Towards the end of last year, Mindset Pharma Inc. (CSE: MSET) a psychedelic-based, drug-discovery company that creates new psychedelic compounds to help manage treatment-resistant neurological and psychiatric disorders, announced that it had filed a provisional patent application with the U.S. Patent and Trademark Office. The company began trading on the Canadian Securities Exchange last year.
Under the latest patent application, the company has synthesized new tryptamine compounds. This has increased the number of potential drug candidates under the firm’s new drug-discovery and development program to 50.
Mindset CEO James Lanthier stated that the data generated by the company’s pre-clinical program was behind Mindset’s development, adding that the company was excited to share that it’s drug-discovery program was growing significantly, especially when compared to where the company began. Lanthier’s statements were backed with the results the company has provided in its years of operation.
Pre-clinical screening data from the Mindset suggests that the company is creating an extensive portfolio of novel psychedelic compounds that have been extracted from various chemical scaffolds. The compounds have a variety of pharmacokinetic and pharmacological properties that possess the potential to produce modified drug candidates across and within Mindset patent families.
Variations in the drug candidates’ duration of action and effectiveness mean that different compounds may be appropriate for various central nervous system indications. Mindset will be finalizing a list of back-up and lead compounds to proceed to Investigational New Drug enabling studies by the second quarter of this year.
Mindset chief medicinal chemist Dr. Malik Slassi stated that the company believed that the extensive range of chemically diverse compounds that it was studying represented a considerable competitive advantage as Mindset pursues its goal of creating better next-generation psychedelic medication to treat a broad patient base. He added that the activity-structure relationship data that was produced during the studies of these compounds would be helpful to Mindset’s scientific team in its efforts for drug development. This data includes information that led to the understanding of the relationship between receptor activity and compound structure.
Slassi then added that Mindset was constantly making progress towards the development of next-generation and new psychedelic drug candidates that could be patented. He noted that the company looked forward to sharing any updates on its manufacturing process program as well as its new drug program. Things are indeed looking up for the psychedelic industry.
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