Vancouver, Canada, July 16, 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 that it has submitted an additional patent application with the United States Patent and Trademark Office (“USPTO”), as part of its ongoing collaborations with SciSparc Ltd. (Nasdaq: SPRC) (“SciSparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, and with invented with Prof. Joseph Tam from the Hebrew University’s technology transfer company, Yissum.
The patent application refers to the novel proprietary composition of Clearmind’s MEAI compound (5-methoxy-2-aminoindane) with Palmitoylethanolamide (“PEA”), the active ingredient of SciSparc’s proprietary CannAmide™, for treating metabolic syndrome and obesity.
According to the 2017-2020 data from the National Health and Nutrition Examination Survey (NHANES) database, the Centers for Disease Control and Prevention (CDC) reported that among adults aged 20 and over, the prevalence of obesity was 41.9%.
According to Emergen Research, the global obesity treatment market size was valued at $15 billion in 2022 and is expected to register a rapid revenue CAGR of 10.0% during the forecast period of 2023 to 2032. Rising prevalence of obesity and technological advancements in weight loss equipment are key factors driving market revenue growth.
Overall, as part of the collaboration with SciSparc, twelve other patent applications have been filed by Clearmind with the USPTO for various proprietary compositions, including the composition of SciSparc’s PEA with Clearmind’s MEAI compound for the treatments of alcohol use disorder, cocaine addiction and obesity and its related metabolic 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 eighteen patent families including 28 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.”