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    MSET   CA60268M1023

MINDSET PHARMA INC.

(MSET)
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Mindset Pharma Develops Highly Specialized Preclinical Rodent Trained Studies with Its Drugs to Differentiate Between Their Psychedelic and Non-Psychedelic Effects

09/07/2021 | 07:33am EDT

TORONTO, Sept. 07, 2021 (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 and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet medical needs, today announced that it has developed first-in-class studies to enable the Company to confirm the psychedelic effect of its novel compounds with greater accuracy.

In partnership with InterVivo Solutions, Mindset has trained rats to discriminate psilocybin effects from saline via oral and subcutaneous dosing, which to the Company’s knowledge is a first in the psychedelics field of research. By training animals to discriminate psilocybin from saline, Mindset can better determine if they are "experiencing" psilocybin-like effects when administered the Company's proprietary compounds. Mindset will have an exceptionally strong indicator confirming the efficacy, safety, and duration of its novel proprietary psychedelic drug candidates, and will be able to support its lead compounds as they progress towards clinical trials.

Mindset has also confirmed within this test that LSD generalizes to the psilocybin cue, at approximately 1/10th of the dose of psilocybin, or approximately 10 times the potency of psilocybin. Additionally, Mindset has demonstrated, for the first time that we are aware of, that orally administered psilocybin shows nearly identical stimulus generalization to subcutaneously administered psilocybin, which will allow Mindset to confirm oral bioavailability of Mindset NCE’s.

James Lanthier, CEO of Mindset, commented: "Mindset has run a battery of highly specialized in vitro and in vivo tests on its patent pending novel compounds to select the most optimized psychedelic drug candidates for further development. This latest innovative test will enable Mindset to further strengthen the translational potential of Mindset's proprietary compounds, and better understand the molecular mechanisms and neuronal circuits underlying their neuropsychological effects.”

To watch a video of Mindset’s CEO discuss the announcement in greater detail, please visit: https://youtu.be/eKH-sEU1knw

About Mindset Pharma
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 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 psilocybin as well as its own proprietary compounds.

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

For more information, please contact:

Investor Contact:
Allison Soss/Tim Regan
KCSA Strategic Communications
Email: MindSet@kcsa.com
Phone: 212-896-1267/ 347-487-6788

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 ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


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ę GlobeNewswire 2021
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Financials
Sales 2020 - - -
Net income 2020 -0,64 M -0,52 M -0,52 M
Net cash 2020 0,54 M 0,44 M 0,44 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 67,6 M 54,7 M 54,6 M
EV / Sales 2019
EV / Sales 2020 -
Nbr of Employees -
Free-Float -
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Managers and Directors
James Andre Charles Lanthier Chief Executive Officer
Arvin Ramos Chief Financial Officer
Richard J. Patricio Chairman
Joseph Araujo Director & Chief Science Officer
James Christopher Passin Director
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