SciSparc Ltd. Ordinary Shares - SPRC STOCK NEWS

SciSparc Ltd. (NASDAQ: SPRC) announced positive pre-clinical results in its collaboration with Clearmind to treat cocaine addiction using MEAI, a novel psychedelic molecule. The study revealed that 60% of subjects experienced a significant decrease in cocaine craving, showcasing the potential of the CannAmide™ and MEAI combination. The pre-clinical trial, led by Professor Gal Yadid at Bar Ilan University, suggests a promising path for targeted addiction treatment. The companies have filed provisional patent applications to enhance their therapeutic approaches.

SciSparc Ltd. (Nasdaq: SPRC) announced the full exercise of 3,211,100 pre-funded warrants, part of a $10 million private placement from June 2022. These warrants were exercised at a nominal price of $0.001 each, resulting in the issuance of 3,211,100 ordinary shares. SciSparc, a clinical-stage pharmaceutical company, focuses on cannabinoid-based therapies for central nervous system disorders, including drug development programs for Tourette Syndrome, Alzheimer's disease, pain, and autism spectrum disorder.

SciSparc Ltd. (NASDAQ: SPRC) has signed an escrow agreement following a non-binding letter of intent (LOI) to acquire a top-seller Amazon.com account and related brand from Merhavit M.R.M. Holding and Management Ltd for an initial $1 million deposit. If a definitive agreement is reached, the deposit will contribute to the total purchase. The LOI also includes provisions for management and distribution agreements to enhance product commercialization and expand into new markets. If no agreement is finalized, SciSparc incurs a $50,000 cost but will recover $950,000.

SciSparc Ltd. (NASDAQ: SPRC) has signed a non-binding letter of intent to acquire a top-selling Amazon seller account and a food supplements and cosmetics brand from Merhavit M.R.M Holding. The acquisition includes a management agreement and a distribution agreement, with a base payment of $4.59 million and potential additional payments based on the brand's EBITDA. The deal may enhance SciSparc's market presence and manufacturing capabilities, as the global Industrial Hemp market is projected to grow significantly from $4.1 billion in 2021 to $16.7 billion by 2030.

SciSparc Ltd. (NASDAQ: SPRC) has secured a new patent in Israel for its innovative technology targeting central nervous system disorders. This patent protects pharmaceutical compositions featuring cannabinoids and N-acylethanolamines, aiming to treat various conditions. This milestone marks the fifth patent related to its core technology, reinforcing the company's strong intellectual property portfolio, previously recognized in the U.S., Australia, and Japan. CEO Adi Zuloff-Shani emphasized the importance of this development in distinguishing SciSparc within the pharmaceutical sector.

SciSparc Ltd. (Nasdaq: SPRC) announced the addition of the Yale Child Study Center to its Phase IIb clinical trial for SCI-110, targeting Tourette Syndrome (TS). This site joins Hannover Medical School and Tel Aviv Sourasky Medical Center in the multinational trial. The trial aims to evaluate the efficacy and safety of SCI-110, with positive Phase IIa results showing a 21% reduction in tic symptoms among medication-refractory patients. The trial's data will qualify for submissions to the FDA and EMA, reflecting strong potential for regulatory approval.

SciSparc Ltd. (Nasdaq: SPRC) has initiated preparations for an Investigational New Drug Application (IND) with the FDA for a Phase IIb clinical trial of its drug, SCI-110, targeting Tourette Syndrome (TS). Following promising Phase IIa trial results showing a 21% reduction in tic symptoms among treatment-resistant patients, the company aims to expand clinical sites to the U.S. Approval has been granted by two medical centers in Germany and Israel to participate in the upcoming trial, which will evaluate treatment efficacy and safety.

SciSparc Ltd. (Nasdaq: SPRC) announced the launch of its new advanced facility in Ness-Ziona Science Park, Israel, through its joint venture MitoCareX Bio, aimed at developing anti-cancer drug candidates. This facility underscores the company’s commitment to addressing the global cancer crisis, which accounted for nearly 10 million deaths in 2020. MitoCareX Bio will focus on mitochondrial carriers critical for cell viability and is enhancing its computational drug discovery capabilities, building upon successful proof-of-concept research conducted in the U.K.

SciSparc Ltd. (Nasdaq: SPRC) has announced a $1 million share buyback program, aimed at enhancing shareholder value. The program will require court approval in Israel and is contingent upon the formal approval of financial statements for the six months ending June 30, 2022. The company is engaged in developing cannabinoid-based therapies targeting conditions such as Tourette syndrome, Alzheimer's disease, and autism spectrum disorder. This move reflects SciSparc's commitment to delivering shareholder returns amidst ongoing clinical trials.