As of the most recent premarket check, shares of Clearmind Medicine Inc. (NASDAQ: CMND) are up 69.67% to $2.07, a fantastic increase. This spike comes after it was announced that its Phase I/IIa clinical study of CMND-100, an experimental medication that targets alcohol use disorder or AUD, has received Institutional Review Board (IRB) clearance.
Clinical Trial to Be Led by Yale School of Medicine
Dr. Anahita Bassir Nia, MD, a renowned specialist in psychiatry and addiction medicine, will preside over the study, which is scheduled to begin at Yale School of Medicine’s Department of Psychiatry. With this crucial milestone, Clearmind Medicine’s FDA-regulated clinical program has advanced significantly, allowing for more assessment of the safety, tolerability, and effectiveness of CMND-100.
Handling an International Health Emergency
High costs, minimal effectiveness of less than 30%, and poor patient compliance because to negative side effects are the main obstacles to the current AUD therapy choices. By launching CMND-100, which is ideally positioned to solve these issues and offer AUD sufferers a game-changing treatment, Clearmind Medicine seeks to close this gap.
Focus on Reducing Alcohol Cravings
The upcoming trial will evaluate CMND-100’s potential to reduce alcohol cravings and consumption among individuals with moderate to severe AUD. Data from this study will be instrumental in advancing the investigational drug through Clearmind’s clinical development pipeline.
Collaborative Innovation with Dr. Glitter Pty Ltd
In a related development, Clearmind Medicine recently signed a non-binding term sheet with Dr. Glitter Pty Ltd, a health technology firm specializing in ActivCrystal technology. This groundbreaking oral delivery format encapsulates active ingredients in tasteless, odorless crystals that can be sprinkled on food.
The partnership aims to integrate CMND’s MEAI-based alcohol substitute with ActivCrystal technology, paving the way for innovative solutions in treating AUD. A definitive agreement outlining the collaboration’s framework is expected to follow. These strategic advancements highlight Clearmind Medicine’s commitment to addressing critical gaps in AUD treatment through innovation and collaboration.
