SciSparc and Clearmind report progress in obesity treatment

TEL AVIV - SciSparc Ltd. (NASDAQ:SPRC) and Clearmind Medicine Inc. (NASDAQ:CMND) have announced findings from a recent study suggesting their collaborative treatment may effectively combat obesity and metabolic syndrome. The study, led by Prof. Joseph Tam of the Hebrew University of Jerusalem, was published in ACS Pharmacology and Translational Science.

The research focused on the effects of a treatment combining SciSparc's Palmitoylethanolamide (PEA) with Clearmind's psychoactive molecule MEAI on diet-induced obesity in mice. Results indicated significant weight loss through decreased fat mass, preserved lean mass, and improved glucose metabolism. The treatment also increased energy expenditure and fat oxidation without overstimulation, suggesting a balanced approach to energy balance.

This collaboration, which began in 2022, has led to multiple patent applications for the development of treatments for addictions as well as obesity and metabolic syndrome. SciSparc and Clearmind jointly fund studies and intellectual property related to their partnership, leveraging their expertise in cannabinoid-based and psychedelic-derived therapeutics, respectively.

The study's key findings include a reduction in fatty liver conditions, lower liver triglyceride and cholesterol levels, and indications of inhibited lipid synthesis and reduced fat accumulation. The combination treatment was well tolerated and led to increased oxygen consumption and carbon dioxide emission, highlighting a potential increase in metabolic processes and fat burning.

SciSparc is a clinical-stage pharmaceutical company focusing on therapies for central nervous system disorders and rare diseases, with a portfolio that includes treatments for Tourette Syndrome, Alzheimer's disease, pain, autism, and status epilepticus. Clearmind Medicine is a biotech firm engaged in developing psychedelic-derived therapeutics to address health problems such as alcohol use disorder.

The companies' announcement is based on a press release statement, and while the findings are promising, they are part of ongoing research and are considered forward-looking statements. These statements are subject to risks and uncertainties, and actual results may differ materially from those projected. SciSparc and Clearmind continue to explore the potential of their combined treatments for obesity and metabolic syndrome.

In other recent news, SciSparc Ltd. and Clearmind Medicine Inc. have submitted a new patent application to the United States Patent and Trademark Office for a novel composition aimed at treating metabolic syndrome and obesity. This development is a product of their ongoing collaboration, which has previously resulted in twelve other patent applications.

In a separate development, Clearmind has secured exclusive global rights to develop and commercialize innovative compounds for treating post-traumatic stress disorder (PTSD) and other mental health conditions, in an agreement with Yissum Research Development Company of the Hebrew University of Jerusalem.

Furthermore, Clearmind has made significant progress in its MEAI-based alcohol substitute beverage program. The company has completed the required pre-clinical studies for a novel-food application and secured patents for this alcohol substitute in the United States, India, and Europe.

Lastly, Clearmind has also submitted a patent application for the use of a compound in the prevention and treatment of eating disorders. These are among the recent developments that underscore SciSparc and Clearmind's ongoing efforts in their respective fields.

InvestingPro Insights

In light of the recent study findings by SciSparc Ltd. and Clearmind Medicine Inc., investors may be keen to understand the financial health and market performance of Clearmind Medicine (NASDAQ:CMND). According to InvestingPro data, Clearmind Medicine holds a market capitalization of approximately $4.17 million.

However, the company's financial metrics indicate that it has not been profitable over the last twelve months, with an operating income of around -$5.5 million and a return on assets of -93.26%. Despite these challenges, Clearmind Medicine's liquid assets exceed its short-term obligations, which could provide some financial stability as it continues to invest in research and development.

InvestingPro Tips also reveal that Clearmind Medicine's stock has experienced significant volatility. Over the last week, the stock price has taken a substantial hit, with a one-week price total return of -25.44%. This is consistent with the longer-term trend, as the price has fallen significantly over the last year, with a one-year price total return of -90.16%. Moreover, Clearmind Medicine's stock price often moves in the opposite direction of the market, which could be a consideration for investors looking for counter-market trends in their portfolios.

For those interested in deeper analysis, InvestingPro offers more tips on Clearmind Medicine, which can be found at https://www.investing.com/pro/CMND. There are additional tips available, providing a comprehensive look at the company's financial health and market performance, which could be vital for investors making informed decisions in the context of the company's recent promising research developments.

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