The companies have begun the Collaboration with a joint pre-clinical study and are expecting its results potentially to deepen the Collaboration between the parties.
TORONTO, March 08, 2022 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (CSE: CMND, OTC Pink: CMNDF, FSE: CWY0)
(“Clearmind” or the "Company"), a biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major undertreated health problems, today announced a Collaboration agreement (the “Collaboration”) with SciSparc Ltd. (NASDAQ: SPRC).
The two companies will explore the potential for the creation of innovative compounds in the psychedelic area. The Collaboration will address, inter alia, examining the benefit of integrating the core technologies of each company by combining molecules from their respective development pipelines. The companies have begun the Collaboration with a joint pre-clinical study and are expecting its results potentially to deepen the Collaboration between the parties.
“Our aim is to develop innovative, effective and safe psychedelic-derived therapeutics that could transform the mental health pharmaceutical market,” said Clearmind CEO Adi Zuloff-Shani. “Clearmind has established a number of R&D partnerships, in order to continue strengthening its IP portfolio, including with leading academic, research and medical institutions. We’re excited about the Collaboration with SciSparc, which we consider symbiotic, and expecting to reveal more details about the science behind the Collaboration soon.”
The Collaboration is a “Related Party Transaction” (as such term is defined in “Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions” (the “Instrument”) as certain directors and officers of the Company are also or have been directors and officers of SciSparc Ltd. The Company will comply with the Instrument but expects to rely on the exemptions available in Sections 5.5 (a) and 5.7 (a) of the Instrument as they relate to the Collaboration.
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 four 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 the Canadian Securities Exchange under the symbol "CMND", the Frankfurt Stock Exchange under the symbol “CWYO” and on the OTC pink under the symbol "CMNDF".
About SciSparc (NASDAQ:SPRC):
SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. Our 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 obstructive sleep apnea and 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.
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Telephone: (604) 260-1566
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