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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