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Is This Company Poised to Accelerate the Psychedelic Revolution?

Stockhouse Editorial
1 Comment| December 9, 2021

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(Image via Mindset Pharma Inc.)

Investors have been magnetized to what has happened in the psychedelic industry this year. From excellent progress in drug development, IP development, clinic operations, and corporate development, the industry has also endured a more mixed year in terms of reform of drug laws and stock price performance.
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This year may have gone down as a mighty entrance to the major markets in the minds of traders following last year. Investment hype around psychedelics has continued through much of the year, with even more companies hitting the big leagues, such as Toronto ON-based Mindset Pharma Inc. (CSE: MSET, OTCMKTS: MSSTF, Forum).

Highlighting a series of pipeline updates and notable achievements through the last 11 months, Mindset recently released a corporate update in addition to its financial results for the 2021 fiscal year.

Net loss for the fiscal year was $11.7 million. However, Mindset concluded the 2021 fiscal year with approximately $6.6 million in cash and believes that it is well capitalized for continued growth.

“During fiscal 2021 and subsequent months, our team made tremendous progress developing and advancing our vast library of next-generation psychedelic compounds as well as creating state-of-the-art, standard-setting processes for evaluating novel psychedelic drug candidates, which will prove valuable for the psychedelics industry at large,” said Mindset CEO James Lanthier in a media release.

Corporate highlights in 2021 include an expanded patent portfolio, advancing its lead drug candidate toward clinical trials, developing first-in-class benchmarking, and identifying a new technology platform.

The company also enhanced its leadership and advisory teams with the appointments of Dr. Malik Slassi as Senior Vice President of Innovation, Mr. Ian Dean as Director of Preclinical Development, and Drs. Michael Rogawski, Guy Higgins, Joseph Gabriele, and Ishrat Husain to its Scientific Advisory Board.

To date, Mindset has synthesized and screened over 100 compounds to select the optimal psychedelic drug candidates for progressing towards clinical trials.

“Our overarching goal is to select the most promising clinical candidates from our ongoing discovery work and advance them into the clinic as quickly as possible, either through partnerships or directly ourselves,” he said.

The company has identified four families of compounds that it plans to advance to clinical trials.

Family 1
  • In June 2021, Mindset selected its first lead clinical candidate, MSP-1014, a differentiated psilocybin-based analog, to move forward into current good manufacturing practice (cGMP) compliant manufacturing and IND-enabling studies with a goal of reaching clinical stage in 2022.
  • In September 2021, Mindset announced treatment-resistant depression and end of life cancer angst as initial indications for MSP-1014.
Family 2
Family 3
  • In August 2021, Mindset’s long-acting, psilocybin-like, analogs demonstrated extended duration of action and decreased effect size at the 5-HT2A receptor. These results indicated a potentially significant improvement in the sustained efficacy and safety profile of current microdosing practices.
Family 4
  • In September 2021, Mindset identified three pipeline opportunities from its DMT and 5-MeO-DMT-inspired novel drug candidates, MSP-4018, MSP-4019 and MSP-4020.
  • In preclinical studies, MSP-4018, MSP-4019 and MSP-4020 demonstrated a significant decrease in signs of serotonergic toxicity, which is a considerable health risk associated with the first-generation psychedelic, 5-MeO-DMT.

Mindset is focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. This drug discovery and development company is only in the early innings of what would ultimately be a massive market and a comprehensive revolution in how mental illness is treated.

Mindset Pharma has a chance to play a significant role in all of this … who wouldn’t want to be part of something like that?

For mor information on the company, visit

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.

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