Mindset Pharma Inc
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Health Care : Pharmaceuticals |
Based in Canada
Company profile

Mindset Pharma Inc. is a Canada-based drug discovery and development company. The Company is engaged in the psychedelic-based drug discovery business focused on creating patentable psychedelic compounds for the treatment of neurological and psychiatric disorders. Its drug development platform seeks to advance medicines based on psychedelic substances through rigorous scientific and clinical trials, performed by third-party contract research organizations. The Company has developed 4 families of next-generation psychedelics with differentiated characteristics. The Company's portfolio consists of macrodosing and microdosing. Its macrodosing includes Family 1/MSP-1014, Family 2, and Family 4. The MSP-1014 is a new chemical entity that incorporates a conjugated amplifier into a psilocybin-like structure to create an effective drug. The Company's Family 3 is a long-acting next-generation psychedelic drug positioned for micro-dosing.

Closing Price
$0.2458
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.2503
Day's Low
0.2052
Volume
(Heavy Day)
Volume:
32,010

10-day average volume:
14,369
32,010

Mindset Pharma and PharmAla Complete First Sale of Pharmaceutical Grade Psilocybin Into Growing Australian Market via Sales Partnership

7:00 am ET March 6, 2023 (Globe Newswire) Print
Mindset Pharma and PharmAla Complete First Sale of Pharmaceutical Grade Psilocybin Into Growing Australian Market via Sales PartnershipGlobeNewswireMarch 06, 2023

TORONTO, March 06, 2023 (GLOBE NEWSWIRE) -- Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) ("Mindset" or the "Company"), a drug discovery company developing novel, optimized, next-generation psychedelic and non-psychedelic medications to treat neuropsychiatric and neurological disorders with unmet medical needs, and PharmAla Biotech Holdings Inc. ("PharmAla")(CSE: MDMA), a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA, today announced that PharmAla has completed the first sale of a quantity of Mindset's cGMP (i.e. pharmaceutical grade) psilocybin under their exclusive sales agreement.

The psilocybin is being purchased by Reset Mind Sciences Limited ("Reset"), a Western Australian based company focused on psychedelic medicines, and a subsidiary of ASX listed Little Green Pharma ("LGP"). Reset recently received human research ethics committee approval for a clinical trial investigating psilocybin assisted psychotherapy protocols for patients with treatment resistant major depressive disorder.

"We're pleased to see the first sale of our pharmaceutical grade psilocybin completed through our partnership with PharmAla," said James Lanthier, CEO of Mindset. "Since the recent approval of psilocybin and MDMA as prescription medicines in Australia, we have seen great interest from Australian companies in our psilocybin supply. Given the regulatory developments in Australia, we expect this to be the beginning of a fruitful partnership between Mindset and PharmAla thanks to the combined strengths of our novel synthesis processes and sales infrastructure."

"This is further validation of our sales and development model," said Nick Kadysh, CEO of PharmAla. "As markets like Australia begin to open to clinical treatments, the pace of research will go up - not down. PharmAla continues to provide best-in-class regulatory support to our clinical trial customers, and we look forward to helping Reset Mind Sciences as they progress through their exciting R&D program."

About PharmAla

PharmAla Biotech Holdings Inc. (CSE: MDMA) is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA. PharmAla was founded with a dual focus: alleviating the global backlog of generic, clinical-grade MDMA to enable clinical trials, and to develop novel drugs in the same class. PharmAla is the first publicly-traded company to manufacture clinical-grade MDMA. PharmAla's research and development unit has completed proof-of-concept research into ALA-002, PharmAla's lead drug candidate. PharmAla is a "regulatory first" organization, formed under the principle that true success in the psychedelics industry will only be achieved through excellent relationships with regulators.

For more information, visit www.PharmAla.ca.

About Mindset Pharma Inc.

Mindset Pharma Inc. 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 in order to develop next-generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next-generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybins in addition to its own proprietary compounds. The company has 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-duration compounds, Mindset Families 2 & 4.

For further information on Mindset, please visit our website at www.mindsetpharma.com.

For more information, please contact:

Investor Contact:

Allison Soss

KCSA Strategic Communications

Email: MindSet@kcsa.com

Phone: 212-896-1267

Media Contact:

McKenna Miller

KCSA Strategic Communications

Email: MindSet@kcsa.com

Phone: 949-606-6585

Company Contact:

James Lanthier, CEO

Email: jlanthier@mindsetpharma.com

Jason Atkinson, VP, Corporate Development

Email: jatkinson@mindsetpharma.com

Phone: 416-479-4094

Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is 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 forward-looking information. Additional information regarding risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

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





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