Mindset Files International Patent Application for its Novel Psilocybin Synthesis Method
Mindset Pharma Inc.(CNSX: MSET) (OTCMKTS: MSSTF), a drug discovery and development company focused on creating optimized next-generation psychedelic medicines to treat neurological and neuropsychiatric disorders with unmet medical needs, today announced that it has filed an international patent application for its novel psilocybin synthesis method. The application claims the priority date of the Company’s previously filed United States Patent and Trade Office provisional application, filed on July 24, 2020.
The patent application covers Mindset’s Synthesis Process, a ground-breaking process to synthesize psilocybin and psilocin—two of the known active compounds in psychedelic mushrooms. This process enables faster psilocin and psilocybin synthesis compared to many of the established methodologies used today and has advantages over current processes that include: lower cost, milder reaction conditions, more convenient operations, easily obtained commercially available raw materials, suitability for multi-kilogram scale manufacturing, and lower environmental impact.
Malik Slassi, Mindset’s VP of Innovation commented, “Since filing our provisional patent application in July of 2020, we have made substantial progress towards demonstrating the commercial viability of our synthesis process. Earlier this year, we engaged a leading international contract development and manufacturing organization (“CDMO”) to complete optimization and scale-up of the process. To date, significant optimization work has been completed and we are now initiating a 100g pilot scale synthesis to be followed by a 1.0 kg batch of cGMP psilocybin using Mindset’s Synthesis Process. The large-scale cGMP synthesis batch is expected to be completed by the end of 2021.”
We believe that our proprietary synthesis process is likely the most cost-effective method available in the marketplace today for cGMP grade psilocybin. The process strategically complements our next generation drug development programs and represents a significant potential market opportunity with near-term revenue potential. We anticipate that there will be significant demand for our cGMP psilocybin supply given the increasing number of trials and studies underway utilizing psilocybin.James Lanthier, CEO of Mindset
Watch Mindset’s management team discuss the significance of this announcement:
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