| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Clinical-stage biopharma company Reunion Neuroscience Inc. (NASDAQ:REUN) filed a lawsuit against drug discovery business Mindset Pharma Inc. (OTCQB:MSSTF) in the District Court of New Jersey. Reunion alleges that Mindset purposefully copied its psychedelic compound RE104 -a Novel Chemical Entity (NCE)- and presented it as novel to the USPTO while applying for IP coverage.
See also: Psychedelics Companies Explore & Protect Their Findings, This Firm Is Doing That In 16 Countries
Reunion aims to enroll the original and sole inventor of its compound RE104, the company’s CSO Dr. Nathan Bryson, as an inventor on Mindset’s patent application as well as co-ownership on it, plus claims of inequitable conduct in the prosecution of the patent and breach of contract.
Mindset has replied that it “disagrees with and denies the allegations set forth from Reunion,” and that it plans to vigorously defend itself against the suit.
The USPTO granted Reunion a patent covering RE104 -then called FT104-, a 4-OH-DiPT prodrug and novel psychedelic compound, for the treatment of Postpartum Depression (PPD) and other mental health conditions in April 2022.
See also: Reunion Neuroscience Touts 'Transformative' Quarter, Reaffirms Postpartum Depression Treatment
While giving the company exclusive production and sales rights until 2041, the patent grant also made the drug’s composition public.
In the lawsuit, Reunion states that Mindset copied it and presented the composition as its own invention to the same federal entity in June 2022. The company said the issue affects its third-party funding.
Reunion is now claiming to the Court: correction of inventorship in Mindset’s patent, including the USPTO director to issue a corresponding certificate of correction; a declaration stating it co-owns Mindset’s patent and the inventions within; a statement on Mindset’s engagement in conduct that actually nullifies the patent; and financial compensation for lawyer expenditure and profit damages.
The second edition of the Benzinga Psychedelics Capital Conference is inching closer each day!
Taking place in the Fontainebleau Miami Beach Hotel in Florida on April 13, 2023, the event’s THE place to get DEALS DONE, raise money, jumpstart M&A and meet investors and key partners.
Get your tickets now before prices go up!
Photo: Benzinga edit with photo by Flametric, aiyoshi597, Gisele Yashar, Bacsica and Freedomz on Shutterstock.
