Clearmind Medicine Inc. (NASDAQ: CMND) filed a patent application with the Indian Patent Office covering psychedelic-based compounds for treating mental health disorders and addiction, the company announced.

The Vancouver-based clinical-stage biotech company said the patent application forms part of its expanding global intellectual property portfolio and builds upon its licensing agreement with Yissum Research Development Company of the Hebrew University of Jerusalem.

The patent protects compounds designed to address limitations of classical psychedelics, according to the company's statement. Clearmind focuses on developing non-hallucinogenic, second-generation neuroplastogen-derived therapeutics for conditions including alcohol use disorder.

The company's intellectual property portfolio consists of 19 patent families, including 31 granted patents. Clearmind stated it intends to seek additional patents for its compounds and will consider acquiring additional intellectual property to build its portfolio.

The company's shares trade on Nasdaq under the symbol CMND.