Former Red Bull Canada and Juul Labs Canada executive, Nicholas Kadysh, has been appointed to the role of Executive Special Advisor by Clearmind Medicine.
Kadysh, an expert on regulatory issues, will be Special Advisor for developing MEAI as an alcohol substitute.
MEAI is Clearmind’s novel psychedelic-derived drug candidate for treating addictions. However, the company has stated it is also preforming safety studies for MEAI to be deployed as an alcohol substitute.
Clearmind has stated Kadysh brings his expertise in navigating complex regulatory challenges in the health and food industry.
Kadysh is the founder of PharmAla Biotech, which manufactures MDMA- and MDXX-class molecules for pharmaceutical research, and the Board Chair of Psychedelics Canada, the trade association for the for-profit, legal Canadian psychedelics industry.
Clearmind’s CEO, Dr Adi Zuloff- Shani, commented: “Nick brings invaluable knowledge of corporate affairs and regulations. We are thrilled to have him join the company and contribute from his vast experience to our alcohol substitute programme.”
According to NielsenIQ, a global information services company, non-alcoholic beverage sales are growing quickly. Between August 2021 and August 2022, total dollar sales of non-alcoholic drinks in the US stood at $395 million — a year-on-year growth of approximately 21%.
Alongside its plans for MEAI as an alcohol substitute, Clearmind announced in November that it was embarking on a first-in-human clinical trial evaluating its proprietary drug candidate CMND-100, which is an MEAI- based molecule, for the treatment of Alcohol Use Disorder (AUD).
Clearmind has already progressed MEAI through a preliminary drug development route with several studies, and the company has stated that MEAI holds the promise to break vicious binge-drinking cycles by potentially innervating neural pathways such as 5-HT1A, which leads to decreased impulsivity and “sensible behaviour”.
