SciSparc and Clearmind Medicine Reflect on Successful Collaboration in 2023 Aiming to Upgrade Wide Range of Psychedelic-Based Treatments
January 04 2024 - 7:18AM
SciSparc Ltd. (Nasdaq: SPRC) ("Company" or "SciSparc"), a
specialty clinical-stage pharmaceutical company focusing on the
development of therapies to treat disorders and rare diseases of
the central nervous system, reflects on the successful
collaboration in 2023 with Clearmind Medicine Inc.
(“Clearmind") (Nasdaq: CMND) (CSE: CMND) (FSE: CWY), a biotech
company focused on the discovery and development of novel
psychedelic-derived therapeutics to solve major under-treated
health problems. Early in 2023, Clearmind filed six provisional
patent applications with the United States Patent and Trademark
Office (USPTO) for unique combinations of future psychedelic-based
compounds, as part of its ongoing collaboration with SciSparc.
The patent applications are for novel proprietary combinations
of lysergic acid diethylamide (LSD), psilocybin,
N,N-dimethyltryptamine (DMT) and Palmitoylethanolamide (PEA) and
novel proprietary combinations of 3,4-Methylenedioxymethamphetamine
(MDMA), Ibogaine, Ketamine, and PEA. PEA is the active ingredient
of SciSparc’s proprietary CannAmide™.
The patent applications represent a commitment by SciSparc and
Clearmind to offer patients safer and more effective treatments
than those available today partly by strengthening their IP
portfolios to broaden the therapeutic psychedelic toolbox for
patients with mental health disorders that require transformative
medicines and by developing treatments that offer synergy, efficacy
and safety, while reducing the total cost.
As part of the collaboration agreement between SciSparc and
Clearmind, originally announced on March 8,2022, any assets
generated from the collaboration shall be jointly owned by SciSparc
and Clearmind.
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 owns a controlling
interest in a subsidiary whose business focuses on the sale of hemp
seeds’ oil-based products on Amazon Marketplace.
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 that SciSparc and Clearmind are
committed to offering patients safer and more effective treatments
than those available today through their patent applications and
that any assets generated from the collaboration between SciSparc
and Clearmind shall be jointly-owned. Historical 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. 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 May 1, 2023, 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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