Move over Ozempic, psychedelics might help people lose weight

Clearmind Medicine Inc. (Nasdaq: CMND) announced that a new article published on ACS Pharmacology & Translational Science revealed promising results from a recent 5-methoxy-2-aminoindane (MEAI) study for combating obesity.

MEAI is a synthetic compound that is considered to be a “Next-Gen” psychedelic in that it doesn’t produce hallucinogenic effects. MEAI hit the market in the late 2010’s as a potential alcohol addiction treatment drug and claimed to be invested by by Dr. Ezekial Golan.

Graphic provided by ACS Pharmacology

The study led by Prof. Joseph Tam, head of the Obesity and Metabolism Laboratory at the School of Pharmacy at the Hebrew University of Jerusalem came to the following conclusions:

Results demonstrated that MEAI treatment significantly reduced DIO-induced overweight and adiposity by preserving lean mass and decreasing fat mass.
MEAI treatment positively affected glycemic control by attenuating DIO-induced hyperglycemia, glucose intolerance, and hyperinsulinemia.
MEAI reduced DIO-induced hepatic steatosis by decreasing hepatic lipid accumulation and lowering liver triglyceride and cholesterol levels, primarily by inhibiting de novo lipid synthesis.

Clearmind holds the intellectual property rights to Golan’s patents. The company has an exclusive licensing agreement with Yissum Research Development Company of the Hebrew University of Jerusalem. Clearmind said it will get exclusive worldwide rights to develop, research, manufacture, market, and commercialize products derived from a patent-pending synthesis of psychedelic compounds.

“The newly published paper shows the efficacy of MEAI as a promising therapeutic approach for weight loss and normalization of metabolic disorders,” said Clearmind CEO Dr. Adi Zuloff-Shani. “The comprehensive experiments demonstrate the ability of MEAI to significantly reduce weight by lowering the fat mass, improve the body’s metabolic function and lower fat accumulation in the liver, all of which position this treatment as a potential breakthrough in the treatment of obesity. We are excited by the potential of MEAI, which may position it at the forefront of weight loss treatments, even compared to the marketed treatments in the percentage of weight loss, its unique mechanism of action, the easy administration and in the fact that no food consumption constrains are required.”

The study went on to say that the findings provided compelling evidence for the antiobesity effects of MEAI treatment and called for further preclinical testing.

Global spending on obesity medications totaled $24 billion last year, according to  IQVIA Institute for Data Science. The company estimated in its latest five-year outlook that it could reach $131 billion by 2028. The current popular weight loss drugs like Ozempic and Wegovy are injectable drugs that are expensive and often not covered by insurance. Clearmind’s MEAI drugs would be consumed in a pill format.