- The McQuade Center (MSRD) will support the development of two families of Mindset’s novel medical psychedelic compounds through Phase 1a and Phase 1b clinical trials
- MSRD, a member of the global Otsuka family of pharmaceutical companies, has made an upfront cash payment of US$5 million to Mindset
- MSRD and Mindset may agree to expand the collaboration to continue to develop the compounds as pharmaceutical products
- Mindset Pharma is a drug discovery and development company focused on creating next-generation psychedelic medicines
- Mindset Pharma (MSET) opened trading at C$0.87 per share
The McQuade Center (MSRD) and Mindset Pharma (MSET) have announced a collaboration to support the development of psychedelic medicines.
MSRD, a member of the global Otsuka family of pharmaceutical companies, has made a strategic investment to support the discovery and development of novel chemical entity assets of Mindset.
The McQuade Center will support the development of two families of Mindset’s novel medical psychedelic compounds through Phase 1a and Phase 1b clinical trials. Under the terms of the agreement, MSRD and Mindset may continue to develop the compounds as pharmaceutical products.
Mindset has granted MSRD a right of first refusal with respect to any sale, licensing or collaboration opportunities pertaining to the drugs and a right of first negotiation with respect to a merger, acquisition or asset sale related to Mindset, in exchange for the upfront payment and funding of the development of Mindset’s novel compounds.
James Lanthier, CEO of Mindset sat down with Caroline Egan to discuss the partnership.
“It is our great pleasure to collaborate with MSRD to further the development of two of our families of novel psychedelic compounds. We look forward to leveraging their extensive experience in drug development and CNS indications to accelerate and de-risk our development pathway as we prepare to launch clinical trials.”
“There is a high unmet need for innovative treatments of mental illness. This collaboration further validates our belief that optimized and patentable next-generation psychedelic compounds will be the future of treatments for mental illness.”
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.
Mindset Pharma Inc. (MSET) opened trading at C$0.87 per share.