Latest news with #MEAI
Yahoo
12-05-2025
- Business
- Yahoo
Clearmind Medicine Announces Publication of European Patent for Psychedelic-Based Combination Therapy for Cocaine Addiction
Patent publication in Europe strengthens Clearmind's global IP position and advances strategic focus on addiction treatment Vancouver, Canada, May 12, 2025 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) ('Clearmind' or the "Company"), a clinical-stage biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, announced today the official publication of a European patent application by the European Patent Office (EPO). This patent, numbered EP 4531826, covers Clearmind's proprietary psychedelic-based combination therapy, which includes MEAI (5-methoxy-2-aminoindane) and certain N-Acylethanolamines, such as Palmitoylethanolamide (PEA), for the treatment of cocaine addiction. The application further strengthens Clearmind's expanding global intellectual property portfolio and complements similar patent filings in other key markets. The patent is based on preclinical trial results led by Professor Gal Yadid and his team at the Gonda Multidisciplinary Brain Research Center at Bar-Ilan University in Israel. These studies build upon earlier experiments in which animals treated with MEAI exhibited a significant reduction in cocaine-induced cravings. Further research was conducted in rats to assess whether MEAI's effects on drug-seeking behavior extended to natural rewards, given that reward-based reinforcement is a fundamental survival mechanism across species. The study produced positive results, demonstrating that while MEAI reduced cocaine-seeking behavior, it did not impair the rats' response to natural rewards such as sucrose. This finding suggests that MEAI's impact on drug cravings is not tied to the general reward system, but is specifically targeted at drug-related compulsions. 'This European patent publication marks an important milestone in Clearmind's strategy to safeguard the intellectual property behind out innovative addiction treatments,' said Adi Zuloff-Shani, CEO of Clearmind. 'As part of our broader mission to develop effective, non-addictive therapies for substance use disorders, strengthening our IP across global jurisdictions is key to ensuring long-term commercial and scientific leadership.' The patent application is part of Clearmind's ongoing collaboration with SciSparc Ltd. (Nasdaq: SPRC), with the aim to explore the combined potential of MEAI and SciSparc's PEA-based technologies for treating various central nervous system disorders. About Clearmind Medicine Inc. Clearmind is a clinical-stage psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods or supplements. The Company's intellectual portfolio currently consists of nineteen patent families including 31 granted patents. The Company 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 the Frankfurt Stock Exchange under the symbol 'CWY0.' For further information visit: or contact: Investor Relationsinvest@ Telephone: (604) 260-1566US: CMND@ General InquiriesInfo@ Forward-Looking Statements: This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates' and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses mission to develop effective, non-addictive therapies for substance use disorders and its long-term commercial and scientific leadership. The Company cannot assure that any patent will issue as a result of a pending patent application or, if issued, whether it will issue in a form that will be advantageous to the Company. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission ('SEC'), including, but not limited to, the risks detailed in the Company's annual report on Form 20-F for the fiscal year ended October 31, 2024 and subsequent filings with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Clearmind is not responsible for the contents of third-party in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
SciSparc-Clearmind Collaboration Leads to Publication of European Patent for Psychedelic-Based Combination Therapy for Cocaine Addiction
TEL AVIV, Israel, May 12, 2025 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) ("Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders and rare diseases of the central nervous system, announced today that its collaboration with Clearmind Medicine Inc. (Nasdaq: CMND) ('Clearmind') has led to the publication of a European patent application by the European Patent Office. The patent application relates to a combination treatment using Clearmind's 5-methoxy-2-aminoindane ('MEAI') and SciSparc's Palmitoylethanolamide for the treatment of cocaine addiction. The patent is based on preclinical trial results led by Professor Gal Yadid and his team at the Gonda Multidisciplinary Brain Research Center at Bar-Ilan University in Israel. These results followed an earlier trial in which animals treated with MEAI exhibited a significant reduction in cocaine-induced craving. Building on these findings, further research assessed whether MEAI's effect on drug-seeking behavior extends to natural rewards, as reward-based reinforcement is a fundamental survival mechanism across species. The study produced positive results, demonstrating that while MEAI reduced cocaine-seeking behavior, it did not impair the rats' response to natural rewards, such as sucrose. This suggests that MEAI's effect on drug craving is not linked to the general reward system but rather specifically targets drug-related compulsions. This latest publication adds to multiple patent applications already filed in the U.S. and other global territories as part of the ongoing SciSparc-Clearmind collaboration. About SciSparc Ltd. (Nasdaq: SPRC): SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. SciSparc's focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company is currently engaged in the following drug development programs based on THC and/or non-psychoactive cannabidiol: SCI-110 for the treatment of Tourette Syndrome, for the treatment of Alzheimer's disease and agitation; and SCI-210 for the treatment of autism and status epilepticus. The Company also owns a controlling interest in a subsidiary whose business focuses on the sale of hemp seeds' oil-based products on the Marketplace. About Clearmind Medicine Inc. (Nasdaq: CMND) (FSE: CWY) Clearmind is a clinical-stage psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods or supplements. Clearmind's intellectual portfolio currently consists of 19 patent families including 31 granted patents. For further information visit: Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward looking statements when discussing the potential effect of MEAI on drug craving . Since such statements deal with future events and are based on SciSparc's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of SciSparc could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in SciSparc's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the 'SEC') on April 24, 2025, and in subsequent filings with the SEC. Except as otherwise required by law, SciSparc disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise. Investor Contact:IR@ +972-3-6167055Sign in to access your portfolio
Associated Press
17-04-2025
- Business
- Associated Press
Clearmind Medicine Receives Notice of Allowance for United States Patent Covering Binge Behavior
Vancouver, Canada, April 17, 2025 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) ('Clearmind' or the 'Company'), a clinical-stage biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, today announced that the United States Patent Office has issued a Notice of Allowance for a patent relating to its MEAI treatment for binge behavior. This new US patent provides additional intellectual property protection for the Company's novel MEAI- based treatment in this indication and further strengthens Clearmind's intellectual property portfolio. Dr. Adi Zuloff-Shani, CEO of Clearmind, commented: 'This Notice of Allowance further strengthens our unique position in the space and growing intellectual property portfolio and reinforces the potential of our robust MEAI program. Securing foundational patent protection is a vital step in supporting our future success and in driving the development of next-generation psychedelic-derived therapeutics with the potential to deliver transformative outcomes for patients.' About Clearmind Medicine Inc. Clearmind is a clinical-stage psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods or supplements. The Company's intellectual portfolio currently consists of nineteen patent families including 31 granted patents. The Company 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 the Frankfurt Stock Exchange under the symbol 'CWY0.' For further information visit: or contact: Investor Relations [email protected] Telephone: (604) 260-1566 US: [email protected] General Inquiries [email protected] Forward-Looking Statements: This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates' and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses how securing foundational patent protection is a vital step in supporting its future success and in driving the development of next-generation psychedelic-derived therapeutics with the potential to deliver transformative outcomes for patients. The Company cannot assure that any patent will issue as a result of a pending patent application or, if issued, whether it will issue in a form that will be advantageous to the Company. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission ('SEC'), including, but not limited to, the risks detailed in the Company's annual report on Form 20-F for the fiscal year ended October 31, 2024 and subsequent filings with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Clearmind is not responsible for the contents of third-party websites.
Yahoo
22-03-2025
- Business
- Yahoo
Psychedelic: Exclusive talk with biotech company Clearmind Medicine
In this edition of 'Psychedelic', The Fly conducted an exclusive interview with Mark Haden, vice president of business development at Clearmind Medicine (CMND), a psychedelic pharmaceutical biotech company focused on development of therapeutics to solve underserved health problems. Here are some highlights: Easily identify stocks' risks and opportunities. Discover stocks' market position with detailed competitor analyses. PSYCHEDELIC PHARMA: Clearmind is a clinical-stage biotech company that aims to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods or supplements. The company has been working on treatments for binge behavior and mental health, including alcohol use disorder, binge eating and depression. 'Think of this space as being two overlapping circles, a Venn diagram,' Haden said. 'There are addiction treatments, like counseling, Alcoholics Anonymous and some pharmaceutical interventions like Antabuse, naltrexone and acamprosate. I ran an addictions treatment program for 28 years and I can assure you that there is relatively low efficacy, the dropout rate is high, and the treatments tend to be very long-term. That's the first circle.' The second circle contains psychedelic treatments, which have generated a huge amount of excitement, he said, but have faced challenges due to the treatments being offered in the context of therapy. 'That means it's expensive, having credentialed people and facility space means high cost,' the VP said. 'MEAI, which is the product that Clearmind is working most proactively with, is different from regular counseling and pharmaceutical interventions. If you think about them as not being very effective, having a high dropout rate and long-term treatment, MEAI is the opposite. We believe that it will prove to be very effective, and it is mildly euphoric, so it is the opposite of Antabuse. It is attractive to take so we believe the dropout rate will be very close to zero. It is also quick and short-acting, so we believe we are well-positioned to compete with existing addiction treatments. We also believe we are well-positioned to compete with psychedelic treatments because MEAI has no therapy, so all the cost of therapy and facilities don't apply.' MEAI: MEAI, or 5-Methoxy-2-aminoindane, is Clearmind's flagship proprietary molecule for the treatment of addiction. The non-hallucinogenic psychoactive molecule has exerted a reduced desire to consume alcoholic beverages with a euphoric alcohol-like experience in recreational use. Pre-clinical trials for MEAI demonstrated a high safety profile in addition to a significant and immediate reduction effect on alcohol consumption. 'You can take MEAI if you are addicted to alcohol and you don't want to stop,' Haden said. 'You can add MEAI to your alcohol and we believe it will result in people drinking less. It can be used as an alcohol additive, or an alcohol substitute and it is mildly euphoric.' He added Clearmind believes if a person drinks MEAI with alcohol, they will consume way less alcohol than they would without MEAI and that is why the company is currently focused on Alcohol Use Disorder. 'It's interesting looking at intellectual property patents, because there are different kinds of patents out there,' the VP said. 'There are patents that I would describe as patent illusions. Any company can put psilocybin in a pill, add a little bit of vitamin C, make it purple and then patent that, but it's not real because some other company can make a psilocybin pill orange and add vitamin D to it. With Clearmind, we have a very strong IP portfolio, 19 patent families and 31 granted patents. These patents are for specific uses of specific molecules widely covering a broad range of things from binge behaviors to eating disorder behaviors to novel alcohol substitution behaviors and they are real patents as opposed to illusions.' CMND-100 TRIAL: Clearmind announced in March that it initiated its Phase I/IIa clinical trial investigating the safety, tolerability and full pharmacokinetic profile of its proprietary MEAI-based oral drug candidate, CMND-100, in AUD patients. The study will also include preliminary efficacy evaluations, examining the drug's potential to reduce alcohol cravings and consumption. IMCA Center in Israel, Yale School of Medicine's Department of Psychiatry and Johns Hopkins University School of Medicine will conduct the trial. 'CMND-100 is the MEAI pill essentially,' Haden said. 'Phase I is safety and Phase IIa is with the target population of alcoholics. The Phase IIa is a randomized, double-blind placebo trial, which is the state-of-the-art process for turning a molecule into a medicine.' DR. GLITTER: In December, the company announced a non-binding term sheet with Dr. Glitter. The two companies are collaborating on the development and commercialization of Clearmind's MEAI-based alcohol substitute and Dr Glitter's proprietary ActivCrystal technology, an oral delivery format that encapsulates active ingredients in crystals designed to be sprinkled on meals. 'Dr. Glitter is a company that has a sparkly product that they put on food,' Haden said. 'It is a sprinkle product, and we reached out to them because we would like to have this experience available to people. If we can move ahead and expand this, then what it can provide us with is a revenue stream by which we can do all our clinical trial research. It also allows people to experience this and for us to gather more data about what people think about this product.' SCHEDULING: Several psychedelics are listed as Schedule I drugs under the Controlled Substances Act and the VP said he expects this to initially create a barrier to widespread acceptance of psychedelics. 'What companies need to do is go through the clinical trial research process, the process of turning a molecule into a medicine, Stage I, II and III,' he said. 'The clinical trial research pathway is very much alive and well.' Haden noted he recently did a search on which lists all clinical trials around the world, for the word 'psychedelic' and results came back for 658 active clinical trials. 'If you search MDMA, ketamine, PCP or whatever else, then you would wind up with many other hits, but for the word psychedelic alone you have 658,' he said. 'What that tells you is there is a massive research interest and some of those are companies that are very interested in turning molecules into medicines for specific conditions. The engine of research is chugging down the track dramatically and eventually when drugs become approved by Health Canada or the FDA and get turned into medicine, then their scheduling will be changed.' ELECTION RESULTS: In this year's U.S. election, Massachusetts voters rejected a ballot measure that proposed decriminalization of psychedelic use for people older than 21 and the VP said he believes the legalization process for psychedelics will be similar to the process for cannabis. 'Cannabis is fully legal all across Canada and that was preceded by a process where some provinces wanted it and some didn't,' he said. 'It was a mixed bag and eventually our federal leadership said we need to do this for the whole country. You see the same thing in the U.S. now, some states have varying degrees of cannabis legalization and some states don't. My crystal ball gazing says sooner or later the United States will fully legalize cannabis. It is a linear process, and some states are more behind than others, which is also completely true for psychedelics.' Haden pointed to Oregon and Colorado as states that currently have legal psychedelic services and treatment centers and said from a public health point of view, the state-by-state differences are actually ideal. 'When you have different laws in different states, you can then look at different outcomes,' he said. 'It is a really good way of doing public health analysis. If you have large populations that have different laws and you can look at hospitalizations and other health indicators in different states, you can come up with some interesting observations of the harms or benefits of psychedelics. Generally, I think that is a good thing and it doesn't stop the overall collective agreement that psychedelics could be very, very useful.' The VP also noted that when cannabis was becoming legalized in the states and in Canada, human rights arguments didn't work in facilitating legalization. ''I have a right to access cannabis, and you shouldn't criminalize me for doing so' was not an argument that worked,' he said. 'What worked as an argument is 'This is a medicine for my child'. When moms started showing up and saying, 'I want this medicine for my child that has seizures' that shifted the opinion. Medicalizing cannabis does promote legalization, and we are medicalizing psychedelics in the same way.' Also in this year's election, Donald Trump was elected president and Haden said Clearmind is optimistic that the administration will be helpful for psychedelic research. 'Trump and his administration are a little hard to predict on all issues,' he said. 'There is a built-in chaos to that question, but nevertheless what we can see is they are generally anti-regulation. That is good for us because it is the regulation, the huge number of steps and the cost that impacts us and slows us down. And Robert F. Kennedy Jr., the secretary of Health and Human Services, has stated that he supports psychedelic therapy and research, so we are optimistic.' AT-HOME TREATMENTS: According to industry sources in the psychedelic space, the demand for at-home treatments should accelerate innovation in non-invasive therapeutic options in 2025 and the VP said MEAI is well-positioned for this demand. 'The difference between at-home and in-clinic treatments is at-home treatments are cheaper,' he said. 'When you are talking about MDMA or psilocybin therapy, what you are talking about is credentialled staff, facilities, heating costs, real estate costs, and reception costs. The moment you take it out of a facility, and you offer it as an at-home service you make it more accessible, but then you must be careful about what you're making accessible.' MEAI is the 'perfect' molecule, Haden stated, because it is not abusable and it can be taken home. 'The idea is that it isn't offered within the context of therapy, it's offered just as a prescription pill that you take when you feel like drinking,' he said. 'You take it with your alcohol or by itself and it doesn't need therapy or medical supervision. It increases accessibility, it's inexpensive and it is available to people in a way that therapeutic interventions wouldn't be.' CHALLENGES: When asked about the largest hurdles facing the psychedelic space, the VP pointed to the cost of clinical trials, the need to train physicians and therapists and insurance coverage for these treatments. 'Clinical trials cost millions and the constant need to be fundraising is a significant barrier,' he said. 'It takes time, energy and effort to do that fundraising. If you look at the companies that are currently doing psychedelic research, they tend not to be big pharma companies that have deep pockets, but independent companies that are focused exclusively on psychedelics. They don't have a lot of other income streams that they can feed into their clinical trial pathway. My belief is that that will change and the large pharma, when they see the success of the smaller companies, will essentially purchase them.' Haden also said physicians and therapists must be knowledgeable about how these treatments work and understand how to prescribe them. 'It's a very, very specific type of therapy,' he said. 'Someone who does cognitive behavioral therapy or family systems therapy, those therapies aren't appropriate for psychedelic therapy. It is a unique skill set where you have to train therapists to do something different. In fact, often they have a lot of unlearning to do so they don't do what they have historically done. That takes time, energy, effort and commitment of therapists who pay for that training to adopt new models of working.' Insurance creates another barrier as insurance companies need to see the treatments and understand the efficacy of them, the VP said, as well as how they tend to be brief but intense therapy. 'They are more expensive initially but then a lot cheaper in the long-run,' he said. 'Insurance companies do need to be able to see the large picture of how psychedelic therapies will help them and reduce their overall costs. That requires some education of the insurance companies.' OPPORTUNITIES: As the psychedelic industry develops and matures, Haden said he expects small psychedelic companies to continue to grow, conduct research and demonstrate effectiveness. 'I believe the FDA will become slowly friendlier and allow more psychedelic applications over the next few years and more psychedelics to be turned into medicine,' he said. 'Health Canada will do the same. It's a process of legitimizing psychedelic research with the regulators. What will happen is, slowly but surely, different molecules will be turned into medicines, small companies will do well financially, they will be taken over by large pharmaceutical companies and then the deep pockets of the pharmaceutical industry can speed up the process dramatically.' Looking at Clearmind specifically, the VP said the company is continuing the track for treating addictions and obsessive-compulsive disorders but is also on track for its alcohol substitution initiative. 'MEAI actually feels good, it is a pleasant experience,' he said. 'Having MEAI in a bottle or a can as a drink that people can reach out for and drink instead of drinking alcohol is another way of thinking about the molecule. We're excited by both tracks, and we are hopeful that these things will become widely available in the not-too-distant future.' OTHER PSYCHEDELIC STOCKS: Publicly-traded companies in the space include Algernon (AGNPF), Allied Corp. (ALID), atai Life Sciences (ATAI), BetterLife (BETRF), Bright Minds Biosciences (DRUG), Clearmind (CMND), Compass Pathways (CMPS), Cybin (CYBN), Entheon Biomedical (ENTBF), Filament Health (FLHLF), GH research (GHRS), Incannex Healthcare (IXHL), Mind Medicine (MNMD), MIRA Pharmaceuticals (MIRA), Mydecine Innovations (MYCOF), NRx Pharmaceuticals (NRXP), Numinus Wellness (NUMIF), Optimi Health (OPTHF), Pasithea Therapeutics (KTTA), PharmAla Biotech (MDXXF), PharmaTher (PHRRF), Psyence Biomedical (PBM), Psyence Group (PSYGF), Quantum BioPharma (QNTM), Relmada Therapeutics (RLMD), Revive Therapeutics (RVVTF), SciSparc (SPRC), Seelos Therapeutics (SEEL), Silo Pharma (SILO) and Synaptogenix (SNPX). Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on CMND: Questions or Comments about the article? Write to editor@ Clearmind Medicine says CMND-100 arrives in the U.S. Psychedelic: atai Life Sciences, NRx report quarterly results Clearmind signs non-binding LOI with Polyrizon for intranasal drug delivery Clearmind Medicine initiates first in human clinical trial with CMND-100 Psychedelic: atai reports dosing of first patient in Phase 2 VLS-01 trial Sign in to access your portfolio
Gulf Business
27-02-2025
- Business
- Gulf Business
New Balance's Stuart Henwood on growth, innovation and fitness fashion
Image: Supplied In this interview with Gulf Business, Stuart Henwood, senior director of New Balance in the Middle East, Africa, and India (MEAI), discusses the brand's impressive $7.8bn growth in 2024, its focus on blending heritage with innovation, and its evolving retail strategy in the region. Henwood also shares insights into New Balance's commitment to community-building, its impact on fashion trends, and the company's plans for continued expansion in the next five years. New Balance saw $7.8bn in global growth in 2024. Beyond the numbers, what's driving this incredible momentum? At New Balance, our growth reflects our commitment to blending heritage with innovation since our onset in 1906. We've stayed true to our roots in craftsmanship while pushing boundaries in performance technology and style. Collaborations with cultural icons, athletes, and designers have allowed us to stay relevant across diverse markets. For instance, partnerships like the one with British rapper Action Bronson and our exclusive sneaker drops with Sun and Sand Sports here in the region for example, have helped keep us relevant and exciting in diverse markets. Beyond products and partnerships, a key driver of our momentum is the vibrant communities we've cultivated through initiatives like the New Balance Run Club (NBRC) under our Run Your Way campaigns. Across the region and globally, our run clubs are offering spaces where people connect over shared goals of fitness, wellness, and personal growth. This strong community engagement, combined with our focus on authenticity and quality, continues to position New Balance as a leader in the industry. From the streets to the runways, 'Dad shoes' have become a style staple. How did New Balance find itself at the heart of this trend? The 'Dad shoe' trend is indicative of how timeless design and comfort can intersect with modern fashion. New Balance has always prioritised functionality and comfort — traits that have become stylish in their own right. The 990 series, originally launched in the 1980s, was designed as a premium running shoe, but its understated design and quality craftsmanship made it a staple beyond athletic circles. Fast forward to today, and you see those same models on fashion runways and in streetwear, embraced by a new generation that values authenticity and heritage. We've leaned into this, collaborating with fashion-forward influencers and brands while staying true to our New Balance DNA. With seven new stores opened in just 24 months — including the Dubai Mall flagship — what's the vision behind New Balance's retail experience in the region? Our retail expansion in the Middle East, particularly with our flagship in Dubai Mall, reflects our ambition to create immersive brand experiences. Each store, especially our latest retail concept, Uncommon Common concept (UCC), is designed to not just highlight our products but to tell our story — from our Boston roots to our global presence while highlighting the makers and origins of each. We want customers to feel the craftsmanship, innovation, and cultural relevance of New Balance the moment they walk in. The MEAI with its diverse, trend-conscious consumer base, is the perfect backdrop for this vision coupled with the regional investment in sport, and New Balance will continue to expand to reach and engage with our consumers. New Balance has opened a new store in Nakheel Mall in February. Image: New Balance As fitness becomes a lifestyle for many, how is New Balance redefining the intersection of sport, wellness, and fashion? Anyone would agree that fitness today isn't confined to gyms or tracks. It's now become a lifestyle that influences how people dress and live. At New Balance, we're committed to designing products that perform on the track but transition seamlessly into everyday life. Our apparel and footwear This philosophy is at the heart of our Run Your Way ethos, which embraces the idea that there's no one-size-fits-all approach to fitness. Whether you're chasing personal bests, running for mental clarity, or simply enjoying an active lifestyle, Run Your Way encourages individuals to define what movement means to them. With the brand eyeing $10bn in revenue, what's next? Where do you see New Balance evolving in the next five years? Reaching $10bn is a financial milestone but it's not only about the numbers, it's about scaling our impact while staying true to who we are and building a sustainable model across multiple platforms and categories. Over the next five years, we'll continue to invest in innovation and community engagement while growing our product ranges. Expanding our owned doors in key markets like the Middle East is a big part of this journey – alongside franchise doors across the MEAI region including Saudi, Kuwait, Qatar, India, Egypt and our latest market entry in Morocco. We're also committed to deepening our relationships with local communities through partnerships and initiatives that reflect the unique cultural landscapes we operate in. Our recent five-year partnership extension with Al Sadd SC and our collaboration with Ooredoo for the Doha Marathon, are just a few examples of how we're strengthening ties across the region. Ultimately, we want Image: New Balance Having been around for over 100 years, how does New Balance continue to stay relevant — especially with younger, trend-conscious audiences? Staying relevant for over a century comes down to a balance of honouring tradition while embracing change. A brand with heritage as opposed to a heritage brand. New Balance has always championed individuality and authenticity, values that resonate deeply with younger audiences today. We also invest heavily in digital engagement, meeting our audiences where they are — whether that's on social platforms or the e-commerce website. At the end of the day, our commitment to quality, innovation, and community ensures that we're not just keeping up with trends but often setting them. Younger generations are looking for authenticity, they are looking for brands they can connect with on a deeper level and not just a product, and as an independent corporation, whose purpose is to create positive change in communities around the world through sports in craftmanship, we can offer much more than just a product or a trend, but also true connection.
