SciSparc-Clearmind Medicine Collaboration Leads to Publication of International Patent Application for Innovative MDMA-Based Combination Treatment
September 06 2024 - 7:55AM
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 as part of its ongoing
collaboration with Clearmind Medicine Inc. (“Clearmind”) (Nasdaq:
CMND) (CSE: CMND) (FSE: CWY0), a biotechnology company focused on
discovery and development of novel psychedelic-derived therapeutics
to solve major under-treated mental health problems, an
international patent application under the Patent Cooperation
Treaty has been published for the innovative combination of
3,4-Methylenedioxymethamphetamine (MDMA) with N-Acylethanolamines.
As part of their collaboration, SciSparc and Clearmind are
researching innovative combination therapies that combine
psychedelic molecules with the N-Acylethanolamines family,
including Palmitoylethanolamide (PEA). To date, thirteen patents
related to this collaboration have been filed by Clearmind with the
U.S. Patent and Trademark Office, as well as in several other
global jurisdictions.
“The great importance of the cooperation with Clearmind lies in
our unceasing attempts to offer effective and safe treatments and
today's announcement is another demonstration of this methodology,
as we believe that our combined approach may address some of the
U.S. Food & Drug Administration’s concerns associated with MDMA
safety,” said Oz Adler, Chief Executive Officer of SciSparc. “By
integrating MDMA with N-Acylethanolamines like PEA, we aim to
enhance both the safety and therapeutic potential of these
treatments. This combination offers a promising path forward in the
treatment of mental health disorders and addictions, providing an
opportunity to overcome regulatory barriers and unlock the full
potential of MDMA in clinical settings.”
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 seed oil-based products on
the Amazon Marketplace.
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 29 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.”
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 it discusses its belief that the patent publication
represents the potential of the collaboration between Clearmind and
SciSparc to offer effective and safe treatments, that the
collaboration approach of Clearmind and SciSparc could address the
U.S. Food & Drug Administration’s concerns associated with MDMA
safety, that the Company aims to enhance the safety and therapeutic
potential of its treatments, and that this combination offers a
promising path forward in the treatment of mental health disorders
and addictions, providing an opportunity to overcome regulatory
barriers and unlock the full potential of MDMA in clinical
settings. 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 1, 2024, 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 3-761-7108
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