SciSparc announces collaboration with Clearmind on innovative therapy combining MDMA and N-Acylethanolamines, with patents filed.
Quiver AI Summary
SciSparc Ltd., a clinical-stage pharmaceutical company focused on central nervous system disorders, announced a collaboration with Clearmind Medicine Inc., a biotech firm specialized in psychedelic therapies. Clearmind has published a patent application in Mexico for a new combination therapy that merges MDMA with N-Acylethanolamines, targeting various binge behaviors such as alcohol and tobacco consumption. This collaboration has led to the filing of 13 patents in the U.S. and other global jurisdictions. SciSparc is also advancing therapies for conditions like Tourette Syndrome and Alzheimer's disease, while Clearmind aims to develop psychedelic compounds as regulated treatments.
Potential Positives
- Announcement of a collaboration with Clearmind Medicine Inc. signifies strategic partnerships that can enhance innovation and development in mental health therapeutics.
- Publication of a patent application in Mexico for a novel combination therapy indicates progress in protecting intellectual property and potential commercial opportunities.
- The filing of 13 patents related to the collaboration illustrates a strong commitment to research and development, potentially leading to new treatment options in the pharmaceutical market.
Potential Negatives
- Collaboration with Clearmind may indicate dependence on another company for innovation, raising concerns about SciSparc's independent research capabilities.
- Forward-looking statements highlight uncertainty and risks, which could deter potential investors from viewing the company as a stable investment.
- Lack of specific details about the therapeutic outcomes or progress may lead to skepticism about the effectiveness of their therapies.
FAQ
What is SciSparc Ltd. focused on?
SciSparc Ltd. is focused on developing therapies for disorders and rare diseases of the central nervous system.
What partnership does SciSparc have with Clearmind?
SciSparc collaborates with Clearmind on researching innovative combination therapies integrating psychedelic molecules and N-Acylethanolamines.
What is the recent patent application published by Clearmind?
Clearmind published a patent application in Mexico for a new combination of MDMA and N-Acylethanolamines.
How many patents are related to the SciSparc and Clearmind collaboration?
There are 13 patents filed related to the collaboration between SciSparc and Clearmind.
What drug development programs is SciSparc currently engaged in?
SciSparc is developing drug programs for Tourette Syndrome, Alzheimer's disease, and autism, among others.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SPRC Hedge Fund Activity
We have seen 5 institutional investors add shares of $SPRC stock to their portfolio, and 3 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS GROUP AG added 65,653 shares (+1958.0%) to their portfolio in Q3 2024, for an estimated $15,966
- RENAISSANCE TECHNOLOGIES LLC removed 39,700 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $9,655
- TWO SIGMA SECURITIES, LLC added 37,082 shares (+inf%) to their portfolio in Q3 2024, for an estimated $9,018
- CITADEL ADVISORS LLC removed 23,862 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $5,803
- VIRTU FINANCIAL LLC added 14,106 shares (+inf%) to their portfolio in Q3 2024, for an estimated $3,430
- TWO SIGMA INVESTMENTS, LP removed 12,177 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $2,961
- MORGAN STANLEY added 233 shares (+4660.0%) to their portfolio in Q3 2024, for an estimated $56
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Full Release
TEL AVIV, Israel, Feb. 04, 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 and rare diseases of the central nervous system, announced today that as part of its ongoing collaboration with Clearmind Medicine Inc. (“Clearmind”) (Nasdaq: 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 has announced the publication of a patent application in Mexico for the innovative combination of 3,4-Methylenedioxymethamphetamine (MDMA) with N-Acylethanolamines.
The patent refers to SciSparc’s innovative combination therapy of N-Acylethanolamines and Clearmind’s MEAI, (5-methoxy-2-aminoindane) addressing binge behaviour, including alcohol consumption, eating, tobacco consumption, shopping and sexual conduct.
Under this collaboration, the two companies are researching innovative combination therapies that integrate psychedelic molecules with the N-Acylethanolamines family, including Palmitoylethanolamide (PEA). To date,13 patents related to this collaboration have been filed with the U.S. Patent and Trademark Office, 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. (Nasdaq: CMND) (FSE: CWY)
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. Clearmind’s intellectual portfolio currently consists of 19 patent families including 31 granted patents. 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, the Company is using forward looking statements when discussing ongoing collaborative research, the prospective outcomes and effects of SciSparc’s collaborative research with Clearmind, and the belief that SciSparc’s approach to its research may improve treatment outcomes. Since 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 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:
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Tel: +972-3-6167055