Clearmind Medicine Announces Publication of its Patent Application for Innovative Ketamine-Based Combination Treatment
August 29 2024 - 3:25PM
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 the
publication of its patent application under the international
Patent Cooperation Treaty (“PCT”) for innovative combinations of
Ketamine and N-Acylethanolamines.
The patent application was filed as a result of the Company's
continuous collaboration with SciSparc Ltd. (Nasdaq: SPRC)
(“SciSparc”), a specialized pharmaceutical company in the clinical
trial phase, dedicated to creating treatments for central nervous
system disorders.
As part of the collaboration, the two companies are researching
combination therapies that integrate SciSparc’s
Palmitoylethanolamide (“PEA”) with Clearmind’s innovative
psychedelic molecule, 5-methoxy-2-aminoindan (MEAI), aimed at
treating addictions, promoting weight loss and addressing mental
health disorders. Furthermore, the two companies are jointly
exploring new treatments based on different psychedelic molecules
and PEA. To date, thirteen patents related to this collaboration
have been filled with the U.S. Patent and Trademark Office, as well
as several other global jurisdictions.
In 2019, the U.S. Food & Drug Administration (the “FDA”)
approved a ketamine derivative as a nasal spray medication for use
in adult patients. It is specifically intended to treat depression
in patients that have not responded to other treatments and to
alleviate depressive symptoms in individuals with major depressive
disorder (MDD) who are experiencing suicidal thoughts or exhibiting
suicidal behavior.
The approved treatment comes with strict usage guidelines. It
must be administered only at certified medical facilities and used
alongside an antidepressant medication. After receiving a dose,
patients are required to remain at the facility for a two-hour
observation period. This allows healthcare providers to monitor for
any potentially serious side effects that may occur.
Dr. Adi Zuloff-Shani, CEO of Clearmind, commented, "Through our
collaboration with SciSparc, and following extensive research
conducted by their team, we have discovered that combining PEA with
various different compounds has the potential to reduce treatment
doses while maintaining effectiveness and minimizing side effects.
Ketamine was approved by the FDA for use under close supervision
due to its associated side effects, including the risk of abuse and
psychological as well as physical dependence. Our ultimate goal is
to provide patients with safe and effective treatments that offer t
therapeutic benefits, while minimizing adverse effects. We believe
that the collaboration with SciSparc could lead to such
solutions.”
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 29 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.”
About SciSparc Ltd.
SciSparc Ltd. (SPRC) 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.
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
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 ultimate goal to
offer patients safe and effective treatments that will allow them
to benefit from the therapeutic effects, while minimizing their
adverse effects, and its belief that the collaboration with
SciSparc may provide such solutions. 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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