Tel Aviv, Israel / Vancouver, Canada, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq, CSE: CMND), (FSE: CWY) (“Clearmind” or the "company"), a biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, announced achievement of positive results in addiction treatment for its revolutionary treatment targeting cocaine addiction. This groundbreaking development is centered around the company's innovative psychedelic molecule, MEAI, marking a significant milestone in the battle against addiction.
The trial, led by Professor Gal Yadid and his team, from the Gonda Multidisciplinary Brain Research Center located at Bar Ilan University in Israel, was carried out following a previous experiment that showed a marked decrease in cocaine-induced craving among rats treated with MEAI.
"These results, previously announced, offer a beacon of hope, demonstrating the potential efficacy of MEAI in reducing cocaine-related conditions. Our unique psychedelic compound has shown remarkable results in pre-clinical trials for cocaine addiction," said Dr. Adi Zuloff-Shani, CEO of Clearmind Medicine. "These promising results from our MEAI-based treatment offer a potential paradigm shift in how we approach the complex challenge of cocaine addiction, an addiction for which no dedicated treatment has yet been developed."
Clearmind's innovative approach represents a transformative step forward in addressing a global crisis. With millions affected by cocaine addiction worldwide, the successful application of MEAI could revolutionize treatment protocols and offer new hope to those trapped in the cycle of addiction.
This groundbreaking research resulted in a patent application in the U.S., that is part of the company’s ongoing collaboration with SciSparc Ltd. (NASDAQ: SPRC) (“SciSparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system. The collaboration focused on combining Clearmind's MEAI, a novel proprietary psychedelic treatment for addiction, with SciSparc's CannAmide™. As part of this collaboration Clearmind filed a provisional patent application related to cocaine addiction.
As Clearmind Medicine continues to pioneer in the field of psychedelic medicine, this development underscores the company's commitment to harnessing the untapped potential of psychedelic compounds in medical treatment.
About Clearmind Medicine Inc.
Clearmind is a 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 and the Canadian Securities Exchange under the symbol "CMND" and the Frankfurt Stock Exchange under the symbol “CWY.”
For further information visit: https://www.clearmindmedicine.com or contact:
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 the potential efficacy of MEAI in reducing cocaine-related conditions, how its innovative approach represents a transformative step forward in addressing a global crisis, how the successful application of MEAI could revolutionize treatment protocols and offer new hope to those trapped in the cycle of addiction and its commitment to harnessing the untapped potential of psychedelic compounds in medical treatment. 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 filed with the SEC on February 6, 2023. 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.