Developer · Canada
Mindset Pharma Inc.
A drug discovery and development company focused on creating novel, patentable next-generation psychedelic compounds for the treatment of neurological and psychiatric disorders. Acquired by Otsuka Pharmaceutical Co., Ltd. in October 2023 and now operates as an Otsuka company.
1compound
1program
1indication
Phase 2lead asset
Pipeline (1)
- Major depressive disorderPhase 2Unknown
Deals & partnerships
- Oct 27, 2023AcquisitionOtsuka acquires Mindset PharmaOtsuka Pharmaceutical Co., Ltd., through its wholly-owned subsidiary Otsuka America, Inc., acquired all of the issued and outstanding common shares of Mindset Pharma Inc. via a statutory plan of arrangement for CA$0.75 per share in an all-cash transaction (approximately CA$80 million). The arrangement agreement was dated August 31, 2023; shareholders approved it on October 19, 2023, and the Supreme Court of British Columbia approved it on October 25, 2023. The deal closed and common shares were delisted (CSE: MSET, OTCQB: MSSTF, FSE: 9DF) on October 27, 2023.
Recent activity
- Oct 31, 2024Phase changeMSP-1014·Major depressive disorderPhase 2The planned study window for ISRCTN31103960 (January 2023 - October 2024; recruitment to July 2024) elapsed with no public topline results or program status update from Otsuka/Mindset. Program status set to unknown pending disclosure; no evidence of either continuation into a next phase or formal discontinuation has been published.source ↗
- Aug 8, 2023Phase changeMSP-1014·Major depressive disorderPhase 2Otsuka Pharmaceutical Co., Ltd. (via Otsuka America, Inc.) agreed to acquire Mindset Pharma in an all-cash plan-of-arrangement valued at ~CAD$80M (~US$59.2M), with MSP-1014 as the lead asset; transaction expected to close on/about 19 Oct 2023 subject to Supreme Court of British Columbia approval. The MSP-1014 MDD program transferred to Otsuka upon closing.source ↗
- Jun 22, 2023Phase changeMSP-1014·Major depressive disorderPhase 2Mindset Pharma announced MHRA and Research Ethics Committee approval to initiate a Phase II study of MSP-1014 for major depressive disorder in the UK (two-part adaptive design: Part 1 dose escalation with ACT; Part 2 randomized placebo-controlled), expected to commence as early as Q4 2023. (Registry: ISRCTN31103960; REC 23/EE/0032.)source ↗
- Nov 14, 2022Phase changeMSP-1014·Major depressive disorderPreclinicalMindset Pharma presented a poster at Neuroscience 2022 highlighting preclinical data on MSP-1014, its psilocin-prodrug lead candidate: head-twitch response (a 5-HT2A target-engagement correlate) was higher after subcutaneous MSP-1014 than psilocybin at the same dose, while MSP-1014 did not reduce locomotor activity or core body temperature at 3 and 10 mg/kg (psilocybin did), and it is rapidly/completely metabolized to psilocin. Findings suggested tolerability may be superior to psilocybin.source ↗
Competitive landscape
Other companies developing against Mindset Pharma Inc.'s targets or indications.
- Beckley Psytech Limited1 compound5-HT2AMajor depressive disorder
- COMPASS Pathways plc1 compound5-HT2AMajor depressive disorder
- Definium Therapeutics, Inc.1 compound5-HT2AMajor depressive disorder
- Delix Therapeutics, Inc.1 compound5-HT2AMajor depressive disorder
- Gilgamesh Pharmaceuticals, Inc.2 compounds5-HT2AMajor depressive disorder
- Helus Pharma2 compounds5-HT2AMajor depressive disorder
- Intra-Cellular Therapies, Inc.2 compounds5-HT2AMajor depressive disorder
- Vanda Pharmaceuticals Inc.2 compounds5-HT2AMajor depressive disorder
- ACADIA Pharmaceuticals Inc.1 compound5-HT2A
- Alto Neuroscience, Inc.2 compoundsMajor depressive disorder
- Atai Beckley N.V. (AtaiBeckley)1 compound5-HT2A
- Autobahn Therapeutics, Inc.1 compoundMajor depressive disorder