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TEL AVIV/VANCOUVER - Clearmind Medicine Inc. (NASDAQ:CMND), a micro-cap biotech company with a market capitalization of $4.55 million, announced Monday the addition of Tel Aviv Sourasky Medical Center as a new clinical site for its ongoing Phase I/IIa trial of CMND-100, an experimental drug being tested for Alcohol Use Disorder (AUD).
The Israeli medical center joins Yale School of Medicine’s Department of Psychiatry and Johns Hopkins University School of Medicine in conducting the clinical study. Dr. David Zeltser, Director of the Emergency Medicine Department, will lead the research at the Tel Aviv location.
This expansion follows the enrollment of the trial’s first patient on June 5, according to the company’s press release statement. The study aims to evaluate the safety, tolerability, and pharmacokinetic profile of CMND-100, a proprietary oral drug candidate based on MEAI (5-methoxy-2-aminoindane).
Clearmind’s CEO Dr. Adi Zuloff-Shani said the company is addressing AUD, which reportedly accounts for 2.6 million deaths annually worldwide.
The clinical-stage biotech company focuses on developing psychedelic-derived therapeutics and currently holds 31 granted patents across 19 patent families. Clearmind’s shares are listed on Nasdaq under the symbol "CMND" and on the Frankfurt Stock Exchange as "CWY0."
The trial will also examine whether CMND-100 can reduce alcohol cravings and consumption in patients with AUD, though specific metrics and endpoints were not detailed in the announcement. The company maintains a current ratio of 1.74, indicating adequate liquidity to fund its ongoing clinical trials.
In other recent news, Clearmind Medicine Inc. has initiated a Phase I/IIa clinical trial for its drug candidate CMND-100, targeting Alcohol Use Disorder. This trial, conducted at prestigious institutions such as Johns Hopkins University School of Medicine and Yale School of Medicine, aims to evaluate the drug’s safety and potential to reduce alcohol cravings. The company is also advancing its intellectual property portfolio, having filed a new international patent application for a treatment targeting eating disorders like anorexia and bulimia, in collaboration with SciSparc Ltd. This proposed therapy combines 3-Methylmethcathinone and Palmitoylethanolamide, addressing the complex neurobiological aspects of these conditions.
Furthermore, Clearmind has engaged a government and political affairs consulting firm to facilitate the integration of psychedelic-based treatments into mainstream healthcare. This move is part of the company’s strategy to ensure safe and equitable access to these novel therapies. In collaboration with Yissum Research Development Company, Clearmind has published an international patent application for new psychedelic compounds aimed at treating mental health disorders and addiction. These developments highlight Clearmind’s ongoing efforts to expand its pipeline and intellectual property holdings, currently consisting of nineteen patent families and 31 granted patents.
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