Biotechnology Company Signs Major Contract To Source Distributors and Manufacturers
Clearmind Medicine Signs an Agreement to Source Manufacturers and Distributors for its Alcohol Substitute Beverage Product.
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Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) (“Clearmind” or the "Company"), a clinical-stage biotech company focused on the discovery and development of novel psychedelic-derived therapeutics, has announced a engagement with JS First Sdn. Bhd (“JS First”). This partnership focuses on sourcing global manufacturers and distributors for Clearmind's groundbreaking MEAI-based alcohol substitute beverages, marking a massive step towards international expansion.
A Move into the Non-Alcoholic Beverage Market
This move follows Clearmind's recent announcement regarding its entry into the non-alcoholic beverage market with its proprietary, neurologically active, novel alcohol replacement beverage. This innovative product has been granted patents in the U.S., India, and Europe, positioning it as a revolutionary alternative to traditional alcoholic drinks. Designed to offer the same social benefits of alcohol without the associated negative health impacts, Clearmind’s MEAI-based beverages are poised to reshape the industry. The engagement between Clearmind and JS First focuses on several key areas:
Comprehensive Research: JS First will conduct thorough research on manufacturing and licensing rights for Clearmind’s MEAI-based beverages across various foreign markets.
Manufacturing Partnerships: Identifying and securing high-quality manufacturing partners in multiple countries is a priority. This step is crucial to ensure that the product meets international standards and can be produced at scale.
Global Distribution: Establishing relationships with distributors across the globe, including regions such as the U.S., Europe, Africa, and Southeast Asia, will facilitate widespread market penetration.
Dr. Adi Zuloff-Shani, CEO of Clearmind Medicine Inc., expressed excitement about the partnership, stating, “We are excited to partner with JS First, whose expertise and extensive network in the manufacturing and distribution sectors will be invaluable as we expand our global footprint. This collaboration is a crucial step towards making our novel alcohol replacement beverages available to consumers worldwide.”
Market Potential and Forecast
According to a report by IWSR, the leader in global beverage alcohol data and insights, the no- and low-alcohol consumption across the world’s leading 10 no/low markets, which account for approximately 70% of global no/low-alcohol volumes, grew by 5% in volume in 2023. The market is now valued at over $13 billion. The no/low alcohol category is forecast to grow at a volume CAGR of 6% between 2023 and 2027. This growth showcases a promising future for Clearmind's MEAI-based beverages as consumer preferences shift towards healthier alternatives.
Clearmind is a clinical-stage psychedelic pharmaceutical biotech company focused on discovering and developing novel psychedelic-derived therapeutics to address widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and commercialize them as regulated medicines, foods, or supplements. The Company's intellectual portfolio currently consists of eighteen patent families, including 28 granted patents. Clearmind intends to seek additional patents for its compounds whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.
Shares of Clearmind are listed for trading on Nasdaq under the symbol "CMND" and on the Frankfurt Stock Exchange under the symbol “CWY0.”
Clearmind’s partnership with JS First represents a pivotal moment in the company’s history. By leveraging JS First’s expertise, Clearmind aims to bring its innovative MEAI-based alcohol substitute beverages to a global audience. This move aligns with the broader industry trend towards healthier, non-alcoholic options and positions Clearmind as a leader in the evolving beverage market. As the company moves forward, it will be essential to monitor the development of manufacturing and distribution networks, regulatory approvals in different regions, and consumer acceptance of the new product. The successful execution of these strategies will determine Clearmind's ability to capture market share in the burgeoning no/low alcohol sector.
Clearmind Medicine Inc.'s engagement with JS First is a jump towards international expansion and solidifies its position in the non-alcoholic beverage market. With a focus on innovative, healthy alternatives to traditional alcohol, Clearmind is well-positioned to meet the growing demand for no/low alcohol products globally.
Disclaimer: This article is intended for informational purposes only. It does not constitute investment, medical, or professional advice. Please consult with a qualified professional before making any decisions related to investments, health, or other professional matters.
Real-time information is available daily at https://stockregion.net