TORONTO, April 26, 2023 (GLOBE NEWSWIRE) -- Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company”), a drug discovery company developing novel, optimized, next-generation psychedelic and non-psychedelic medications to treat neuropsychiatric and neurological disorders with unmet medical needs, today announced that it has filed two international patent applications under the Patent Coorperation Treaty (“PCT”) for the protection of certain of Mindset’s non-hallucinogenic novel non-tryptamine compounds known as “Family 6.” The filings are based on pre-clinical studies and provide Mindset with preliminary freedom to operate for all claimed drug candidates from Family 6.

“By applying Mindset’s innovative drug discovery and development platform on novel psychedelic-inspired non-hallucinogenic drug candidates, we have begun to see results. We believe that this class of drugs may have the potential to treat a substantially wider patient population including fragile population groups such as children or geriatric patients,” said James Lanthier, CEO of Mindset Pharma. “Additionally, by reducing or removing the psychedelic effect, in-clinic supervision should not be necessary, in turn reducing cost and improving convenience of these treatment options.”

“The pre-clinical study results underpinning the candidates identified in these patent applications are highly promising. Work performed on these novel non-tryptamine candidates, which included in-vitro screening, and ADME (absorption, distribution, metabolism, and excretion), along with in vivo studies, indicates 5-HT2A serotonin receptor activation without the cardinal in vivo signs of a hallucinogenic effect. While some Family 6 compounds are functionally more potent than psilocybin and 5-MeO-DMT as 5-HT2A agonists, these drug candidates elicited only a modest or no head twitch response, suggesting a non-hallucinogenic effect profile. We look forward to sharing future progress on our non-hallucinogenic psychedelic-inspired compounds,” concluded Mr. Lanthier.

To watch a video of Mindset’s CEO and CSO discussing the announcement in greater detail, please visit: https://www.youtube.com/watch?v=x8bRpfpDnb0.

About Mindset Pharma Inc.
Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable best-in-class innovative 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 psilocybins in addition to its own proprietary compounds. The company has a co-development agreement with the McQuade Center for Strategic Research and Development, a member of the Otsuka Pharmaceuticals family of companies, covering multiple drug development programs.

For further information on Mindset, please visit our website at www.mindsetpharma.com.

For more information, please contact:

Investor Contact:
Allison Soss
KCSA Strategic Communications
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: 212-896-1267
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Media Contact:
McKenna Miller
KCSA Strategic Communications
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Phone: 949-606-6585

Company Contact:
James Lanthier, CEO
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Jason Atkinson, VP, Corporate Development
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Phone: 416-479-4094

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.

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