SciSparc Announces U.S. Patent Application for Treating Metabolic Syndrome and Weight Loss

Rhea-AI Summary

SciSparc (Nasdaq: SPRC) has announced the submission of a new patent application to the USPTO for a novel composition combining Palmitoylethanolamide (PEA), the active ingredient in their CannAmide™ product, with Clearmind Medicine's MEAI compound. This innovative formulation aims to treat metabolic syndrome and obesity.

The patent application is part of an ongoing collaboration with Clearmind Medicine Inc. (Nasdaq: CMND) and was developed in conjunction with Professor Joseph Tam from the Hebrew University. This marks the thirteenth patent application filed under this partnership, targeting various disorders including alcohol use disorder and cocaine addiction.

The obesity treatment market, valued at $15 billion in 2022, is expected to grow at a 10.0% CAGR. With obesity affecting 41.9% of U.S. adults aged 20 and over, this new treatment could address a significant health concern and market opportunity.

Positive

• Patent application for novel obesity and metabolic syndrome treatment
• Collaboration with Clearmind Medicine and Hebrew University
• Potential entry into $15 billion obesity treatment market with 10% CAGR
• Thirteenth patent application in ongoing research partnership

Negative

• None.

Medical Research Analyst

SciSparc's patent application for a novel compound targeting metabolic syndrome and obesity highlights a potentially transformative approach in a high-prevalence health issue in the U.S. The combination of Palmitoylethanolamide (PEA) with Clearmind's MEAI compound leverages the therapeutic potential of both components. PEA is known for its anti-inflammatory and analgesic properties, while MEAI, a psychedelic-derived compound, is being researched for its efficacy in treating addiction and metabolic disorders.

What stands out is the innovative approach of combining these compounds to address obesity, a condition affecting nearly 42% of U.S. adults. This strategy not only broadens the therapeutic spectrum but also aligns with the growing trend of using novel combinations to tackle complex health issues. Investors should note the high growth potential in the obesity treatment market, projected to grow at a 10% CAGR. However, it is essential to consider the regulatory hurdles and the time required for clinical trials and FDA approval before commercialization. The uniqueness of this patent application lies in its collaborative nature, leveraging combined expertise to address a significant health concern.

Market Research Analyst

The submission of this patent application by SciSparc indicates a strategic positioning in the rapidly expanding obesity treatment market. According to Emergen Research, this market was valued at $15 billion in 2022, with projections for robust growth. This filing is important as it adds to their intellectual property portfolio, enhancing the company’s market positioning and potentially offering a competitive edge if the patent is granted.

From an investment perspective, such developments could lead to increased investor confidence and potentially a positive impact on share prices, given the market's growth expectations. However, potential investors should also weigh the risks associated with drug development timelines and the possibility of competing products emerging during this period. The synergy with Clearmind, along with the involvement of academic expertise from Hebrew University, underscores a multi-faceted approach to innovation which could be beneficial in long-term strategic growth.

TEL AVIV, Israel, July 16, 2024 (GLOBE NEWSWIRE) -- 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, announced that an additional patent application with the United States Patent and Trademark Office (“USPTO”) was submitted as part of its ongoing collaboration with Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) (“Clearmind"), a clinical-stage biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems and invented with Professor Joseph Tam from the Hebrew University’s technology transfer company, Yissum. The patent application is for the novel proprietary composition of Palmitoylethanolamide (“PEA”), the active ingredient of SciSparc’s proprietary CannAmide™ with Clearmind’s innovative MEAI compound (5-methoxy-2-aminoindane) for treating metabolic syndrome and obesity.

According to data collected by the Centers for Disease Control and Prevention from the period 2017-2020, the prevalence of obesity in the United States of adults aged 20 and over was 41.9%.

According to Emergen Research, the global obesity treatment market size was $15 billion in 2022 and is expected to grow at a compound annual growth rate of 10.0% during the forecast period. Rising prevalence of obesity and technological advancements in weight loss equipment are key factors driving market revenue growth.

Overall, as part of this collaboration, twelve other patent applications have been filed by Clearmind with the USPTO for various compositions, including the proprietary 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 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 the Amazon.com 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 the expected growth of the global obesity treatment market. 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. 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 April 1, 2024, 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

FAQ

What is the purpose of SciSparc's new patent application?

SciSparc's new patent application is for a novel composition combining PEA and MEAI to treat metabolic syndrome and obesity.

Who is SciSparc collaborating with for this patent application?

SciSparc is collaborating with Clearmind Medicine Inc. and Professor Joseph Tam from the Hebrew University for this patent application.

What is the current size of the obesity treatment market according to the PR?

According to the press release, the global obesity treatment market size was $15 billion in 2022.

What is the expected growth rate of the obesity treatment market?

The obesity treatment market is expected to grow at a compound annual growth rate (CAGR) of 10.0% during the forecast period.

How many patent applications has SciSparc (SPRC) filed in collaboration with Clearmind Medicine?

SciSparc and Clearmind Medicine have filed a total of thirteen patent applications as part of their collaboration.