Dr. Adi Zuloff-Shani reports

CLEARMIND MEDICINE ANNOUNCES EXCLUSIVE, LONG-TERM LICENSING AGREEMENT WITH LEADING ISRAELI RESEARCH CENTER

Clearmind Medicine Inc. has signed an exclusive long-term licence agreement with BIRAD, a research and development company of Bar-Ilan University, to use the joint patent it has with BIRAD for innovative cocaine treatment.

Dr. Adi Zuloff-Shani, chief executive officer of Clearmind, commented: "As a result of our successful preclinical trials that demonstrated MEAI's effectiveness in reducing cocaine craving and addiction, we made the strategic decision to secure the long-term, exclusive rights to the technology, in order to lock up the technology and ensure maximum returns for our shareholders. Millions are affected by cocaine addiction worldwide, and the successful application of MEAI [5-methoxy-2-aminoindane] could revolutionize treatment protocols and offer new hope to those trapped in the cycle of addiction. This agreement is a further testament to our goal of providing innovative treatments for addiction using psychedelic compounds."

Clearmind previously reported positive preclinical results for the treatment of cocaine addiction using MEAI, its novel psychedelic molecule. The preclinical trial was led by Prof. Gal Yadid and his team from the Gonda Multidisciplinary Brain Research Center located at Bar-Ilan University (Ramat Gan, Israel), one of the most respected researchers and research institutions in the field of addiction. The trial was designed according to the self-administration paradigm, which is the gold-standard model for examining drug addiction and is based on operant conditioning.

Animals previously conditioned with cocaine, received either cocaine (at 15 milligrams/kilogram) or MEAI at doses of 2.5, five, 10 and 20 mg/kg. Animals treated with MEAI spent less time in the compartment associated with cocaine. The results suggested a potential role for MEAI in abolishing cocaine-induced conditioned place-preference and eliminating heightened craving, as well as establishing that the compound was not addictive. The five mg/kg dose was found to be the most effective dose and was selected for further study.

In an additional trial, animals were catheterized and trained to self-administer cocaine. After the establishment of the addiction model, animals underwent an extinction phase where no cocaine was administered and MEAI was given to the test group. Finally, a relapse phase was carried out where the addicted animals were reminded of the drug with a single administration and then the animals were returned to the self-administration habitat without receiving the drug. The assumption was that the more an animal yearns to receive the drug, the more it would press on the active pedal.

The results identified a subgroup within the study, which dramatically responded to the treatment, significantly decreasing the craving for cocaine, as compared with the non-treated control group. This subgroup, representing 60 per cent of animals, showed very high response, both within the subgroup and across the animals tested. This pattern of results aligns with a previous Clearmind study that tested the conditioned place-preference paradigm, where a similar subpopulation group was identified in the context of cocaine preference. This research also demonstrated MEAI's unique ability to treat cocaine addiction and its potential to become, if approved by regulatory agencies, the first dedicated cocaine addiction 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 15 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.

We seek Safe Harbor.