SciSparc-Clearmind Medicine Collaboration Announces the Publication of European Patent Application for Binge Behavior Psychedelic Combination Treatment

Rhea-AI Summary

SciSparc (Nasdaq: SPRC) and Clearmind Medicine Inc. (Nasdaq: CMND) have announced the publication of a European patent application for a novel combination therapy treatment. The patent, filed by Clearmind, covers the combination of MEAI and N-Acylethanolamines for treating various binge behaviors, including alcohol consumption, eating, tobacco use, shopping, and sexual conduct.

The collaboration between the two companies focuses on developing innovative therapies combining psychedelic molecules with N-acylethanolamines, including Palmitoylethanolamide. To date, thirteen patents related to this collaboration have been filed by Clearmind across multiple global jurisdictions, including the United States.

Positive

• Patent portfolio expansion with new European patent application
• Thirteen patents filed across multiple global jurisdictions
• Potential therapeutic applications across multiple binge behavior conditions

Negative

• Early-stage development with no immediate revenue potential
• Clinical validation of the combination therapy still pending

Insights

Patent Law Expert

The publication of a European patent application for the MEAI and N-Acylethanolamines combination therapy represents a strategic IP expansion in the psychedelics space. The broad territorial coverage across Europe, combined with existing US filings, strengthens the commercial potential of this technology. However, it's important to note that this is just a patent application publication, not a granted patent. The thirteen total patent applications filed globally build a substantial IP portfolio, but the path to patent grants typically takes 3-5 years with no guarantee of approval. The broad scope covering multiple binge behaviors (alcohol, eating, tobacco, shopping and sexual conduct) could face examination challenges under European patent law's unity of invention requirements.

Biotech Analyst

The combination of MEAI (a psychedelic compound) with N-Acylethanolamines, including Palmitoylethanolamide, represents an innovative approach in treating addiction and compulsive behaviors. This therapeutic strategy could potentially address multiple billion-dollar markets, from alcohol use disorder to eating disorders. The collaboration between SciSparc and Clearmind demonstrates a synergistic approach, combining SciSparc's expertise in CNS disorders with Clearmind's psychedelic research capabilities. However, investors should understand that this is still in early stages - patent applications don't guarantee market success and significant clinical trials would be needed to prove efficacy and safety. For a $4.3M market cap company like SciSparc, this represents a high-risk, high-reward opportunity in the emerging psychedelics space.

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

FAQ

What is the new European patent application for SPRC and Clearmind's combination therapy?

The patent application covers a combination therapy of MEAI and N-Acylethanolamines for treating various binge behaviors, including alcohol, eating, tobacco, shopping, and sexual conduct.

How many patents has SPRC's collaboration with Clearmind generated?

The collaboration has resulted in thirteen patents filed by Clearmind across multiple global jurisdictions, including the United States.

What specific conditions does SPRC's new patent-pending treatment target?

The treatment targets various binge behaviors, including alcohol consumption, eating disorders, tobacco consumption, compulsive shopping, and sexual conduct issues.

What compounds are included in SPRC's combination therapy patent application?

The combination therapy includes MEAI (a psychedelic molecule) and N-Acylethanolamines, including Palmitoylethanolamide.