Mindset Pharma is a Toronto-based psychedelic pharmaceutical development company whose goal is to create new, patentable psychedelic compounds and manufacturing processes to treat mental illness. The company was founded in 2011. It merged with North Sur Resources in September 2020 and went public on the Canadian Stock Exchange in January 2021.
James Lanthier became Mindset’s CEO in April 2020. In a November 2020 interview on Capital 10x, Lanthier stated, “We believe by far the biggest opportunity is in designing and creating new psychedelic drugs that still retain these properties of the same classic psychedelic drugs but are optimized to work as pharmaceutical drugs. So, fewer side effects, more predictable, just better engineered to work as pharmaceutical drugs. That is the single biggest opportunity in the psychedelic market.”
An informational corporate presentation dated March 2021 stated that Mindset has three pending patents on compound families related to psilocybin and one pending patent on a compound family with a structure similar to DMT and 5-MeO-DMT.
According to the presentation, the company has also synthesized 75 compounds with promising preclinical results and according to its website “has developed a patent-pending chemical synthesis process to address a pressing need for scalable pharmaceutical grade, low-cost psilocybin.” Mindset claims that its psilocybin analogs have various benefits compared to psilocybin itself, including shorter action times, better receptor binding, and longer duration. Additionally, its psilocybin synthesis process boasts a low negative environmental impact, operational efficiency, and lower-costs than market price.
Mindset has entered an agreement with a Canadian contract development and manufacturing organization to synthesize one kilogram of high-grade psilocybin in Fall 2021. In an interview with Proactive from January 2021, Lanthier shared updates on Mindset’s research and development progress, which he described as “happening faster than even we expected.”
Next, Mindset intends to identify the most promising compounds from its patents based on initial behavioral research using rodents, then prepare these “lead compounds” for clinical trials.