Clearmind Medicine (NASDAQ: CMND) stock surged over 26% in intraday trading after securing an exclusive patent licensing agreement with Yissum Research Development.
Clearmind Medicine (CMND) has inked an exclusive patent licensing agreement with Yissum Research Development. This groundbreaking deal gives Clearmind Medicine the exclusive right to develop, manufacture, and commercialize compounds invented by professors Rami Yaka, Ahmend Masaewa, and Avi Priel of the Hebrew University.
These compounds aim to revolutionize the treatment of post-traumatic stress disorder (PTSD) and other mental health conditions. Existing treatments for PTSD provide limited relief and often lead to side effects like weight gain.
Dr. Adi Zullof-Shani, CEO of Clearmind Medicine, expressed excitement about the collaboration with Yissum and the Hebrew University, emphasizing the potential of these psychedelic compounds to provide a new ray of hope to millions worldwide.
Under the agreement terms, Clearmind Medicine will benefit from future milestone payments, royalties on sales, and robust intellectual property protection.
The timing of this agreement is auspicious, given the substantial market opportunity in PTSD treatment. With the global market projected to grow from $16.8 billion in 2023 to $27.37 billion by 2033, Clearmind Medicine is well-positioned to capitalize on the growing demand for innovative mental health solutions.
Clearmind Medicine (NASDAQ: CMND) Stock Reaction
CMND stock soared 26.49% to close at $1.48 on Tuesday. Its value increased by 24.61% this week. Trading activity has witnessed 49,417,379 (49.41 million) shares changing hands, well above the average daily volume of 460.50K.
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