Israel-Based Clearmind Medicine Granted U.S. Patent for
Psychedelic-Based Alcohol Substitute
U.S. Patent and Trademark Office
extends protection of Clearmind's proprietary MEAI and expands its
potential market
Tel Aviv, Israel / Vancouver, Canada -- December 21, 2022 --
InvestorsHub NewsWire -- Clearmind Medicine Inc. (Nasdaq, CSE: CMND), (FSE: CWY) ("Clearmind" or the "company"),
a biotech company focused on discovery and development of novel
psychedelic-derived therapeutics to solve major under treated
health problems, announced that it has been granted a patent from
the United States Patent and Trademark Office (USPTO) for the use
of its proprietary MEAI as an alcoholic beverage substitute.
Similar patents have already been granted to Clearmind for the
MEAI-based alcohol substitute in Europe and India.
The development–U.S. Patent No. 11,077,072 B2 – is a
major milestone, given the increasing popularity and growth in
sales of non-alcoholic wine, beer and spirits. According to the
information services firm NielsenIQ, the market for such
non-alcoholic beverages in the U.S. in August 2022 stood at $395
million per year, showing a year-on-year growth of +20.6%.
"This patent is excellent news as we continue to strengthen and
extend the protection around our innovative compounds, reflecting
the growing U.S. recognition of our innovative portfolio," said Dr.
Adi Zuloff-Shani, Clearmind's CEO. "It's a tremendous boost,
as the U.S. is one of the biggest markets for alcohol
substitutes."
"This positive momentum confirms the value of the innovative
R&D approach that underpins our business strategy. It
strengthens our prospects for a new large market, different from
the pharma market and with short-term potential for considerable
revenue generation." Zuloff-Shani added.
The patent follows the appointment of former Red Bull Canada
executive Nicholas Kadysh as special advisor on the regulatory
development of MEAI as an alcohol substitute. Kadysh, who also
previously worked at Juul Labs Canada, is a career expert on
navigating complex regulatory risks in the health and food
industry. He is the founder of PharmAla Biotech, which manufactures
MDMA- and MDXX class molecules for pharmaceutical research, and the
Board Chair of Psychedelics Canada, the trade association of the
for-profit Canadian psychedelics industry.
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 seven
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 under the
symbol "CMND", the Canadian Securities Exchange under
the symbol "CMND" and the Frankfurt Stock Exchange under the
symbol "CWY".
For further information visit: https://www.clearmindmedicine.com or contact:
Investor Relations
invest@clearmindmedicine.com
Telephone: (604) 260-1566
General Inquiries
Info@Clearmindmedicine.com
www.Clearmindmedicine.com
FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act and
other securities laws. Words such as "expects," "anticipates,"
"intends," "plans," "believes," "seeks," "estimates" and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, the Company is using
forward-looking statements when it discusses its patent portfolio,
business strategy, and the company's prospects for a new large
market, different from the pharma market and with short-term
potential for revenue generation. Forward-looking statements are
not historical facts, and are based upon management's current
expectations, beliefs and projections, many of which, by their
nature, are inherently uncertain. Such expectations, beliefs and
projections are expressed in good faith. However, there can be no
assurance that management's expectations, beliefs and projections
will be achieved, and actual results may differ materially from
what is expressed in or indicated by the forward-looking
statements. Forward-looking statements are subject to risks and
uncertainties that could cause actual performance or results to
differ materially from those expressed in the forward-looking
statements. For a more detailed description of the risks and
uncertainties affecting the Company, reference is made to the
Company's reports filed from time to time with the Securities and
Exchange Commission ("SEC"), including, but not limited to, the
risks detailed in the Company's final prospectus (registration No.
333-265900) filed with the SEC on November 16, 2022.
Forward-looking statements speak only as of the date the statements
are made. The Company assumes no obligation to update
forward-looking statements to reflect actual results, subsequent
events or circumstances, changes in assumptions or changes in other
factors affecting forward-looking information except to the extent
required by applicable securities laws. 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.
References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Clearmind is not
responsible for the contents of third-party websites.
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