TEL AVIV - SciSparc Ltd. (NASDAQ:SPRC), a pharmaceutical company specializing in treatments for central nervous system disorders, announced Monday that its collaborator Clearmind Medicine Inc. (NASDAQ:CMND) has filed three international patent applications. These applications, filed under the Patent Cooperation Treaty, relate to combinations of psychedelic compounds with SciSparc's CannAmide™, for potential therapeutic uses.
Clearmind, a biotech firm working on psychedelic-derived therapeutics, initially filed these as provisional applications with the U.S. Patent and Trademark Office. The patents involve the use of substances such as LSD, psilocybin, DMT, and PEA, the active ingredient in SciSparc's proprietary CannAmide™.
SciSparc CEO, Oz Adler, expressed optimism about the collaboration's progress and the potential benefits of integrating CannAmide™ with psychedelic compounds known for their therapeutic properties. He highlighted the importance of expanding the intellectual property portfolio as a valuable company asset.
SciSparc's drug development programs focus on cannabinoid-based pharmaceuticals, targeting conditions like Tourette Syndrome, Alzheimer's disease, pain, ASD, and status epilepticus. Additionally, SciSparc has a controlling interest in a subsidiary selling hemp seed oil products on Amazon.com (NASDAQ:AMZN).
The announcement includes forward-looking statements regarding the collaboration and the anticipated advantages of combining CannAmide™ with psychedelic compounds. However, SciSparc cautions that past scientific research and clinical trials do not guarantee future results, and actual outcomes may differ materially.
These forward-looking statements are subject to risks and uncertainties detailed in SciSparc's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F filed on May 1, 2023.
This news is based on a press release statement and reflects the current expectations of SciSparc and Clearmind regarding their ongoing partnership and intellectual property strategy.
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