SciSparc Ltd. (Nasdaq: SPRC), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, announced today that as part of its ongoing collaboration with Clearmind Medicine Inc. (Nasdaq: CMND) (CSE: CMND), (FSE: CWY) (“Clearmind”), a biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated mental health problems, three provisional patent applications were filed by Clearmind with the United States Patent and Trademark Office (“USPTO”).
The patent applications refer to novel proprietary combinations of lysergic acid diethylamide (“LSD”), psilocybin, and N,N-dimethyltryptamine (“DMT”) and SciSparc’s Palmitoylethanolamide (“PEA”), the active ingredient of its proprietary CannAmide™.
Under this collaboration, three other patent applications have been filed by Clearmind with the USPTO for the combination of SciSparc’s PEA with Clearmind’s MEAI compound (5-methoxy-2-aminoindane) for the treatment of alcohol use disorder, treatment of cocaine addiction and treatment of obesity and its related metabolic disorders.
“These new patent applications continue to support our findings of the major role CannAmideTM, our proprietary PEA formulation, plays in SciSparc’s various proprietary combination treatments. All our clinical and pre-clinical studies performed to date, in numerous diseases and conditions, indicated CannAmide™ ability to reduce doses while maintaining therapeutic efficacy and while increasing safety. We have great confidence in our collaboration with Clearmind and believe that together we can maximize the therapeutic effect of our products, potentially offering additional solutions for mental health problems with unmet needs that have limited effective solutions, if at all,” continued Mr. Adler.
Oz Adler, Chief Executive Officer of SciSparc
About SciSparc Ltd.
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 CBD: SCI-110 for the treatment of Tourette Syndrome, for the treatment of Alzheimer’s disease and agitation; SCI-160 for the treatment of pain; and SCI-210 for the treatment of ASD and status epilepticus. The Company also has a wholly-owned subsidiary whose business focusses on the sale of hemp-based products on the Amazon.com marketplace.
About Clearmind Medicine Inc.
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.
The company’s intellectual portfolio currently consists of seven patent families. 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.