Clearmind Medicine Granted Patent Approval in Hong Kong for its Binge Behaviors Treatment
Clearmind Medicine, focused on developing psychedelic-derived therapeutics, announced patent approval for its MEAI-based binge behavior regulator in Hong Kong. The newly granted patent enhances Clearmind's intellectual property portfolio, which now includes 28 patents across 18 patent families in key regions like the US, Europe, China, India, and Hong Kong. The company's innovative molecule, MEAI, reduces the desire to consume alcohol and provides a mild euphoria similar to alcohol. This treatment is particularly aimed at managing Alcohol Use Disorder and binge drinking, offering potential benefits to millions who struggle with alcohol moderation.
- Clearmind received a patent for its MEAI-based treatment in Hong Kong, expanding its IP portfolio to 28 patents across 18 patent families.
- The MEAI molecule has potential therapeutic benefits for Alcohol Use Disorder and binge drinking, providing a new approach for those struggling with alcohol moderation.
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Insights
Clearmind Medicine's recent patent approval in Hong Kong marks a significant step in the company's intellectual property strategy. This addition to their IP portfolio strengthens their position in the rapidly growing psychedelic therapeutics market. With 28 granted patents across 18 patent families in key jurisdictions, Clearmind is well-protected against competitors.
The MEAI molecule, the cornerstone of this patent, targets binge behaviors like Alcohol Use Disorder (AUD) and weight loss. The innovative nature of MEAI, which offers a slight euphoric experience while reducing alcohol craving, distinguishes it from traditional treatments that mainly focus on abstinence. This unique mechanism might appeal to a broader audience who struggle with moderation rather than complete cessation.
For investors, the patent approval not only validates the novelty of the MEAI-based treatment but also potentially enhances the company's market valuation by safeguarding its proprietary technology.
The approval of Clearmind's patent in Hong Kong opens up new market opportunities in Asia, a region with significant commercial potential. Considering the high prevalence of alcohol-related disorders globally, Clearmind’s innovative approach could meet an unmet need, especially in markets where conventional treatments have limited success.
From a market perspective, securing IP rights in Hong Kong suggests that Clearmind is preparing for expansion into Asian markets. This strategic move can lead to partnerships with local pharmaceutical companies or healthcare providers, further enhancing their market reach.
Furthermore, the alignment of their IP strategy with market expansion plans indicates a long-term vision, which is important for sustained growth. Investors should watch for subsequent announcements regarding clinical trials or collaborations in Asia that could further influence the company's stock performance.
The granting of a patent in Hong Kong for Clearmind's MEAI adds a critical layer of legal protection to their intellectual property. Given the competitive nature of the biotech industry, robust IP protection is paramount. This patent ensures that Clearmind can maintain exclusivity over their proprietary formulations and applications, potentially deterring competitors from entering the same space.
Moreover, the patent's broad claims covering primary amine aminoindan compounds beyond MEAI could provide a legal buffer, making it challenging for rivals to develop similar treatments without infringing on Clearmind’s rights. This comprehensive IP strategy positions Clearmind favorably in legal disputes and licensing negotiations.
Investors can take confidence in the company's legal preparedness, which not only mitigates risks but can also lead to revenue opportunities through licensing deals or strategic partnerships.
Vancouver, Canada, June 28, 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, announces advancement in its proprietary MEAI- based binge behavior regulator program through the granting of patent approval in Hong Kong by the Hong Kong Patent Office
The allowed claims are directed, among others to use a primary amine aminoindan compound to regulate binge behavior. This includes primary amine aminoindan compounds beyond 5-methoxy-2-aminoindan (MEAI), the company's innovative psychedelic molecule.
This latest patent builds upon Clearmind’s broad IP protection in the psychedelic space, which now includes 28 granted patents across 18 patent families, with patents granted in major jurisdictions such as the US, Europe, China, India, and now Hong Kong.
MEAI is a new psychoactive molecule that reduces the desire to consume alcoholic beverages and provides a slight euphoric, alcohol-like experience, with the potential to change the lives of millions who struggle to drink in moderation. Clearmind’s MEAI-based flagship treatment focuses on Alcohol Use Disorder and weight loss, which is incredibly common and ranges from mild to severe. It is characterized by a person’s inability to restrict their alcohol consumption, despite negative social, occupational, or health consequences. Clearmind’s MEAI may also be used to treat binge drinking, a potentially deadly addiction.
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 eighteen patent families including 28 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
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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. 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
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