Clearmind Medicine Revolutionizes the $13 Billion NonAlcoholic Beverages Market with its Psychedelic-Based Drink
Clearmind Medicine (Nasdaq: CMND) announced advancements in its MEAI-based alcohol substitute beverage program, targeting the $13 billion non-alcoholic beverages market. The company completed the last pre-clinical study needed for a novel-food application. This project, led by Nicholas Kadysh, an expert with former roles at Red Bull Canada and Juul Labs Canada, has received patents in the U.S., India, and Europe. According to IWSR, the no/low alcohol market, valued at $13 billion in 2023, is expected to grow at a CAGR of 6% through 2027. Clearmind aims to develop psychedelic-derived therapeutics for under-treated health problems, boasting a portfolio of 18 patent families and 27 granted patents.
- Advancement in MEAI-based alcohol substitute beverage program.
- Completion of the last pre-clinical study required for a novel-food application.
- Patents granted in the U.S., India, and Europe for the alcohol substitute.
- Project led by experienced executive Nicholas Kadysh.
- Market potential for no/low alcohol beverages is $13 billion as of 2023.
- Forecasted market growth of 6% CAGR from 2023 to 2027.
- Clearmind has 18 patent families and 27 granted patents.
- No specific financial data or projected revenues from the new beverage program.
- Potential regulatory hurdles for novel-food application in various jurisdictions.
- Market competition in the no/low alcohol segment could impact market share.
The global no- and low-alcohol beverage market, valued at over
From a market perspective, the company’s decision to focus on novel psychedelic compounds not only differentiates them in a crowded market but potentially taps into a niche yet rapidly growing segment. The granted patents in major markets like the U.S., India and Europe bode well for market penetration and protection against competitors. Additionally, the involvement of experienced advisors from well-known consumer brands like Red Bull and Juul may provide strategic insights and enhance market positioning.
Retail investors should note the potential for high growth in a relatively untapped niche of the beverage market, though they should also be aware of the regulatory hurdles that could impact timelines and market entry.
The progress in Clearmind Medicine Inc.'s alcohol substitute beverage program signals potentially transformative revenue streams, fitting into a market ripe for disruption. The company’s patent portfolio, comprising 27 granted patents, underscores a strong intellectual property foundation, which is a significant asset in the competitive biotech and consumer health markets.
Investors should view the initiation of the last pre-clinical study as a critical milestone towards commercialization. However, financial implications depend on successful navigation through regulatory approvals, which can be time-consuming and costly. The expertise of former executives from high-profile companies like Red Bull and Juul is reassuring, suggesting a well-thought-out market entry and growth strategy.
While the potential is significant, investors must weigh this against the inherent risks of entering a highly regulated and evolving market space.
Vancouver, Canada, June 11, 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 alcohol substitute beverage program.
The Company previously announced the initiation of the last pre-clinical study required for a novel-food application submission, in accordance with novel foods and food additives legislation and regulations accepted in many jurisdictions worldwide.
Clearmind’s alcohol substitute was granted patents in the U.S., India and Europe. This project is being led by former Red Bull Canada and Juul Labs Canada executive, Nicholas Kadysh, serving as an Executive Special Advisor to the Company.
According to a report by IWSR, the leader in global beverage alcohol data and insights, no- and low-alcohol consumption across the world’s leading 10 no/low markets, which account for approximately
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 27 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
Info@Clearmindmedicine.com
www.Clearmindmedicine.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 how its proprietary MEAI-based, ethanol free, alcohol substitute presents a significant health-focused alternative that aligns with the growing global trend towards no- and low-alcohol consumption. 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.
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