Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 141

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 4
Chunk 141
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 with an exclusive, perpetual, worldwide
and sublicensable license to use Yissum’s patent “psychoactive compounds, methods of their preparation and uses thereof in
the treatment of mental disorders” to further develop, manufacture, and commercialize innovative compounds targeted at Generation
3.0 psychedelic compounds for the treatment of mental disorders (the “ Yissum Psychedelic License Agreement). According to the Yissum
Psychedelic 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 Psychedelic License Agreement, and we shall pay Yissum royalties at the rate of
3.0% 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 Yissum
Psychedelic 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 Psychedelic 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.

Government Regulation

The FDA, the EMA, U. S. Department of Health and
Human Services Office of Inspector General, CMS, DEA, and comparable regulatory authorities in state and local jurisdictions and in other
countries impose substantial and burdensome requirements upon companies involved in the clinical development, manufacture, marketing and
distribution of drugs such as those we are developing. These agencies and other federal, state and local entities regulate, among other
things, the research and development, testing, manufacture, quality control, safety, effectiveness, labeling, storage, record keeping,
approval, advertising and promotion, distribution, post-approval monitoring and reporting, sampling and export and import of our product
candidates. Any drug candidates that we develop must be approved by the FDA before they may be legally marketed in the United States and
by the appropriate foreign regulatory agency before they may be legally marketed in those foreign countries. Generally, our activities
in other countries will be subject to regulation that is similar in nature and scope as that imposed in the United States, although there
can be important differences. Additionally, some significant aspects of regulation in the European Union are addressed in a centralized
way