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Clearmind Medicine Announces Successful Pre-Clinical Results in MEAI Treatment for Alcohol Consumption

·3-min read
Clearmind Medicine Inc.
Clearmind Medicine Inc.

Pre-clinical trial demonstrated high safety profile in addition to a significant suppressive effect on alcohol consumption

VANCOUVER, May 19, 2022 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (CSE: CMND, OTC Pink: CMNDF, FSE: CWY0) (“Clearmind” or the “Company”, a biotech company focused on discovery and development of novel psychedelic-derived therapeutics, today announced positive safety results of its proprietary molecule, MEAI, to treat alcohol abuse.

To evaluate the efficacy and safety of its psychedelic-derived treatment, Clearmind conducted preclinical trials, training groups of mice to consume alcohol for five weeks. The groups were then given varying daily doses of the new treatment, with intermittent access to alcohol and water. After two weeks, researchers found a significant reduction in alcohol consumption in mice receiving the treatment. The control group showed no statistical significant reduction.

Today’s safety results build on these positive efficacy findings and mark a significant milestone as Clearmind expects to conduct FDA-regulated clinical trials with humans later this year.

“We are tremendously pleased with the success of our preclinical trials to date, which have now demonstrated both safety and efficacy in reducing alcohol consumption,” said Dr. Adi Zuloff-Shani, Clearmind’s Chief Executive Officer “We believe that our novel, psychedelic-based treatment has the potential to help millions around the world suffering from alcohol abuse, along with a range of other mental health challenges. We look forward to our continued progress.”

Following the behavioral paradigm and to evaluate safety, histopathological testing was conducted on selected organs (heart, lungs, liver, kidneys, brain, pancreas, spleen, and thyroid gland) of tested animals to determine possible toxicological effects of MEAI. No treatment-related histological changes were observed amongst all MEAI treatment groups compared to control naive and vehicle animals in all the examined organs.

About Clearmind Medicine

Clearmind Medicine is a new biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder, binge eating and depression.

The Israeli-Canadian company holds several patents for the non-hallucinogenic compound MEAI. 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.

Shares of Clearmind are listed for trading on the Canadian Securities Exchange under the symbol "CMND", the Frankfurt Stock Exchange under the symbol “CWYO” and on the OTC pink under the symbol "CMNDF".

For further information, please contact:
Investor Relations,
Email: invest@clearmindmedicine.com
Telephone: (604) 260-1566
General Inquiries,
Info@Clearmindmedicine.com
www.Clearmindmedicine.com

FORWARD-LOOKING STATEMENTS:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe to the satisfaction of the relevant regulators and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

Investing into early-stage companies inherently carries a high degree of risk, and investment into securities of the Company shall be considered highly speculative.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.


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