Israeli Psychedelics Biotech Shares Latest Advancements, Moves Forward With Addictions Treatment

Psychedelics company Clearmind Medicine Inc. CMND aims to bring its proprietary compound, CMND-100, to clinical trials while developing additional proprietary psychedelic compounds for next-generation novel drug candidates, according to CEO Adi Zuloff-Shani.

In a recent letter to shareholders, Zuloff-Shani explained that CMND-100 is a drug candidate based on 5-methoxy-2-aminoindane (MEAI) for which the company has "achieved several milestones towards obtaining FDA approval." This included an expected clinical trial for Alcohol Use Disorder (AUD) treatment after completing non-clinical studies and conducting a “constructive” pre-IND meeting in what Clearmind’s CEO stated were “extremely short timelines.”

Currently, the company is in the process of preparing the IND package for its submission to the FDA and the Israeli Ministry of Health expected in early 2023, with backing previous preclinical studies demonstrating MEAI’s highly safe profile and indications of a significant dose-dependent effect reducing alcohol consumption in animals.

Specifically, CMND-100 is assumed to work by suppressing the decision to consume more alcohol through potentially innervating neural pathways associated with the 5-HT1A receptor that lead to “sensible behavior.”

Another substantial advancement was seen in the company’s novel, patent-pending treatment for cocaine addiction with the same compound.

Clearmind is also exploring MEAI’ as a potential treatment for "additional indications, in line with our broader mandate to address addictions, binge behaviors, and other mental concerns. The first indication we examined was cocaine addiction,” Zuloff-Shani explained.

In June 2022, Clearmind announced the first positive pre-clinical outcomes for cocaine addiction treatment with MEAI, and announced additional encouraging preclinical results since then. 

The Israel-based company thinks MEAI could also treat obesity, depression and other conditions. Its IP portfolio includes seven patent families with issuances in the U.S., Europe, India and China.

As for other advancements, Clearmind recently completed U.S. IPOs, and closed a $7.5 million public offering and uplisted to Nasdaq.

Image by Michal Jarmoluk from Pixabay