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SciSparc Announces Additional Positive Results from the Third Part of Clearmind Medicine Inc. Pre-Clinical Study for Cocaine Addiction Treatment

The results of pre-clinical in-vivo research studies suggested that Clearmind's drug candidate MEAI may be effective in the treatment of addiction without interrupting the natural reward process.

TEL AVIV, Israel, Jan. 17, 2023 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) ("Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, today announced additional positive pre-clinical results in ongoing series of research studies of treatment for cocaine using MEAI, a novel psychedelic molecule of Clearmind Medicine Inc. (“Clearmind”) (Nasdaq, CSE: CMND), (FSE: CWY).

The results are in connection with the ongoing collaboration between the Company and Clearmind and the provisional patent application for treating cocaine addiction with Clearmind, based on SciSparc’s CannAmide™’s active ingredient Palmitoylethanolamide and Clearmind’s MEAI. The patent application was submitted to the United States Patent and Trademark Office in June 2022.

The pre-clinical studies were led by Professor Gal Yadid from the Gonda Multidisciplinary Brain Research Center at Bar Ilan University in Israel. As previously announced on August 24, 2022, Clearmind's proprietary MEAI at a dose of 5mg/kg, may be effective in the treatment of cocaine addiction by decreased craving for cocaine.

The latest research studies were designed to evaluate the effects of MEAI on natural reward, as reward-based positive reinforcement is a shared evolutionary survival strategy across species. However, in drug addiction, reward seeking becomes maladaptive and endangers survival. The purpose of this in-vivo study was to conclude whether MEAI uses the same mechanisms that underlie the seeking of both drug and natural rewards (such as sucrose). The results demonstrated that natural reward was maintained in the MEAI-treated rats, thus showing that the effect of MEAI on drug-seeking is not related to the general reward system.

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.

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 seven 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”.

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 Clearmind’s intention to seek additional patents for compounds and Clearmind being opportunistic regarding the acquisition of additional intellectual property . Historic 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 April 28, 2022, 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:
Tel: +972-3-6167055

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