Dr. Adi Zuloff-Shani reports

CLEARMIND MEDICINE RECEIVES APPROVAL TO COMMENCE ITS PHASE I/IIA CLINICAL TRIAL OF CMND-100 FOR ALCOHOL USE DISORDER

Clearmind Medicine Inc. has received approval from the Ministry of Health of Israel to commence its phase 1/2a clinical trial for alcohol use disorder (AUD) patients using the company's proprietary MEAI-based (5-methoxy-2-aminoindane) CMND-100 oral capsule.

"We are thrilled to receive approval to commence our phase 1/2a clinical trial for our lead drug candidate, CMND-100, which has been shown to be safe and effective in preclinical studies. This is the most important milestone for the company to date and marks our transition to a clinical-stage pharmaceutical company. The Clearmind team has been working tirelessly on the research and development of a novel treatment to the global epidemic of alcoholism. We are eager to continue our work with patients in need of help," said Dr. Adi Zuloff-Shani, chief executive officer of Clearmind Medicine. "Our non-hallucinogenic, psychedelic solution could be the answer to the tremendous global need for groundbreaking, dedicated and effective treatments for addictions."

The clinical trial is a multinational, multicentre, single and multiple dose tolerability, safety and pharmacokinetic study of CMND-100 in healthy volunteers and AUD subjects. The Israeli study will be led by Professor Mark Weiser, MD, head of the psychiatric division at the Sheba Medical Center in the Tel Aviv suburb of Ramat Gan.

The company intends to have two additional sites in the United States for the phase 1/2a clinical trial, at the Yale School of Medicine's Department of Psychiatry and the Johns Hopkins University School of Medicine.

The primary end point of the clinical trial is to find the tolerable dose, and characterize the safety and pharmacokinetics/pharmacodynamics of single and repeated doses of CMND-100 in healthy subjects, and those with AUD. The secondary end point is to evaluate preliminary efficacy of CMND-100 in reduction of drinking patterns and cravings in individuals with moderate-to-severe AUD. Oral capsules will be administered and subjects treated by these oral capsules will report their drinking patterns and cravings for alcohol during the clinical trial.

The active ingredient in CMND-100 is MEAI, an innovative, psychoactive and non-hallucinogenic molecule that has been reported to reduce the desire to consume alcoholic beverages, while exerting a slight euphoric alcohol-like experience. MEAI was found to interact with the serotonergic receptors 5-HT1a and 5-HT2a. The serotonergic system is considered to play a key role in the regulation of alcohol intake, reward, preference and dependence. MEAI was also found to interact with the alpha-2-adrenergic receptors alpha2A, alpha2B and alpha2C, as well as the plasma membrane monoamine transporters for dopamine (DAT), norepinephrine (NET) and serotonin (SERT). These receptors and transporters are believed to participate in mediating alcohol drinking behaviour and could constitute important molecular targets for interventions that target drugs subject to abuse, such as alcohol.

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.

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