedelic drugs to treat neuropsychiatric and neurological disorders with unmet medical needs, today announced the filing of 16 different national applications for the protection of one of four of the company’s key families of new, next-generation psychedelics with differentiated characteristics.

These applications include several drug candidates that the Company classifies as “Family 1”, which are described as second-generation psilocybin analogs, with potential improvements in effect size, safety, safety and manufacturing compared to psilocin and psilocybin. Mindset’s Family 1 scaffold includes Mindset’s first elected clinical candidate, MSP-1014, which is the company’s most advanced drug candidate, a psilocybin-like chemical entity that has the potential to be a psychedelic treatment top notch and a more efficient alternative. MSP-1014 demonstrated improved efficacy, with reduced potential side effects and a safety profile compared to the first generation drug candidate, psilocybin, in preclinical studies. Mindset has filed national applications in a total of 16 different countries, including major Southeast Asian markets.

“With Mindset’s goal of disrupting existing treatment paradigms to improve patient outcomes, filing multiple international applications for Family 1 will provide protection for our drug candidates, especially as we plan to push MSP-1014 in human clinical trials as early as 2023,” said James Lanthier. , CEO of Mindset Pharma. “Mindset is applying cutting-edge innovative medicinal chemistry to expand our rich portfolio of optimized psychedelic drugs with improved overall efficacy and reduced toxicity profiles and we will continue to protect our compound pipeline and ensure we provide the most effective options. for patients with neurological disorders. and psychiatric disorders.

To further expand its Intellectual Property (IP) portfolio, Mindset also recently filed another USPTO Provisional Application applying an elegant new chemical structural strategy to Family 1, which has never been explored before, to to improve its overall intellectual property (IP) gap around candidates from Family 1.

The Company is pleased to announce that it has granted options to purchase an aggregate of 200,000 common shares of the Company (the “Common Shares”) exercisable at a price of $0.55 per share and expiring on September 2023, to an Investor Relations Advisor. the company.

About Mindset Pharma Inc.Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized, patentable next-generation psychedelic drugs to treat neurological and psychiatric disorders with unmet needs. Mindset was created in order to develop next-generation pharmaceutical actives that exploit the revolutionary therapeutic potential of psychedelic drugs. Mindset is developing several new families of next-generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin in addition to its own proprietary compounds. The company has entered into a co-development agreement with the McQuade Center for Strategic Research and Development, a member of the Otsuka Pharmaceuticals family of companies, for its short-lived compounds, Mindset Families 2 & 4.

For more information about Mindset, please visit our website at www.mindsetpharma.com.

For more information please contact:

Investor contacts:Allison Soss KCSA Strategic Communications Email: [email protected]Phone: 212-896-1267

Media Contact:McKenna MillerKCSA Strategic CommunicationsEmail: [email protected] Phone: 949-606-6585

Company Contact:James Lanthier, CEO Email: [email protected]

Jason Atkinson, Vice President, Corporate DevelopmentEmail: [email protected]Phone: 416-479-4094Forward-looking informationThis press release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is often 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 as of 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 actuals differ materially from those projected in the forward-looking information. information search. Additional information regarding risks and uncertainties relating to the Company’s business can be found under the heading “Risk Factors” in the Company’s Annual Information Form for the year ended June 30, 2020 dated March 5, 2021. Forward-looking information included in this news is made as of the date of this press release and the Company does not undertake to publicly update this forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE SUITABILITY OR ACCURACY OF THIS RELEASE.

National phase application is an application filed to obtain patent grant in different countries simultaneously on the basis of a single international/PCT application which is filed within 12 months from the priority date.

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Source: Mindset Pharma Inc.

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