SciSparc and Clearmind announce a European patent application for a combination therapy targeting binge behaviors.
Quiver AI Summary
SciSparc Ltd., a pharmaceutical company focused on central nervous system disorders, has announced a collaboration with Clearmind Medicine Inc., which specializes in psychedelic-derived therapeutics for mental health issues. This partnership has resulted in the submission of a European patent application by Clearmind for a combination therapy using MEAI and N-Acylethanolamines aimed at treating binge behaviors like alcohol and food consumption. To date, thirteen related patents have been filed globally. SciSparc is also developing various drugs based on cannabinoids for conditions such as Tourette Syndrome and Alzheimer's disease. Clearmind holds a strong patent portfolio and seeks to expand its intellectual property as it develops innovative therapeutic compounds.
Potential Positives
- Announcement of a European patent application related to innovative therapies in collaboration with Clearmind Medicine, potentially enhancing the company's intellectual property portfolio.
- Collaboration focuses on researching new combination therapies that could address significant mental health challenges, which may lead to valuable new product offerings.
- Thirteen patents filed in multiple jurisdictions, indicating active innovation and research efforts that may strengthen the company's market position.
Potential Negatives
- The announcement lacks specific details regarding the progress or results of the research collaboration with Clearmind, which may raise concerns about transparency and the actual effectiveness of the therapies being developed.
- The press release heavily focuses on Clearmind's patent filings rather than on any significant advancements or achievements by SciSparc, potentially indicating a lack of substantial developments within SciSparc itself.
- There is a notable emphasis on forward-looking statements, which are inherently uncertain and may lead to skepticism among investors regarding the company's future prospects and the viability of its drug development programs.
FAQ
What is the new European patent application about?
The European patent application covers an innovative combination therapy of MEAI and N-Acylethanolamines, targeting binge behaviors like alcohol consumption and shopping.
Who is SciSparc collaborating with on this research?
SciSparc is collaborating with Clearmind Medicine Inc. to develop innovative combination therapies integrating psychedelic molecules and N-acylethanolamines.
How many patents have been filed under this collaboration?
Thirteen patents related to this collaboration have been filed by Clearmind in the United States and several other global jurisdictions.
What conditions are SciSparc's drug development programs targeting?
SciSparc's drug development programs focus on conditions like Tourette Syndrome, Alzheimer's disease agitation, autism, and status epilepticus.
Where can I find more information about Clearmind Medicine Inc.?
More information about Clearmind Medicine Inc. can be found on their website at https://www.clearmindmedicine.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SPRC Hedge Fund Activity
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Full Release
TEL AVIV, Israel, Jan. 06, 2025 (GLOBE NEWSWIRE) -- 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 as part of its ongoing collaboration with Clearmind Medicine Inc. (“Clearmind”) (Nasdaq: CMND) (FSE: CWY0), a biotechnology company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated mental health problems, the publication of a European patent application submitted by Clearmind under the European Patent Office for innovative combination therapy of MEAI and N-Acylethanolamines, to binge behavior including alcohol consumption, eating, tobacco consumption, shopping and sexual conduct.
Under this collaboration, SciSparc and Clearmind are researching innovative combination therapies that integrate psychedelic molecules with the N-acylethanolamines family, including Palmitoylethanolamide. To date, thirteen patents related to this collaboration have been filed by Clearmind in the United States as well as in several other global jurisdictions.
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: SCI-110 for the treatment of Tourette Syndrome, for the treatment of Alzheimer's disease and agitation; and SCI-210 for the treatment of autism 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 the
Amazon.com
Marketplace.
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 nineteen patent families including 31 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.”
For further information visit:
https://www.clearmindmedicine.com
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 the potential benefits and advantages of SciSparc’s Clearmind’s products. 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 1, 2024, and in subsequent filings with the SEC. 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
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