“Any thinking person should find the topic of psychedelics intriguing because of the window of altered perception they open and the questions of consciousness they pose for anyone who tries them”.
– James Lanthier, Mindset Pharma
We caught up with one of our favourite psychedelics’ CEOs in the space. That is James Lanthier, of Mindset Pharma (CSE: MSET)(OTCQB: MSSTF). He was on another podcast, “The Entheogenic Evolution with Martin W. Bell. It was a pleasant free-flowing conversation, and Martin steered it to topics that we like to think about. Its great that James is making the media rounds, as he’s spearheading a company with a unique proposition and a compelling vision on the industry.
James is a resident of a place that’s become a major hub for psychedelics drug development – the city of Toronto where James has spent a lot of time growing companies in the public markets.
Here’s some insights from their talk. We want you to be knowledgeable investors – and sharing is caring.
MSET’s Approach to Psychedelic Drug Development
Due to the 60-year long prohibition on psychedelics, an opportunity emerged as first-generation drugs (we’re looking at you psilocybin) gained public awareness. There was a chance to create newer drugs that would:
1) work better than the old ones
2) be patentable in a way that first-generation drugs were not.
This is the where the real value in drug development lies.
Mindset believed that big pharmaceutical companies would eventually move into the space. When they did, they would choose to work with psychedelic drugs that would meet the criteria above. Big pharma would start with drugs that are novel and have strong IP rights.
Pay attention. This is happening NOW.
The people at Mindset Pharma are very good at first stage drug discovery. They partner with companies (like Otsuka) that specialize in clinical trials, commercialization and have a great relationship with patients. We believe that, like it or not – big pharma wins big games and makes big gains. They know what indicators to target, they can leap over regulatory/developmental hurdles; they know how to bring a drug to market ASAP.
Working around Problems with First-Generation Drugs
First generation drugs appear to work well – but they’re not perfect. Relax. Don’t get mad. For example 5-MEODMT and DMT provide a strong hallucinogenic experience, but it lasts up to 8 hours. Wouldn’t it be nice if there was an analog that was shorter-acting?
Mindset has a comprehensive and detailed screening process. They design the drug – with improved characteristics, developing a unique molecular structure that’s patentable through their proprietary methodology.
They then run the molecule through tests in petri dishes to see how chemically stable they are etc. If the molecule makes it this far, they conduct trials on mice and see where the benefits and differentiators reside.
This is a similar methodology that’s used in developing big pharmaceutical drugs.
The Best… is Yet… to Come
Mindset’s scientific team keeps creating novel drugs. But wait – novel is just not good enough. Creating a psilocybin analog that is patentable just because it has a new molecular structure is alright. The pharmaceutical market REALLY craves differentiators.
As psilocybin becomes decriminalized and used by psychiatrists, firms will need to show that their novel drug is better than the competition. If you’re the new talent and you have the coaches’ attention – you’ll need to prove yourself on the field to become the star player and the #1 option.
Stop Crying about Natural vs Synthetics
Its 2022. It took decades worth of experiments and trials to get some of the everyday medications we use into pill form. Also, something to think about – what if a drug in its natural form, like shrooms gives you allergies? Gas? Right now, the easily available source of psilocybin for the public ARE mushrooms. Should people be denied psilocybin if they’re unable to digest it in its raw form? What if your medical needs only require a specific volume – how are you going to measure the dose, hmmm?
It doesn’t make sense to take sides – there’s room for both. There’s no reason why we can’t have a future world where psychedelics are de-criminalized; used for traditional healing, and spiritual practices – while synthetic drugs are used in a clinical therapy / medical environment. Synthesizing drugs opens psychedelics by maximizing accessibility to those suffering from mental health issues.
Mindset Pharma is a market awareness client of Capital 10X.
The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.