Mindset Pharma Announces Patent Application Covering Family 3 Compounds

Mindset Pharma (CSE: MSET) (OTCQB: MSSTF) today announced that it has filed an international patent application covering its Family 3 novel psychedelic compounds.

Mindset’s Family 3 consists of certain compounds that have demonstrated half-lives extending beyond those exhibited by comparable classical psychedelic drugs with no significant reduction in binding affinity at the serotonin 5-HT2A receptor.

“Our family 3 compounds are substantially differentiated from the other families that we are pursuing in that we believe they may demonstrate pro-cognitive benefits at doses without hallucinogenic liability.  This paired with their longer half-lives makes them interesting drug candidtes for treating more fragile population groups such as children or geriatric patients where the psychedelic effect is likely undersirable,” said Joseph Araujo, CSO of Mindset.  “Alos, we believe that such compounds may be optimal for indications in which a long term, micro-dosing, paradigm is advantageous, such as ADHD or Alzheimer’s disease.”

This application claims the priority date of Mindset’s previously filed provisional application with the United States Patent and Trademark Office (USPTO) on December 7, 2020.

Mindset also announced that it has granted 500,000 options to purchase common shares to a consultant of the company, exercisable at a price of $0.69 per common share for a period of five (5) years from the date of grant, in accordance with the terms of the company’s stock option plan.  The common shares issuable upon exercise of the options are subject to  statutory hold period of four months and one day from the date of grant.

 

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