Mindset Pharma Inc.
(CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF)
More Tools in the Toolbox | 04/22/2022 |
And maybe we are.
As you may recall, Mindset is a drug discovery and development company focused on creating next-generation psychedelic medicines to treat neurological and psychiatric disorders. Most of what we cover about Mindset are the Company’s advancements in drug development that assist them in their perpetual goal of helping patients have better outcomes using psychedelics.
But perhaps the larger, parallel story is that this psychedelics-as-medicine paradigms seems to be at a point that real treatments are emerging and doctors and companies are learning from these early treatments.
That’s why the recent news from psychedelic pioneers Mindset Pharma is incredibly important. In the release, Mindset announces the filing of a new provisional patent application that covers new chemical entities (NCEs) that expand the Company’s next-generation DMT and 5-MeO-DMT, or ‘Family 4’, platform, currently under development.
This new patent application exemplifies the Mindset corporate strategy to broaden the therapeutic psychedelic toolbox for patients with mental health disorders who are waiting for transformative medicines and covers novel chemical space while maintaining the functionality of traditional psychedelics
A quote from CEO James Lanthier explains the significance of the filing:
“As we get more human clinical data from first generation psychedelic drugs, we will unravel how different patients respond to different psychedelic therapies. Our expectation is that different patients will respond to different treatments and paradigms. In an effort to build a toolbox that helps the most patients, Mindset continues to build out its patent portfolio.”
And that’s the part we think is compelling, even resonant. Mindset is growing in a growth industry, developing more options as acceptance broadens and the earth moves under its proverbial feet. Remember when Washington and Colorado were rebels, bold early adopters that were the first states to legalize recreational cannabis use? Now, we’re talking about the possible end to federal prohibition as a vast amount of states allow recreational and medical use.
We may be at a similar precipice, a tipping point. Those articles from The New York Times and Harvard are from last year. Since that time Mindset has put more tools in the toolbox.
And let’s not kid ourselves. Mindset is a public company and as much as the narrative is and should be about the potentially transformative effects of psychedelic treatments, the story may someday be about a Company who has generated intellectual property with potential revenue streams that could be valuable in a fully exploited psychedelic health care market.
It wasn’t that long ago that Oregon was the first to legalize psychedelic mushrooms, a move that if similar to the seminal decriminalization of cannabis in Washington and Colorado a decade ago, could lead a very large psychedelic treatment market sooner than later.
If that happens, Mindset is already well down the road of putting tools in the toolbox.
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