As a result of the biotech company hiring an experienced CEO, Clearmind Medicine Inc. (NASDAQ: CMND) has increased 10.00% to $3.30 in after-hours trading on the latest check Friday.
A CMND appointment, which one?
Nicholas Kadysh, a seasoned regulatory executive, has been appointed by Clearmind Medicine (CMND) as a special advisor for the advancement of MEAI as an alcohol alternative.
Kadysh is a professional specialist in navigating difficult regulatory problems in the health and food industries. She was a previous executive at Red Bull Canada and Juul Labs Canada. He is also the Board Director of Psychedelics Canada, the business group for the for-profit, lawful Canadian psychedelic drugs sector, and the creator of PharmAla Biotech, which produces MDMA- and MDXX-class compounds for medicinal research.
Kadysh will contribute his wide expertise and provide a significant understanding of corporate affairs and laws to CMND’s alcohol alternative program. In addition to creating a parallel track for MEAI’s use as an alcohol substitute, CMND is also developing its original, revolutionary psychedelic-derived medication candidate MEAI for addiction treatment. The safety studies are now being conducted for this by CMND.
Sales of non-alcoholic beverages are increasing significantly, according to NielsenIQ, a global provider of information services. The total dollar sales of non-alcoholic beverages in the US between August 2021 and August 2022 reached $395 million, an increase of almost 21% year over year.
CNMD is moving closer to conducting human clinical trials
The MEAI-based chemical CMND-100, a novel psychedelic-derived medication candidate, is already being produced in clinical quantities, according to a recent announcement by CMND. The manufactured batches will be utilized in a forthcoming first-in-human (FIH) clinical trial by CNMD to assess the efficacy of the candidate medicine, CMND-100, for the management of alcohol use disorder (AUD).
The molecule is being manufactured in accordance with GMP (Good Manufacturing Process) guidelines in order to meet FDA criteria after going through MEAI’s synthesis development process. Because Clearmind Medicine (CMND) had produced MEAI medicinal material successfully, it was able to utilize it in pre-clinical tests to test the safety of its novel molecule. This allowed for the manufacture of clinical batches.