Clearmind Medicine Inc. Receives Patent Approval in China for Psychedelic-Based Treatment of Binge Behaviors

Tel Aviv, Israel / Vancouver, Canada, Feb. 05, 2024 (GLOBE NEWSWIRE) — Clearmind Medicine Inc. (Nasdaq, CSE: CMND), (FSE: CWY) (ÔÇ£ClearmindÔÇØ or the “companyÔÇØ), a biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, announced today that it has been granted divisional patent approval by the China National Intellectual Property Administration.

The approval of the latest patent establishes both the company’s patent protection around its flagship molecule as well as its extensive IP protection in the psychedelic space. ClearmindÔÇÖs IP portfolio consists of fifteen utility patent families, and includes patents and applications having method of use and composition of matter claims which includes 24 pending patent applications and 27 granted patents in major jurisdictions such as the US, Europe, China, and India.

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“We are proud to receive once again recognition of our innovative treatment for binge behaviors. This approval is a major milestone and significantly expands our IP protection as a leader in psychedelic-derived therapeutics,ÔÇØ said ClearmindÔÇÖs Chief Executive Officer, Dr. Adi Zuloff-Shani. ÔÇ£In various pre-clinical studies, carried out during the past 2 years, MEAI has demonstrated its ability to regulate binge behaviors, addiction and other mental health disorders. We believe these strong results demonstrate the significant potential of the MEAI molecule for various indications.ÔÇØ

MEAI is a new psychoactive molecule that reduces desire to consume alcoholic beverages and exerts a slight euphoric, alcohol-like experience with potential to change the lives of millions who struggle to drink in moderation. ClearmindÔÇÖs MEAI-based flagship treatment focuses on Alcohol Use Disorder, which is incredibly common. It varies from mild to excessive and is characterized by a personÔÇÖs inability to restrict their alcohol consumption, despite negative social, occupational, or health consequences. ClearmindÔÇÖs MEAI may also be used to treat binge drinking, which can be a deadly addiction for some.

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 CompanyÔÇÖs intellectual portfolio currently consists of fifteen 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.

Shares of Clearmind are listed for trading on Nasdaq and the Canadian Securities Exchange under the symbol “CMND” and the Frankfurt Stock Exchange under the symbol ÔÇ£CWY.ÔÇØ

Forward-Looking Statements

This press release contains ÔÇ£forward-looking statementsÔÇØ within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as ÔÇ£expects,ÔÇØ ÔÇ£anticipates,ÔÇØ ÔÇ£intends,ÔÇØ ÔÇ£plans,ÔÇØ ÔÇ£believes,ÔÇØ ÔÇ£seeks,ÔÇØ ÔÇ£estimatesÔÇØ and similar expressions or variations of such words are intended to identify forward-looking statements. AI legalese decoder can be an invaluable resource in decoding and understanding the implications of forward-looking statements, especially in the context of legal and regulatory requirements.

For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the CompanyÔÇÖs reports filed from time to time with the Securities and Exchange Commission (ÔÇ£SECÔÇØ), including, but not limited to, the risks detailed in the CompanyÔÇÖs annual report on Form 20-F filed with the SEC on January 29, 2024.

If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements.