Core Viewpoint - Clearmind Medicine Inc. has signed a non-binding Letter of Intent with Polyrizon Ltd. to develop a novel intranasal formulation for its psychedelic-based treatments, aiming to enhance bioavailability and optimize therapeutic effects [1][2][3] Group 1: Collaboration Details - The collaboration will focus on Clearmind's proprietary drug candidate, 5-Methoxy-2-aminoindane (MEAI), either alone or in combination with Palmitoylethanolamide (PEA), administered intranasally [2] - Research and development efforts will aim to achieve proof of concept for an intranasal formulation of MEAI and MEAI-PEA combinations, assessing the feasibility of intranasal drug delivery [3] - The agreement allows Clearmind to fund the R&D process, while Polyrizon will advance formulation development using its proprietary intranasal drug delivery platform [4] Group 2: Company Background - Clearmind is a clinical-stage biotech company focused on developing psychedelic-derived therapeutics to address major under-treated health issues, including alcohol use disorder [6] - The company holds a portfolio of nineteen patent families, including 31 granted patents, and aims to seek additional patents for its compounds [7] - Clearmind's shares are traded on Nasdaq under the symbol "CMND" and on the Frankfurt Stock Exchange under "CWY0" [7] Group 3: Polyrizon Overview - Polyrizon specializes in developing innovative intranasal hydrogels that create a barrier in the nasal cavity to protect against viruses and allergens [8] - The company is advancing its proprietary Capture and Contain TM hydrogel technology, which functions as a "biological mask" for nasal drug delivery [8]
Clearmind to Evaluate Intranasal Delivery of Its Psychedelic Drug Combination