Clearmind Medicine Announces Submission of US Patent Application for Treating Metabolic Syndrome and Weight-loss
July 16 2024 - 5:03AM
Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) (“Clearmind” or
the "Company"), a clinical-stage biotech company focused on
discovery and development of novel psychedelic-derived therapeutics
to solve major under-treated health problems, announced that it has
submitted an additional patent application with the United States
Patent and Trademark Office (“USPTO”), as part of its ongoing
collaborations with SciSparc Ltd. (Nasdaq: SPRC) (“SciSparc”), a
specialty clinical-stage pharmaceutical company focusing on the
development of therapies to treat disorders of the central nervous
system, and with invented with Prof. Joseph Tam from the Hebrew
University’s technology transfer company, Yissum.
The patent application refers to the novel proprietary
composition of Clearmind’s MEAI compound (5-methoxy-2-aminoindane)
with Palmitoylethanolamide (“PEA”), the active ingredient of
SciSparc’s proprietary CannAmide™, for treating metabolic syndrome
and obesity.
According to the 2017-2020 data from the National Health and
Nutrition Examination Survey (NHANES) database, the Centers for
Disease Control and Prevention (CDC) reported that among adults
aged 20 and over, the prevalence of obesity was 41.9%.
According to Emergen Research, the global obesity treatment
market size was valued at $15 billion in 2022 and is expected to
register a rapid revenue CAGR of 10.0% during the forecast period
of 2023 to 2032. Rising prevalence of obesity and technological
advancements in weight loss equipment are key factors driving
market revenue growth.
Overall, as part of the collaboration with SciSparc, twelve
other patent applications have been filed by Clearmind with the
USPTO for various proprietary compositions, including the
composition of SciSparc’s PEA with Clearmind’s MEAI compound for
the treatments of alcohol use disorder, cocaine addiction and
obesity and its related metabolic disorders.
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
eighteen patent families including 28 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 or contact:
Investor Relations invest@clearmindmedicine.com
Telephone: (604) 260-1566 US: CMND@crescendo-ir.com
General Inquiries
Info@Clearmindmedicine.com
www.Clearmindmedicine.com
About Yissum:
Yissum is the technology transfer company of the Hebrew
University of Jerusalem. Founded in 1964, it serves as a bridge
between cutting-edge academic research and a global community of
entrepreneurs, investors, and industry. Yissum’s mission is to
benefit society by converting extraordinary innovations and
transformational technologies into commercial solutions that
address our most urgent global challenges. Yissum has registered
over 11,500 patents globally, licensed over 1,140
technologies and has spun out more than 261 companies. Yissum’s
business partners span the globe.
For further information please visit www.yissum.co.il.
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. 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. 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 for the
fiscal year ended October 31, 2023 filed with the SEC.
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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