Clearmind Medicine and SciSparc Reflect on Successful Collaboration in 2023 Aiming to Upgrade Wide Range of Psychedelic- Based Treatments
January 04 2024 - 6:18AM
Clearmind Medicine Inc. (NASDAQ: CMND) (CSE: CMND), (FSE: CWY)
(“Clearmind” or “the company"), a biotech company focused on the
discovery and development of novel psychedelic-derived therapeutics
to solve major under-treated health problems, reflects on the
successful collaboration with SciSparc Ltd. (Nasdaq: SPRC)
("SciSparc") in 2023. Early in 2023, Clearmind filed six
provisional patent applications with the United States Patent and
Trademark Office for unique combinations of future
psychedelic-based compounds. The patent applications were
filed as part of Clearmind’s ongoing collaboration with
SciSparc, a specialty clinical-stage pharmaceutical company
focusing on the development of therapies to treat disorders of the
central nervous system.
The patent applications, refer to novel
proprietary combinations of lysergic acid diethylamide (LSD),
psilocybin, and N,N-dimethyltryptamine (DMT),
3,4-Methylenedioxymethamphetamine (MDMA), Ibogaine, and Ketamine,
each with Palmitoylethanolamide (PEA), the active ingredient of
SciSparc's proprietary CannAmide™.
The patent applications are part of the
company's commitment to offer patients safer and more effective
treatments than those available today partly by strengthening its
IP portfolio to broaden the therapeutic psychedelic toolbox for
patients with mental health disorders that require transformative
medicines, and developing treatments that offer synergy, efficacy
and safety while reducing cost.
Clearmind has a broad IP footprint in the
psychedelic space, with 51 patents in 15 utility patent families,
of which twenty-six are granted patents in major jurisdictions like
the US, Europe, China, and India and twenty-five patent pending
applications internationally.
As part of the collaboration agreement between
Clearmind and SciSparc, originally announced on March 8,2022, any
assets generated from the collaboration shall be jointly owned by
Clearmind and SciSparc .
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 15 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. For example, the Company is
using forward-looking statements when it discusses its commitment
to offer patients safer and more effective treatments than those
available today and the strengthening of its IP portfolio to
broaden the therapeutic psychedelic toolbox for patients with
mental health disorders that require transformative medicines and
to develop treatments that offer synergy, efficacy and safety while
reducing cost. In addition, the Company 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 the Company. 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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