Clearmind Medicine and SciSparc Reflect on Successful Collaboration in 2023 Aiming to Upgrade Wide Range of Psychedelic- Based Treatments
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The strategic collaboration between Clearmind Medicine Inc. and SciSparc Ltd. to file six US patent applications for novel psychedelic compound combinations signifies a proactive approach to securing intellectual property in the competitive field of psychedelic-derived therapeutics. This move is particularly significant in the pharmaceutical industry where patents are crucial for protecting R&D investments and maintaining a competitive edge.
The patent applications cover combinations of well-known psychedelics with Palmitoylethanolamide (PEA), aiming to create treatments with enhanced synergistic effects for mental health disorders. The potential for these novel therapeutics to offer improved safety and efficacy could disrupt current treatment paradigms, presenting new opportunities for revenue growth and market expansion for both companies.
Given the broad IP footprint of Clearmind, with 51 patents across 15 families and SciSparc's clinical-stage focus, this collaboration is poised to leverage both companies' strengths. The joint ownership model of the assets generated could facilitate a smoother development pathway and shared risk, but also necessitates clear agreements on commercialization strategies and revenue sharing to prevent future conflicts.
The biotech sector values innovation, particularly in the burgeoning field of psychedelic medicine, where there is a high unmet need for novel mental health treatments. Clearmind's and SciSparc's collaboration to develop proprietary psychedelic combinations could address this need, potentially leading to significant market growth. This aligns with the industry trend of seeking alternative and more effective therapies for conditions such as depression, PTSD and addiction.
Investors should note the long-term nature of biotech investments, where patent filings represent early steps in a lengthy process involving clinical trials, regulatory approval and market adoption. The patents, if granted, would provide a competitive moat for a period, typically 20 years post-filing, allowing the companies to recoup R&D costs and potentially realize substantial profits if the compounds prove effective and reach the market.
However, the actual impact on the stock market will depend on the progression of these compounds through clinical trials and the companies' ability to navigate the regulatory landscape. Positive trial results and regulatory approvals could lead to stock appreciation, while any setbacks could have the opposite effect.
The novel combinations of psychedelics and PEA being patented by Clearmind and SciSparc hold the potential to revolutionize the treatment of various mental health disorders. These combinations may be designed to enhance the therapeutic effects of psychedelics while mitigating side effects, addressing a critical need for safer and more effective mental health treatments.
Psychedelic compounds like LSD, psilocybin, DMT, MDMA, Ibogaine and Ketamine have shown promise in clinical research for their potential to provide rapid and sustained relief from symptoms of mental health conditions. The addition of PEA, an endogenous fatty acid amide with analgesic and anti-inflammatory properties, could potentially augment the efficacy of these compounds and improve patient outcomes.
The impact of these developments on patients could be profound, offering new hope and options for those who have not responded to traditional treatments. As the research progresses, it will be essential to monitor clinical trial outcomes to better understand the safety and efficacy profiles of these novel treatments.
The collaboration included filing six different US patent applications with the United States Patent and Trademark Office to protect novel combinations of psychedelics with SciSparc's PEA
Tel Aviv, Israel / Vancouver, Canada, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (NASDAQ: CMND) (CSE: CMND), (FSE: CWY) (“Clearmind” or “the company"), a biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, reflects on the successful collaboration with SciSparc Ltd. (Nasdaq: SPRC) ("SciSparc") in 2023. Early in 2023, Clearmind filed six provisional patent applications with the United States Patent and Trademark Office for unique combinations of future psychedelic-based compounds. The patent applications were filed as part of Clearmind’s ongoing collaboration with SciSparc, a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system.
The patent applications, refer to novel proprietary combinations of lysergic acid diethylamide (LSD), psilocybin, and N,N-dimethyltryptamine (DMT), 3,4-Methylenedioxymethamphetamine (MDMA), Ibogaine, and Ketamine, each with Palmitoylethanolamide (PEA), the active ingredient of SciSparc's proprietary CannAmide™.
The patent applications are part of the company's commitment to offer patients safer and more effective treatments than those available today partly by strengthening its IP portfolio to broaden the therapeutic psychedelic toolbox for patients with mental health disorders that require transformative medicines, and developing treatments that offer synergy, efficacy and safety while reducing cost.
Clearmind has a broad IP footprint in the psychedelic space, with 51 patents in 15 utility patent families, of which twenty-six are granted patents in major jurisdictions like the US, Europe, China, and India and twenty-five patent pending applications internationally.
As part of the collaboration agreement between Clearmind and SciSparc, originally announced on March 8,2022, any assets generated from the collaboration shall be jointly owned by Clearmind and SciSparc .
About Clearmind Medicine Inc.
Clearmind is a 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 15 patent families. 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 and the Canadian Securities Exchange under the symbol "CMND" and the Frankfurt Stock Exchange under the symbol “CWY.”
For further information visit: https://www.clearmindmedicine.com or contact:
Investor Relations
Telephone: (604) 260-1566
General Inquiries
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 (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 autism spectrum disorder and status epilepticus.
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 commitment to offer patients safer and more effective treatments than those available today and the strengthening of its IP portfolio to broaden the therapeutic psychedelic toolbox for patients with mental health disorders that require transformative medicines and to develop treatments that offer synergy, efficacy and safety while reducing cost. In addition, 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. In addition, we 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 us. 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 filed with the SEC on February 6, 2023. 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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