Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 119

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 4
Chunk 119
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 potentially address the following markets

Anxiety Disorder Overview

Although anxiety is considered a common aspect
of life, anxiety disorders develop when feelings of apprehension and unease persist over an extended period and potentially worsen over
time. Anxiety disorders can present with a range of symptoms and may impact personal health as well as both social and professional interactions.
Furthermore, it is common for those suffering with an anxiety disorder to also have co-occurring mental health disorders or physical illness,
which can compound symptoms and complicate recovery. For example, it is estimated that half of patients diagnosed with depression also
suffer from an anxiety disorder.

There are several types of anxiety disorders, including
generalized anxiety disorder, or GAD, social anxiety disorder and panic disorder, which are distinct but share common symptoms. In the
aggregate, anxiety disorders are considered to be the most common mental illness in the United States, affecting approximately 40 million
adults, or 18% of the population.

Anxiety disorders are generally treated with medication,
psychotherapy or both. Treatment often involves the use of antidepressants, including SSRIs, such as paroxetine, sertraline and citalopram.
However, SSRIs typically have a slow onset of action and have a number of side effects, such as sexual dysfunction, drowsiness and weight
gain. Benzodiazepines are also used to treat anxiety and can offer rapid reduction of symptoms, but their long-term use is associated
with the development of tolerance, respiratory depression, drug dependence and sedative side effects. Finally, benzodiazepines have been
noted to exacerbate the respiratory depression associated with opioids, thus contributing to the mortality associated with OUD.

We are aware of several biopharmaceutical companies
with psychedelic therapies in development for anxiety disorders including MAPS, Cybin, Incannex and MindMed.

Post-Traumatic Stress Disorder Background

PTSD is a psychiatric disorder that affects app
approximately 6% of the U. S. population. PTSD symptoms include recurring and intrusive negative thoughts, mood and memories, reduced cognitive
abilities, hyperarousal, reactivity and avoidance that persist for longer periods than a month after experiencing a traumatic event. Overall
reduction in the quality of life is common in individuals with PTSD leading to disability and the further manifestation of other comorbidities
such as obesity, hypertension, concomitant mental health conditions and suicidality.

The current first line treatment for PTSD is the
use of trauma