Clearmind Medicine Inc. announced that it has submitted its tenth patent application under the international Patent Cooperation Treaty (?PCT?), as part of its ongoing collaboration with SciSparc Ltd., a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system. The patent applications refer to the novel proprietary composition of Clearmind?s MEAI compound (5-methoxy-2-aminoindane) with Palmitoylethanolamide (?PEA?), the active ingredient of SciSparc?s proprietary CannAmide?, for preventing and/or treating depression. This application was previously filed as provisional patent application with the United States Patent and Trademark Office (?USPTO?).

According to the ResearchAndMarkets.com, the global depression and anxiety disorders treatment market size was estimated to be USD 21.56 billion in 2023 and is expected to reach at USD 41.83 billion by 2034 with a CAGR of 6.21% during the forecast period 2024-2034. Overall, as part of this collaboration, nine other patent applications have been filed by Clearmind with the USPTO for various compositions, including the composition of SciSparc?s PEA with Clearmind?s MEAI compound for the treatments of alcohol use disorder, cocaine addiction and obesity and its related metabolic disorders.