Mindset Pharma Announces Development of Novel, Optimized, Intranasal Formulation

Leverages Mindset’s Platform Technology for Efficient Delivery of CNS Therapeutics

TORONTO, June 29, 2022 (GLOBE NEWSWIRE) — Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company”), a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic-inspired medicines to treat neurological and psychiatric disorders with unmet medical needs, today announced that the Company has developed a novel, patent-pending, intranasal platform formulation technology expected to deliver improved central nervous system (CNS) penetration of first and subsequent generations of psychedelic medicines.

Mindset’s novel intranasal formulation technology leverages its unique platform technology, a common feature of several of Mindset’s leading psychedelic drug candidates, altering the pharmacokinetics profile of the active pharmaceutical ingredient. The proof of concept (PoC) of this novel formulation demonstrates improved CNS penetration compared to standard formulations of 5-MeO-DMT. Data also demonstrates increased CSF exposure relative to plasma in comparison to a standard formulation by a factor of approximately 3. With this unique formulation technology, there is potential for reducing dose level, speeding uptake and out-take from the brain, and reducing peripheral side-effects, thereby enabling a more efficient, safer, and more cost-effective treatment.

“The intranasal formulation technology further enhances Mindset’s portfolio of complementary scientific assets. Now, the Company has a leading portfolio of next generation NCEs, patent pending processes to synthesize first generation compounds efficiently and cost-effectively, and a novel intranasal delivery system to improve the overall pharmacokinetic properties of first- and second-generation psychedelic drug candidates,” commented James Lanthier, CEO of Mindset Pharma. “We are very excited by the initial data of our intranasal technology using 5-MeO-DMT and look forward to broadening our validation data as we anticipate this technological advancement to be interchangeable with other known and novel psychedelic and CNS therapeutics. The development of this formulation technology is yet another excellent example of Mindset’s innovation engine and its relentless and ongoing focus on scientific rigor to assist patients suffering from CNS disorders with unmet medical needs.”

The Company has filed a PCT application on May 26, 2022, with a priority date of May 26, 2021.

To watch a video of Mindset’s CEO and CSO discussing the announcement in greater detail, please visit: https://youtu.be/jNXAsIrE14s.

About Mindset Pharma Inc.
Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next-generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next-generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin in addition to its own proprietary compounds. The company has a co-development agreement with the McQuade Center for Strategic Research and Development, a member of the Otsuka Pharmaceuticals family of companies, for its short-duration compounds, Mindset Families 2 & 4.

For further information on Mindset, please visit our website at www.mindsetpharma.com.

For more information, please contact:

Investor Contact:
Allison Soss
KCSA Strategic Communications
Email: MindSet@kcsa.com
Phone: 212-896-1267
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Media Contact:
McKenna Miller
KCSA Strategic Communications
Email: MindSet@kcsa.com
Phone: 949-606-6585

Company Contact:
James Lanthier, CEO
Email: jlanthier@mindsetpharma.com

Jason Atkinson, VP, Corporate Development
Email: jatkinson@mindsetpharma.com
Phone: 416-479-4094

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