The present invention discloses pyridoinolobenzo[b,e]diazepine and thiazepine derivatives of Formula 1, wherein X is NR10, S, S(O), or S(O)2. Y is a single bond or no bond. A and B are independently (CH2)m and (CH2)n respectively; and the subscripts ‘m’ and ‘n’ independently vary from 1 to 4. R1 to R9 are various electron donating, electron withdrawing, hydrophilic, or lipophilic groups selected to optimize the physicochemical and biological properties of compounds of Formula I.