- Mindset Pharma (MSET) announced a licensing agreement allowing Cybin (CYBN) to acquire intellectual property rights for a subset of Mindset’s preclinical compounds
- The agreement includes an initial payment of US $500,000 to Mindset, along with additional milestone payments that could total up to US$9,500,000
- The agreement also includes a sales royalty of approximately 2 per cent for all commercialized licensed products within the scope of the agreement
- Mindset Pharma is a drug discovery and development company
- Mindset Pharma Inc. (MSET) opened trading at C$0.35
Mindset Pharma (MSET) announced a licensing agreement allowing Cybin (CYBN) to acquire intellectual property rights for a subset of Mindset’s preclinical compounds.
Under the terms of the agreement, Mindset will license intellectual property related to preclinical compounds within its “Family 1” portfolio to Cybin, excluding MSP-1014, Mindset’s lead psychedelic drug candidate.
James Lanthier, CEO of Mindset Pharma, commented on the news.
“Over the last two years, Cybin has assembled a leading psychedelic drug development organization. We are pleased that our novel preclinical compounds have been recognized to potentially support their R&D pipeline. Both our companies share the same ultimate goal of discovering and developing superior new psychedelic treatments to better meet the needs of patients. This licensing agreement – Mindset’s second such agreement to advance its innovations to clinical study – is another example of Mindset successfully executing on its scientific and business strategies. Coupled with our existing collaboration, Mindset now has multiple “shots on goal” for commercializing its innovations, with additional potential from its recently announced new families.”
The agreement includes an initial payment of US $500,000 to Mindset, along with clinical development milestone payments, which could total up to US$9,500,000 upon successful completion of agreed milestones, including the approval and commercialization of the first drug candidate. The agreement also includes a sales royalty of approximately 2 per cent for all commercialized licensed products within the scope of the exclusive agreement.
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$0.35.