Mindset Pharma is on the fast track in the race for psychedelics-based medicines and it is rapidly expanding its portfolio. It is one of the companies that are aggressively pushing into the new frontier of medical research involving psychedelics.

Mindset recently announced that it filed for a provisional patent for a newly synthesized compound derived from tryptamine. The patent filing with the U.S Patent and Trademark Office adds to the growing list of drug patents that the company has so far filed, and it now has 50 pending patents.

“The data generated by Mindset’s pre-clinical program continues to drive our development, and we are excited to share that our drug discovery and program is broadening considerably from where we originally began,” stated Midset CEO, James Lanthier.

The patents highlight Mindset’s large portfolio of psychedelics-based compounds that have promising pharmacokinetic and pharmacological properties. They can potentially provide differentiated pipeline therapies for a variety of health conditions, especially those affecting the central nervous system. The biopharma is currently working on lead and backup psychedelic compounds which it plans to use in studies whose findings will be used in IND applications.

Mindset eyes poll position in the psychedelics race

Dr. Malik Slassi, the lead Medical Chemist at Mindset believes that the vast portfolio gives the company a significant advantage against the competition. The industry is still in its early stages and the company that will be the first to deliver working medicines derived from psychedelics will get the first mover advantage, which will pave way for huge marketing opportunities.

Mindset researchers are currently shifting their attention towards understanding how receptors in the brain interact with the compound structures of psychedelics. Unlocking this area of understanding will be of great use to the company because it will allow them to determine and understand other critical aspects of their studies, such as whether there will be any risks or the associated benefits.

The pharmaceutical company is optimistic about its current exploration of psychedelics and the medical benefits they can potentially offer. It is also confident that psychedelics will be a high-growth opportunity that is why it believes investors can reap big from it. It went public on the Canadian Securities Exchange (“CSE”) as part of its plan to source more capital and focus on growth.

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