Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 68

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 3
Chunk 68
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. Patent prosecution is expensive and time consuming, and we may not be able to file and prosecute
all necessary or desirable patent applications at a reasonable cost or in a timely manner. It is also possible that we will fail to identify
patentable aspects of our research and development output before it is too late to obtain patent protection.

As of October 31, 2024, our portfolio consisted
of nineteen utility patent families including patents and applications having method of use and composition of matter claims. Fourteen
of the patent families are solely owned by the Company and three are jointly owned; one with BIRAD Research and Development Company Ltd.,
or BIRAD, of Bar Ilan University Research, Ramat Gan Israel and the others with Yissum Research Development Company of the Hebrew University
of Jerusalem, or Yissum. In addition, we have licensed two patents from Yissum. The nineteen patent families include thirty granted patents
and fifty three pending applications. We cannot offer any assurances about which, if any, patent applications will issue, the breadth
of any such patent or whether any issued patents will be found invalid and unenforceable or will be threatened by third parties. Any successful
opposition to these patents or any other patents owned by or licensed to us after patent issuance could deprive us of rights necessary
for the successful commercialization of any product candidates that we may develop. Further, if we encounter delays in regulatory approvals,
the period of time during which we could market a product candidate under patent protection could be reduced.

Further, the patent position of pharmaceutical
companies generally is highly uncertain and involves complex legal and factual questions. This renders the patent prosecution process
particularly expensive and time-consuming. There is no assurance that all potentially relevant prior art relating to our patent applications
has been found, which can invalidate a patent or prevent a patent from issuing from a pending patent application. Even if patents do successfully
issue, and even if such patents cover our product candidates, third parties may challenge their validity, enforceability, or scope, which
may result in such patents being narrowed, found unenforceable or invalidated. Furthermore, even if they are unchallenged, our patent
applications and any future patents may not adequately protect our intellectual property, provide exclusivity for our product candidates,
or prevent others from designing around our claims. Any of these outcomes could impair our ability to prevent competition from third parties,
which may have an adverse impact on our business.

If we cannot obtain and maintain effective patent