Ready to Tap into the US$7.6 billion Psychedelics Market – Stockhouse

The psychedelics space is well on its way to becoming dominant in terms of treating a range of medical conditions similar to the cannabis boom we’ve seen over the last decade or so, and companies in the space are vying for a top spot in the capital markets.

Psychedelics are known for changing or enhancing sensory perceptions and thought processes while also amplifying spiritual experiences. Utilizing psychedelics to treat mental health-related concerns has risen in prominence for disorders such as anxiety, depression, obsessive-compulsive disorder, and other psychiatric conditions.

As the prominence of these conditions continues to rise, so too does the psychedelics market. According to a from Data Bridge Market Research, the industry is expected to grow at a compound annual growth rate of 13.1 per cent to US$7.56 billion by 2028.

Driving this growth will be an increase in anxiety and depression and the a renaissance of utilizing psychedelic drugs to treat the afflictions as they continue to show promise of increased efficacy compared to the currently prescribed medications.

One of the challenges of commercializing psychedelic medications is that the well-known psychedelic drugs are all in the public domain and cannot be patented.

Companies like Mindset Pharma Inc. (CSE.MSET, OTCMKTS: MSSTF, Forum) are ramping up efforts to tap into this growing market by developing next generation, patent pending psychedelic drug candidates that are specifically designed to be used as medications.

The company, which is based out of Toronto, Ontario, is currently advancing its next-generation psychedelic medications and chemical synthesis processes; however, it differs from other psychedelics companies in that it has invented completely new psychedelic drug candidates that have been optimized for increased efficacy and safety and are currently awaiting patent approval,.

More specifically, the company owns three patent-pending psilocybin-inspired drug families, and a fourth inspired by DMT & 5-MeO-DMT.

Mindset Pharma recently chose its first lead drug candidate, MSP-1014, is from its Family 1 of novel psychedelic compounds. The drug is now moving into current good manufacturing practice (cGMP) compliant manufacturing and investigational new drug (IND)-enabling studies which are required to be completed before entering clinical trials.

Advancing MSP-1014

Mindset Pharma’s Family 1 psilocybin-inspired drug family is gearing up for movement into clinical trials, and selecting its lead candidate MSP-1014 is a step closer in the company’s journey in doing so.

The company said that the drug candidate has shown superior characteristics in direct comparison to psilocybin and its active metabolite psilocin. The advantages of MSP-1014 include increased safety and efficacy.

MSP-1014 has the potential to be a safer, more efficacious analog to psilocybin, with reduced potential side effects. Given its chemical profile, we anticipate that MSP-1014 will have the potential to treat mood disorders, including major depressive disorder, substance misuse disorders and end-of-life angst associated with terminal illnesses, including cancer,” James Lanthier, CEO of Mindset, said in a press release.

Lanthier said the company believes MSP-1014 has what it takes to be a first-in-class psychedelic drug candidate. He added that Mindset Pharma can now continue advancing its position in the development of life-changing innovative psychedelic therapeutics that are safer than first-generation psychedelics.

Our next-generation psychedelic compounds represent the flourishing evolution of therapeutics to effectively address neurological and neuropsychiatric disorders,” he said.

Mindset Pharma’s Family 1 compounds

Mindset’s Family 1 compounds leverage modern drug design practices to create proprietary psychedelic drugs that have the potential to be less toxic and more effective.

In previous rodent preclinical studies of MSP-1014, the drug candidate showed superior in vivo and safety profiles in mice compared to psilocybin in various doses and 5-HT2A (the serotonin receptor widely believed to be responsible for the psychedelic experience) receptor activation in rats.

According to the company, the superiority when compared to psilocybin is largely in part due to the incorporation of a conjugated amplification moiety (CAM) which enhances the 5-HT2A specific effects while reducing non-specific effects.

In addition to the lead candidate, Mindset Pharma’s Family 1 includes several other patent-pending compounds with patent-filing priority dates of February of last year. Mindset has completed a range of specialized in vitro and in vivo tests on its novel compounds to choose the best psychedelic drug candidate to be used in human trials.

Moving ahead with its other family compounds, Mindset Pharma aims to develop drug candidates from Families 2 to 4 and selecting additional lead candidates down the line.

The investment Opportunity

Investors need to keep in mind that because the psychedelics space is still young, it will naturally go through periods of fluctuation just like any other up-and-coming market.

With that in mind, however, Mindset Pharma is poised to be a game-changer in the next generation of psychedelic medicine thanks to its early dates on patent filings, strong data which indicates efficacy of its 4 drug families and, of course, a broad portfolio full of patent-pending drugs that investors should be watching for down the line.

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.

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Ready to Tap into the US$7.6 billion Psychedelics Market - Stockhouse