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Bright Minds Biosciences (“Bright Minds,” “BMB” or the “Company”) (NASDAQ:DRUG) (CSE:DRUG), a biotechnology company focused on developing novel drugs for the targeted treatment of neuropsychiatric disorders, epilepsy, and pain, today provided a scientific update on the advancement of its novel 5-HT2A psychedelic program for the treatment of mental diseases.
“Our 5-HT2A psychedelic drug discovery program is showing clear signs of success,” stated Dr. Alan Kozikowski, Ph.D., Chief Scientific Officer and Co-founder of Bright Minds. “To date, we have synthesized hundreds of de novo, novel compounds in our discovery program and are currently optimizing a select handful of the most encouraging molecules to take into late preclinical development. We are currently on track to announce our lead molecule in this program in the first quarter of 2022.”
To select compounds with the best pharmacological profile to advance in clinical trials, Bright Minds uses intelligent drug design, advanced molecular modeling, together with scientifically rigorous evaluation in preclinical models, including 5-HT2 receptor pharmacology, rodent head twitch assays, and ADME/PK studies. This data-driven decision process de-risks Bright Minds’ proprietary compounds and maximizes the chance of success in clinical trials.
“Relative to the first-generation psychedelic drug class such as psilocybin,” Dr. Kozikowski continued, “we are looking to engineer novel compounds that possess single-digit nanomolar potency at the 2A receptor, with comparable or significant selectivity over the 2C receptor, and de minimis activity at the 2B receptor, if any. Effectively, we aim to bring a more potent and safer investigational drug forward, with a significantly shorter ‘trip time,’ and that is exactly what we have found with these compounds. Importantly, all these molecules are New Chemical Entities, or NCEs, that will enjoy 20+ years of patent protection.”
Ian McDonald, Bright Minds’ Chief Executive Officer and Co-founder, stated, “Bright Minds has, what we believe to be, the largest and most advanced psychedelic drug discovery program in history. The resultant portfolio of compounds we have generated from these research efforts has a range of distinct profiles and broad applicability across a host of known diseases, including depression and PTSD. Through our scientific approach to psychedelic medications, we are committed to developing treatments for devastating illnesses and potentially bettering the lives of hundreds of millions of patients. The need has never been more urgent, and we see a significant commercial opportunity for Bright Minds.”
Bright Minds’ novel psychedelic compounds comprise a variety of different chemical scaffolds, and not just those comparable to psilocybin. This differentiated strategy enables a tailored approach to generating diverse pharmacological profiles and empowers Bright Minds to create customized solutions to a variety of medical diseases with high unmet need.
