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MindMed and BioXcel Therapeutics Publish an International Patent Application Describing a System for Identifying Agitation Episodes

MindMed and BioXcel Therapeutics Publish an International Patent Application Describing a System for Identifying Agitation Episodes

NEW YORK, Sept. 2, 2021 /PRNewswire/ — MindMed (NASDAQ: MNMD) (NEO: MMED) (DE: MMQ) (the “Company”), a leading biotech company developing psychedelic-inspired therapies, and BioXcel Therapeutics, Inc. (“BioXcel”), a leading clinical-stage biopharmaceutical company, announce the publication of BioXcel’s International Patent Application No. PCT/US2020/051256 (published as WO2021055595) for detecting and preventing the early onset of agitation in patients predisposed to highly agitated behaviour. The disclosure provides a method for measuring the signs of an impending agitation event and alerts the caregiver to treat the subject before agitation symptoms arise.

Agitation is not an independent illness, rather it is a symptom of many acute and chronic neurological and psychiatric conditions. Agitation is characterized by excessive motor or verbal activity, irritability, uncooperativeness and, in some cases, can escalate to aggressive or even violent behavior. Agitation is a frequent driver of emergency care and can lead to physical injury to patients and caregivers. When severe or repetitive, agitation can lead to the need for facility-based care of individuals who could otherwise be cared for at home. Tracking agitation and patterns of behavior could allow earlier efforts to de-escalate, earlier dosing of medication, and reduce the need for more intensive intervention. The MindMed-BioXcel collaboration and this patent application seek to measure signs of an impending agitation event, alert caregivers, and identify optimal treatments.

Martin Majernik, MindMed’s Director of Digital Product Lifecycle, added, “This collaboration hits close to my heart because the first subject who helped us develop prototypes was my now deceased grandfather, while he was in his later stages of dementia. Watching him become increasingly confused and ultimately become aggressive was heartbreaking for our family, yet through this project, that heartbreak was sublimated into motivation for me. Fortunately, through this project, our exceptional team of clinicians and engineers is dedicated to building products that can have a tangible impact.”

Dr. Daniel R. Karlin, MindMed’s Chief Medical Officer added, “This project serves as an example of the kind of impact that can be achieved at the cross-section of digital medicine, applied machine learning, and traditional development of pharmaceutical compounds. The early detection of any clinically important symptom can bring significant value to patients across a range of conditions.”

The published patent application describes a method to collect digital measures that reliably predict emergence of agitation. The system continuously monitors physiological and behavioural correlations of sympathetic nervous system activity in patients, using an automated sensor placed or mounted on the subject’s skin surface. The described method also alerts a caregiver to an impending agitation episode in a subject. The patent application also outlines a treatment component whereby the patient with emerging agitation is provided an anti-agitation agent and guided behavioural management to prevent the worsening of an agitated episode.

About MindMed
MindMed is a clinical-stage biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including psilocybin, LSD, MDMA, DMT and an ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to MindMed’s approach to developing the next generation of psychedelic inspired medicines and therapies.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO Exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ.

About BioXcel
BioXcel Therapeutics, Inc. is a clinical-stage biopharmaceutical company utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. BioXcel’s drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices. BioXcel’s two most advanced clinical development programs are BXCL501, an investigational, proprietary, orally dissolving thin film formulation of dexmedetomidine for the treatment of agitation and opioid withdrawal symptoms, and BXCL701, an investigational, orally administered, systemic innate immunity activator in development for the treatment of aggressive forms of prostate cancer and advanced solid tumors that are refractory or treatment naïve to checkpoint inhibitors.

Forward-Looking Statements

Certain statements in this news release related to the Company constitute “forward-looking information” within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “will”, “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “potential” or “continue”, or the negative thereof or similar variations. Forward-looking information in this news release include, but is not limited to, statements regarding the success of an application stemming from the international patent application, accuracy of the published patent application’s results, the effectiveness of the patent application’s findings on agitation, the ability to accurately monitor clinical subjects, episodes of agitation and behaviour, ability to accurately predict physiological and behavioural correlation, the successful implementation of results to various subjects and the ability to utilize the a patent stemming from the international patent application. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including history of negative cash flows; limited operating history; incurrence of future losses; availability of additional capital; lack of product revenue; compliance with laws and regulations; difficulty associated with research and development; risks associated with clinical trials or studies; heightened regulatory scrutiny; early stage product development; clinical trial risks; regulatory approval processes; novelty of the psychedelic inspired medicines industry; as well as those risk factors discussed or referred to herein and the risks described under the headings “Risk Factors” in the Company’s filings with the securities regulatory authorities in all provinces and territories of Canada which are available under the Company’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

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Clearmind Medicine Holds Annual and Special Shareholders Meeting

Clearmind Medicine Holds Annual and Special Shareholders Meeting

TORONTO,September 1, 2021, Clearmind Medicine Inc. (CSE: CMND) (“Clearmind”or the “Company“), a psychedelic medicine biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and undertreated health problems, today announces that all resolutions were duly passed by shareholders at the Company’s Annual and Special Meeting held on September 1, 2021.

“I am pleased to welcome Oz and Oded to our Board of Directors. Together, they bring decades of experience in corporate finance and accounting – areas that are critical to an emerging public company. Both gentlemen have diverse backgrounds in business, management, and leadership, and I know their insight will be invaluable as we work together to establish Clearmind as a leading creator of novel therapeutics for treating mental health issues,”commented Adi Zuloff-Shani, Ph.D., CEO of Clearmind.

OdedGilboa

Mr.Gilboa brings over 20 years of experience in finance and public accounting,having served as a senior finance executive in the technology and biotech industries with responsibilities in corporate finance, accounting, strategic planning and operational and financial management.

Gilboa’s prior positions include CFO of several public companies; CannaPowder Inc.(OTCQB: CAPD) a biomedical company focused on the nutraceutical industries, Emerald Medical Applications Corp. (OTCQB: MRLA) developer of a medical application for the early detection of skin cancer and BreedIt Corp (OTCQB: BRDT) an aggrotech company focused on the development of advanced agriculture breeding. Other financial positions include, Revenue Manager of Mylan Specialty, a subsidiary of Mylan Inc. (NASDAQ: MYL), Director of Finance and US Controller of Taro Pharmaceuticals (NASDAQ:TAROF), and Director of Finance at IDT Corporation(NYSE:IDT), a worldwide provider of telecommunications and media services.

Mr.Gilboa is a CPA with licenses in the US and Israel. He graduated with a B.A in Economics and Accounting degree from Tel-Aviv University and an M.B.A. from Recanati Business School also at Tel-Aviv University.

OzAdler

Mr.Adler currently serves as Chief Financial Officer of SciSparc Ltd (OTC:SPRCF) and sits on the Board of Elbit Imaging Ltd and Charging Robotics Ltd., and previously served as the Chief Financial Officer of Medigus Ltd.

Mr.Adler worked in the audit department of Kost Forer Gabbay & Kasierer, amember of Ernst & Young Global. Mr. Adler is a certified public accountant in Israel and holds a B.A. degree in Accounting and Business Management from The College of Management, Israel.

About Clearmind Medicine Inc.

Clearmind is a 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 two patent families. Thefirst, “Binge Behavior Regulators”, has been granted in the U.S.,Europe, China and India, with pending divisional applications in Europe and theU.S. The second, “Alcohol Beverage Substitute”, has been approved for a European patent, with pending applications in the U.S., China and India. 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 the Canadian Securities Exchange under the symbol “CMND.”

For further information, please contact:

Investor Relations,

Email:invest@clearmindmedicine.com

Telephone: (778) 400-5347

General Inquiries,

Info@Clearmindmedicine.com

www.Clearmindmedicine.com

FORWARD-LOOKING STATEMENTS:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks,uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements.Such statements include submission of the relevant documentation within the required timeframe to the satisfaction of the relevant regulators and raising sufficient financing to complete the Company’s business strategy. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

Investing into early-stage companies inherently carries a high degree of risk, and investment into securities of the Company shall be considered highly speculative.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended,and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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MindMed Joins Critical Path Institute’s Patient-Reported Outcome Consortium

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED), (DE: MMQ) (the “Company”), a leading biotech company developing psychedelic-inspired therapies, has joined the Critical Path Institute’s (“C-Path’s”) Patient-Reported Outcome (PRO) Consortium to assist in the development of new approaches to advance medical innovation and regulatory science.

C-Path ( www.c-path.org ) has multiple active consortia and programs that leverage knowledge

sharing to spur innovation. MindMed will participate in C-Path’s PRO Consortium, contributing to its collaborative framework for qualification of clinical outcome assessments (COAs) for use as efficacy endpoint measures in clinical trials.

“We welcome the opportunity to contribute our expertise in real-world data collection. Working with this industry leading effort gives us an opportunity to shape best practices in clinical evaluation and digital measurement,” said MindMed’s Chief Medical Officer Daniel Karlin, MD MA. “Technological advancement is allowing us to predict individual disease trajectories and outcomes, and enables us to build models of specific patterns and clusters of patient experiences. This progress paves the way for a new phase of personalized precision medicine.”

Stephen Joel Coons, PhD, Senior Vice President of C-Path’s COA Program, stated, “We are delighted to have MindMed join the PRO consortium, which further highlights MindMed’s commitment to patient-focused drug development. MindMed is blazing new trails in the treatment of a number of conditions that significantly impair human function and well-being, and we welcome its contributions to collaboratively advance  our understanding of the science underpinning the measurement of clinical benefit.”

MindMed’s goal is to help create more personalization in the pharmaceutical field that can allow for more accurate drug selection and drug combinations, precise dosage, timing and frequency of administration, and adjacent therapeutic interventions including psychotherapies and digital therapeutics.

About MindMed

MindMed is a clinical-stage psychedelic medicine biotech company that seeks to discover, develop and deploy psychedelic-inspired medicines and therapies to address addiction and mental illness. The Company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to MindMed’s approach to developing the next generation of psychedelic-inspired medicines and therapies.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO Exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ.

Forward-Looking Statements

Certain statements in this news release related to the Company constitute “forward-looking information” within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “will”, “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “potential” or “continue”, or the negative thereof or similar variations. Forward-looking information in this news release include, but are not limited to, statements regarding MindMed’s role at C-Path, the ability to develop new approaches to advance innovation and regulatory science and MindMed’s success in its goals in the pharmaceutical field. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including history of negative cash flows; limited operating history; incurrence of future losses; availability of additional capital; lack of product revenue; compliance with laws and regulations; difficulty associated with research and development; risks associated with clinical trials or studies; heightened regulatory scrutiny; early stage product development; clinical trial risks; regulatory approval processes; novelty of the psychedelic inspired medicines industry; as well as those risk factors discussed or referred to herein and the risks described under the headings “Risk Factors” in the Company’s filings with the securities regulatory authorities in all provinces and territories of Canada which are  available under the Company’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

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Clearmind Medicine Commences Trading On The Frankfurt Stock Exchange

Clearmind Medicine Commences Trading On The Frankfurt Stock Exchange

Shares To Be Dually Listed On Canadian Securities Exchange

TORONTO,Aug. 17, 2021– Clearmind Medicine Inc. (CSE: CMND) (“Clearmind”or the “Company“), a psychedelic medicine biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and undertreated health problems, is pleased to announce the listing of its common shares for trading on the Frankfurt Stock Exchange (“FSE”) under the symbol CWY0.

The FSE is the world’s third largest trading exchange, ranking only behind the New York Stock Exchange and NASDAQ. Home to public companies from more than 80 different countries, the FSE represents over 1.4 million securities and generates more than €1 trillion trading volume annually.

“We are very pleased to have Clearmind shares dually -listed on the Frankfurt Stock Exchange. The increased visibility will help strengthen trading liquidity and facilitate investment in the Company by institutional and retail investors across Europe. The psychedelic drug market is expected to surpass $10 billion by 2027, and we believe Clearmind shares provide an excellent opportunity to participate in that growth,“ commented Adi Zuloff-Shani, Ph.D., CEO of Clearmind.

About Clearmind Medicine Inc.

Clearmind is a 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 two patent families. The first, “Binge Behavior Regulators”, has been granted in the U.S., Europe, China and India, with pending divisional applications in Europe and the U.S. The second, “Alcohol Beverage Substitute”, has been approved for a European patent, with pending applications in the U.S., China and India. 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 the Canadian Securities Exchange under the symbol “CMND” and the Frankfurt Stock Exchange under the symbol “CWY0.”

For further information, please contact:

Investor Relations,

Email: invest@clearmindmedicine.com

Telephone: (778) 400-5347

General Inquiries,

Info@Clearmindmedicine.com

www.Clearmindmedicine.com

FORWARD-LOOKING STATEMENTS:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe to the satisfaction of the relevant regulators and raising sufficient financing to complete the Company’s business strategy. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. 

Investing into early-stage companies inherently carries a high degree of risk, and investment into securities of the Company shall be considered highly speculative.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation ServicesProvider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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Mark Haden, Psychedelic Medicine Expert, Joins Clearmind Medicine’s Advisory Board

Mark Haden, Psychedelic Medicine Expert, Joins Clearmind Medicine’s Advisory Board

Initial Focus on MEAI ClinicalTrial Protocol

TORONTO,Aug. 3, 2021 — Clearmind Medicine Inc. (CSE: CMND) (“Clearmind” or the”Company“), a psychedelic medicine biotech company focused onthe discovery and development of novel psychedelic-derived therapeutics tosolve widespread and undertreated health problems, announces that Mark Hadenhas joined the Company’s Scientific Advisory Board (the “SAB”). The SAB’sinitial focus will be providing guidance on the Company’s request for anInvestigational New Drug review from the US Food and Drug Administration (“FDA”)for MEAI, for treating Alcohol Use Disorder (“AUD”).

Arecognized leader in the field, Mr. Haden has spent his career working toadvance the use of psychedelics in medicine. He currently serves as director ofclinical research at Psygen Industries, a manufacturer of pharmaceutical-gradepsychedelic drug products for clinical research and therapeutic applicationsand is an adjunct professor at the University of British Columbia School ofPopulation and Public Health.

Mr.Haden has substantial research experience, including a leadership role in thePRIME study (Psilocybin Research Investigating Medical Efficacy), whichexplores psilocybin as an adjunct in the treatment of substance use disorders,and he has spent 10 years as the chairman and executive director of MAPS Canada(Multidisciplinary Association for Psychedelic Studies), an organization hefounded. He has also dedicated over 25 years to working directly with patientsthrough the Vancouver Coastal Health Addiction Services at the Pacific SpiritCommunity Health Centre.

Heis a frequent keynote speaker on the topic of psychedelics and has beenpublished in a number of journals, including the Canadian Journal of PublicHealth, International Journal of Drug Policy, Encyclopedia of Public Health,Harm Reduction Journal, Open Medicine, Journal of Psychoactive Drugs, and theJournal of Studies on Alcohol and Drugs. He was also instrumental in helpingthe Health Officers Council of British Columbia develop their position papers,lectures and presentations on issues regarding the regulation of illegal drugs.

“Markis an important addition to our SAB. He is one of the world’s leading advocatesfor the legalization of psychedelics and a strong proponent of their medicinalvalue. His research into psychedelics and their potential to treat addictionparallels the work we are doing to develop therapies to manage AUD, and I amconfident that his contribution to our efforts to secure FDA approval for MEAI willbe invaluable,” commented Adi Zuloff-Shani, Ph.D., CEO of Clearmind.

Mr.Haden noted, “Clearmind’s innovative approach to harnessing the propertiesof psychedelics to create therapeutics for mental health issues has thepotential to change millions of lives around the world. I have spent my careeron a similar quest, and I am delighted to facilitate this effort in any way Ican. I very much look forward to working with the talented team at Clearmind aswell as the other distinguished members of the advisory board.”

AboutClearmind Medicine Inc.

Clearmindis a psychedelic pharmaceutical biotech company focused on the discovery anddevelopment of novel psychedelic-derived therapeutics to solve widespread and underservedhealth problems, including alcohol use disorder. Its primary objective is to researchand develop psychedelic-based compounds and attempt to commercialize them asregulated medicines, foods or supplements.

TheCompany’s intellectual portfolio currently consists of two patent families. Thefirst, “Binge Behavior Regulators”, has been granted in the U.S.,Europe, China and India, with pending divisional applications in Europe and theU.S. The second, “Alcohol Beverage Substitute”, has been approved for aEuropean patent, with pending applications in the U.S., China and India. TheCompany intends to seek additional patents for its compounds whenever warrantedand will remain opportunistic regarding the acquisition of additional intellectualproperty to build its portfolio.

Sharesof Clearmind are listed for trading on the Canadian Securities Exchange underthe symbol “CMND.”

For further information, please contact:

Investor Relations,

Email:invest@clearmindmedicine.com

Telephone: (778) 400-5347

General Inquiries,

Info@Clearmindmedicine.com

www.Clearmindmedicine.com

FORWARD-LOOKING STATEMENTS:

Thisnews release may contain forward-looking statements and information based oncurrent expectations. These statements should not be read as guarantees offuture performance or results. Such statements involve known and unknown risks,uncertainties and other factors that may cause actual results, performance orachievements to be materially different from those implied by such statements.Such statements include submission of the relevant documentation within therequired timeframe to the satisfaction of the relevant regulators and raisingsufficient financing to complete the Company’s business strategy. There is nocertainty that any of these events will occur. Although such statements arebased on management’s reasonable assumptions, there can be no assurance thatsuch assumptions will prove to be correct. We assume no responsibility toupdate or revise them to reflect new events or circumstances.

Investinginto early-stage companies inherently carries a high degree of risk, andinvestment into securities of the Company shall be considered highlyspeculative.

Thispress release shall not constitute an offer to sell or the solicitation of anoffer to buy, nor shall there be any sale of the securities in any province inwhich such offer, solicitation or sale would be unlawful.

Neitherthe Canadian Securities Exchange (the “CSE”) nor its Regulation ServicesProvider (as that term is defined in the policies of the CSE) acceptsresponsibility for the adequacy or accuracy of this release.

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Clearmind Issues Shareholder Letter

Clearmind Issues Shareholder Letter

Dear Shareholders,

As Clearmind’s new CEO, I would like to take this opportunity to welcome you as ashareholder, introduce myself and give you an update on the Company aswell as some insight regarding our plans going forward.

I trust by now you are aware that this past May we finalized a Change ofBusiness Listing on the Canadian Stock Exchange (CSE). In conjunction with thelisting, the Company changed its name from Cyntar Ventures Inc. to ClearmindMedicine Inc. to better reflect our shift to the research and development ofinnovative psychedelic therapeutics. As of May 26th, shares of Clearmind havebeen trading on the CSE under the symbol “CMND.”

As we announced last week, I was recently appointed as the Company’sCEO. I first joined Clearmind as a member of the Scientific Advisory Board. AsI became more involved in the Company and reviewed the pre-clinical testingresults, I recognized real commercial potential. So, when I was offered theposition of CEO, I jumped at the opportunity to initiate the regulatoryapproval process for our 5-Methoxy-2-aminoindane (MEAI), a novel syntheticsmall molecule psychedelic, with Alcohol Use Disorder (AUD) as the initialindication. Further to that, it is my intention to use my experience to build aviable proprietary psychedelic-centric product pipeline for Clearmind.

Why Psychedelics?

A researcher at heart, I was intrigued by the mounting evidencesupporting the “Psychedelic Renaissance,” particularly for the treatment ofmental health disorders, where existing therapies can be ineffective and areoften associated with adverse side effects.

The FDA seems receptive to the possibilities; they have easedrestrictions on research into psychedelic-based pharmaceuticals and theyrecently granted the first Breakthrough Therapy designation to twopsilocybin-based drugs for the treatment of Major Depressive Disorder.

Another promising indicator: several states have proposed or arecurrently preparing legislation permitting psilocybin use for medical purposes.

Our Mission

Clearmind’s mission is to leverage the properties of our compounds todevelop novel therapeutics that address prevalent mental health conditionswhich are under-treated or lacking effective treatments today, such asaddictions.

Our leading compound, MEAI, is designed to address AUD, binge drinkingand other binge behavior prevention, as well as addiction, conditions thataffect over 13 million people in the U.S. alone.

MEAI is a novel psychoactive aminoindane derivative that simulates theeuphoric alcohol-like experience while reducing the desire to consume alcohol.

Pre-clinicalstudy results were extremely favorable, demonstrating a high safety profile andpromising efficacy. We are now beginning the process of requesting anInvestigational New Drug (IND) review with the FDA. The first step is a pre-INDmeeting, after which an IND submission will be filed in preparation for phase Iclinical study in humans.

IP Portfolio

Intellectual Property is the primary asset of any pharmaceuticalcompany, and as such it is critical that we protect the proprietary nature ofour intellectual property, whether it is our compounds, formulations,indications, etc., as well as the investment of time and capital we have allmade in the Company. This is especially important now, as researchers and pharmaceuticalcompanies begin to recognize that the benefits and potential applications for psychedelictreatments represent a substantial market opportunity.  

The Clearmind IP Portfolio currently comprises two patent families; bingebehavior regulators which have been granted approval in the U.S., Europe,China, and India, as well as pending divisional applications in Europe and theUS. Our alcohol beverage substitute has been approved for a European patent,with pending applications in the US, China, and India.

We are seeking additional patents to expand not only our IP portfoliobut also our therapeutic solutions for underserved conditions.

Financial Summary

I am happy to report that Clearmind is financially sounder since theChange of Business listing. In addition to eliminating obligations related tothe previous business, we recently secured $6.2 million in private placement.The capital raised strengthens our balance sheet and provides us funding forour current R&D plan, and since the offering was a unit deal, the warrants,if exercised, present the possibility for additional future capital.

Looking Ahead

I believe psychedelic-based medicine has the potential to revolutionizethe way we treat mental health issues. Clearmind is committed to creatingeffective therapies that will better the lives of millions. Our management teamhas the expertise and passion necessary to achieve that objective, and we haveattracted a world-class Scientific Advisory Board to help us become a leader inthe field.  

I would like to thank you for your continued support along this journeyand look forward to sharing more good news with you soon.

Sincerely,

Adi Zuloff-Shani, PhD.

Chief Executive Office

If you would like more information on our recent progress, we invite youto read the listing documents posted on the Exchange website www.thecse.com.

Learn more at:

www.Clearmindmedicine.com

Investor Relations,

Email: invest@clearmindmedicine.com

Telephone: (778) 400-5347

General Inquiries,

Info@Clearmindmedicine.com

FORWARD-LOOKINGSTATEMENTS:

This news release may containforward-looking statements and information based on current expectations. Thesestatements should not be read as guarantees of future performance or results.Such statements involve known and unknown risks, uncertainties and other factorsthat may cause actual results, performance or achievements to be materiallydifferent from those implied by such statements. Such statements includesubmission of the relevant documentation within the required timeframe to thesatisfaction of the relevant regulators and raising sufficient financing tocomplete the Company’s business strategy. There is no certainty that any ofthese events will occur. Although such statements are based on management’sreasonable assumptions, there can be no assurance that such assumptions willprove to be correct. We assume no responsibility to update or revise them toreflect new events or circumstances.

Investing into early-stagecompanies inherently carries a high degree of risk and investment intosecurities of the Company shall be considered highly speculative.

This press release shall notconstitute an offer to sell or the solicitation of an offer to buy nor shallthere be any sale of the securities in any province in which such offer,solicitation or sale would be unlawful. The securities issued, or to be issued,under the Private Placement have not been, and will not be, registered underthe United States Securities Act of 1933, as amended, and may not be offered orsold in the United States absent registration or an applicable exemption fromregistration requirements.

Neither the CanadianSecurities Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the CSE) accepts responsibility for the adequacy oraccuracy of this release.

Not for distribution to U.S. newswire services or dissemination in theUnited States.

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Mydecine’s Prospects Look Magical, Like A Mushroom

Summary
  • The company is developing molecules based on psilocybin to treat PTSD and also has an app for psychedelic after-care remote therapy.
  • Mydecine is the first company in the world to complete an international legal export of dried magic mushrooms.
  • The future for psychedelic-assisted therapeutic solutions looks bright and it seems that their legalization in the USA is just a matter of time.
Psychedelics Investment
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Investment thesis

I like the psychedelics sector because the regulatory tide seems to be turning. However, there seems to be little coverage of the companies from this field on SA and I think the reason for this is that many of them are based in Canada. Well, I’ve already covered Numinus Wellness (OTCPK:LKYSF) and Cybin (OTCQB:CLXPF) and today I’m taking a look at Mydecine Innovations Group (OTCPK:MYCOF). The latter has several advantages over its competitors such as collaborating with military personnel as well as access to a mycology lab. The company also has a license to legally research psilocybin and it owns a virtual telehealth app for psychedelic after-care remote therapy.

Just like Numinus and Cybin, Mydecine is another narrative-driven stock in the psychedelics space and I like the story behind it.

Overview of the business

In its own words, Mydecine is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality.

What does this mean? Well, in layman’s terms, the company plans to use magic mushrooms to treat posttraumatic stress disorder (PTSD). Yes, psilocybin is found in magic mushrooms. Mydecine has seven molecule designs and its clinical trials are at Phase 2A, with test sites approved at Leiden University, University Of Alberta, Royal Ottawa Hospital, and Western Ontario University. Overall, it’s at a pretty early stage but it has developed partnerships and secured licenses that provide it with several advantages over its peers.

(Source: Mydecine)

It’s too early to tell if any of the molecules can lead a commercial success.

In December 2020, Mydecine completed a commercial harvest of 20 kilograms of magic mushrooms and in March 2021 it became the first company in the world to complete an international legal export of dried magic mushrooms.

Notice how I keep mentioning legal. This is because psychedelic-assisted therapeutic solutions companies are in limbo at the moment. Some of the leaders in the sector like COMPASS Pathways (CMPS), MindMed (MNMD), and Numinus have high valuations based on the eventuality that governments around the world will approve the therapeutic use of psychedelics. And as I mentioned at the start of this article, the tide is turning, especially in the USA.

In 2018, COMPASS’ synthetic psilocybin (COMP360) was granted breakthrough therapy status by the U.S. Food and Drug Administration. In June 2021, the Drug Policy Reform Act was introduced in Congress. It has the potential to become the first bill to federally decriminalize possession of all currently illicit drugs and this would likely lead to a loosening of restrictions on research into psychedelic therapies.

(Source: Numinus)

The mental health market opportunity for psychedelic-assisted therapeutic solutions is estimated to be pretty large. According to data from the National Institute of Mental Health, the direct and indirect economic costs of mental disorders in the USA alone are $467 billion.

(Source: Cybin)

Worldwide sales of antidepressant drugs are expected to reach almost $16 billion by 2023, according to a report of Allied Market Research.

As I said, this is a narrative-driven stock and the legalization of psychedelic-assisted therapeutic solutions is likely to provide a huge boost to most companies in the sector.

Let’s talk about the company’s telemedicine offering. In August 2020, Mydecine bought a company named MindLeap Health for C$2.5 million ($2 million) in shares, and in September 2020 it launched a digital telehealth mobile application for mental coaching and wellbeing.

The app is free and it aims to provide analytics into mental health to improve outcomes through goal-setting, mood, emotion, and habit tracking.

(Source: Mydecine)

Mydecine will make money through in-app purchases of mental health and wellbeing programs by charging a 9% fee for each session. At the moment, the app doesn’t seem to have gathered much traction but at least the reviews are pretty good. Most of them are five stars and the average rating stands at 4.8 stars as of the time of writing.

(Source: appgrooves)

The plans for the app are ambitious for 2021 as Mydecine plans to significantly expand the specialist and partner network as well as the social media presence.

(Source: Mydecine)

The acquisition agreement foresees several bonus payments based on revenue milestones but unfortunately, it seems unlikely that these will be met. However, I still view this app as a good asset considering the growing valuation of telemedicine companies due to the Covid-19 pandemic.

(Source: Sedar)

The most significant red flag for me regarding Mydecine is high expenses, especially G&A. As you can see, corporate development and consulting fees alone totaled over C$3 million ($2.5 million) in Q1 2021.

(Source: Mydecine)

The balance sheet looks fine at the moment thanks to C$20 million ($16.1 million) raised through bought-deal financings during the period. However, I think you should keep an eye on the cash burn rate.

(Source: Mydecine)

Turning our attention to valuation, it seems nearly impossible to come up with numbers for early-stage biotech companies. The story is narrative-driven and it’s not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. Taking this into account, I’m just going to say that I’m bullish on Mydecine at today’s share price. I really like the company’s network, its ability to export magic mushrooms as well as its telehealth app.

In the long run, Mydecine needs to advance its molecules through the clinical trial process and hope it’s legal to sell them if they are proven to be effective. Also, the company has to bring its app to the mainstream and manage to monetize it successfully. It looks like a good app and the reviews are great so far.

Investor takeaway

I’m bullish on the psychedelics space and Mydecine is among the companies that I like in this market. What sets it apart from its competitors is its vast partnership network, its licenses, and its telehealth app. I think the latter has a pretty good potential to be successful.

I’m bullish on Mydecine and the company is listed on the NEO Exchange, just like Cybin. However, if you want to get exposure to its shares, the OTC market also seems like a good option as liquidity is similar there at the moment.

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Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I am not a financial adviser. All articles are my opinion – they are not suggestions to buy or sell any securities. Perform your own due diligence and consult a financial professional before trading.

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Clearmind Medicine Inc. Retains Edge Communications Group for Investor Relations and Announces Granting of Stock Options

Clearmind Medicine Inc. Retains Edge Communications Group for Investor Relations and Announces Granting of Stock Options

Toronto, Ontario–(Newsfile Corp. – July 2, 2021) – Clearmind Medicine Inc. (CSE: CMND) (“Clearmind” or the “Company“), a psychedelic medicine biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and under-served health problems, today announced that it has retained Edge Growth Holdings Corporation (“Edge Communications Group” or “Edge“) for strategic investor relations and capital markets communications services (the “Agreement“).

Clearmind CEO Gadi Levin stated, “We have been following Edge closely and have been consistently impressed by their innovation in the investor relations space. We feel that our company story will resonate particularly well with their target demographic, and we are excited to begin a professional relationship that we feel will benefit our shareholders.”

Edge is a team of capital markets communications professionals with a specific focus on engaging the millennial and gen z investor demographic. Edge will provide Clearmind a full spectrum communications strategy that combines traditional investor communications with new age platforms such as Instagram, TikTok, Discord & Reddit.

Under the terms of the Agreement, Clearmind will pay Edge Communications Group a monthly fee of CAD $10,000 for ongoing strategic communication services. In addition, Kevan Matheson will receive 100,000 stock options with an exercise price of $0.84 that vest after 4 months and have a term of two years. The Agreement is for an initial term of four months. At the time of this announcement, neither Edge Communications Group, nor any of its executives have an ownership interest, directly or indirectly, in Clearmind or its securities.

Additionally, the Company wishes to announce that in accordance with the terms of the Company’s stock option plan it has granted a total of 800,000 options (the “Options“), with an exercise price of $0.84, of which 600,000 options were issued to directors and officers and the remainder, 200,000 options, to consultants of the Company. The Options shall vest in twelve (12) equal quarterly installments over a 36-month period, with one twelfth of the Options vesting at the end of each quarter with the first vesting on October 1st, 2021.

http://edgecommunicationsgroup.com

About Clearmind Medicine Inc.

Clearmind is a psychedelic medicine biotech company focused on the discovery and development of novel psychedelic derived therapeutics to solve widespread and under-served health problems including alcohol use disorder. Its primary objective is to research and develop compounds derived from psychedelics and attempt to commercialize them as regulated medicines, foods or supplements.

The Company’s intellectual portfolio currently consists of two patent families, one for binge behavior regulators and the other for an alcoholic beverage substitute. Within these two families the Company has two U.S. patents, one European patent, and allowed applications in China and India and pending divisional applications in Europe and the US related to binge behavior regulators; and a European patent and pending applications in the US, China and India related to the alcohol beverage substitute family.

For further information, please contact:

Investor Relations Contact
Email: invest@clearmindmedicine.com
Telephone: (778) 400-5347
www.Clearmindmedicine.com

For other inquiries
Info@Clearmindmedicine.com

FORWARD-LOOKING STATEMENTS:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe to the satisfaction of the relevant regulators and raising sufficient financing to complete the Company’s business strategy. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

Investing into early stage companies inherently carries a high degree of risk and investment into securities of the Company shall be considered highly speculative.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Not for distribution to U.S. newswire services or dissemination in the United States.

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If you missed the cannaBUS, jump on the psilocybin train

Maxim Group Gives Buy Rating To 10 Psychedelic Stocks: Compass, MindMed, Cybin, Field Trip And More

Now is the time to buy these 10 psychedelic stocks.

When the cannabis company GW Pharmaceuticals sold for billions earlier this year, those who didn’t invest were left with major regret. If you missed out on cannabis, now is your chance to be an early investor in the shroom boom as psychedelic companies begin to follow a similar pathway. These 10 companies are worth the buy according to Maxim Group’s latest analysis.

PDF of article

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Clearmind Medicine Inc. Announces Closing of Previously Announced Private Placements for Aggregate Gross Proceeds of CAD$6.225 Million at CAD $0.75 per Unit

Clearmind Medicine Inc. Announces Closing of Previously Announced Private Placements for Aggregate Gross Proceeds of CAD$6.225 Million at CAD $0.75 per Unit

Toronto, Ontario–(Newsfile Corp. – June 30, 2021) – Clearmind Medicine Inc. (CSE: CMND) (“Clearmind” or the “Company“), a psychedelic medicine biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and under-served health problems, today announced that (further to its press releases of May 27, 2021, and June 20, 2021) that it has closed its previously announced private placement (the “Offering“) for an aggregate amount of $6,225,000 (the “Gross Proceeds“). The Offering resulted in the issuance of an aggregate of 8,300,000 units of the Company (“Units“) at a price of $0.75 per Unit. Each Unit consisted of one common share of the Company (“Common Share“) and one common share purchase warrant (“Warrant“), with each Warrant being exercisable to acquire one additional Common Share of the Company (a “Warrant Share“) at an exercise price of $1.25 per Warrant Share until December 30, 2022.

Cleramind Medicine CEO, Gadi Levin, said, “We are extremely pleased to have the continued support of the investment community. This financing is critical to the fast-growing psychedelic medicine industry. Clearmind Medicine is committed to develop solutions for the millions suffering from mental illness and addiction globally.”

Net proceeds from the Offering will be mainly used by the Company for the implementation of its R&D plan.

Common Shares and Warrants issued pursuant to the Offering will be subject to a statutory hold period, expiring on October 31, 2021, in accordance with applicable securities legislation.

The Company paid finder’s fees in association with this financing, payable in cash, of up to 10% of the Gross Proceeds.

About Clearmind Medicine Inc.

Clearmind is a psychedelic medicine biotech company focused on the discovery and development of novel psychedelic derived therapeutics to solve widespread and under-served health problems including alcohol use disorder. Its primary objective is to research and develop compounds derived from psychedelics and attempt to commercialize them as regulated medicines, foods or supplements.

The Company’s intellectual portfolio currently consists of two patent families, one for binge behavior regulators and the other for an alcoholic beverage substitute. Within these two families the Company has two U.S. patents, one European patent, and allowed applications in China and India and pending divisional applications in Europe and the US related to binge behavior regulators; and a European patent and pending applications in the US, China and India related to the alcohol beverage substitute family.

For further information, please contact:

Investor Relations
Contact – Edge Communications Group
Email: invest@clearmindmedicine.com
Telephone: (778) 400-5347

For other inquiries
Info@Clearmindmedicine.com

FORWARD-LOOKING STATEMENTS:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe to the satisfaction of the relevant regulators and raising sufficient financing to complete the Company’s business strategy. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

Investing into early-stage companies inherently carries a high degree of risk and investment into securities of the Company shall be considered highly speculative.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Not for distribution to U.S. newswire services or dissemination in the United States.