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Clearmind Medicine and SciSparc Collaboration Yields Positive Results for its Psychedelic Combination Treatment

·5-min read
Clearmind Medicine Inc.
Clearmind Medicine Inc.

Pre-clinical trial based on the proprietary combination demonstrates high safety profile in addition to a significant suppressive effect on alcohol consumption

Vancouver, May 24, 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 positive safety profile results from its joint pre-clinical trial with SciSparc Ltd. (NASDAQ: SPRC), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system ("SciSparc").

The trial evaluated the proprietary combination of Clearmind's proprietary psychedelic molecule MEAI and SciSparc's CannAmide™ for treating alcohol consumption.

“We are extremely pleased with these positive results that once again strengthen our belief in the potential of our novel propriety psychedelic molecule MEAI,” said Dr. Adi Zuloff- Shani, Clearmind's Chief Executive Officer. “The results continue to suggest a high safety profile of the joint venture psychedelic combination treatment. We plan to further explore the safety and efficacy of combining our novel technology with Clearmind's novel molecule."

Earlier trials successfully showed a significant dose-dependent effect for MEAI treatment in reducing alcohol consumption in mice, with an additional significant effect achieved when combining CannAmide™ with a lower sub-effective MEAI dose. These positive results follow previously announced results showing that alcohol consumption was significantly reduced following treatment with MEAI at a dose of 40 mg/kg and higher (p<0.01) compared to consumption before treatment.

A histopathology assessment was conducted to determine safety of the proprietary combination of MEAI and CannAmide vs. control (mice that were not exposed to alcohol). Several organs (heart, lungs, liver, kidneys, brain, pancreas, spleen, and thyroid gland) were harvested from all experiment groups (n=3-5 per group) and evaluated for impairment. The severity of impairments was scored by a 5-point scale by a qualified blinded toxicologist (Schafer et al., Toxicol Pathol 2018, 46:256-265). Results indicated a high safety profile of the combination treatment with no treatment-related changes observed.

Alcohol consumption was significantly reduced following dual treatment with 25 mg/kg CannAmide™ in addition to MEAI at a dose of 20 mg/kg and compared to consumption before treatment. The mice were provided with 20% alcohol solution for 24 hours, three times a week for seven weeks, and were treated every day with MEAI or MEAI/CannAmide™ during the last two weeks of alcohol treatment. The alcohol consumption was measured by weighing the alcohol bottles before and after; water consumption was measured similarly in parallel.

About Clearmind Medicine Inc.

Clearmind is a biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder, binge eating and depression.

The Israeli-Canadian company holds several patents for the non-hallucinogenic compound MEAI. 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.

The company’s intellectual portfolio currently consists of five 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.

For further information, please contact:

Investor Relations

invest@clearmindmedicine.com

Telephone: (604) 260-1566

General Inquiries

Info@Clearmindmedicine.com

www.Clearmindmedicine.com

FORWARD-LOOKING STATEMENTS:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe to the satisfaction of the relevant regulators and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

Investing into early-stage companies inherently carries a high degree of risk, and investment into securities of the Company shall be considered highly speculative.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.


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