Clearmind Medicine Submits US Patent Application for Metabolic Syndrome and Weight-loss Treatment

Vancouver, Canada, July 16, 2024 - Clearmind Medicine Inc. (Nasdaq: CMND), also listed on the Frankfurt Stock Exchange under the symbol CWY0, is a clinical-stage biotech company dedicated to discovering and developing innovative psychedelic-derived therapeutics aimed at addressing significant under-treated health issues. The company has announced the submission of a new patent application with the United States Patent and Trademark Office (USPTO). This development is part of an ongoing partnership with SciSparc Ltd. (Nasdaq: SPRC), a specialty pharmaceutical company focused on central nervous system disorders, and is based on innovations developed with Professor Joseph Tam from the Hebrew University’s technology transfer company, Yissum.

The latest patent application pertains to a unique composition of Clearmind's MEAI compound (5-methoxy-2-aminoindane) combined with Palmitoylethanolamide (PEA), which is the active ingredient in SciSparc's proprietary CannAmide™. This novel composition is targeted at treating metabolic syndrome and obesity.

Recent data from the National Health and Nutrition Examination Survey (NHANES) covering the years 2017 to 2020 indicates a high prevalence of obesity among adults aged 20 and over in the United States, with a reported rate of 41.9%. The global obesity treatment market was valued at $15 billion in 2022, and it is expected to grow rapidly with a compound annual growth rate (CAGR) of 10.0% from 2023 to 2032. This growth is driven by the rising prevalence of obesity and technological advancements in weight loss equipment.

In total, Clearmind has filed twelve other patent applications with the USPTO as part of its collaboration with SciSparc. These applications cover various proprietary compositions, including those combining SciSparc’s PEA with Clearmind’s MEAI compound aimed at treating conditions such as alcohol use disorder, cocaine addiction, and obesity along with its related metabolic disorders.

Clearmind Medicine Inc. is a clinical-stage psychedelic pharmaceutical biotech company that focuses on discovering and developing novel treatments derived from psychedelics to address widespread and underserved health problems. One of its main goals is to research and develop psychedelic-based compounds and commercialize them as regulated medicines, foods, or supplements.

The company's intellectual property portfolio currently comprises eighteen patent families, including 28 granted patents. Clearmind intends to seek additional patents for its compounds whenever necessary and remains open to acquiring more intellectual property to expand its portfolio.

Clearmind's shares are publicly traded on Nasdaq under the symbol CMND and on the Frankfurt Stock Exchange under the symbol CWY0.

Yissum, the technology transfer company of the Hebrew University of Jerusalem, was established in 1964. It serves as a bridge between advanced academic research and global entrepreneurs, investors, and industry. Yissum aims to benefit society by transforming groundbreaking innovations and technologies into commercial solutions that address critical global challenges. To date, Yissum has registered over 11,500 patents worldwide, licensed more than 1,140 technologies, and has spun out over 261 companies.

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