Clearmind signs agreement with Hebrew University for psychedelic compound rights

Clearmind Medicine Inc. (Nasdaq: CMND) announced an exclusive licensing agreement with Yissum Research Development Company of the Hebrew University of Jerusalem. Clearmind said it will get exclusive worldwide rights to develop, research, manufacture, market, and commercialize products derived from a patent-pending synthesis of psychedelic compounds.

This company said in a statement that the partnership marks a significant step in harnessing generation 3.0 psychedelic compounds, methods of their preparation, and uses in the treatment of addiction and mental disorders. It will also increase the company’s portfolio in addiction and mental health treatments.

Clearmind CEO Dr. Adi Zuloff-Shani said, “We are witnessing a renaissance within psychedelic medicine, including broad acknowledgment of these therapies and their potential by the medical community. While our existing IP portfolio includes molecules designed to address challenges inherent in classical psychedelics, we remain dedicated to continually enhancing our ongoing innovation. In particular, there has been a rise in demand for a new class of innovative compounds with enhanced psychedelic properties. We believe that these new generation 3.0 compounds hold enormous therapeutic potential, as well as a strong safety profile.”

Yissum is the Tech Transfer Company of the Hebrew University of Jerusalem. The company describes itself as “the bridge between licensing and commercializing research from the university with the world.” The Hebrew University brings together the university’s scientists and collaborates with industry leaders.

Zuloff-Shani added, “The exclusive licensing agreement with Yissum expands our IP portfolio of highly differentiated assets, strengthens our leadership position with potentially first-in-class assets, and illustrates our ongoing commitment to innovation. Our ultimate goal remains unchanged: to assist patients with unmet needs through the discovery of optimized psychedelic medications.”

Clearmind recently filed a patent application with the United States Patent and Trademark Office (USPTO) for the use of  3-methylmethcathinone (with the chemical name 2-(methylamino)-1-(3-methylphenyl)-1-propanon) (“3-MMC”), to prevent and/or treat eating disorders either alone or in conjunction with Palmitoylethanolamide.