Clearmind Medicine Inc. (NASDAQ: CMND) received approval from the Johns Hopkins Medicine Institutional Review Board to advance its Phase I/II clinical trial of CMND-100 to Parts B and C, the company announced May 26.

The multicenter study examines single and multiple dose tolerability, safety and pharmacokinetics of CMND-100 in healthy volunteers and subjects with alcohol use disorder. The approval permits the company to proceed with the next phases of the trial following completion of earlier stages.

CMND-100 is described as a non-hallucinogenic compound based on MEAI being developed as a treatment for alcohol use disorder. The drug candidate is part of what the company calls second-generation neuroplastogen-derived therapeutics.

"This IRB approval represents another important step forward in our clinical development program for CMND-100," said Dr. Adi Zuloff-Shani, chief executive officer of Clearmind Medicine.

Vancouver-based Clearmind focuses on developing psychedelic-derived compounds for commercialization as regulated medicines, foods or supplements. The company holds an intellectual property portfolio of 19 patent families, including 31 granted patents.

The information is based on a company press release statement.