Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 105

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 4
Chunk 105
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 sites for part A of our Phase I/IIa clinical trial in the United States
for treating patients suffering from AUD.

The CM-CMND-001 clinical trial is designed to be
a multinational, multi-center, double blind, Phase I/IIa single- and multiple-dose tolerability, safety and pharmacokinetic study in healthy
volunteers and AUD subjects. Upon completion of the Phase I/IIa studies, if successful, we will be required to conduct additional clinical
trials subject to securing additional financing.

Looking further, we are also on the journey to
tackle some of the world’s major mental health problems and disorders. We believe that psychedelic solutions such as our drug candidate
may hold the key to providing much needed solutions to various disorders and conditions, including, but not limited to, obesity, weight
loss and metabolic disorder, depression, anxiety, and cocaine addiction. Those suffering from these sorts of mental health disorders have
higher mortality rates than the general population and often experience decreased quality of life as a result of emotional, behavioral
or physical manifestations. Also, globally, the total costs of mental health disorders are significant and expected to increase substantially.
In 2020, the total U. S. expenditure for mental health reached $238.4 billion, and this figure includes expenditures on healthcare service
providers, retail prescription drugs and insurance administration. Nearly 22% of all U. S. adults received some form of mental health treatment
in 2021, up from about 19% just two years earlier. Also, according to Mordor Intelligence, in 2022, Adult Prevalence of Mental Illness
statistics show that 19.86% of adults in the United States are experiencing a mental illness, which is equivalent to nearly 50 million
Americans, with 4.91% experiencing a severe mental illness.

Common mental disorders in the United States that
can be attributed to mental health care costs include anxiety disorders, depression, bipolar disorder, obsessive compulsive disorder (OCD),
and dementia. While current treatments, such as selective serotonin reuptake inhibitors, or SSRIs, and serotonin - norepinephrine
reuptake inhibitors, or SNRIs, are well established and effective for certain patients.

We believe that the world is transitioning to become
a place that is more accepting of psychedelic use, and a revolution in medicine is on the horizon. As we continue to grow our Company,
our goal is to continue to invest, develop and produce solutions