Clearmind Medicine and Dr Glitter Pty Ltd Sign Term Sheet for Mutual Development of Novel Psychedelic MEAI- Based Alcohol Substitute in ActivCrystal™ Format
Clearmind Medicine (NASDAQ: CMND) has signed a non-binding term sheet with Dr. Glitter Pty to develop and commercialize a novel MEAI-based alcohol substitute using ActivCrystal™ technology. The collaboration aims to create a product that replicates alcohol's sensations without health risks or hangovers.
The ActivCrystal™ technology encapsulates active ingredients in tasteless, odorless crystals made from natural ingredients that can be sprinkled on meals. Upon finalizing a definitive agreement, the product will allow users to add MEAI-based crystals to their choice of beverage or food with adjustable dosage.
This partnership represents a strategic move in Clearmind's efforts to introduce MEAI to global markets as a solution to combat alcohol misuse.
Clearmind Medicine (NASDAQ: CMND) ha firmato una bozza di accordo non vincolante con Dr. Glitter Pty per sviluppare e commercializzare un nuovo sostituto dell'alcol a base di MEAI utilizzando la tecnologia ActivCrystal™. La collaborazione mira a creare un prodotto che replica le sensazioni dell'alcol senza rischi per la salute o postumi di sbornia.
La tecnologia ActivCrystal™ incapsula ingredienti attivi in cristalli inodori e insapore realizzati con ingredienti naturali che possono essere spruzzati sui pasti. Una volta finalizzato un accordo definitivo, il prodotto consentirà agli utenti di aggiungere cristalli a base di MEAI alla loro bevanda o cibo preferito con un dosaggio regolabile.
Questa partnership rappresenta una mossa strategica negli sforzi di Clearmind per introdurre il MEAI nei mercati globali come soluzione per combattere l'abuso di alcol.
Clearmind Medicine (NASDAQ: CMND) ha firmado un acuerdo preliminar no vinculante con Dr. Glitter Pty para desarrollar y comercializar un nuevo sustituto del alcohol basado en MEAI usando la tecnología ActivCrystal™. La colaboración tiene como objetivo crear un producto que reproduzca las sensaciones del alcohol sin riesgos para la salud o resacas.
La tecnología ActivCrystal™ encapsula ingredientes activos en cristales insípidos e inodoros hechos de ingredientes naturales que se pueden espolvorear sobre las comidas. Al finalizar un acuerdo definitivo, el producto permitirá a los usuarios agregar cristales basados en MEAI a su bebida o comida elegida con una dosificación ajustable.
Esta asociación representa un movimiento estratégico en los esfuerzos de Clearmind para introducir el MEAI en los mercados globales como solución para combatir el abuso del alcohol.
Clearmind Medicine (NASDAQ: CMND)는 Dr. Glitter Pty와 비구속 조건 시트를 체결하여 ActivCrystal™ 기술을 사용한 새로운 MEAI 기반의 알코올 대체물을 개발 및 상용화하기로 했습니다. 이 협력의 목표는 건강 위험이나 숙취 없이 알코올의 감각을 재현하는 제품을 만드는 것입니다.
ActivCrystal™ 기술은 자연 성분으로 만들어진 무미, 무취의 결정체에 활성 성분을 캡슐화합니다. 최종 계약이 체결되면 사용자는 조절 가능한 용량으로 자신이 선택한 음료나 음식에 MEAI 기반의 결정을 추가할 수 있게 됩니다.
이 파트너십은 Clearmind가 전 세계 시장에 MEAI를 도입하려는 전략적 노력의 일환으로, 알코올 남용을 해결하기 위한 솔루션을 제공하는 것을 목표로 하고 있습니다.
Clearmind Medicine (NASDAQ: CMND) a signé une feuille de termes non contraignante avec Dr. Glitter Pty pour développer et commercialiser un nouvel substitut de l'alcool à base de MEAI en utilisant la technologie ActivCrystal™. La collaboration vise à créer un produit qui reproduit les sensations de l'alcool sans risques pour la santé ou maux de tête.
La technologie ActivCrystal™ encapsule des ingrédients actifs dans des cristaux inodores et insipides fabriqués à partir d'ingrédients naturels que l'on peut saupoudrer sur les plats. Une fois un accord définitif conclu, le produit permettra aux utilisateurs d'ajouter des cristaux à base de MEAI à leur boisson ou à leur nourriture choisie avec un dosage réglable.
Ce partenariat représente un mouvement stratégique dans les efforts de Clearmind pour introduire le MEAI sur les marchés mondiaux comme solution pour lutter contre l'abus d'alcool.
Clearmind Medicine (NASDAQ: CMND) hat ein unverbindliches Term Sheet mit Dr. Glitter Pty unterzeichnet, um ein neuartiges, auf MEAI basierendes Alkoholersatzmittel mit der ActivCrystal™-Technologie zu entwickeln und zu vermarkten. Die Zusammenarbeit zielt darauf ab, ein Produkt zu schaffen, das die Empfindungen von Alkohol ohne Gesundheitsrisiken oder Kater nachahmt.
Die ActivCrystal™-Technologie umschließt aktive Inhaltsstoffe in geschmacklosen, geruchlosen Kristallen, die aus natürlichen Zutaten hergestellt werden und über Speisen gestreut werden können. Nach Abschluss einer endgültigen Vereinbarung wird das Produkt es den Benutzern ermöglichen, MEAI-basierte Kristalle mit einstellbarer Dosierung zu Getränken oder Lebensmitteln ihrer Wahl hinzuzufügen.
Diese Partnerschaft stellt einen strategischen Schritt in Clearminds Bemühungen dar, MEAI als Lösung zur Bekämpfung des Alkoholmissbrauchs auf den globalen Märkten einzuführen.
- Strategic partnership to develop innovative alcohol alternative delivery system
- Product flexibility allowing customizable dosage and application
- Expansion of MEAI commercialization potential through new delivery format
- Term sheet is non-binding and subject to definitive agreement
- No timeline provided for product development or commercialization
- No financial terms or investment requirements disclosed
Insights
The non-binding term sheet between Clearmind Medicine and Dr Glitter Pty represents an interesting but still preliminary step in developing an alternative alcohol delivery system. The combination of MEAI (Clearmind's psychedelic compound) with ActivCrystal™ technology could potentially create a novel product format, but several critical factors remain uncertain. The delivery mechanism - crystals that can be sprinkled on food - is innovative, but efficacy, safety and regulatory approval pathways need to be established. Without binding terms or financial details, this announcement primarily indicates strategic intent rather than immediate material impact.
The term sheet is non-binding, subject to the execution of a definitive agreement
Vancouver, Canada, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) (“Clearmind” or the "Company"), a clinical-stage biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, today announced that it has signed a non-binding term sheet with Dr. Glitter Pty Ltd, a health technology company that has developed ActivCrystal™ technology, a world-first oral delivery format that encapsulates active ingredients in crystals that are tasteless, odorless, made from natural ingredients, and designed to be sprinkled on meals. The two companies plan to collaborate on the development and commercialization of Clearmind’s proprietary MEAI-based alcohol substitute and Dr Glitter Pty Ltd’s proprietary ActivCrystal™ technology. The term sheet outlines preliminary terms that, upon the mutual agreement of the parties, will be memorialized in a definitive agreement that sets forth a framework for advancing Clearmind and Dr Glitter Pty Ltd’s groundbreaking innovations.
Under the terms of the term sheet, upon the execution of the definitive agreement, the parties will work together to develop MEAI-based alcohol alternative aimed to naturally replicate the known sensations from drinking alcohol without the associated health risks or hangover. In ActivCrystal™ format, Clearmind’s MEAI-based alcohol alternative may be sprinkled into users’ choice of beverage or food, and dosage may be varied by users individually. This collaboration has the potential to mark an important milestone in Clearmind’s strategy to bring MEAI to global markets, addressing the urgent need for innovative solutions to combat alcohol misuse - a major contributor to countless annual deaths worldwide.
“We are thrilled to work with ActivCrystal™ technology to advance the development of MEAI as a safe alternative to alcohol,” said Dr. Adi Zuloff-Shani, CEO of Clearmind Medicine. “In parallel to advancing our clinical program with MEAI, we are actively developing our alcohol alternative product, designed to provide some of the enjoyable sensations and experiences associated with alcohol, without the alcohol itself. By offering a solution that adults can enjoy without the harmful effects of alcohol, we aim to transform the landscape of social drinking. We believe that partnering with innovative companies in this field is the right approach to drive this change forward.”
“Our mission is to empower happy, healthy living.” said Jade Diep, CEO of Dr Glitter Pty Ltd, “Our team is passionate about making alcohol-alternatives more accessible and easy to consume. The ActivCrystal™ format allows MEAI to be consumed in a variety of beverages that can be chosen by the user, and based on their individual preferences or what is being served in their social setting. We are excited to partner with Clearmind and use our company’s technology to support those who suffer from alcohol use disorder and create a new product in the non-alcoholic industry.”
About Clearmind Medicine Inc.
Clearmind is a clinical-stage psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods or supplements.
The Company’s intellectual portfolio currently consists of nineteen patent families including 29 granted patents. The Company intends to seek additional patents for its compounds whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.
Shares of Clearmind are listed for trading on Nasdaq under the symbol "CMND" and the Frankfurt Stock Exchange under the symbol “CWY0.”
For further information visit: https://www.clearmindmedicine.com or contact:
Investor Relations
invest@clearmindmedicine.com
Telephone: (604) 260-1566
US: CMND@crescendo-ir.com
General Inquiries
About Dr Glitter Pty Ltd
Dr Glitter Pty Ltd is a health technology company that has developed ActivCrystal™ technology, a world-first oral delivery format that encapsulates active ingredients in crystals that are tasteless, odourless, made from natural ingredients, and designed to be sprinkled on meals.
The Company has submitted its international patent application for the use cases, manufacturing processes, and compositions of ActivCrystals™. The product format has been commercialised under the Dr Glitter™ brand, and has extensive potential applications in dietary supplements, pet supplements, therapeutic drugs, and in geriatric and paediatric medicine. The company also intends to license its product format to brands and manufacturers globally.
For further information, please contact info@activcrystal.com
To learn more about the Dr Glitter™ brand, please visit www.drglitter.com
Forward-Looking Statements:
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the execution of definitive agreements with Dr. Glitter PTY Ltd., the potential collaboration and partnership with Dr. Glitter PTY Ltd., its strategy to bring MEAI to global markets, its aims to transform the landscape of social drinking and its belief that that partnering with innovative companies in the alcohol alternative and substitute market is the right approach to change the face of social drinking. The Company cannot assure that any patent will issue as a result of a pending patent application or, if issued, whether it will issue in a form that will be advantageous to the Company. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on Form 20-F for the fiscal year ended October 31, 2023 filed with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Clearmind is not responsible for the contents of third-party websites.
FAQ
What is the purpose of Clearmind Medicine's (CMND) partnership with Dr. Glitter?
How will the MEAI-based alcohol substitute be consumed using ActivCrystal™ technology?
What are the key features of Dr. Glitter's ActivCrystal™ technology for CMND's alcohol alternative?
Is the December 2024 partnership agreement between CMND and Dr. Glitter binding?
