• SciSparc and Clearmind’s collaboration continues to yield positive outcomes, the latest with Clearmind results for treating obesity and its related metabolic disorders

TEL AVIV, Israel, Jan. 05, 2023 (GLOBE NEWSWIRE) --  SciSparc Ltd. (Nasdaq: SPRC), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system (the "Company" or "SciSparc"), today announced initial positive pre-clinical results for treatment for obesity and the potential treatment of metabolic syndromes using MEAI, a novel psychedelic molecule of Clearmind Medicine Inc. (“Clearmind”) (Nasdaq, CSE: CMND), (FSE: CWY).

The results are in connection with the provisional patent application for treating metabolic syndromes including obesity with Clearmind based on SciSparc’s CannAmide™’s active ingredient Palmitoylethanolamide and Clearmind’s MEAI, submitted in September 2022.

"We are excited about Clearmind's results, in light of the potential synergistic effect between SciSparc’s CannAmide and Clearmind’s MEAI, as previously demonstrated in numerous studies for several conditions with MEAI’s effective dose. According to the World Health Organization, approximately, 1 billion people worldwide, more than 30% of the global population, are overweight or obese, and we believe obesity treatment could quickly become a top-12 global therapy, growing from a $2.4 billion category in 2022 to $54 billion by 2030," commented Oz Adler, SciSparc's Chief Executive Officer. "We believe that this virtually untapped multibillion-dollar market creates significant opportunities for our joined collaboration with Clearmind by developing a unique drug candidate for the market to treat obesity."

Clearmind's study, was conducted at the Hebrew University of Jerusalem, included multi-parameter metabolic assessments such as body weight, fat mass, glucose tolerance, insulin sensitivity, liver enzymes and fat accumulation as well as food consumption patterns. It included three groups of rodents: one was fed a standard diet, another a high-fat diet, and the third a high-fat diet group along with treatment with MEAI.

The animals treated with MEAI showed increased energy expenditure, better fat utilization, and weight loss of 20%, while reducing their overall fat mass and preserving their lean body mass. No effect on motivation and well-being was observed. Additionally, the treatment yielded normalization of insulin levels, improved glucose tolerance as well as reduced fat and triglycerides accumulation in the liver. These results were significantly better than those obtained in the high fat, untreated group.

Furthermore, a significant reduction in sucrose preference was observed following administration of MEAI for two days at the effective dose, supporting the notion that it can dampen the hedonic value of rewarding stimuli. Thus, this treatment may be beneficial for the treatment of compulsive-reward-seeking behavior or excessive consumption of sweet foods.

Mr. Oz Adler, the Chief Executive Officer and Chief Financial Officer of the Company, is a director of Clearmind. Dr. Adi Zuloff-Shani, Clearmind's Chief Executive Officer, is the Chief Technology Officer of the Company. Mr. Amitai Weiss is the Chairman of the board of directors of both Clearmind and the Company.

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 (CBD): SCI-110 for the treatment of Tourette syndrome and for the treatment of 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.

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 under the symbol "CMND", 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: the potential efficacy of MEAI and use as potential treatment; the potential synergistic effect between CannAmide™ and MEAI; the future market for treating obesity; and opportunities to collaborate with Clearmind and develop a drug candidate to treat obesity. 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 U.S. Securities and Exchange Commission (“SEC”) on April 28, 2022, and in subsequent filings with the SEC. 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.

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