*Ed note: This article has been edited since it was originally published.
One burgeoning sector that has captured the attention of investors unlike any other in recent months is psychedelics.
From PTSD to opioid addiction, its wide range of applications have opened opportunities to target specific issues that have massive audiences.
One of these issues is
alcoholism, which contributes to three million deaths each year globally, according to recent data from the World Health Organization. The third most common preventable cause of death in the US, 5.3% of adult Americans struggle with Alcohol Use Disorder.
The Center for Disease Control also noted that 37 million US adults (one in six) binge drink once a week, which directly causes half of all alcohol-related deaths, 95,000 people every year.
Both of these issues are targets identified by
Clearmind Medicine Inc. (CSE: CMND, Forum), who is literally inventing new molecules to treat diseases.
A psychedelic pharmaceutical biotech Company focused on the discovery and development of novel psychedelic-derived therapeutics, Clearmind Medicine is out 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.
With solid medical management and IP-protected treatments, the Company aims to better the lives of millions of people.
(Image viaClearmind Medicine Inc.)
The Company’s intellectual portfolio currently consists of two patent families:
- Binge Behavior Regulators is the first and has been granted patents in the US, Europe, China, and India, with pending divisional applications in Europe and the US
This patent covers multiple binge behaviors such as alcohol consumption, eating, tobacco consumption, shopping, or sexual conduct.
- Alcohol Beverage Substitute is the second and has been approved for a European patent, with pending applications in the US, China, and India
Clearmind is consistently working on expanding its patent portfolio and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.
Clearmind’s primary compound is 5-Methoxy-2-aminoindane (MEAI), a psychedelic-derived therapeutic used to treat Alcohol Use Disorder.. Alcohol Use Disorder varies from mild to excessive and describes a person’s inability to restrict their alcohol consumption, despite negative social, occupational, or health consequences.
The Psychedelic Potential:
Why choose psychedelics to enhance your portfolio? As an investor, there are many reasons to consider stocks in this market. In
a letter to shareholders released this past summer, Adi Zuloff-Shani, Ph.D., Chief Executive Officer of Clearmind explained that, as a researcher at heart, she was intrigued by the mounting evidence supporting the “Psychedelic Renaissance,” particularly for the treatment of mental health disorders, where existing therapies can be ineffective and are often associated with serious adverse side effects.
The FDA seems receptive to the possibilities; they have eased restrictions on research into psychedelic-based pharmaceuticals and they recently granted the first breakthrough therapy designation to two psilocybin-based drugs for the treatment of a major depressive disorder. Another promising indicator: several states have proposed or are currently preparing legislation permitting psilocybin use for medical purposes.
There is growing evidence showing that Psychedelics are useful to treat alcohol consumption disorders. The thinking is, as CEO Zuloff-Shani explained in an interview with Stockhouse Editorial in August, that because M exerts euphoric, alcohol-like tipsy experience and reduced desire to consume alcoholic beverages together with its favorable safety profile, MEAI could potentially be used for the treatment of patients with alcohol use disorder and binge drinking due to its assumed ability to impart a feeling of satisfaction, satiety or contentedness and regulate or even discourage binge drinking.
(Image viaClearmind Medicine Inc. Click to enlarge.)
About the Company:
When looking at the overall psychedelics market, it can be beneficial to divide the companies operating in this area into two categories:
- Companies studying known molecules and therapies that work on stage two pharmaceuticals, where effectiveness, dosage, and safety will be studied in greater depth, usually among hundreds of patients.
- Companies that work on innovative molecules or indications like Clearmind.
A popular business in this latter segment is
Mindset Pharma Inc. (CSE: MSET), whose portfolio includes methods to advance the development of molecules within the LSD space (psilocybin and DMT). Clearmind Medicine, much like Mindset, decided to go in a different direction than most in the pack and target innovative molecules.
MSET is a favourable stock among investors and one that CEO Zuloff-Shani points to as a comparable to Clearmind as a similar drug discovery and development company that is focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs.
She added that the Clearmind team decided to take step and to come up with completely innovative molecules and continues to work in innovative directions on its IP portfolio and the molecules.
(Image viaClearmind Medicine Inc. Click to enlarge.)
Meet the team:
Dr. Zuloff-Shani, PhD. Is well experienced in this field. She is a biomedical research and development executive with more than 20 years of strategic and operational
leadership in the healthcare industry, has been appointed as Chief Executive Officer. Dr. Zuloff-Shani has extensive experience successfully navigating the highly regulated process of taking therapeutics from discovery to commercialization.
In conjunction with an accelerated effort to execute the strategic shift to psychedelic drug development, Clearmind is growing its executive management team.
Oz Locker is a business entrepreneur with over a decade of managerial and operational experience. Most recently, Mr. Locker served as the CEO of a vertically integrated cannabis company. Prior, he held various executive business and operational roles in fast growing technological start-ups. Mr. Locker holds an MBA from Harvard Business School.
Speaking on these appointments, CEO Zuloff-Shani expressed that psychedelic-based medicine has the potential to revolutionize the way mental health issues are treated, and that Clearmind is positioned to become a leader in the field.
“We have assembled a management team with the expertise and passion necessary to achieve that objective, and we are all eager to get started.”
Chief Financial Officer Oded Gilboa has over 23 years of experience in finance and public accounting, having served as a senior finance executive in the technology and biotech industries with responsibilities in corporate finance, accounting, strategic planning, and operational and financial management. He holds a BA in Economics and Accounting degree from Tel-Aviv University and an MBA from Recanati Business School at Tel-Aviv University.
The Company is also bolstering its scientific advisory board with the appointment of Mark Haden. Haden has spent his career working to advance the use of psychedelics in medicine. He is currently the director of clinical research at Psygen Industries, a manufacturer of pharmaceutical-grade psychedelic drug products for clinical research.
In
a media release, CEO Zuloff-Shani commented on the appointment.
“[Mark’s] research into psychedelics and their potential to treat addiction parallels the work we are doing to develop therapies to manage AUD, and I am confident that his contribution to our efforts to secure FDA approval for MEAI will be invaluable,” CEO Zuloff-Shani said. Haden has dedicated more than 25 years to working directly with patients through the Vancouver Coastal Health Addiction Services.
“Clearmind’s innovative approach to harnessing the properties of psychedelics to create therapeutics for mental health issues has the potential to change millions of lives around the world,” Haden said about his new role.
“I have spent my career on a similar quest, and I am delighted to facilitate this effort in any way I can.”
Looking ahead:
While speaking with Stockhouse, the management team leading Clearmind Medicine made it clear that their work over the next six to 12 months will focus extensively on expanding its IP portfolio and preclinical studies with the target to enter clinical studies in the second half of 2022.
Financial picture:
In June 2021, Clearmind Medicine closed its private placement for gross proceeds of $6,225,000 (CAD). The offering consisted of 8,300,000 units priced at $0.75 per unit. Each unit consisted of one common share and one common share purchase warrant. Each purchase warrant is exercisable to acquire one additional share for a price of $1.25 until December 30th, 2022.
Net proceeds will be used primarily for the implementation of the Company’s R&D plan. All securities issued will be subject to a statutory hold period, expiring on October 31st, 2021. These funds have been added to the $1.5 million that the Company already had. Currently Clearmind has roughly $6 million (CAD) in cash on hand.
The Company is well funded to continue its work and intends to advance more funding in the fall, which is expected to increase the businesses’ wealth to $10 million (CAD).
With a market cap of $22.5 million (CAD), CMND stock has risen 300% since the completion of its “Change of Business” and commencement of trading in May 2021.
(Clearmind Medicine Inc. stock chart – May to August 2021. Click to enlarge.)
Investment summary:
The market value that this Company is pursuing is huge, there is no denying that.
Dedicated to a forward-thinking approach that embraces ground-breaking new technology and innovations and through the vision of business development, this Company intends to continue to evolve into these unchartered territories as the industry leaders of the future.
Given the possibilities of having these therapeutic platforms patented, Clearmind Medicine Inc. wants to become one of the more recognizable companies in the space of medicinal psychedelics. People are starting to pay attention. People are starting to recognize this opportunity.
To find out more about the Company in-depth, visit their website:
clearmindmedicine.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.