SciSparc-Clearmind Partnership Yields Three New International Patent Applications for MDMA, Ibogaine and Ketamine Compounds
SciSparc Ltd. announces collaboration with Clearmind Medicine Inc. for patent applications on novel psychedelic-derived therapeutics, focusing on mental health disorders.
The strategic collaboration between SciSparc Ltd. and Clearmind Medicine Inc. in filing patent applications for novel compositions of psychedelics combined with SciSparc's CannAmide™ is a significant development in the biotech and pharmaceutical sectors. The combination of MDMA, ibogaine and ketamine with palmitoylethanolamide (PEA) suggests a novel approach to enhancing the therapeutic efficacy and safety profiles of these psychedelic substances, which are traditionally known for their psychoactive properties.
From a pharmaceutical development perspective, the success of these patent applications could lead to the advancement of a new class of treatments for mental health disorders and rare diseases of the central nervous system. Given the current therapeutic gaps in treating conditions such as alcohol use disorder, cocaine addiction and obesity-related metabolic disorders, these patents, if granted, could pave the way for significant R&D investments and partnerships. The potential market exclusivity offered by patents can also lead to an increase in shareholder value and provide a competitive edge in the market.
However, the path from patent filing to marketable products is fraught with clinical and regulatory challenges. The therapeutic compounds must demonstrate not only efficacy and safety in rigorous clinical trials but also navigate the complex regulatory landscape to gain approval from bodies such as the FDA. The long-term impact on SciSparc's and Clearmind's business will depend on their ability to successfully bring these compounds to market and the reception from the medical community and patients.
Filing patent applications under the international Patent Cooperation Treaty (PCT) is a strategic move that allows SciSparc and Clearmind to seek patent protection in multiple countries simultaneously. This global approach to intellectual property management is essential for biotechnology companies that operate in an industry characterized by high R&D costs and international markets.
The transition from provisional to PCT applications indicates a maturing of the companies' IP strategy and a commitment to securing their inventions. However, it's important to note that the PCT process is only the beginning of seeking patent protection; each patent will still need to be validated in individual jurisdictions, which can be a costly and time-consuming process. The strength and enforceability of these patents will be critical in protecting the companies' investments and potential market share against competitors.
Furthermore, the specificity of the patent claims regarding the novel proprietary compositions will be crucial. The ability to defend these claims against potential infringement or to withstand challenges during the patent examination process will significantly impact the ultimate value of these patents to the companies.
The mental health treatment market is rapidly evolving, with a growing acceptance of psychedelic-based therapies. The collaboration between SciSparc and Clearmind to develop therapies for disorders such as alcohol use disorder, cocaine addiction and obesity indicates a strategic focus on addressing unmet needs in the mental health space. The patent filings for novel drug compositions are poised to capture a significant share of this emerging market.
Market analysis suggests that there is a substantial demand for innovative treatments in mental health care, particularly for conditions that are currently under-treated. If the new compounds prove to be effective, this could disrupt the current treatment paradigms and create new market opportunities for SciSparc and Clearmind. The market response to these filings will likely be positive, as investors and stakeholders typically view a robust patent portfolio as a key indicator of future growth potential.
It is essential to monitor the competitive landscape, as other companies are also exploring psychedelic-based therapeutics. The ability of SciSparc and Clearmind to maintain a first-mover advantage through these patents could be a decisive factor in their long-term success in the market.
02/27/2024 - 07:58 AM
TEL AVIV, Israel, Feb. 27, 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 today that as part of its ongoing collaboration with Clearmind Medicine Inc. (“Clearmind”) (Nasdaq: CMND) (CSE: CMND) (FSE: CWY), a biotechnology company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated mental health problems, Clearmind filed three patent applications under the international Patent Cooperation Treaty (“PCT”).
The patent applications refer to novel proprietary compositions of 3,4-methylenedioxymethamphetamine (MDMA), ibogaine, and ketamine, each combined with palmitoylethanolamide (“PEA”), the active ingredient of SciSparc's proprietary CannAmide™. These applications were previously filed as provisional patent applications with the United States Patent and Trademark Office (“USPTO”).
As part of this collaboration, eight other applications have been filed by Clearmind with the USPTO for various combinations, three of which are for the combination of PEA with Clearmind’s 5-methoxy-2-aminoindane compound for the treatments of alcohol use disorder, cocaine addiction and obesity and its related metabolic disorders. In addition, seven applications were filed under the PCT.
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 Company’s ongoing collaboration with Clearmind. 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. 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 May 1, 2023, 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
What is the ticker symbol for SciSparc Ltd.?
The ticker symbol for SciSparc Ltd. is SPRC.
What is the focus of SciSparc Ltd.?
SciSparc Ltd. is a specialty clinical-stage pharmaceutical company focusing on the development of therapies for disorders and rare diseases of the central nervous system.
What is the collaboration between SciSparc Ltd. and Clearmind Medicine Inc. about?
The collaboration involves the filing of patent applications for novel psychedelic-derived therapeutics to address major under-treated mental health problems.
What are the patent applications filed by Clearmind Medicine Inc. under the PCT?
Clearmind filed patent applications for novel compositions of MDMA, ibogaine, and ketamine combined with PEA, the active ingredient of SciSparc's CannAmide™.
What are the other applications filed by Clearmind Medicine Inc. with the USPTO?
Clearmind filed applications for combinations of PEA with 5-methoxy-2-aminoindane compound for the treatments of alcohol use disorder, cocaine addiction, and obesity and related metabolic disorders.
