SciSparc Ltd. and Clearmind Medicine Inc. Collaboration Yields Another Patent Application for their Proprietary Psychedelic Combination to Treat Cocaine Addiction
June 02 2022 - 8:30AM
SciSparc Ltd. (NASDAQ: SPRC), a specialty clinical-stage
pharmaceutical company focusing on the development of therapies to
treat disorders of the central nervous system (the "Company" or
"SciSparc"), today announced that its recently launched
collaboration with Clearmind Medicine Inc. (“Clearmind”) (CSE:
CMND), (OTC: CMNDF), (FSE: CWY0), a biotech company focused on
discovery and development of novel psychedelic-derived therapeutics
to solve major undertreated health problems, resulted in the filing
of a provisional patent application related to treating cocaine
addiction.
The patent application refers to the proprietary
combination of SciSparc's CannAmide™ with Clearmind's MEAI, for
treating cocaine addiction.
In the United States cocaine addiction peaked in
the 1990s, and the current estimates by the National Institute on
Drug Abuse claim at least 1.3 million Americans are addicted to
cocaine. Annually, these users go to the hospital more than 350,000
times and account for 54% of drug-related incarcerations in federal
jails and prisons, according to recent statistics from the U. S.
Department of Justice. In addition, cocaine is either suspected or
confirmed as the cause for nearly 16,000 overdose deaths each year
in the United States. Furthermore, it is at least a contributing
factor in many more deaths, usually from violence, associated
medical conditions or other health impacts of the user’s
lifestyle.
"The continuous successes of our relatively new
collaboration with Clearmind strengthen our belief that combining
our CannAmide™ with Clearmind's novel psychedelic molecule, MEAI,
holds great potential for treating various addictions and
dependency conditions,” commented Oz Adler, SciSparc's Chief
Executive Officer. “Cocaine abuse in the United States is a serious
and growing issue that affects all ages. Despitethe highly
addictive nature of cocaine, a dedicated treatment for this
addiction does not currently exist,which makes the potential for
our treatment even more exciting. In light of the encouraging
results generated from this collaboration and following our first
patent application for binge behavior announced in May, we intend
to continue to strengthen and expand our collaboration with
Clearmind."
About SciSparc (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 (CBD): SCI-110 for the
treatment of Tourette syndrome and for the treatment of Alzheimer's
disease and agitation; SCI-160 for the treatment of pain; and
SCI-210 for the treatment of autism spectrum disorder and status
epilepticus.
About Clearmind (CSE: CMND), (OTC: CMNDF),
(FSE: CWY0)
Clearmind is a 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 four patent families. 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.
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, SciSparc is using
forward-looking statements when it discusses the potential benefits
of CannAmide™ combined with MEAI for treating cocaine abuse and the
intention of SciSparc to expand its collaboration with Clearmind.
Historic results of scientific research and clinical and
preclinical trials do not guarantee that the conclusions of future
research or trials will suggest identical or even similar
conclusions. Because 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 SEC on April [28],
2022, and in subsequent filings with the U.S. Securities and
Exchange Commission. 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@scisparc.com
Tel: +972-3-6167055
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