SciSparc Ltd. Ordinary Shares - SPRC STOCK NEWS

SciSparc (Nasdaq: SPRC) has signed a non-binding letter of intent (LOI) to sell its entire 52.73% ownership stake in MitoCareX Bio to a publicly-traded US company. The deal involves a two-phase transaction:

1. SciSparc will sell 27% of its MitoCareX shares for $700,000 in cash.

2. The remaining 73% will be exchanged for shares based on an $8 million valuation of the purchaser and a $5 million valuation of MitoCareX.

The LOI includes provisions for additional milestones that could increase the consideration from $5 million to $7 million. The MitoCareX valuation represents a 47% increase from SciSparc's initial investment. SciSparc's CEO, Oz Adler, stated that this agreement aligns with their strategy to enhance shareholder value.

SciSparc (Nasdaq: SPRC) has received FDA approval to proceed with its Phase IIb clinical trial for SCI-110, a potential Tourette Syndrome treatment. The trial will be conducted at three leading centers: Yale School of Medicine, Hannover Medical School, and Tel Aviv Sourasky Medical Center. The study aims to evaluate the efficacy, safety, and tolerability of SCI-110 in adult patients aged 18-65 years.

The randomized, placebo-controlled trial will assess tic severity changes using the Yale Global Tic Severity Scale at weeks 12 and 26 compared to baseline. SciSparc has already secured Institutional Review Board approvals from all three clinical sites and related federal administrations. This milestone reinforces SciSparc's ambition to become a leading provider of treatments for central nervous system disorders.

SciSparc (Nasdaq: SPRC) has submitted an Investigational New Drug application to the FDA for a phase IIb clinical trial of SCI-110, its proprietary treatment for Tourette Syndrome. The trial will be conducted at three leading centers: Yale Child Study Center, Hannover Medical School, and Tel Aviv Sourasky Medical Center. The company has already secured necessary approvals from institutional review boards and relevant health authorities.

The trial aims to evaluate the efficacy, safety, and tolerability of SCI-110 in adult patients aged 18-65 years. Participants will be randomized to receive either SCI-110 or a placebo. The primary efficacy objective is to assess tic severity change using the Yale Global Tic Severity Scale at weeks 12 and 26 compared to baseline. The safety objective focuses on monitoring adverse events in both treatment groups.

SciSparc (Nasdaq: SPRC) and Clearmind Medicine Inc. (Nasdaq: CMND) have announced the publication of an international patent application for a pioneering Ibogaine combination therapy. This innovative treatment aims to enhance safety and efficacy in mental health and addiction care. The patent application, filed under the Patent Cooperation Treaty, covers the combination of Ibogaine with N-Acylethanolamines.

Ibogaine, derived from the Tabernanthe iboga shrub, has shown potential in treating various substance use disorders. The collaboration between SciSparc and Clearmind focuses on developing therapies that combine psychedelic molecules with N-acylethanolamines, including Palmitoylethanolamide. To date, thirteen patents related to this collaboration have been filed by Clearmind in the U.S. and other global jurisdictions.

SciSparc (Nasdaq: SPRC) has advanced an additional $1.85 million loan to AutoMax Motors , bringing the total bridge loan amount to $4.25 million. This follows a second amendment to their Bridge Loan Agreement from January 14, 2024. In exchange, AutoMax provided a first-ranking fixed charge security interest on shares of its subsidiary, AutoMax Leasing This loan fulfills the Closing Financing requirement outlined in their April 10, 2024 Merger Agreement.

Notably, AutoMax Leasing has signed a direct import agreement with JAC Motors, a major Chinese automobile manufacturer. This partnership could potentially expand AutoMax's vehicle offerings and market presence.

SciSparc (Nasdaq: SPRC) and Clearmind Medicine Inc. have announced the publication of an international patent application for an innovative MDMA-based combination treatment. This collaboration aims to enhance the safety and efficacy of mental health and addiction treatments by combining MDMA with N-Acylethanolamines, including Palmitoylethanolamide (PEA).

The partnership has already resulted in thirteen patent applications filed with the U.S. Patent and Trademark Office and other global jurisdictions. SciSparc's CEO, Oz Adler, emphasized that this approach may address FDA concerns regarding MDMA safety, potentially overcoming regulatory barriers and unlocking MDMA's full potential in clinical settings.

SciSparc (Nasdaq: SPRC) has announced a significant development in its collaboration with Clearmind Medicine Inc. Clearmind has published a patent application for innovative combinations of ketamine and N-acylethanolamines. This collaboration focuses on researching combination treatments using SciSparc's Palmitoylethanolamide (PEA) and Clearmind's psychedelic molecule, MEAI, for treating addictions, weight loss, and mental health disorders.

The partnership has already resulted in thirteen patent applications filed with the U.S. Patent and Trademark Office and other global patent offices. SciSparc's approach aims to reduce the number of doses of active ingredients while maintaining effectiveness and minimizing side effects, potentially improving treatment outcomes for various medical conditions.

SciSparc (Nasdaq: SPRC) has finalized an Exclusive Patent License Agreement with Polyrizon for the out-licensing of its SCI-160 program for pain treatment. The deal is worth up to $6 million, including:

• $3 million in Polyrizon securities
• Potential milestone fees of approximately $3 million in cash
• Royalties

SCI-160 is a synthetic combination of cannabinoids and N-acylethanolamines that has shown promising results in pre-clinical studies, demonstrating analgesic effects comparable to high-dose morphine without significant side effects. This development could potentially address the public health issue of opioid abuse in pain management.

SciSparc (Nasdaq: SPRC) has submitted an Investigational New Drug (IND) application to the FDA for its phase IIb clinical trial of SCI-110, a potential treatment for Tourette Syndrome (TS). The trial will be conducted at three leading centers: Yale Child Study Center, Hannover Medical School, and Tel Aviv Sourasky Medical Center. SCI-110, composed of dronabinol and palmitoylethanolamide, aims to address challenges in current TS treatments.

The study will evaluate the efficacy, safety, and tolerability of SCI-110 in adult patients aged 18-65. Participants will be randomized to receive either SCI-110 or a placebo. The primary efficacy objective is to assess tic severity change using the Yale Global Tic Severity Scale at weeks 12 and 26 compared to baseline. The trial's primary safety objective is to assess the frequency of serious adverse events.