Clearmind Medicine Announces Additional Positive Results

Dedicated treatment noted a significant decrease in cocaine craving in a subgroup who received Clearmind MEAI

VANCOUVER, Aug. 24, 2022 (GLOBE NEWSWIRE) — Clearmind Medicine Inc. (CSE: CMND), (OTC Pink: CMNDF), (FSE: CWY0) (“clear mind“or the”company“), a biotechnology company focused on the discovery and development of novel psychedelic-derived therapies to address major undertreated health conditions, today announced additional positive preclinical results for the treatment of cocaine addiction. using MEAI, his new psychedelic molecule.

“We are very excited about these new results which further reinforce our previous results indicating the potential of our proprietary MEAI to treat cocaine addiction,” said Dr. Adi Zuloff-Shani, President and CEO of Clearmind. “As cocaine is extremely addictive and there is currently no dedicated treatment, I believe Clearmind is leading the way in this area. The results, even at this preliminary stage, also show the commercial impact because we need new and effective therapies, and these have high commercial potential.

The preclinical trial, led by Professor Gal Yadid and his team, from the Gonda Multidisciplinary Brain Research Center located at Bar Ilan University (Ramat Gan, Israel), was designed according to the paradigm of self-administration , which is the gold standard drug test model and is based on operant conditioning.

In the present trial, animals were catheterized and trained to self-administer cocaine. After establishment of the addiction model, the rats underwent an extinction phase where no cocaine was administered and MEAI was administered to the test group. Finally, a relapse phase was performed where drug-addicted rats were recalled to the drug with a single administration, and then the animals were returned to the self-administration habitat, without receiving the drug. The hypothesis is that the more an animal aspires to receive the drug, the more it will press on the active pedal.

The results identified a subgroup within the study, unbiased and with high integrity, that significantly responded to treatment, significantly decreasing the craving for cocaine, compared to the untreated control group.

This subgroup, representing 60% of the animals, showed a very high response, within the group and overall. 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 further demonstrates MEAI’s unique ability to treat cocaine addiction and its potential to become the first dedicated treatment for cocaine addiction.

About Clearmind Medicine Inc.

Clearmind is a new biotechnology company focused on the discovery and development of safe and innovative therapies derived from psychedelics to treat alcohol use disorders and other pressing health issues.

The Israeli-Canadian company holds several patents for the non-hallucinogenic compound MEAI (5-methoxy-2-aminoindan, a new psychoactive substance). The company intends to seek additional patents for its compounds whenever warranted and will remain opportunistic in acquiring additional intellectual property to build its portfolio.

Clearmind has established a research collaboration with the Hebrew University of Jerusalem and Bar Ilan University. The partnerships aim to expand its R&D capabilities and discover new candidate treatments for other mental health conditions.

Clearmind’s shares are listed for trading on the Canadian Securities Exchange under the symbol “CMND”, on the Frankfurt Stock Exchange under the symbol “CWY0” and on the OTC pink under the symbol “CMNDF”.

For more information, please contact:

Investor Relations

[email protected]

Phone: (604) 260-1566

General Information

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www.Clearmindmedicine.com

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements and information based on current expectations. These statements should not be construed as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those implied by such statements. These representations include submitting relevant documentation in a timely manner to the satisfaction of the relevant regulatory authorities and raising sufficient funding to carry out the Company’s business strategy. There is no certainty that any of these events will occur. Although these statements are based on management’s reasonable assumptions, there can be no assurance that these assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. None of the Company’s products have received FDA approval and are not commercially available.

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