Bright Minds Biosciences Inc (DRUG)

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Bright Minds Gets International Go-Ahead

Meanwhile, Bright Minds Biosciences Inc. (NASDAQ:DRUG) had its patent application covering phenethylamine (aka PEA)-class compounds reviewed and approved by the International Searching Authority. This indicates the company’s lead compounds as novel and inventive in a non-binding “written opinion” letter.

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These compounds targeting the 5-HT2A and 5-HT2A/5-HT2C receptors are potentially best-in-class, with an optimized short half-life, high potency, and extreme selectivity, the company claims. 

One of the compounds is BMB-202 — the company’s lead 5-HT2A agonist. It has shown a superior potency compared to psilocin in vitro. Moreover, while it has not shown significant activity at other 5-HT receptors, it is fast-acting, holds a short duration (around two hours), and has demonstrated antidepressant properties in vivo.