Clearmind doses first participant in alcohol disorder treatment trial

VANCOUVER - Clearmind Medicine Inc. (NASDAQ:CMND), a micro-cap biotech company with a market capitalization of $4.56 million, has dosed the first participant with its MEAI-based oral drug candidate CMND-100 in a Phase I/IIa clinical trial for Alcohol Use Disorder (AUD), the company announced Monday. According to InvestingPro data, the company maintains a healthy cash position relative to debt, supporting its clinical development programs.

The trial is being conducted at multiple clinical sites including Yale School of Medicine’s Department of Psychiatry, Johns Hopkins University School of Medicine, Tel Aviv Sourasky Medical Center, and Hadassah-University Medical Center in Jerusalem.

This multinational, multicenter study aims to evaluate the safety, tolerability, and pharmacokinetic profile of CMND-100, while also assessing preliminary efficacy in reducing alcohol cravings and consumption in AUD patients.

"Dosing the first participant with CMND-100 in our study marks a landmark achievement towards the development of a new solution and offering new hope for the massive, underserved community suffering from alcoholism," said Dr. Adi Zuloff-Shani, CEO of Clearmind Medicine.

The trial follows the company’s June 5 announcement of the enrollment of the first participant and will include both single- and multiple-dose components to establish safety and optimal dosing parameters.

Clearmind Medicine is a clinical-stage biotech company focused on developing psychedelic-derived therapeutics. The company’s intellectual portfolio currently includes nineteen patent families with 31 granted patents.

The information in this article is based on a company press release statement. For comprehensive financial analysis and additional insights, including more than 6 exclusive ProTips and detailed metrics, visit InvestingPro.

In other recent news, Clearmind Medicine Inc. has made notable progress in its clinical trials and collaborations. The company recently announced the addition of Hadassah-University Medical Center in Jerusalem as a new site for its ongoing Phase I/IIa trial of CMND-100, an oral drug candidate aimed at treating Alcohol Use Disorder (AUD). This trial already includes prestigious institutions such as Yale School of Medicine and Johns Hopkins University. In a related development, Clearmind has successfully enrolled its first patient in this trial, marking a significant milestone in assessing the drug’s safety and efficacy in reducing alcohol cravings.

Furthermore, Clearmind Medicine has partnered with SciSparc Ltd. to file an international patent application for a new treatment targeting eating disorders. This proposed therapy aims to address the complex neurobiological and psychological aspects of conditions like anorexia and bulimia. Additionally, Clearmind has engaged a government and political affairs consulting firm to navigate regulatory frameworks for its psychedelic-based treatments. This move underscores the company’s commitment to integrating such therapies into mainstream healthcare. These developments highlight Clearmind’s strategic efforts to advance its pipeline and expand its intellectual property portfolio, which currently includes 31 granted patents across 19 patent families.

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