Clearmind Medicine Announces Exclusive Licensing Agreement for Generation 3.0 Psychedelic Compounds for the Treatment of Mental Disorders

Tel Aviv, Israel / Vancouver, Canada, April 17, 2024 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) (“Clearmind” or the "company"), a biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, today announced an exclusive licensing agreement with Yissum Research Development Company of the Hebrew University of Jerusalem. This partnership marks a significant step in harnessing generation 3.0 psychedelic compounds, methods of their preparation, and uses thereof in the treatment of addiction and mental disorders.

Dr. Adi Zuloff-Shani, CEO of Clearmind, commented, "We are witnessing a renaissance within psychedelic medicine, including broad acknowledgment of these therapies and their potential by the medical community. While our existing IP portfolio includes molecules designed to address challenges inherent in classical psychedelics, we remain dedicated to continually enhancing our ongoing innovation. In particular, there has been a rise in demand for a new class of innovative compounds with enhanced psychedelic properties. We believe that these new generation 3.0 compounds hold enormous therapeutic potential, as well as a strong safety profile.”

“The exclusive licensing agreement with Yissum expands our IP portfolio of highly differentiated assets, strengthen our leadership position with potentially first-in-class assets, and illustrates our ongoing commitment to innovation. Our ultimate goal remains unchanged: to assist patients with unmet needs through the discovery of optimized psychedelic medications,” Dr. Adi Zuloff-Shani added.

Under the terms of the agreement, Clearmind receives exclusive worldwide rights to develop, research, manufacture, market, and commercialize products derived from a patent-pending synthesis of psychedelic compounds, enriching the company’s innovative portfolio in addiction and mental health treatments.

About Clearmind Medicine Inc.

Clearmind is a clinical- stage 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.