Summary by Futu AI
SciSparc Ltd., a clinical-stage pharmaceutical company, announced on August 29, 2024, that its collaboration with Clearmind Medicine Inc. has led to the publication of a patent application for a novel ketamine-based combination therapy. The therapy combines SciSparc's Palmitoylethanolamide (PEA) with Clearmind's psychedelic molecule, MEAI, targeting treatments for addictions, weight loss, and mental health disorders. The collaboration has resulted in thirteen patent filings with the U.S. Patent and Trademark Office and other global patent offices. The announcement comes after the FDA's 2019 approval of a ketamine derivative for treatment-resistant depression and major depressive disorder with suicidal behavior, under strict medical supervision. SciSparc's CEO, Oz Adler, emphasized the company's commitment to developing proprietary combinations with PEA to enhance effectiveness and minimize adverse effects. SciSparc is also engaged in drug development programs for Tourette Syndrome, Alzheimer's disease, autism, and status epilepticus, and owns a subsidiary selling hemp seed oil-based products on Amazon.com.