SciSparc Ltd. and Clearmind Medicine Inc. Collaboration

TEL AVIV, Israel, Sept. 22, 2022 (GLOBE NEWSWIRE) — SciSparc Ltd. (Nasdaq: SPRC) (“Company” or “SciSparc”), a specialty clinical-stage pharmaceutical company focused on the development of therapies to treat disorders of the central nervous system, announced today that Clearmind Medicine Inc. (“Clearmind” ) (CSE: CMND), (OTC: CMNDF), (FSE: CWY0), has filed a provisional patent application related to metabolic syndromes including obesity the Company’s collaboration with Clearmind.

The patent filing is the third of the collaborations, each covering SciSparc’s proprietary combination of palmitoylethanolamide (PEA), the active ingredient in its proprietary CannAmid™ (used to treat obesity and related metabolic disorders), and Clearmind’s MEAI, a novel proprietary psychedelic treatment relates to various addictions and based on research at the Hebrew University.

“Our collaboration with Clearmind is focused on treating various addictive and eating behaviors, taking advantage of our technology and that of Clearmind. Obesity, overweight and binge eating are among the biggest health problems of the last decade and are associated with addictive behaviors, and yet the treatment options available on the market are very limited,” commented Oz Adler, Chief Executive Officer of SciSparc. “We believe that the combination of MEAI with SciSparc’s CannAmide™ could present a great opportunity to treat these conditions.”

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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 THC and/or non-psychoactive cannabidiol (CBD)-based drug development programs: SCI-110 for the treatment of Tourette’s syndrome, for the treatment of Alzheimer’s disease and agitation; SCI-160 for pain management; and SCI-210 for the treatment of autism spectrum disorders and status epilepticus.

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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 state securities laws. For example, SciSparc uses forward-looking statements when discussing the ability of the combination of MEAI with SciSparc’s CannAmide™ to successfully treat obesity and metabolic diseases. Because such statements relate to future events and are based on SciSparc’s current expectations, they involve various risks and uncertainties, and SciSparc’s actual results, performance or achievements may differ materially from the statements described or implied in this press release. The forward-looking statements contained or implied by 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 US Securities and Exchange Commission (the ” SEC”) on April 28, 2022 and in subsequent filings with the SEC. Except as required by law, SciSparc disclaims any intention or obligation to update or revise any forward-looking statement, which speaks only as of the date made, whether as a result of new information, future events or circumstances, or otherwise.

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