Mindset Pharma Commences In Vivo Program for Its Proprietary Next Generation Psychedelic Drug Candidates and Provides Corporate Update

Toronto, Ontario–(Newsfile Corp. – October 20, 2020) – Mindset Pharma Inc. (“Mindset” or the “Company“), a drug discovery and development company at the forefront of the evolving psychedelics space, today announced that it has begun confirmatory in-vivo studies with InterVivo Solutions Inc. (“InterVivo Solutions“) to further profile the efficacy, safety and pharmacological properties of Mindset’s broad portfolio of patent-pending psychedelic drug candidates.

Mindset was established to discover, develop and deploy next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset has discovered and is qualifying several novel families of psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin as well as its own proprietary compounds.

In February of 2020, Mindset filed two composition of matter patent applications covering several novel diverse chemical scaffolds protecting the discovery and development of new chemical entities, with a superior therapeutic benefit to psilocybin in terms of efficacy, safety and overall pharmacokinetic properties. Mindset continues to synthesize a number of compounds and advance them through a range of human serotonin subtype receptor assays. These assays indicate that a number of the Mindset compounds display agonism at the key 5HT2A receptor similar to, and in some cases superior to, psilocin, the active metabolite of psilocybin. The range of performance of the portfolio of Mindset compounds at these receptors has enabled Mindset to gain a richer understanding of the structure-activity relationship of the two chemical families and continue to support Mindset’s first-to-file advantage.

Mindset is now advancing its proprietary compounds through a highly focused and carefully designed in-vivo program to further elucidate their pharmacokinetic properties, safety profile, and efficacy, with a goal of selecting one or more lead drug candidates to advance to proof of concept human clinical trials.

Mindset’s CEO James Lanthier commented, “Mindset is thrilled to begin this crucial in-vivo program milestone with InterVivo Solutions, a well-established and leading contract research organization providing gold-standard central nervous system (“CNS“) translational animal models for drug development. InterVivo’s expertise in predictive CNS and neurological models will be invaluable to Mindset in our drive to reach our next key milestone of selecting lead compounds to advance through investigational new drug application enabling studies to human clinical trials. We expect to complete our animal program by mid-2021, including safety studies. Meanwhile, we anticipate sharing new data as we advance through our milestones.”

Additionally, Mindset continues to conduct further in-vitro studies on its portfolio of patent-pending compounds to further deepen its data profile of its proprietary innovative psychedelic molecules.

“We are passionate about developing new, innovative medicines to treat the greatest possible number of patients suffering from neuropsychiatric indications,” said Mr. Lanthier. “We strongly believe that novel, psychedelic-inspired drug candidates engineered for optimal pharmacological and pharmacokinetic profiles are critical to this mission. Mindset is building a diverse portfolio of intellectual property to meet this unmet medical need, and we look forward to sharing further news and developments shortly.”

Mindset is also pleased to announce that it has submitted an initial listing application (the “CSE Listing“) to list its securities on the Canadian Securities Exchange. Mindset will provide further updates on the status of the CSE Listing in subsequent news releases.

For more information, please contact:

James Lanthier, CEO
Mindset Pharma Inc.

Jason Atkinson, VP of Corporate Development
Mindset Pharma Inc.

About Mindset

Mindset Pharma 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.

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. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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