Bright Minds Biosciences (CSE: DRUG) shared today scientific updates regarding its serotonergic drug pipeline. This includes the announcement of advancing the company’s proprietary agonist BMB-101 to the investigational new drug stage enabling safety and toxicology studies for its potential treatment of Dravet syndrome.
The biotech firm is selecting BMB-101 as the lead drug candidate in its program that concerns targeting the nervous system receptor 5‐HT2C, which is one of the many binding sites for serotonin. The proprietary compound has shown efficacy in treating a rare form of epilepsy called Dravet syndrome in rodent models. Consequently, the company also shared the update that it is identifying the syndrome as the lead indication for BMB-101.
“Over the past few months, we have dramatically improved BMB’s competitive position with our therapeutic categories, as well as our broader capital markets strategy,” said Bright Minds CEO Ian McDonald.
The company relayed that enabling the toxicology studies for the 5‐HT2C compound is a precursor for conducting human trials. Phase 1 and phase 2 trials are slated for the first half and second half of 2022, respectively.
Furthermore, based on its clinical studies for BMB-101 that established efficacy results on rat models, the firm has also identified other indications that could possibly be treated by the compound including opioid use disorder and binge-eating disorder.
Our compounds are in the late preclinical stage and have demonstrated compelling data in well-accepted animal models for Dravet syndrome, a rare childhood form of epilepsy, opioid withdrawal, binge eating disorder, and Alzheimer’s disease psychosis. Looking ahead, we plan to initiate our first-in-human trial of BMB-101 early next year to investigate the possible use of this novel, patented drug to treat Dravet Syndrome.Ian McDonald, Bright Minds CEO
Down the pipeline, the company’s program for treating depression and other neuropsychiatric disorders is currently screening several potential 5‐HT2A drug candidates. On the other hand, its novel compound for receptors 5-HT2A + 5-HT2C is in early preclinical development for several chronic pain disorders or neuropathic pain syndromes.
The biotech company also relayed that it has recently established collaborative agreements with the National Institutes of Health for its preclinical screening program for chronic pain indications and the program for the treatment of epilepsy.
The firm was assigned by Eight Capital an $11.50 price target earlier this month, a decision based on the outlook of the flagship drug candidate BMB-101.
Bright Minds Biosciences last traded at $7.64 on the CSE.
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