Clearmind Medicine Inc. (Nasdaq: CMND | 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 the appointment of seasoned regulatory executive Nicholas Kadysh as special advisor for the development of MEAI as an alcohol substitute.

Kadysh, a former executive at Red Bull Canada and Juul Labs Canada, is a career expert on navigating complex regulatory challenges in the health and food industry. He is the founder of PharmAla Biotech, which manufactures MDMA- and MDXX-class molecules for pharmaceutical research, and the Board Chair of Psychedelics Canada, the trade association for the for-profit, legal Canadian psychedelics industry.

“Nick brings invaluable knowledge of corporate affairs and regulations. We are thrilled to have him join the company and contribute from his vast experience to our alcohol substitute program.”

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

In parallel to developing its innovative novel psychedelic-derived drug candidate MEAI for treating addictions, Clearmind is also building a parallel track in which MEAI is deployed as an alcohol substitute. The company is currently preforming the safety studies for this.

According to NielsenIQ, a global information services company, non-alcoholic beverage sales are growing quickly. Between August 2021 and August 2022, total dollar sales of non-alcoholic drinks in the US stood at $395 million — a year-on-year growth of approximately 21%.

About Clearmind Medicine Inc

Clearmind Medicine is a biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems. The company’s flagship patented molecule MEAI is being researched as a potential solution for alcohol addiction and has already demonstrated early evidence of curbing binge behaviors that can lead to alcohol and drug abuse. The Company’s intellectual portfolio currently consists of seven patent families. The company’s primary objective is to research and develop psychedelic-based compounds and commercialize them as regulated medicine, foods or supplements.