SciSparc Ltd. Ordinary Shares - SPRC STOCK NEWS

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.

SciSparc (Nasdaq: SPRC) has signed an amendment to its non-binding letter of intent (LOI) to spin off its pharmaceutical portfolio through a reverse merger with Miza III Ventures Inc. (TSXV: MIZA.P). The deal values SciSparc's pharmaceutical assets at approximately US$11.6 million, while Miza's enterprise value is set at US$3.3 million.

The deadline for finalizing the definitive agreement has been extended to March 31, 2025, with transaction closing targeted for April 30, 2025. SciSparc would receive 63,300,000 Miza common shares and up to 48,000,000 contingent rights, resulting in a controlling stake of 75-84.53% in the merged entity.

The portfolio includes clinical trials for SCI-110 (Tourette syndrome and Alzheimer's) and SCI-210 (autism).

SciSparc (Nasdaq: SPRC) has received FDA approval to proceed with its Phase IIb clinical trials in the U.S. for SCI-110, a potential breakthrough treatment for Tourette Syndrome (TS) in adults. This approval comes just one month after the application submission, marking a significant milestone for the company. The trial will be conducted at three leading centers: Yale Child Study Center, 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 primary efficacy objective is to assess tic severity change using the Yale Global Tic Severity Scale at weeks 12 and 26 compared to baseline. SciSparc's CEO, Oz Adler, emphasized the unmet medical need for TS management and highlighted the promising results from their Phase IIa trial, which showed an average tic reduction of 21% across the entire sample.

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.