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Mindset Pharma Selects Treatment-Resistant Depression and End of Life Cancer Angst as Indications for MSP-1014, its Novel Psilocybin-Inspired Clinical Candidate

Mindset Pharma Selects Treatment-Resistant Depression and End of Life Cancer Angst as Indications for MSP-1014, its Novel Psilocybin-Inspired Clinical Candidate

TORONTO, Sept. 09, 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 it has selected Treatment-Resistant Depression (“TRD”) and End of Life Angst as initial target indications for its lead clinical candidate, MSP-1014. MSP-1014 is a novel patent-pending drug candidate that, based on preclinical data, shows potential to be a safer second generation psilocybin-like therapy with decreased potential for side effects.

“Psilocybin has demonstrated encouraging efficacy in treating TRD and End of Life Cancer Angst in a number of clinical studies and we believe our novel drug candidate, MSP-1014, represents a safer and more scalable evolution to its psilocybin predecessor,” said James Lanthier, CEO of Mindset. “TRD represents a large and untreated population with ⅓ of major depressive disorder sufferers resistant to presently available treatments1, while End of Life Angst is a major cause of depression and anxiety with limited treatment options. We see an opportunity to bridge a significant treatment gap with our next generation medicine and plan to advance MSP-1014, as well as other candidates across our library of patent-pending compounds, through the regulatory process as quickly as possible.”

“In a head-to-head comparison with psilocybin, MSP-1014 demonstrated superior head twitch response and minimal change in core body temperature, which suggests our compound potentially produces a greater hallucinogenic response with an improved safety profile,” stated Joseph Araujo, Chief Scientific Officer of Mindset. “Furthermore, MSP-1014 leverages Mindset’s proprietary psilocybin synthesis process, enabling scale-up efficiency in manufacturing and positioning us well for progressing our novel drug candidate through to clinical trials.”

To watch a video of Mindset’s CEO discussing the announcement in greater detail, please visit: https://youtu.be/O1NZe05u34Y.

1Jaffe, D.H., Rive, B. & Denee, T.R. The humanistic and economic burden of treatment-resistant depression in Europe: a cross-sectional study. BMC Psychiatry 19, 247 (2019).

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.

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How to tell if a rat is tripping

Mindset Pharma Develops Highly Specialized Preclinical Rodent Trained Studies with Its Drugs to Differentiate Between Their Psychedelic and Non-Psychedelic Effects

Mindset Pharma (MSET) developed a new test that eliminates one of the biggest challenges of developing a new psychedelic drug.

It can difficult to determine whether or not animals perceive a psychedelic experience when testing a new drug, but human trials are much more expensive. Mindset’s test offers a new solution.

By training rats to discriminate psilocybin from saline, Mindset developed a test that allows rats to communicate whether or not they perceive a new drug to be similar to psilocybin, which will help the company select its lead compounds for human clinical trials.

The company also announced that its psilocybin-inspired compound, MSP-1014, will target treatment resistant depression and end of life cancer angst.

 

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Another stock to keep on your radar

Field Trip Stock Could Climb 300% In One Year

It was a big week for this Toronto company!

Last week, HC WainWright gave Field Trip Health (FTRP) a Buy rating, predicting that it will increase from $4.50 to $20 per share in just one year!

The firm noted that Field Trip’s propriety psilocybin analog, FT-104 could soon have some of the strongest intellectual property protection in the sector.

Since the analysis, the company has opened Europe’s first psychedelic therapy healthcare facility in Amsterdam, expanding its network of clinics to six facilities.

Then on Thursday, Field Trip announced that its preparing for Phase I clinical trials, which will commence early next year, to investigate FT-104 in treating post-partum depression and treatment resistant depression.

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Studying the most depressed patients

Braxia Scientific to Commence Landmark Clinical Trial to Conduct Canada’s First Multiple-Dose Psilocybin Clinical Trial for Treatment Resistant Depression

“This will be the broadest study of its kind.”

This morning, Braxia Scientific (BRAX) announced that it’s launching Canada’s first multiple-dose psilocybin trial for treatment resistant depression (TRD).

Most TRD studies recruit patients who have tried a maximum of five other treatment options, but this study will have no upper limit on the number of failed treatments. Braxia researchers will even include patients who’ve gone through dozens of medical trials with no success, including ketamine and electroconvulsive therapy patients.

The randomized clinical trial will also include some patients with bipolar depression or comormid disorders, which are typically excluded from psychedelic studies.

“By including everyone with more than two failed medical trials, we are increasing the degree to which the results can be applied to a larger population, making our findings much stronger”, said the trial’s principal investigator.