Mindset Pharma selects next-generation psychedelic compound MSP-1014 as its lead clinical candidate

Mindset Pharma Inc (CSE:MSET) (OTCQB:MSSTF) (FRA:9DF) has selected next-generation psychedelic compound MSP-1014 as its lead clinical candidate. 

In a statement, the company said the differentiated psilocybin-based compound will move forward into current good manufacturing practice (cGMP) compliant manufacturing and investigational new drug (IND)-enabling studies. 

“The selection of Mindset’s first lead candidate, MSP-1014, is a significant milestone in our clinical journey,” said CEO James Lanthier.  “We are excited to enter the final preclinical development step prior to commencing first-in-human clinical trials. Our next-generation psychedelic compounds represent the flourishing evolution of therapeutics to effectively address neurological and neuropsychiatric disorders.” 

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Lanthier said MSP-1014 demonstrated superior preclinical characteristics in a head-to-head comparison with psilocybin and its active metabolite psilocin, including increased safety and efficacy, which the company believes will potentially result in lower clinical doses. 

“MSP-1014 has the potential to be a safer, more efficacious analog to psilocybin, with reduced potential side effects,” he said. 

“Given its chemical profile, we anticipate that MSP-1014 will have the potential to treat mood disorders, including major depressive disorder, substance misuse disorders and end-of-life angst associated with terminal illnesses, including cancer. Therefore, we believe that MSP-1014 has the potential to be a first-in-class psychedelic drug candidate. With our first lead candidate selected, Mindset continues to steadily advance its position in developing innovative next-generation psychedelic therapeutics that couple the life-changing potential of psychedelic drugs with novel and patentable new chemical entities that are more predictable, convenient, and safer than first-generation psychedelics.”

Mindset said its Family 1 of novel, patent-pending psychedelic compounds leverage state-of-the-art modern drug design using conjugated and deuterated psilocybin and psilocin design strategies to improve on psilocybin’s potential toxicity and pharmacokinetic profiles. 

Preclinical studies

The company said rodent preclinical studies showed that MSP-1014 displayed superior in vivo and safety profiles in mice compared to psilocybin at a range of doses, and 5-HT2A subtype activation in rats. 

Mindset said it has run a comprehensive range of specialized in vitro and in vivo tests on its patent-pending novel compounds to select the optimal psychedelic drug candidate for progressing towards human clinical trials. These studies have revealed a high rate of success among many of its compounds, giving Mindset an exceptional pool of new drug candidates from which it will continue to identify additional suitable compounds. 

The company added that it intends to further develop candidates from Mindset Families 2-4 with the goal of selecting additional lead candidates in the near future.

Toronto-based Mindset 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.

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Story by ProactiveInvestors