Vancouver, Canada, Aug. 29, 2024 (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 the publication of its patent application under the international Patent Cooperation Treaty (“PCT”) for innovative combinations of Ketamine and N-Acylethanolamines.
The patent application was filed as a result of the Company’s continuous collaboration with SciSparc Ltd. (Nasdaq: SPRC) (“SciSparc”), a specialized pharmaceutical company in the clinical trial phase, dedicated to creating treatments for central nervous system disorders.
As part of the collaboration, the two companies are researching combination therapies that integrate SciSparc’s Palmitoylethanolamide (“PEA”) with Clearmind’s innovative psychedelic molecule, 5-methoxy-2-aminoindan (MEAI), aimed at treating addictions, promoting weight loss and addressing mental health disorders. Furthermore, the two companies are jointly exploring new treatments based on different psychedelic molecules and PEA. To date, thirteen patents related to this collaboration have been filled with the U.S. Patent and Trademark Office, as well as several other global jurisdictions.
In 2019, the U.S. Food & Drug Administration (the “FDA”) approved a ketamine derivative as a nasal spray medication for use in adult patients. It is specifically intended to treat depression in patients that have not responded to other treatments and to alleviate depressive symptoms in individuals with major depressive disorder (MDD) who are experiencing suicidal thoughts or exhibiting suicidal behavior.
The approved treatment comes with strict usage guidelines. It must be administered only at certified medical facilities and used alongside an antidepressant medication. After receiving a dose, patients are required to remain at the facility for a two-hour observation period. This allows healthcare providers to monitor for any potentially serious side effects that may occur.
Dr. Adi Zuloff-Shani, CEO of Clearmind, commented, “Through our collaboration with SciSparc, and following extensive research conducted by their team, we have discovered that combining PEA with various different compounds has the potential to reduce treatment doses while maintaining effectiveness and minimizing side effects. Ketamine was approved by the FDA for use under close supervision due to its associated side effects, including the risk of abuse and psychological as well as physical dependence. Our ultimate goal is to provide patients with safe and effective treatments that offer t therapeutic benefits, while minimizing adverse effects. We believe that the collaboration with SciSparc could lead to such solutions.”
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.”
SciSparc Ltd. (SPRC) 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 Amazon.com Marketplace.