SciSparc Reinforces its New JV for Targeting Discovery with a Global Expert in the Field of Mitochondrial Transport Proteins
SciSparc Ltd. (Nasdaq: SPRC) announced the appointment of Prof. Ciro Leonardo Pierri as a special advisor for MitoCareX Bio Ltd., its new joint venture focused on drug development for cancers and infectious diseases. Prof. Pierri, a biochemist from the University of Bari, Italy, brings expertise in structural biology and molecular modeling. The JV aims to explore mitochondrial carriers' roles in disease treatment, building on successful proof-of-concept experiments in the UK. SciSparc is engaged in cannabinoid-based drug development, targeting conditions like Tourette syndrome and Alzheimer’s disease.
- Appointment of Prof. Ciro Pierri enhances expertise in drug development.
- Joint venture MitoCareX Bio focusing on cancers and infectious diseases offers potential growth opportunities.
- Research on mitochondrial carriers may lead to innovative treatment approaches.
- No specific financial metrics or projections provided regarding the joint venture.
- Dependence on the success of early-stage research could pose risks.
JV Targets Potential Drugs for Cancers and Infectious Diseases
Tel Aviv, Israel, June 15, 2022 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) (the "Company" or "SciSparc"), a specialty, clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, today announced the appointment of Prof. Ciro Leonardo Pierri as special advisor for MitoCareX Bio Ltd. ("MitoCareX Bio"), SciSparc’s recently established joint venture ("JV") for the discovery and development of potential drugs for cancers, infectious diseases and other life-threatening conditions.
Prof. Pierri is a biochemist and serves as an associate professor at the University of Bari, Italy. Prof. Pierri has a broad background in chemistry and biochemistry, with specific expertise in key research areas of structural biology, molecular modeling, and cell physiology. Prof. Pierri’s work has been published in many scientific papers.
“This is an exciting period,” said Prof. Pierri. “During the last decade, multiple studies have shown the involvement of mitochondrial carriers (i.e., transporters) in various types of diseases, which makes them interesting research candidates. MitoCareX Bio has taken a step forward, trying to discover potential small molecules that can specifically interact with those carriers and by that to possibly attenuate the disease progression,” concluded Prof. Pierri.
The JV focuses on investigating mitochondrial carriers, as the transport of proteins is crucial for cell viability. Because of mitochondrial carriers' significant role in transporting necessary metabolites for cell functioning across the inner mitochondrial membranes, the Company believes that various infectious diseases and life-threatening conditions, such as cancers, might be treated by regulating the function of mitochondrial carriers. In humans, the mitochondrial carrier family (Solute Carrier Family 25, SLC25) consists of 53 members and is the largest solute transporter family.
MitoCareX Bio's innovative research will partly build upon successful proof-of-concept experiments performed in the UK.
About SciSparc (NASDAQ: SPRC):
SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. SciSparc’s focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company is currently engaged in the following drug development programs based on THC and/or non-psychoactive cannabidiol (CBD): SCI-110 for the treatment of Tourette syndrome, for the treatment of Alzheimer's disease and agitation; SCI-160 for the treatment of pain; and SCI-210 for the treatment of autism spectrum disorder and status epilepticus. Learn more at https://scisparc.com/.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, SciSparc is using forward-looking statements when it discusses the focus of its JV on discovery, research and development of potential drugs for infectious diseases, cancers and other life- threatening conditions and in investing in new innovative research on mitochondrial carriers and the impact on treatment of cancers and other life-threatening conditions. Historic results of scientific research and clinical and preclinical trials do not guarantee that the conclusions of future research or trials will suggest identical or even similar conclusions. Because such statements deal with future events and are based on SciSparc's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of SciSparc could differ materially from those described in or implied by the statements in this press release. The forward- looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in SciSparc's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 28, 2022, and in subsequent filings with the SEC. Except as otherwise required by law, SciSparc disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.
Investor Contact:
IR@scisparc.com
Tel: +972-3-6167055
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