Mindset PharmaCSE: MSET
Canadian drug discovery company focused on next-generation psilocybin and DMT analogues, acquired by Otsuka Pharmaceutical in October 2023 for approximately C$80 million. Lead compound MSP-1014, a novel psilocin prodrug, received MHRA approval for a Phase 2 clinical trial in the UK for major depressive disorder.
Development Programmes
2MSP-1014
PsilocybinMajor depressive disorder
Programme Tracker
Major Depressive Disorder (MDD)
MHRA-approved Phase 2 trial (NCT05624268) for MDD with ACT psychotherapy; may be deprioritized in favor of MSP-2020
Milestones
Licensing deal
CompletedActual: Sep 1, 2023
Otsuka Pharmaceutical announces acquisition of Mindset Pharma for CAD ~$80M ($0.75/share, ~50% premium)
Why it matters: One of the first Big Pharma acquisitions in the psychedelic therapeutics space. Otsuka (parent of Lundbeck partner and antipsychotics leader) gaining a psilocin prodrug and next-gen tryptamine platform signals serious pharmaceutical industry commitment to psychedelic medicine.
Company milestone
CompletedActual: Jan 1, 2024
Otsuka formally completes acquisition of Mindset Pharma; company fully absorbed
Why it matters: Mindset Pharma ceases to exist as an independent entity. All IP, including MSP-1014, MSP-2020, MSP-2003, and DMT-inspired compounds, now owned by Otsuka.
Recorded Events
Jan 1, 2024: Company milestone
Sep 1, 2023: Licensing deal
MSP-2020
Major depressive disorder
Programme Tracker
Major Depressive Disorder (MDD)
Phase 1 clinical development under Otsuka; described as having greater potency than LSD with shorter psychedelic effect than psilocybin
Milestones
phase-1-initiated
In progressMSP-2020 listed as Phase 1 on Otsuka pipeline (January 2026)
Why it matters: Now the lead Mindset-sourced asset on Otsuka's pipeline, superseding MSP-1014. Otsuka's March 2026 acquisition of Transcend Therapeutics ($1.225B, TSND-201 MDMA analog for PTSD) shows massive commitment to neuroplastogens — MSP-2020 fits into this expanding portfolio.
Watch next: Phase 1 safety/PK data readout; dose selection for Phase 2
Company milestone
CompletedActual: Oct 1, 2022
MSP-2020 selected as lead clinical candidate by Mindset Pharma (pre-acquisition)
Why it matters: MSP-2020 is a next-generation tryptamine/pyrrolidinylmethylindole with optimized pharmacology: greater potency than LSD combined with a shorter psychedelic duration than psilocybin. This profile could enable more practical clinical sessions.
Recorded Events
Oct 1, 2022: Company milestone
Quick Facts
- Type
- Public Biotech
- Ticker
- CSE: MSET
- Lead Stage
- Phase II
- Acquired by
- Otsuka Pharmaceutical
- Website
- Visit