VANCOUVER - Clearmind Medicine Inc. (NASDAQ:CMND), (FSE:CWY0), a biotech company in the clinical stage, has entered into an exclusive patent licensing agreement with Yissum Research Development Company of the Hebrew University of Jerusalem. This deal grants Clearmind exclusive global rights to develop, manufacture, and commercialize innovative compounds aimed at treating post-traumatic stress disorder (PTSD) and other mental health conditions.
The agreement, announced earlier today, is a strategic move for Clearmind as it expands its portfolio of psychedelic-derived therapeutics. The compounds, invented by Professors Rami Yaka, Ahmed Masaewa, and Avi Priel at the Hebrew University, represent a potential advancement in the treatment of PTSD, a market that is projected to grow from $16.8 billion in 2023 to $27.37 billion by 2033, according to Future Market Insights.
Current treatments for PTSD, such as SSRIs and SNRIs, are often limited in efficacy and can cause side effects including nausea, weight gain, and insomnia. Clearmind's newly acquired compounds could offer alternative therapeutic options for patients suffering from PTSD and other mental health disorders.
Under the terms of the agreement, Clearmind is tasked with the ongoing development of these compounds, adhering to regulatory guidelines for potential commercialization. The deal includes provisions for future milestone payments, royalties on sales, and commitments to protect intellectual property rights.
Yissum, the technology transfer company of the Hebrew University, has a history of bridging academic research with the entrepreneurial and industrial sectors. It has registered over 11,680 patents, licensed more than 1,160 technologies, and spun out over 260 companies.
Clearmind, listed on Nasdaq and the Frankfurt Stock Exchange, focuses on developing psychedelic-based therapeutics for a range of health issues, including alcohol use disorder. With a portfolio of eighteen patent families, Clearmind is actively seeking to expand its intellectual property through additional patents and acquisitions.
The information in this article is based on a press release statement from Clearmind Medicine Inc.
In other recent news, Clearmind Medicine Inc. has made significant strides in multiple areas. The biotech company has advanced its proprietary MEAI-based alcohol substitute beverage program, completing the required pre-clinical studies for novel-food application. Led by Executive Special Advisor Nicholas Kadysh, the project aligns with the growing trend towards no- and low-alcohol consumption. Clearmind has secured patents for this alcohol substitute in the United States, India, and Europe.
In addition, Clearmind has entered into two exclusive licensing agreements with Yissum Research Development Company of the Hebrew University of Jerusalem. One pact allows Clearmind to advance and market novel compounds for treating post-traumatic stress disorder (PTSD) and other mental health issues. The other agreement grants Clearmind exclusive rights to develop and commercialize a new class of psychedelic compounds aimed at treating addiction and mental health disorders.
Finally, Clearmind has submitted a patent application to the United States Patent and Trademark Office for the use of a compound in the prevention and treatment of eating disorders.
InvestingPro Insights
As Clearmind Medicine Inc. (NASDAQ:CMND) ventures into an exclusive patent licensing agreement with Yissum Research Development Company, investors are keeping a close eye on the company's financial health and market performance. According to InvestingPro data, Clearmind's market capitalization stands at a modest 4.07 million USD, reflecting the size and stage of the company in the competitive biotech landscape.
Despite the challenges faced by many clinical-stage biotech firms, Clearmind has managed to hold more cash than debt on its balance sheet, which is an encouraging sign for investors concerned about the company's financial resilience. Additionally, the stock has experienced a significant return over the last week, with a 13.89% increase, suggesting a positive investor response to recent developments.
However, not all indicators are positive. The company is currently not profitable, with a reported operating income of -5.5 million USD and an EBITDA of -5.48 million USD for the last twelve months as of Q2 2024. Moreover, the P/E ratio stands at -0.24, further underscoring the company's lack of profitability in the recent period.
For investors looking for more in-depth analysis, there are additional InvestingPro Tips available that shed light on Clearmind's market performance and financial health. For instance, the company's stock price often moves in the opposite direction of the market, which could be an important consideration for those looking to hedge market risks. Furthermore, Clearmind's liquid assets exceed its short-term obligations, which is a reassuring sign of the company's ability to meet its immediate financial liabilities.
To explore these insights and more, interested readers can visit InvestingPro at https://www.investing.com/pro/CMND. There are 11 additional InvestingPro Tips available that could provide valuable guidance for those considering an investment in Clearmind Medicine Inc. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more comprehensive understanding of the company's investment potential.
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