CMND - Clearmind Medicine Announces Exclusive Long-Term Licensing Agreement with Leading Israeli Research Center | Benzinga
The licensing agreement refers to the company's dedicated treatment for cocaine addiction which previously indicated a significant decrease in cocaine craving
Tel Aviv, Israel / Vancouver, Canada, Feb. 01, 2024 (GLOBE 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, today announced the signing of an exclusive long-term license agreement with BIRAD, a research & development company of Bar-Ilan University, to use the joint patent it has with BIRAD for innovative cocaine treatment.
Dr. Adi Zuloff-Shani, CEO of Clearmind, commented, "As a result of our successful pre-clinical trials that demonstrated MEAI's effectiveness in reducing cocaine craving and addiction, we made the strategic decision to secure the long-term, exclusive rights to the technology, in order to lock-up the technology and ensure maximum returns for our shareholders. Millions are affected by cocaine addiction worldwide, and the successful application of MEAI [5-Methoxy-2-aminoindane] could revolutionize treatment protocols and offer new hope to those trapped in the cycle of addiction. This agreement is a further testament to our goal of providing innovative treatments for addiction using psychedelic compounds."
Clearmind previously reported positive pre-clinical results for the treatment of cocaine addiction using MEAI, its novel psychedelic molecule. The pre-clinical trial was led by Professor Gal Yadid and his team from the Gonda Multidisciplinary Brain Research Center located at Bar-Ilan University (Ramat Gan, Israel), one of the most respected researchers and research institutions in the field of addiction. The trial was designed according to the self-administration paradigm, which is the gold-standard model for examining drug addiction and is based on operant conditioning.
Animals previously conditioned with cocaine, received either cocaine (at 15mg/kg) or MEAI at doses of 2.5, 5, 10 and 20 mg/kg. Animals treated with MEAI spent less time in the compartment associated with cocaine. The results suggested a potential role for MEAI in abolishing ...