Clearmind Medicine CEO Issues Letter to Shareholders
April 09 2024 - 8:07AM
Clearmind Medicine Inc. (Nasdaq:CMND), (FSE: CWY0) (“Clearmind” or
the “company”), a clinical-stage biotech company focused on
discovery and development of novel psychedelic-derived therapeutics
to solve major under-treated health problems, today provided the
following letter to shareholders from the Company’s CEO, Dr. Adi
Zuloff-Shani:
“In 2023, Clearmind made significant advances on its
groundbreaking journey, propelling our flagship compound, CMND-100,
through critical stages with a goal of revolutionizing the
treatment of alcohol use disorder (AUD) as well as other addictive
disorders and mental health conditions. Recently, our efforts
reached a key inflection point as the Israeli Ministry of Health
approved our Phase I/IIa clinical trial for CMND-100 for AUD.
CMND-100, a pioneering MEAI-based (5-methoxy-2-aminoindane)
formula, has exhibited encouraging results in pre-clinical studies.
Notably, it has shown the ability to disrupt the destructive cycle
of binge drinking without inducing hallucinations—a common concern
with existing treatments. This distinction is vital as it ensures
both safety and efficacy in addressing AUD. It uniquely targets the
neural pathways to reduce impulsivity and promote reasoned
behavior, positioning it as an innovative solution in the battle
against addictions.
2023 was marked by an array of significant milestones aimed at
initiating our Phase I/IIa clinical trial of CMND-100 in AUD,
including:
- Completing Type A meeting with the FDA. Forming a Data and
Safety Monitoring Board for oversight of our first-in-human
clinical trial;
- Strengthening our clinical trial readiness through key
partnerships for manufacturing and contract research organization
(CRO) support.
- Securing IRB Approval for our Phase I/IIa clinical trial in
Israel, a critical step towards our clinical endeavors.
- Announcing Johns Hopkins University and Yale School of
Medicine’s Department of Psychiatry as the first U.S. sites for our
Phase I/IIa clinical trial.
Other key developments during the year, included:
- Unveiling promising pre-clinical outcomes in obesity and
metabolic disorders, suggesting MEAI may be a potentially better
and safer option compared to other weight-loss drugs currently on
the market.
- Forging a collaboration agreement with CTS Ltd., a
pharmaceutical leader in Israel.
- Advancing our IP with patent filings in the U.S., including the
treatment of depression and dyskinesia, bringing our patent
portfolio, to 27 granted patents and 24 pending patent applications
across 15 patent families.
Looking ahead, we believe that we are poised to achieve
significant milestones that we hope to substantially enhance
shareholder value through 2024. These include the initiation of the
Phase I/IIa trial of CMND-100 for AUD, expanding our strategic
alliances, advancing our obesity research and trials, as well as
progressing our MEAI-based alcohol substitute for the consumer
market. We stand on the threshold of a new era in psychedelic-based
medical treatment, driven by innovation and a commitment to
transforming lives. The journey ahead is filled with potential, and
we eagerly anticipate sharing impactful updates with our
shareholders."
About Clearmind Medicine Inc.
Clearmind is a clinical-stage psychedelic pharmaceutical biotech
company focused on the discovery and development of novel
psychedelic-derived therapeutics to solve widespread and
underserved health problems, including alcohol use disorder. Its
primary objective is to research and develop psychedelic-based
compounds and attempt to commercialize them as regulated medicines,
foods or supplements.
The Company’s intellectual portfolio currently consists of
fifteen patent families. The Company intends to seek additional
patents for its compounds whenever warranted and will remain
opportunistic regarding the acquisition of additional intellectual
property to build its portfolio.
Shares of Clearmind are listed for trading on Nasdaq under the
symbol "CMND" and the Frankfurt Stock Exchange under the symbol
“CWY0.”
For further information
visit: https://www.clearmindmedicine.com or contact:
Investor Relations invest@clearmindmedicine.com Telephone: (604)
260-1566 US: CMND@crescendo-ir.com
General Inquiries Info@Clearmindmedicine.com
www.Clearmindmedicine.com
A copy of Clearmind’s annual report on Form 20-F, as amended,
for the year ended October 31, 2023 was filed on January 29, 2024
with the U.S. Securities and Exchange Commission
at https://www.sec.gov/ and posted on Clearmind’s
investor relations website
at https://www.clearmindmedicine.com/investors. Clearmind will
deliver a hard copy of its annual report, including its complete
audited consolidated financial statements, free of charge, to its
shareholders upon request at invest@clearmindmedicine.com.
Forward-Looking Statements:
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act and
other securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, the Company is using
forward-looking statements when it discusses its belief that it is
poised to achieve significant milestones that it hopes to
substantially enhance shareholder value through 2024, the
initiation of the Phase I/IIa trial of CMND-100 for AUD, expanding
its strategic alliances, advancing its obesity research and trials,
progressing its MEAI-based alcohol substitute for the consumer
market, its commitment to transforming lives and its anticipation
of sharing impactful updates with our shareholders. The Company
cannot assure that any patent will issue as a result of a pending
patent application or, if issued, whether it will issue in a form
that will be advantageous to the Company. Forward-looking
statements are not historical facts, and are based upon
management’s current expectations, beliefs and projections, many of
which, by their nature, are inherently uncertain. Such
expectations, beliefs and projections are expressed in good faith.
However, there can be no assurance that management’s expectations,
beliefs and projections will be achieved, and actual results may
differ materially from what is expressed in or indicated by the
forward-looking statements. Forward-looking statements are subject
to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the
forward-looking statements. For a more detailed description of the
risks and uncertainties affecting the Company, reference is made to
the Company’s reports filed from time to time with the Securities
and Exchange Commission (“SEC”), including, but not limited to, the
risks detailed in the Company’s annual report on Form 20-F for the
fiscal year ended October 31, 2023 filed with the SEC.
Forward-looking statements speak only as of the date the statements
are made. The Company assumes no obligation to update
forward-looking statements to reflect actual results, subsequent
events or circumstances, changes in assumptions or changes in other
factors affecting forward-looking information except to the extent
required by applicable securities laws. If the Company does update
one or more forward-looking statements, no inference should be
drawn that the Company will make additional updates with respect
thereto or with respect to other forward-looking statements.
References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Clearmind is not
responsible for the contents of third-party websites.
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