Vancouver, Canada, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) (“Clearmind” or the "Company"), a clinical-stage biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, today announced the publication of an international patent application under the Patent Cooperation Treaty (PCT) as part of its ongoing collaboration with SciSparc Ltd. (Nasdaq: SPRC) ("SciSparc"), a specialty clinica ...

TEL AVIV, Israel, Aug. 07, 2025 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) ("Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders and rare diseases of the central nervous system, announced today that its collaboration with Clearmind Medicine Inc. (Nasdaq: CMND) (“Clearmind”) has led to the publication of an international patent application under the Patent Cooperation Treaty (PCT). The patent application published under ...

TEL AVIV, Israel, July 30, 2025 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) (the “Company” or “SciSparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, announces additional progress in connection with the proposed merger with AutoMax Motors Ltd., a leading vehicles importer and the exclusive importer of Anhui Jianghuai Automobile Group Corp., Ltd.-manufactured electric vehicles in Israel (“AutoMax”).  As pre ...

TEL AVIV, Israel, July 30, 2025 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) ("Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders and rare diseases of the central nervous system, announced today that its collaboration with Clearmind Medicine Inc. (Nasdaq: CMND) (“Clearmind”) has led to the filing of a new international patent application under the Patent Cooperation Treaty. The application covers its innovative combinati ...

Group 1 - SciSparc Ltd. has regained compliance with Nasdaq Listing Rule 5550(a)(2) after its ordinary shares maintained a minimum bid price of $1.00 per share for 10 consecutive business days [1][2] - The compliance determination by Nasdaq indicates that the prior bid price deficiency matter is now closed [2] - SciSparc is a clinical-stage pharmaceutical company focused on developing therapies for central nervous system disorders and rare diseases, with a portfolio that includes drug development programs for Tourette Syndrome, Alzheimer's disease, autism, and status epilepticus [3] Group 2 - The company is led by an experienced team of senior executives and scientists, emphasizing its expertise in cannabinoid pharmaceuticals [3] - SciSparc also has a controlling interest in a subsidiary that sells hemp seed oil-based products on the Amazon.com Marketplace [3]

Company Overview - SciSparc Ltd. is a specialty clinical-stage pharmaceutical company focused on developing therapies for central nervous system disorders and rare diseases [6] - The company is engaged in drug development programs including SCI-110 for Tourette Syndrome and SCI-210 for autism and status epilepticus, utilizing cannabinoid pharmaceuticals [6] Reverse Share Split Announcement - The company announced a one-for-twenty one (1-for-21) reverse share split effective July 3, 2025, reducing the number of outstanding shares from approximately 11,225,751 to about 534,600 [1][4] - Following the reverse share split, approximately 516,727 shares will be publicly held, and the shares will continue to trade on the Nasdaq under the symbol "SPRC" [1] Shareholder Impact - The reverse share split will affect all shareholders uniformly, maintaining their percentage of ownership, with minor adjustments for fractional shares [4] - Fractional shares will not be issued; instead, they will be rounded to the nearest whole share [4] Share Capital and Options - The reverse share split will not adjust the authorized share capital, which remains at 75,000,000 Ordinary Shares [3] - There will be proportionate adjustments to the exercise price and the number of shares for all outstanding options and warrants [4] Shareholder Actions - Shareholders holding shares in book-entry form or through brokerage accounts do not need to take any action as the exchange will be processed automatically [5]

Core Viewpoint - SciSparc Ltd. has announced the publication of a Japanese divisional patent for a novel pharmaceutical combination of paracetamol and palmitoylethanolamide (PEA), which may provide enhanced pain and fever relief with lower doses and fewer side effects compared to traditional paracetamol use [1][2]. Group 1: Patent and Innovation - The newly published patent introduces a combination of paracetamol and PEA that could lead to safer and more effective treatment options for millions globally [2]. - The combination aims to reduce the required dosage of paracetamol, thereby minimizing risks such as liver damage while improving outcomes for various types of pain and fever [3]. Group 2: Company Overview - SciSparc Ltd. is a clinical-stage pharmaceutical company focused on developing therapies for central nervous system disorders and rare diseases, with a portfolio that includes cannabinoid pharmaceuticals [4]. - The company is currently engaged in drug development programs targeting conditions such as Tourette Syndrome, Alzheimer's disease, autism, and status epilepticus [4].

TEL AVIV, Israel, April 25, 2025 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) (the "Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, announced today that its collaboration with Clearmind Medicine Inc. (Nasdaq: CMND) has led to the filing of a new international patent application for a proprietary treatment targeting anorexia, bulimia and other eating disorders. The patent application cove ...

Financial Performance - The company incurred significant net losses of approximately $7.5 million for the year ended December 31, 2024, $5.9 million for 2023, and $2.6 million for 2022, with an accumulated deficit of approximately $75 million as of December 31, 2024[52]. - As of December 31, 2024, the company had cash of approximately $2.1 million and working capital of approximately $4.9 million, indicating a need for substantial additional funding to continue operations[60]. - The company may need to seek additional funds sooner than planned due to changing operating plans and market conditions[60]. Revenue Generation - The company has not generated any revenue from the sale of its pharmaceutical product candidates and does not expect material revenues from its early commercialization efforts for CannAmide™[56]. - The company’s ability to generate revenue and achieve profitability depends on successfully completing the development and commercialization of its pharmaceutical product candidates[56]. - The potential addressable patient population for the company's pharmaceutical product candidates may be smaller than anticipated, adversely affecting revenue[122]. Research and Development - The company anticipates significant expenses related to the research and development of its product candidates, regulatory approvals, and establishing a sales and marketing infrastructure[54]. - The company has not yet commenced pivotal clinical studies for any product candidate, which may delay commercialization efforts for several years[53]. - The company may face difficulties in enrolling patients for clinical studies, which could delay or prevent the studies of its pharmaceutical product candidates[79]. Regulatory Challenges - The company plans to seek regulatory approval for its pharmaceutical product candidates in the United States and the European Union, but the approval process is lengthy and unpredictable[69]. - The company has not submitted marketing applications to the FDA or comparable foreign regulatory authorities, which poses a risk to its ability to commercialize its product candidates[68]. - Future legislative and regulatory proposals may materially impact the FDA's ability to operate, potentially slowing the review and approval of new products, adversely affecting the company's business[74]. Competition and Market Risks - The pharmaceutical industry is highly competitive, and the company may face patent litigation and mandatory delays in approval of its potential future NDAs[86]. - The company faces intense competition in the biotechnology and pharmaceutical industries, with many competitors potentially having greater financial and technical resources[125]. - The commercial success of product candidates will depend on market acceptance by physicians, patients, and third-party payors, which is uncertain[132]. Intellectual Property - The company holds a portfolio of seven granted patents and nine patent families, which are crucial for competitive positioning[151]. - The company may face challenges in enforcing intellectual property rights due to the repurposed nature of some drug substances, which could lead to competition from existing pharmaceutical products[157]. - Changes in patent laws could adversely affect the value and scope of the company's patent protections, impacting business operations[166]. Operational Risks - The company relies on third-party contract research organizations (CROs) for clinical studies, and any failure in their performance could delay regulatory approval[111]. - The company does not have internal manufacturing capabilities and relies on third parties for active pharmaceutical ingredients (API), which poses risks to supply continuity[114]. - The company may face challenges in recruiting additional employees and consultants, which could disrupt operations[179]. E-commerce Operations - Wellution, acquired in September 2022, sells hemp-based products on Amazon Marketplace, but management has limited prior experience in eCommerce operations[194]. - The company relies on sophisticated information technologies and systems for its operations, necessitating continuous improvements to maintain competitiveness[197]. - The eCommerce operations are vulnerable to risks related to online payment methods, including potential increases in transaction fees and compliance challenges[217]. Proposed Merger with AutoMax - The proposed merger with AutoMax is expected to result in AutoMax shareholders owning approximately 49.99% of the combined company on a fully-diluted basis[236]. - If the merger is not consummated, the company's share price could decline due to the associated risks and uncertainties[240]. - The company has incurred and expects to continue incurring significant expenses related to the proposed Merger with AutoMax, regardless of whether the Merger is completed[241].

Core Insights - SciSparc Ltd. has announced a collaboration with Clearmind Medicine Inc. resulting in a patent application for a combination treatment targeting cocaine addiction [1][4] - The patent application is based on preclinical trial results showing that Clearmind's MEAI significantly reduces cocaine-induced craving in animal models [2] - Further research indicates that MEAI specifically targets drug-related compulsions without impairing responses to natural rewards, suggesting a focused mechanism of action [3] Company Overview - SciSparc Ltd. is a clinical-stage pharmaceutical company specializing in cannabinoid pharmaceuticals, with ongoing drug development programs targeting various conditions including Tourette Syndrome, Alzheimer's disease, pain, and autism spectrum disorder [5] - Clearmind Medicine Inc. is a clinical-stage biotech company focused on developing psychedelic-derived therapeutics for health issues like alcohol use disorder [6] - Both companies are actively expanding their intellectual property portfolios, with Clearmind holding nineteen patent families and 31 granted patents [7]