Mindset Pharma announces the development of a new optimized intranasal formulation

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TORONTO, June 29, 2022 (GLOBE NEWSWIRE) — Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company”)a drug discovery and development company focused on creating optimized, patentable next-generation psychedelic-inspired drugs to treat neurological and psychiatric disorders with unmet medical needs, announced today that the company has developed a new patent pending intranasal platform formulation technology. to enhance central nervous system (CNS) penetration of first and subsequent generations of psychedelic drugs.

Mindset’s new intranasal formulation technology leverages its unique platform technology, a common feature of many of Mindset’s leading psychedelic drug candidates, altering the pharmacokinetic profile of the active pharmaceutical ingredient. The proof of concept (PoC) of this new formulation demonstrates better penetration into the CNS compared to standard formulations of 5-MeO-DMT. The data also demonstrates an increased exposure of CSF compared to plasma compared to a standard formulation by a factor of approximately 3. Using this unique formulation technology, it is possible to reduce the dose level, accelerate the uptake and outflow from the brain and reduce peripheral side-effects, thereby enabling more effective, safer and more cost-effective treatment.

“The intranasal formulation technology further enhances Mindset’s portfolio of complementary scientific assets. Today, the company has a leading portfolio of next-generation NCEs, patent-pending processes to synthesize first-generation compounds efficiently and cost-effectively, and a novel intranasal delivery system for improve the overall pharmacokinetic properties of first and second generation psychedelic drug candidates,” commented James Lanthier, CEO of Mindset Pharma. “We are very excited about the initial data from our intranasal technology using 5-MeO-DMT and look forward to expanding our validation data as we anticipate this technological advancement will be interchangeable with other known psychedelic and CNS therapies and The development of this formulation technology is another great example of Mindset’s drive for innovation and its consistent and continued focus on scientific rigor to help patients with CNS disorders with unmet medical needs.

The Company filed a PCT application on May 26, 2022, with a priority date of May 26, 2021.

To watch a video of Mindset’s CEO and CSO discussing the announcement in more detail, please visit: https://youtu.be/jNXAsIrE14s.

About Mindset Pharma Inc.
Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized, patentable next-generation psychedelic drugs to treat neurological and psychiatric disorders with unmet needs. Mindset was created to develop next-generation pharmaceutical actives that harness the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several new families of next-generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin in addition to its own proprietary compounds. The company has entered into a co-development agreement with the McQuade Center for Strategic Research and Development, a member of the Otsuka Pharmaceuticals family of companies, for its short-lived compounds, Mindset Families 2 & 4.

For more information about Mindset, please visit our website at www.mindsetpharma.com.

For more information please contact:

Investor contacts:
Allison Sos
KCSA Strategic Communications
E-mail: [email protected]
Phone: 212-896-1267
​​

Media Contact:
McKenna Miller
KCSA Strategic Communications
Email: [email protected]
Phone: 949-606-6585

Company Contact:
James Lanthier, CEO
E-mail: [email protected]

Jason Atkinson, Vice President, Corporate Development
E-mail: [email protected]
Phone: 416-479-4094

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


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