Welcome to our dedicated page for Scisparc news (Ticker: SPRC), a resource for investors and traders seeking the latest updates and insights on Scisparc stock.
About SciSparc Ltd. (Nasdaq: SPRC)
SciSparc Ltd. is a specialty clinical-stage pharmaceutical company that focuses on developing innovative therapies to address disorders and rare diseases of the central nervous system (CNS). The company leverages its expertise in cannabinoid-based pharmaceuticals to create proprietary formulations aimed at improving the quality of life for patients with conditions such as Tourette Syndrome, Alzheimer’s disease, autism spectrum disorder (ASD), and status epilepticus. SciSparc’s drug development programs are centered around its flagship candidates, including SCI-110, SCI-160, and SCI-210, which utilize active compounds like THC and non-psychoactive CBD for therapeutic benefits.
Core Business Segments
SciSparc operates two distinct yet complementary business segments:
- Pharmaceutical Development: The company’s primary focus is on advancing clinical-stage drug candidates through rigorous trials and regulatory pathways. Notable developments include SCI-110 for Tourette Syndrome and Alzheimer’s-related agitation, and SCI-210, a combination of cannabidiol and CannAmide™, for treating ASD and status epilepticus.
- Consumer Products: SciSparc also owns a controlling interest in a subsidiary that markets hemp-based products, including hemp gummies, oils, creams, and beauty treatments, through platforms like Amazon Marketplace. These products are manufactured in the United States and serve as an additional revenue stream.
Research and Innovation
SciSparc demonstrates a commitment to innovation through its robust intellectual property portfolio and strategic collaborations. The company partners with organizations like Clearmind Medicine Inc. to explore novel combination therapies that integrate cannabinoids with psychedelic molecules. Additionally, SciSparc is involved in ventures like MitoCareX Bio Ltd., which focuses on cancer therapeutics targeting the mitochondrial SLC25 protein family. These initiatives underscore SciSparc’s dedication to pioneering advanced treatment options in both CNS disorders and other medical fields.
Market Position and Challenges
Operating at the intersection of pharmaceuticals and consumer health products, SciSparc faces a competitive landscape that includes other cannabinoid-focused pharmaceutical companies. Its differentiation lies in its proprietary formulations and the dual application of THC and CBD compounds. However, the company must navigate challenges such as regulatory approvals, clinical trial risks, and market competition to solidify its position as a leader in cannabinoid-based therapies.
Strategic Ventures and Growth
SciSparc’s business strategy includes leveraging partnerships and ventures to unlock value. Notable examples include its collaboration with Clearmind Medicine on psychedelic-derived therapeutics and its involvement in MitoCareX Bio Ltd. for cancer drug development. The company also explores diversification opportunities, such as its merger agreement with AutoMax Motors Ltd., aimed at expanding into the automotive sector.
Conclusion
With its innovative approach to cannabinoid pharmaceuticals, strategic collaborations, and diversified business model, SciSparc Ltd. is positioned as a unique player in the pharmaceutical and consumer health markets. The company’s focus on addressing unmet medical needs in CNS disorders underscores its commitment to improving patient outcomes while maintaining a balanced and diversified revenue approach.
SciSparc (Nasdaq: SPRC) has signed a definitive agreement to sell its entire 52.73% ownership stake in MitoCareX Bio , a cancer therapeutics drug discovery company, to N2OFF Inc. (Nasdaq: NITO). The transaction includes:
- $700,000 cash payment for 4,961 MitoCareX shares
- Exchange of remaining shares for 40% of N2OFF's fully diluted capital stock
- Potential additional N2OFF stock up to 25% based on milestones
- 30% share of N2OFF's financing proceeds over 5 years (max $1.6M)
- N2OFF's commitment to invest $1M in MitoCareX post-closing
The deal requires N2OFF shareholder approval and must close within 30 days. Dr. Alon Silberman will continue as CEO with a 5% restricted stock grant vesting over 3 years. Upon completion, MitoCareX will become a wholly-owned subsidiary of N2OFF.
SciSparc (Nasdaq: SPRC) has provided a new $2 million loan to AutoMax Motors to support its business expansion in direct importing of JAC electric vehicles. The loan carries an 8% annual interest rate, repayable in monthly installments of $50,000 plus interest, with an early repayment option without penalties.
This new funding follows previous bridge loans totaling $4.25 million provided as part of a merger agreement signed in April 2024. The interest will be cancelled upon merger completion, with AutoMax continuing principal payments. The loan is secured by a first-ranking fixed charge on AutoMax's subsidiary shares.
The merger agreement, signed in April 2024, will see SciSparc acquire 100% of AutoMax, marking its expansion into the automotive sector. The deal remains subject to customary closing conditions and shareholder approvals from both companies.
SciSparc (Nasdaq: SPRC) has reached a significant settlement agreement regarding a lawsuit it filed in February 2022 against six former directors. The settlement, approved through court-mediated negotiations, includes a $411,000 cash payment to SciSparc from the defendants.
The lawsuit alleged breaches of fiduciary duties under Israeli Companies Law related to a prior pain clinic network acquisition. A key component of the settlement is the termination of a disputed licensing agreement with Dekel Pharmaceuticals , effective February 5, 2024. This agreement had been established with the company's former chairman and CEO, Dr. Ascher Shmulewitz, in May 2015.
The settlement ensures SciSparc retains exclusive global rights to its IP portfolio, patents, know-how, and technologies, while being released from all commitments, claims, and royalties related to the License Agreement. Dekel will take ownership of patent applications for inflammatory disorder treatments, which are unrelated to SciSparc's current pipeline.
SciSparc (Nasdaq: SPRC) has announced a significant development in its collaboration with Clearmind Medicine Inc. (Nasdaq: CMND), as Clearmind secured a patent publication in Mexico for a novel combination treatment. The patent covers the innovative combination of MDMA with N-Acylethanolamines, targeting various binge behaviors including alcohol, eating, tobacco, shopping, and sexual conduct.
The treatment combines SciSparc's N-Acylethanolamines therapy with Clearmind's MEAI (5-methoxy-2-aminoindane). This collaborative research effort has resulted in 13 patent applications filed with the U.S. Patent and Trademark Office and other global jurisdictions, demonstrating the companies' commitment to developing new therapies for disorders and rare diseases of the central nervous system.
SciSparc (Nasdaq: SPRC), a clinical-stage pharmaceutical company focused on central nervous system disorders, has received a 180-day extension from Nasdaq until July 14, 2025 to regain compliance with the minimum bid price requirement. The company must achieve a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days to meet compliance.
This extension follows an initial notification from Nasdaq on July 16, 2024, which gave SciSparc 180 days until January 13, 2025, to meet the requirement. The company was granted the additional period after meeting all other Nasdaq Capital Market initial listing requirements except the bid price rule. SciSparc has indicated its intention to cure the deficiency, including the possibility of implementing a reverse share split if necessary.
The notification has no immediate impact on SciSparc's listing status, and its shares continue trading on the Nasdaq Capital Market under the symbol 'SPRC'.
SciSparc (Nasdaq: SPRC) announced that AutoMax Motors, with which it has a pending merger agreement, received its first $13 million shipment of vehicles from JAC Motors, a Chinese automotive manufacturer. This development follows regulatory approvals for direct importation in Israel and marks AutoMax's entry into direct import and distribution operations.
JAC Motors specializes in electric vehicles (EVs), offering both passenger and commercial vehicles supported by advanced R&D and battery technologies. AutoMax aims to leverage JAC's EV lineup to meet Israel's growing demand for sustainable transportation.
SciSparc has provided financial support to AutoMax to facilitate the JAC Motors transaction. The merger agreement between SciSparc and AutoMax, signed in April 2024, is subject to shareholders' approval from both companies and would enable SciSparc's expansion into the automotive sector.
SciSparc (Nasdaq: SPRC) announced that its joint venture MitoCareX Bio is expanding into pancreatic cancer research following positive initial in-vitro results. MitoCareX, which develops cancer therapeutics targeting the mitochondrial SLC25 protein family, has successfully identified potential anti-cancer treatments through its computational drug discovery platform that screened millions of small molecules.
The expansion adds pancreatic cancer to MitoCareX's existing research on non-small cell lung cancer. The company is also developing an AI model to analyze virtual data for discovering novel anti-cancer scaffolds. The announcement highlights that pancreatic cancer, with just a 12% five-year survival rate as of 2023, is the third leading cause of cancer-related deaths in the United States, representing a significant unmet medical need.
SciSparc (Nasdaq: SPRC) and Clearmind Medicine Inc. (Nasdaq: CMND) have announced the publication of a European patent application for a novel combination therapy treatment. The patent, filed by Clearmind, covers the combination of MEAI and N-Acylethanolamines for treating various binge behaviors, including alcohol consumption, eating, tobacco use, shopping, and sexual conduct.
The collaboration between the two companies focuses on developing innovative therapies combining psychedelic molecules with N-acylethanolamines, including Palmitoylethanolamide. To date, thirteen patents related to this collaboration have been filed by Clearmind across multiple global jurisdictions, including the United States.
SciSparc (SPRC) has received renewal approval from the Israeli Medical Cannabis Agency for its clinical trial of SCI-210 in children with autism spectrum disorder (ASD). The 30-day approval will be extended pending final approval from the Israeli police department. The trial is a double-blind, randomized, placebo-controlled study at Soroka University Medical Center, involving 60 children aged 5-18 with ASD.
The study will evaluate SCI-210, a combination of CBD and CannAmide™, against standard CBD monotherapy over a 20-week treatment period. Primary efficacy metrics include the ABC-C parent questionnaire and CGI-I scale. The company plans to initially commercialize SCI-210 in Israel before expanding internationally, subject to regulatory approvals.
SciSparc (Nasdaq: SPRC) announced that AutoMax Motors, a company with which it has a pending merger agreement, received its first $13 million shipment of JAC Motors vehicles following regulatory approval for direct importation in Israel. This milestone comes after AutoMax signed distribution agreements with JAC Motors earlier in 2024. SciSparc provided financial support to AutoMax to facilitate the JAC Motors transaction. The merger agreement between SciSparc and AutoMax, signed in April 2024, would enable SciSparc's expansion into the automotive sector, subject to shareholder approval from both companies.
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