TORONTO, Sept. 21, 2021 (GLOBE NEWSWIRE) — via InvestorWire — 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 it has established a research and development project with Yissum Research Development Company (“Yissum”), the technology transfer company of The Hebrew University of Jerusalem. The collaboration will focus on developing novel, innovative, patentable psychedelics as potential drug candidates to expand Clearmind’s IP portfolio.
Yissum is known for its ability to discover, analyze and design advanced molecular scaffolds to serve as common platforms for synthesizing various structurally related compounds as potential therapeutic agents and drug candidates.
According to the terms of the agreement, The Hebrew University researchers, professors Dmitry Tsvelikhovsky, Masha Niv and Avi Priel, will work together to investigate and innovate synthetic novel analogs of known psychedelic compounds, conduct in silico 3D docking studies and rational design, and screen the compounds in an in vitro platform.
Adi Zuloff-Shani, Ph.D., CEO of Clearmind, commented on the announcement, “This is an important partnership for Clearmind. The academic/technology transfer model is responsible for many medical breakthroughs, and the Hebrew University-Yissum partnership is one of the most prolific in the field. I am certain that our collaboration will yield many potential candidates for further evaluation.”
“Yissum is looking forward to collaborating with Clearmind in its mission to discover novel psychedelic compounds. We have assigned our top researchers from multiple fields to this project, and I am confident their broad expertise and know-how will facilitate Clearmind’s ability to expand their pipeline portfolio,” said Dr. Ilya Pittel, VP of business development at Yissum Research Development Company.
Professor Tsvelihovsky added, “Professors Avi Priel and Masha Niv and I are excited to work with the team at Clearmind to create unique synthetic compounds for the development of novel GPCR-focused therapeutics. We believe psychedelics are going to revolutionize the treatment of mental health, and Clearmind’s plans put it on the leading edge of innovation in the field. We are quite optimistic that our efforts will lead to new psychotherapy drug candidates.”
About Yissum Research Development Company
Yissum is the technology transfer company of The Hebrew University of Jerusalem. Founded in 1964, it serves as a bridge between cutting-edge academic research and a global community of entrepreneurs, investors and industry. Yissum’s mission is to benefit society by converting extraordinary innovations and transformational technologies into commercial solutions that address our most urgent global challenges. Yissum has registered over 10,875 patents globally, licensed over 1,140 technologies and has spun out more than 191 companies. Yissum’s business partners span the globe and include companies such as Boston Scientific, Google, ICL, Intel, Johnson & Johnson, Merck, Microsoft, Novartis and many more. For further information, please visit www.yissum.co.il.
About the Hebrew University of Jerusalem
The Hebrew University of Jerusalem is Israel’s first university, formed in 1918 and opened in 1925. Today, there are over 23,000 students enrolled at the university, including undergraduates, master’s degree students and doctoral candidates. The university has four campuses: Mount Scopus, The Edmond J. Safra (Givat Ram) Campus, and Ein Kerem, all in Jerusalem, and Robert H. Smith Faculty of Agriculture, Food and the Environment, located in Rehovot. Hebrew University Alumni are invited to visit https://new.huji.ac.il.
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 “CWYO.”
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.