Clearmind Medicine Inc. (Nasdaq, CSE: CMND | FSE: CWY), a biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, has announced the first agreement to conduct its first- in-human clinical trial using its MEAI-based CMND-100 compound aimed at treating alcohol use disorder (“AUD”).
The agreement was signed with the Phase I/II unit at the IMCA center in Ramat Gan, Israel. The trial will be led by Prof. Mark Weiser, head of the Psychiatric Division at the Sheba Medical Center, whose specializations include cognitive impairment in persons with psychiatric disorders such as substance abuse, depression and personality disorders.
“We are thrilled to have the first clinical center join our clinical trial and pleased that our innovative approach to treating AUD is well-received by the medical community. It is our intention to sign a similar agreement with a clinical center in the United States. We’re committed to working with leading researchers and medical professionals to bring new and effective treatments to patients suffering the physical, mental and social repercussions of psychiatric disorders.”
Dr. Adi Zuloff-Shani, Clearmind’s CEO
Prof. Mark Weiser stated, “AUD is very damaging to the individual and her/his family. Because it is so common, it has major implications for public health. CMND-100 has great potential to alleviate this debilitating disorder, and improve the quality of life of millions of persons all over the world. This clinical study is a crucial step foreword in developing CMND-100, and I am happy to be part of it.”
Almost 28 million people over 18 years of age struggled with alcohol use in the U.S. alone in 2020, according to the National Survey On Drug Use And Health. The condition is most severe among the young: in the 18-25 age group, 15.6 percent (or 5.2 million people) had AUD compared to 10.3 percent (or 22.4 million people) among those over 25.
According to DelveInsight, the Alcohol Use Disorder treatment market size in the U.S., Italy, Spain, UK, Germany, France and Japan was $564 million in 2021, which is further expected to increase by 8.8% until 2032. A recent Organization for Economic Co-operation and Development (“OECD”) study showed that OECD countries lose about $595 billion PPP (Purchasing Power Parity) per year, resulting from high alcohol consumption (over 12 grams of alcohol a day for women and 18 grams a day for men). The economic loss results from missing labor days, related diseases, and other derivatives of excessive alcohol use.
About Clearmind Medicine Inc
Clearmind is a 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 seven patent families. 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.