Clearmind Medicine and Yissum File International Patent Application for Revolutionary Psychedelic Compounds for PTSD Treatment
12 September 2024 - 2:20PM
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 announced the
submission of a patent application under the International Patent
Cooperation Treaty (“PCT”). This submission is part of the
Company’s ongoing collaboration with Yissum Research Development
Company of the Hebrew University of Jerusalem (“Yissum”), pursuant
to the exclusive licensing agreement Clearmind holds with Yissum.
The patent application covers innovative compounds invented by
Professors Rami Yaka, Ahmed Masaewa, and Avi Priel of the Hebrew
University. These novel compounds are designed to treat
post-traumatic stress disorder (PTSD) and other mental health
conditions.
The global market for PTSD treatment, valued at $16.8 billion in
2023, is expected to reach $27.37 billion by 2033, according to
Future Market Insights. PTSD is a psychiatric disorder with
significant unmet medical needs and very limited existing treatment
options. Current approaches for PTSD management include patient
education, social support, psychotherapy, and psychopharmacological
interventions, all of which provide limited efficacy.
Dr. Adi Zuloff-Shani, CEO of Clearmind Medicine, commented: “Our
collaboration with Yissum continues to yield remarkable results. We
are proud of the groundbreaking innovations we are developing
together to meet the growing demand for advanced treatments for
various mental health conditions, including PTSD. This is
particularly critical for moderate to severe cases of PTSD, where
pharmacological options are limited, with only two FDA-approved
agents available and other treatments used off-label. However,
these drugs are often associated with side effects, such as nausea,
weight gain, sexual dysfunction, insomnia, and increased anxiety.
Our goal is to deliver effective and safe treatments for PTSD, such
as our next-generation psychedelic compounds, which aim to
significantly improve the quality of life for patients.”
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
nineteen patent families including 29 granted patents. 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
About Yissum
Yissum is the technology transfer company of the Hebrew
University of Jerusalem. Founded in 1964, Yissum serves as a bridge
between cutting-edge academic research and a global community of
entrepreneurs, investors, and industry. Yissum’s mission is to
benefit society by converting extraordinary innovations and
transformational technologies into commercial solutions that
address our most urgent global challenges. The company has
registered more than 11,680 patents globally, licensed over 1,160
technologies, and has spun out over 260 companies. Yissum’s
business partners span the globe. For further information please
visit www.yissum.co.il.
For further information
visit: https://www.clearmindmedicine.com or contact:
Investor Relationsinvest@clearmindmedicine.com
Telephone: (604) 260-1566US: CMND@crescendo-ir.com
General Inquiries
Info@Clearmindmedicine.com
www.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 the remarkable
innovations it is developing with Yissum that are addressing the
growing market demand for cutting-edge treatments aimed at a
variety of mental health conditions, including PTSD, and its
commitment is to bring effective and safe treatment for PTSD that
aims to significantly improve quality of life for these patients.
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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