Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF, FRA:9DF) has announced the filing of an international patent application for its novel psilocybin synthesis process.
The psychedelic drug company is pioneering a unique process to synthesize psilocybin and psilocin in a faster and more effective manner.
Mindset believes that its process has advantages over other methods of synthesizing the compounds found in psychedelic mushrooms, including lower cost, milder reaction conditions, more convenient operations, easily obtained commercially available raw materials, suitability for multi-kilogram scale manufacturing, and less environmental impact.
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“We believe that our proprietary synthesis process is likely the most cost-effective method available in the marketplace today for cGMP grade psilocybin,” Mindset CEO James Lanthier said in a statement.
“The process strategically complements our next-generation drug development programs and represents a significant potential market opportunity with near-term revenue potential. We anticipate that there will be significant demand for our cGMP psilocybin supply given the increasing number of trials and studies underway utilizing psilocybin.”
The application claims the priority date of Mindset’s previously filed provisional application in the US of July 24, 2020.
“Since filing our provisional patent application in July of 2020, we have made substantial progress towards demonstrating the commercial viability of our synthesis process,” Malik Slassi, Mindset’s vice president of innovation added.
Mindset recently engaged a leading international contract development and manufacturing organization to complete optimization and scale-up of the process.
Slassi noted that the company is now initiating a 100-gram pilot-scale synthesis to be followed by a one-kilogram batch of cGMP psilocybin using Mindset's Synthesis Process, which is expected to be completed by the end of 2021.
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