SciSparc Files U.S. Patent for Metabolic Syndrome Treatment and Weight Loss

TEL AVIV, Israel, July 16, 2024 -- SciSparc Ltd. (Nasdaq: SPRC) ("Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focused on developing therapies for central nervous system disorders and rare diseases, has announced an additional patent application with the United States Patent and Trademark Office (USPTO). This submission is part of its collaboration with Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) ("Clearmind"), a biotechnology company engaged in developing novel psychedelic-derived therapeutics. The invention, created with Professor Joseph Tam from the Hebrew University’s technology transfer company, Yissum, is for a unique composition combining Palmitoylethanolamide (PEA), the active ingredient in SciSparc’s CannAmide™, with Clearmind’s MEAI compound (5-methoxy-2-aminoindane) to treat metabolic syndrome and obesity.

The Centers for Disease Control and Prevention report that between 2017 and 2020, 41.9% of adults aged 20 and over in the United States were affected by obesity. The global obesity treatment market size was valued at $15 billion in 2022 and is projected to grow at an annual rate of 10.0% during the forecast period, according to Emergen Research. The increasing prevalence of obesity and advancements in weight loss technology are significant factors contributing to market growth.

As part of this collaboration, Clearmind has filed twelve additional patent applications with the USPTO. These applications cover various compositions, including the proprietary combination of SciSparc’s PEA with Clearmind’s MEAI compound, targeting treatments for alcohol use disorder, cocaine addiction, and obesity-related metabolic disorders.

SciSparc Ltd. is a specialty clinical-stage pharmaceutical company run by a team of seasoned executives and scientists. The company concentrates on developing and advancing technologies and assets based on cannabinoid pharmaceuticals. Its current drug development programs include SCI-110 for treating Tourette Syndrome and Alzheimer’s disease agitation, SCI-160 for pain treatment, and SCI-210 for autism spectrum disorder (ASD) and status epilepticus. Additionally, SciSparc has a controlling interest in a subsidiary that sells hemp seeds’ oil-based products on Amazon.com.

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