Otsuka to acquire psychedelic drug discovery outfit Mindset Pharma

Ot­su­ka an­nounced plans to ac­quire Mind­set Phar­ma in a deal that po­si­tions the Japan­ese phar­ma in the psy­che­del­ic drug dis­cov­ery space.

Ot­su­ka is pay­ing CAN 80 mil­lion, or $59.1 mil­lion, in cash to buy the Cana­di­an de­vel­op­er of psy­che­del­ic med­i­cines that aim to treat neu­ro­log­i­cal and psy­chi­atric dis­or­ders. Mind­set’s pri­ma­ry as­set, MSP-1014, is a psilo­cy­bin-like con­ju­gate aim­ing to treat ma­jor de­pres­sive dis­or­der, or MDD. The UK in June ap­proved a Phase II tri­al for the drug.

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