Israel-Based Clearmind Medicine Strengthening IP Portfolio with Three Provisional Patent Applications in the US
February 15 2023 - 8:30AM
Clearmind Medicine Inc. (NASDAQ: CMND) (CSE: CMND), (FSE: CWY)
(“Clearmind” or “the Company"), a biotech company focused on
discovery and development of novel psychedelic-derived therapeutics
to solve major under-treated health problems, today announced that
it has filed three provisional patent applications with the United
States Patent and Trademark Office (USPTO) as part of its ongoing
collaboration with pharmaceutical company SciSparc Ltd. (Nasdaq:
SPRC) ("SciSparc").
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™.
SciSparc is a specialty clinical-stage pharmaceutical company
focusing on the development of therapies to treat disorders of the
central nervous system.
These new patent applications demonstrate Clearmind’s corporate
strategy to broaden the therapeutic psychedelic toolbox for
patients with mental health disorders waiting for transformative
medicines by developing treatments that potentially may offer
synergy, increased efficacy, and safety while reducing cost.
Clearmind has a broad IP footprint in the psychedelic space with
23 patents in seven patent families, nine of which have been
granted in major jurisdictions like the US, Europe, China, and
India. The company has already filed patent applications for the
combination of Clearmind's MEAI with SciSparc's PEA compound for
treating alcohol use disorder, cocaine addiction and obesity and
its related metabolic disorders.
“We continue to expand our work with SciSparc in an effort to
expand the mental health therapy toolbox so we can offer patients
safer and more effective treatments," said Clearmind's CEO Dr. Adi
Zuloff-Shani, PhD. “Previous studies we have performed with MEAI
and PEA suggested that combining the two allowed us to reduce doses
of MEAI while maintaining efficacy levels.”
"The new patent applications aim to utilize psychedelic
substances that have shown positive clinical results and to combine
them with CannAmide, to potentially offer a treatment that is more
effective, safer, and at lower costs. This strategy aligns with the
company's vision to bring patients the newest, most effective
treatments while maintaining a high safety profile and a strong IP
position to enhance commercial viability."
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.
Shares of Clearmind are listed for trading on Nasdaq and the
Canadian Securities Exchange under the symbol "CMND" and the
Frankfurt Stock Exchange under the symbol “CWY.”
For further information
visit: https://www.clearmindmedicine.com or contact:
Investor Relations
invest@clearmindmedicine.com
Telephone: (604) 260-1566
General Inquiries
Info@Clearmindmedicine.com
www.Clearmindmedicine.com
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 (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 autism spectrum disorder and status epilepticus.
FORWARD-LOOKING STATEMENTS:
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act and
other securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. Forward-looking statements are not
historical facts, and are based upon management’s current
expectations, beliefs and projections, many of which, by their
nature, are inherently uncertain. Such expectations, beliefs and
projections are expressed in good faith. However, there can be no
assurance that management’s expectations, beliefs and projections
will be achieved, and actual results may differ materially from
what is expressed in or indicated by the forward-looking
statements. In addition, we cannot assure that any patent will
issue as a result of a pending patent application or, if issued,
whether it will issue in a form that will be advantageous to us.
Forward-looking statements are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in the forward-looking statements. For a more
detailed description of the risks and uncertainties affecting the
Company, reference is made to the Company’s reports filed from time
to time with the Securities and Exchange Commission (“SEC”),
including, but not limited to, the risks detailed in the Company’s
annual report on Form 20-F filed with the SEC on February 6, 2023.
Forward-looking statements speak only as of the date the statements
are made. The Company assumes no obligation to update
forward-looking statements to reflect actual results, subsequent
events or circumstances, changes in assumptions or changes in other
factors affecting forward-looking information except to the extent
required by applicable securities laws. If the Company does update
one or more forward-looking statements, no inference should be
drawn that the Company will make additional updates with respect
thereto or with respect to other forward-looking statements.
References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Clearmind is not
responsible for the contents of third-party websites.
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