Investors should take note of promising company Clearmind Medicine Inc. (CSE:CMND)
SmallCapPower | October 13, 2021: Like cannabis before it, psychedelics seem poised to generate significant investor interest, as these drugs are being viewed as an alternative treatment for a variety of ailments. In fact, the market for psychedelics is expected to grow at a compound annual growth rate (CAGR) of 16.3%, reaching US$6.8 billion by 2027, according to Data Bridge Market Research.
Much progress is being made in studying the benefits of different psychedelics. For example, the drug psilocybin is in Phase 2b clinical trials, while MDMA is in Phase 3, and the U.S. Food & Drug Administration (FDA) has given both those trials breakthrough therapy status. This is not new, though, as non-for-profit groups and academic researchers over the last 30 years have helped prove that these drugs have potential benefits while being safe and non-addictive.
Recent research has also focused on using psychedelics for the treatment of Parkinson’s disease, Alzheimer’s and other forms of dementia.
Thus, there is notable momentum behind winning approval for psychedelic drugs due to factors such as the opioid crisis and the negative effect of COVID-19 on mental health.
And while there are larger businesses already making progress in the psychedelics space, investors should take note of a promising, smaller company Clearmind Medicine Inc. (CSE:CMND), which is focused on the discovery and development of novel psychedelic derived therapeutics to solve widespread and under-served health problems including alcohol use disorder. Its primary objective is to research and develop compounds derived from psychedelics and attempt to commercialize them as regulated medicines, foods or supplements.
The company’s intellectual portfolio currently consists of two patent families, one for binge behaviour regulators and the other for an alcoholic beverage substitute. Within these two families the company has two U.S. patents, one European patent, and allowed applications in China and India and pending divisional applications in Europe and the U.S. related to binge behavior regulators. Clearmind also has a European patent and pending applications in the U.S. China and India related to the alcohol beverage substitute family.
With a clear focus on alcohol abuse and binge drinking, Clearmind’s first drug candidate addresses very common (and costly) afflictions which to date, have limited solutions. And with traditional therapies lacking, Clearmind’s psychedelic-based solutions are set to revolutionise this space.
According to the World Health Organization, alcohol consumption contributes to three million deaths each year globally, in addition to disabilities and poor health of millions of people.
Clearmind Medicine’s psychedelic derived medicine revolves around 5-Methoxy-2-aminoindane (MEAI), a non-hallucinogenic psychoactive molecule, exerting a euphoric alcohol-like experience and a reduced desire to consume alcoholic beverages. MEAI shows a high safety profile in pre-clinical studies and a promising efficacy, with potential to change the lives of millions who struggle with alcohol.
MEAI holds the promise to break the binge-drinking vicious cycle by potentially innervating neural pathways such as 5-HT1A, which leads to what the Company calls “sensible behaviour”.
Clearmind contends that the literature shows that 5-HT1A receptors are associated with controlling craving behaviour across the board. This indicates that MEAI may have a wider range of applications beyond binge drinking.
That being said, Clearmind will be hosting Psychedelics For Alcoholism, a free, live virtual event highlighting new potential treatments for alcohol use disorder and binge drinking.
The online educational event will be held October 20, 2021, starting at 12 p.m. EST/9 a.m. PST; registration is open and free to all. It will include brief presentations by featured speakers, followed by a discussion with a question-and-answer session.
Clearmind has curated a panel of scientists, thought leaders, therapists, and pundits to share their experiences and educate participants on the mounting evidence suggesting the effectiveness of psychedelics, and specifically MEAI, in the regulation of excessive drinking.
Representatives from the company will also provide an update on Clearmind’s MEAI-based medicines and their potential for the treatment of Alcohol Use Disorder and binge drinking. Registration for the event can be found here.
For more information on Clearmind Medicine, please visit the company’s website here >>
Ubika Research/SmallCapPower has received compensation from Clearmind Medicine to provide editorial coverage. For full disclosure please visit here >>
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