SciSparc Ltd. Ordinary Shares - SPRC STOCK NEWS

SciSparc Ltd. (Nasdaq: SPRC) announced the successful establishment of its MitoCareX Bio joint venture's cloud-based computing infrastructure, a key milestone under the March 2022 agreement. This development aims to enhance drug discovery for cancer and rare diseases by utilizing machine learning to investigate mitochondrial carriers. Following this achievement, SciSparc will invest an additional $400,000, increasing its ownership in MitoCareX Bio from 31.48% to 41.92%. The venture is currently advancing its computational drug discovery platform, supported by previous successful proof-of-concept experiments in the UK.

SciSparc Ltd. (Nasdaq: SPRC), a clinical-stage pharmaceutical company, announced on Feb 15, 2023, the filing of three provisional patent applications by its collaborator, Clearmind Medicine Inc. (Nasdaq: CMND). These patents cover innovative combinations of psychedelic compounds such as LSD, psilocybin, and DMT with SciSparc's CannAmide™. The collaboration aims to develop therapies for alcohol use disorder, cocaine addiction, and obesity. CEO Oz Adler expressed confidence in the partnership, highlighting CannAmide™'s ability to enhance treatment efficacy while minimizing dosages.

SciSparc Ltd. (Nasdaq: SPRC), a clinical-stage pharmaceutical company, announced a restructuring plan to transfer its pharmaceutical operations to a new wholly-owned subsidiary. This move aims to facilitate a possible public listing of the subsidiary while retaining a controlling interest in its core activities. The restructuring is expected to enhance value creation opportunities and allow SciSparc to explore new investments across various sectors. The company is currently developing cannabinoid-based therapies targeting disorders such as Tourette Syndrome, Alzheimer's disease, pain management, and autism spectrum disorder.

SciSparc Ltd. (Nasdaq: SPRC) is evaluating measures to address potential illegal short sales affecting its ordinary shares. The company's board believes these actions have artificially depressed its stock price. To combat this, SciSparc plans to engage third-party professionals to analyze trading patterns, following the lead of companies like Helbiz and Genius Group. The firm continues focusing on its clinical-stage pharmaceutical development initiatives, particularly therapies for central nervous system disorders such as Alzheimer's and Tourette syndrome.

SciSparc Ltd. (Nasdaq: SPRC) has received approval from Soroka University Medical Center to conduct a clinical trial for its proprietary treatment SCI-210 in patients with autism spectrum disorder (ASD). The trial, approved by the Israeli Ministry of Health and the Ethics Committee, will evaluate the safety and efficacy of SCI-210, a combination of cannabidiol and CannAmide™, in comparison to CBD monotherapy. This randomized, double-blind, placebo-controlled study will involve 60 children over 20 weeks, focusing on several key efficacy endpoints, including behavior assessments and therapeutic dosing.

SciSparc Ltd. (Nasdaq: SPRC) has announced promising results from pre-clinical studies on its collaboration with Clearmind Medicine Inc. regarding the drug candidate MEAI for cocaine addiction treatment. The studies indicate that MEAI may effectively reduce cravings without disrupting natural reward processes.

Conducted by Professor Gal Yadid at Bar Ilan University, the research suggests MEAI maintains natural rewards while addressing drug-seeking behavior. A provisional patent application for MEAI’s use in treating cocaine addiction was filed in June 2022, linking SciSparc's CannAmide™ with Clearmind’s MEAI.

SciSparc Ltd. (Nasdaq: SPRC) has received approvals from the Israeli Ministry of Health and the Ethics Committee of Soroka Medical Center to conduct a clinical trial for its proprietary treatment SCI-210 aimed at autism spectrum disorder (ASD). This study will compare SCI-210, a mix of cannabidiol and CannAmide™, against CBD monotherapy. The randomized, double-blind trial will involve 60 children over 20 weeks and focus on safety, tolerability, and efficacy using various measurement tools. The agreement with Soroka Medical Center highlights the company's commitment to advancing clinical programs alongside its other trials for Tourette syndrome and Alzheimer's disease.

SciSparc Ltd. (Nasdaq: SPRC) announced promising pre-clinical results in collaboration with Clearmind Medicine Inc. for treating obesity and metabolic disorders using a novel psychedelic molecule, MEAI. The study showed that MEAI led to a 20% weight loss in rodents while preserving lean mass. Additionally, this treatment improved insulin levels and glucose tolerance. SciSparc aims to penetrate the obesity treatment market projected to grow from $2.4 billion in 2022 to $54 billion by 2030. This collaboration highlights the potential for developing a significant drug candidate in an underserved market.

SciSparc Ltd. (Nasdaq: SPRC) announced a non-binding letter of intent to sell a 50% stake in its subsidiary, SciSparc Nutraceuticals Inc., which owns the Wellution^TM brand, to Jeffs' Brands Ltd. for $3 million. The transaction is contingent on a definitive agreement. The company also plans to establish a joint venture with Jeffs' Brands for a new line of food supplements. Wellution^TM is a leading seller on Amazon with over 40,000 product reviews, primarily rated highly.