Clearmind Medicine Inc. (Nasdaq, CSE: CMND | FSE: CWY), a biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major undertreated health problems, today announced positive pre-clinical results demonstrating efficacy of its drug candidate MEAI for treating obesity and metabolic syndrome.

The study, conducted at the Hebrew University of Jerusalem, as part of a collaboration established with the university’s technology transfer company, Yissum, included multi-parameter metabolic assessments such as body weight, fat mass, glucose tolerance, insulin sensitivity, liver enzymes and fat accumulation as well as food consumption patterns. It included three groups of rodents: one was fed a standard diet, another a high-fat diet, and the third a high-fat diet group along with treatment with MEAI.

The animals treated with MEAI showed increased energy expenditure, better fat utilization and weight loss of 20%, while reducing their overall fat mass and preserving their lean body mass. No effect on motivation and well-being was observed. Additionally, MEAI treatment yielded normalization of insulin levels, improved glucose tolerance as well as reduced fat and triglycerides accumulation in the liver. These results were significantly better than those obtained in the high fat, untreated group.

Furthermore, a significant reduction in sucrose preference was observed following administration of MEAI for two days at the effective dose, supporting the notion that it can dampen the hedonic value of rewarding stimuli. Thus, MEAI may be beneficial for the treatment of compulsive reward-seeking behavior or excessive consumption of sweet foods.

“We’re very excited about these results, which suggest that MEAI may be effective in treating obesity, one of the world’s most pressing problems. These additional positive results in our treatment of addictions, once again indicate MEAI’s potential to become a viable treatment for a variety of disorders.”

Dr. Adi Zuloff-Shani, Clearmind’s Chief Executive Officer

Dr. Adi Zuloff-Shani also noted that the global market for obesity drugs was valued by third-party sources in 2021 at $1.9 billion.

The study was led by Prof. Joseph Tam, D.M.D., Ph.D., head of the Obesity and Metabolism Laboratory and Associate Professor of Pharmacology at the Hebrew University’s Institute for Drug Research and Dr. Saja Baraghithy, Ph.D.

“While there is some evidence suggesting that psychedelic drugs, such as LSD and psilocybin, may be effective in treating obesity and other eating disorders, no solid experimental proof really exists, until now. We show for the first time that MEAI’s obesity effect works by altering various metabolic processes in the body, such as energy expenditure, fat storage and glucose utilization to promote weight loss,” said Prof. Tam. “These findings suggest that MEAI may be beneficial for reducing the risk of obesity-related complications, such as type 2 diabetes and fatty liver diseases.”

According to the World Health Organization, 1 billion people, accounting for more than 30% of the global population, are overweight. About 5% of deaths worldwide are the result of obesity. If current trends continue, half of the global adult population will be overweight over the next decade. Obesity costs the global economy $2 trillion and accounts for up to 7% of healthcare expenditures in industrialized countries (up to 20% if treatment of related illnesses is factored in).

Recent research by Morgan Stanley indicates that obesity treatment could quickly become a top-12 global therapy, growing from a $2.4 billion category in 2022 to $54 billion by 2030. Morgan Stanley forecasted Novo Nordisk and Lilly would together capture about 40% of the market by developing and launching a dozen obesity medicines currently in development. This underserved multibillion-dollar market creates significant opportunities for Clearmind to generate substantial revenues, should MEAI reach the market as an obesity treatment.

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.