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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 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.
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.
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