SciSparc and Clearmind Reveal Three Unique Combinations of Future Psychedelic-Based Compounds
February 22 2023 - 8:00AM
SciSparc Ltd. (Nasdaq: SPRC) (“Company” or “SciSparc”), 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, Clearmind has filed
three provisional patent applications with the United States Patent
and Trademark Office (USPTO), for unique combinations of future
psychedelic-based compounds.
The patent applications refer to novel proprietary combinations
of 3,4 Methylenedioxymethamphetamine (MDMA), Ibogaine and Ketamine
each with SciSparc's Palmitoylethanolamide (PEA), the active
ingredient of its proprietary CannAmide™.
Overall, as part of this collaboration, six other patent
applications have been filed by Clearmind with the USPTO for
various combinations, three of them 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, and recently for novel
proprietary combinations of lysergic acid diethylamide (“LSD”),
psilocybin, and N,N-dimethyltryptamine (“DMT”) and SciSparc’s PEA,
the active ingredient of its proprietary CannAmide™.
As part of the collaboration agreement, any assets generated
from the collaboration will belong to both companies.
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 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 13
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.”
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, SciSparc is using
forward-looking statements when it discusses its future
psychedelic-based compounds. Historic results of scientific
research and clinical and preclinical trials do not guarantee that
the conclusions of future research or trials will suggest identical
or even similar conclusions. Because such statements deal with
future events and are based on SciSparc’s current expectations,
they are subject to various risks and uncertainties and actual
results, performance or achievements of SciSparc could differ
materially from those described in or implied by the statements in
this press release. 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 28, 2022, 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: +972-3-6167055
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