Mindset data several Final Patent Applications on Its Novel Psilocybin-Inspired Compounds

Toronto, Ontario–(Newsfile Corp. – February 5, 2021) – Mindset Pharma Inc.(CSE: MSET) (FSE: 9DF) (“Mindset” or the “business”), a drug that is leading and development company focused on the development novel next generation psilocybin-inspired medicines and related technologies, is pleased to announce that the Company has filed 3 final patent applications with the U.S. Patent and Trademark Office (“USPTO”).

The patent applications cover a comprehensive range of novel diverse proprietary compounds designed to deliver similar therapeutic benefits to psilocybin with a lower overall liability that is metabolic predictable extent of action, with their associated processing methods, possible compositions, and therapeutic uses. The applications consist of both novel prodrug and deuterated derivatives of psilocybin, which may be prospects for the expedited b)2 that is 505 pathway, as well as potential novel sidechain-restricted psilocybin-inspired psychedelics. The elegant design of these compounds has drawn on multiple decades of drug design, medicinal chemistry and drug development by the Mindset scientific team.

Concurrently, these three applications were also filed under the Patent Cooperation Treaty (“PCT”) extending Mindset’s entitlement to seek patent protections for these inventions in member states to the PCT (which includes all major industrialized markets). Both the USPTO and PCT patent applications claim priority dates of the Company’s previously filed USPTO applications that are provisional that have been filed on February 4, 2020.

Joseph Araujo, Mindset’s Chief Science Officer commented, “Since filing patent that is provisional covering these novel families of proprietary compounds in February of 2020, we have made substantial progress towards demonstrating that compounds covered under these patent applications have unique pharmacological profiles that we believe have the potential to be effective at treating a variety of central nervous system disorders.”

Mindset CEO James Lanthier added, “Our filing of these patent applications is a milestone that is key our objective to generate revolutionary, novel medications targeted at enhancing results of clients experiencing neuropsychiatric and neurological indications. The progress that the business has made throughout the year that is past advancing these compounds towards clinical trials is a testament to the strength of the Mindset scientific team.”

The compounds covered under these 2 patent applications are currently undergoing in vivo screening. Following the results of the in program that is vivo Mindset promises to select lead substances to advance into investigational brand new medication (“IND”)-enabling studies also to register an IND application because of the U.S. Food and Drug management.

The Business additionally announces it has issued an aggregate of 15,000 choices to buy typical stocks of this Business, exercisable at a high price of $1.03 per share for a time period of five (5) years through the date of grant to a consultant that is certain of Company, in accordance with the terms of the terms of the Company’s stock option plan.

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
Chief Executive Officer
[email protected]

Jason Atkinson
VP, Corporate Development
[email protected]

About Mindset Pharma Inc.

Mindset Pharma 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. Mindset was established to develop generation that is next assets that leverage the breakthrough healing potential of psychedelic medications. Mindset is developing a few unique categories of next generation psychedelic substances, in addition to an process that is innovative chemically synthesize psilocybin along with its own proprietary compounds. www.mindsetpharma.com

Forward-Looking Information

This news release contains certain information that is”forward-looking inside the meaning of relevant securities legislation. Ahead information that is looking frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the information that is forward-looking. For a description associated with dangers and uncertainties dealing with the ongoing company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update information that is forward-looking circumstances or administration’s quotes or viewpoints should alter, unless needed for legal reasons. Your reader is cautioned not to ever put reliance that is undue forward-looking information.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY ACCURACY that is OR OF RELEASE.

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