Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 140

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 4
Chunk 140
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 compounds
whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.

License Agreements

On January 15, 2024, we entered into a license
agreement with BIRAD, the research and development company of Bar-Ilan University, which provides us with an exclusive, perpetual, worldwide
and sublicensable license to use the joint patent that we have with BIRAD to further develop, manufacture and commercialize products for
innovative treatment of cocaine addiction (“the BIRAD License Agreement”). According to the BIRAD License Agreement, we shall
pay BIRAD royalties at the rate of 1.5% of net sales, as well as certain fees in the case of sublicenses or an “exit” event,
all subject to the terms as described in the BIRAD License Agreement. We will also pay BIRAD different payments when reaching several
milestones.

On March 19, 2024, we entered into a License Agreement
with Yissum Research Development Company of the Hebrew University of Jerusalem, which provides us with an exclusive, perpetual, worldwide
and sublicensable license to use to Yissum’s patent titled “psychedelic compounds, methods of their preparation and uses thereof”
to further develop, manufacture, and commercialize innovative compounds targeted at treating post traumatic stress disorder and other
health conditions (the “ Yissum PTSD License Agreement”) According to the Yissum PTSD License Agreement, we are required to
pay Yissum annual maintenance fees ranging from $25,000 to $50,000 beginning of the fifth anniversary of the effective date of the Yissum
PSTD License Agreement, and royalties at the rate of 3.0% of net sales, as well as certain fees in the case of sublicensing or an exit
event, all subject to the terms as described in the Yissum PTSD License Agreement. We will also pay Yissum different payments when reaching
several milestones. All right, title and interest in the patent (the Licensed Patent as defined in the Yissum PSTD License Agreement)
vest solely in Yissum, and we shall hold and make use of the license granted. Subject to such Yissum’s ownership rights, all rights
in results of our development shall be solely owned by us.

On March 31, 2024 we entered into a License Agreement
with Yissum Research Development Company of the Hebrew University of Jerusalem, which provides us