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VANCOUVER - Clearmind Medicine Inc. (NASDAQ:CMND), a clinical-stage biotech company with a market capitalization of $5.63 million, convened its first Annual Scientific Advisory Board meeting with eight experts in psychiatry, addiction research, and metabolic disorders, the company announced Thursday. According to InvestingPro data, the company maintains a FAIR financial health score of 2.02, indicating stable operational conditions.
The meeting focused on the company’s lead candidate, 5-Methoxy-2-aminoindane (MEAI), which is currently in Phase 1/2a clinical trials for Alcohol Use Disorder. According to the company statement, discussions highlighted MEAI’s pharmacological profile and safety data.
The advisory board reviewed preclinical findings suggesting MEAI’s potential applications beyond alcohol use disorder, including obesity, metabolic syndrome, and veteran mental health challenges. The board also explored development strategies and partnership opportunities.
"We are thrilled to unite such an esteemed group of experts to advance our vision," said Dr. Adi Zuloff-Shani, CEO of Clearmind Medicine, in the press release.
Clearmind’s intellectual property portfolio currently includes 31 granted patents across 19 patent families, according to the company. The firm is focused on developing psychedelic-derived therapeutics for health conditions including alcohol use disorder.
The company’s shares are listed on Nasdaq under the symbol "CMND" and on the Frankfurt Stock Exchange as "CWY0."
This article is based on a press release statement from Clearmind Medicine.
In other recent news, Clearmind Medicine Inc. has secured up to $10 million in convertible promissory notes through agreements with institutional investors. The company initially issued notes valued at $555,556 for a purchase price of $500,000, and plans to issue additional notes worth $1,944,444 following registration with the Securities and Exchange Commission. Clearmind also announced the publication of an international patent application for a combination therapy targeting metabolic syndrome and obesity, which involves a collaboration with SciSparc Ltd. Furthermore, Clearmind is advancing its Phase I/IIa clinical trial for CMND-100, an oral treatment candidate for Alcohol Use Disorder, by completing site initiation at Tel Aviv Sourasky Medical Center. This trial is already being conducted at Yale School of Medicine, Johns Hopkins University, and Hadassah-University Medical Center. The trial aims to evaluate the safety, tolerability, and pharmacokinetic profile of CMND-100, while also assessing its potential to reduce alcohol cravings and consumption. Clearmind has also received Institutional Review Board approval from Tel Aviv Sourasky Medical Center, allowing for patient enrollment at the center. The ongoing trial is part of Clearmind’s efforts to explore innovative treatments for Alcohol Use Disorder.
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