Mindset Pharma focuses on discovering and developing optimized, patentable next-generation psychedelic compounds for neurological and psychiatric disorders with unmet medical needs. The company is developing several novel families of psychedelic compounds and an innovative chemical synthesis process for psilocybin alongside proprietary compounds. Under a collaboration with the McQuade Center for Strategic Research and Development (MSRD), a member of the Otsuka family, Mindset will advance two families of its compounds into Phase 1a and Phase 1b clinical trials. MSRD made an upfront cash payment of $5 million USD and may provide further development funding under the agreement. Mindset granted MSRD rights including a right of first refusal on asset sales, exclusive licensing or collaboration opportunities, and a right of first negotiation for mergers, acquisitions, or asset sales. The agreement also contemplates potential single-digit percentage royalty payments to MSRD under certain circumstances if the right of first refusal is not consummated or the agreement is terminated. Mindset plans to leverage MSRD's drug-development experience to accelerate and de-risk its clinical development pathway as it prepares to launch trials.

Total raised

$5M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2022