SciSparc Secures Strategic Advantage with Grant of European Patent
SciSparc (Nasdaq: SPRC), a clinical-stage pharmaceutical company, announced the European Patent Office granted its patent application for 'Compositions and Methods of Potentiating Antimicrobials'. This patent, which complements a similar U.S. patent, enhances SciSparc's intellectual property portfolio and competitive edge in the pharmaceutical industry. The patent covers pharmaceutical compositions combining antibiotics and cannabinoids, potentially addressing antimicrobial resistance. SciSparc is actively expanding its intellectual property globally, with recent patents in Canada and Europe, reflecting its commitment to innovation. The company’s portfolio now spans major markets including the U.S., Europe, Japan, Australia, and Israel, encompassing nine patent families and two trademarks.
- Granted European patent strengthens SciSparc's intellectual property portfolio.
- Patent complements existing U.S. patent, boosting global protection.
- Patent covers innovative combinations of antibiotics and cannabinoids.
- Potentially addresses significant issue of antimicrobial resistance.
- Recent patents in Canada and Europe indicate aggressive IP expansion.
- Portfolio spans major global markets including U.S., Europe, Japan, Australia, and Israel.
- Nine patent families and two trademarks demonstrate robust IP strategy.
- No immediate financial gains or revenue from the patent grant reported.
- Potential market adoption of the new compositions is uncertain.
- R&D and patent application processes are expensive and lengthy.
- Patent protection does not guarantee regulatory approval for commercial use.
- Focus on IP expansion might divert resources from other critical areas of the business.
SciSparc's recent European patent grant underscores its strategic commitment to intellectual property (IP) protection and bolstering its competitive position in the global pharmaceutical market. This development is particularly relevant as it pertains to addressing a substantial industry concern: antimicrobial resistance (AMR), highlighted by the World Health Organization as a serious threat. By securing patents in both the US and Europe, SciSparc is effectively fortifying its market stance, ensuring legal protection for its innovative formulations that combine antibiotics and cannabinoids.
This patent could significantly impact SciSparc's market attractiveness and potential partnerships or licensing opportunities. Given the widespread concern over AMR, the demand for effective antimicrobial therapies is expected to rise and the new patent positions SciSparc to capture a share of this growing market. Investors should note that while patents are indicative of innovation and competitive edge, they are not a guarantee of market success. Specific market factors such as regulatory approval, clinical trial outcomes and commercial adoption will ultimately determine the financial impact.
The granting of this European patent, in addition to an existing US patent, strengthens SciSparc's IP portfolio significantly. From a legal perspective, patents provide an exclusive right to prevent others from using the patented invention without permission, which can be critical in maintaining market exclusivity and potentially commanding a premium pricing for patented products. This could deter competitors and provide SciSparc with a stronger negotiating position in potential licensing deals or partnerships.
However, it is essential to consider that patents also come with responsibilities, including defensive measures to protect against IP infringement and ongoing compliance with international patent laws. Additionally, the expansive nature of their IP in multiple territories adds layers of legal complexity and cost. Retail investors should weigh these aspects carefully when evaluating the potential long-term benefits of this patent grant.
From a financial perspective, the patent grant in Europe serves as an intangible asset that enhances SciSparc's valuation by solidifying its intellectual property base. It also signifies potential future revenue through licensing agreements, royalties, or partnerships, especially as the company targets the growing concern over antimicrobial resistance. This strengthens SciSparc’s potential for monetizing its innovations and achieving a return on investment for its shareholders.
Nevertheless, investors should be cautious and consider the cost implications of advancing patented technologies to market, including the substantial investments needed for clinical trials, regulatory approvals and eventual commercialization. The company's current
TEL AVIV, Israel, May 31, 2024 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) (“Company” or “SciSparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders and rare diseases of the central nervous system, announced today that the European Patent Office granted the Company’s patent application titled “Compositions and Methods of Potentiating Antimicrobials”. This is in addition to the patent titled “Compositions and Methods of Potentiating Antimicrobials” previously granted by the United States Patent and Trademark Office. This patent grant bolsters the Company's intellectual property portfolio, extending the protection of its global patent holdings.
This grant not only reinforces SciSparc’s position in a key market, but also enhances its competitive edge in the global pharmaceutical landscape.
The patent describes the pharmaceutical compositions and methods for potentiating various antimicrobials and minimizing their side-effects. In particular, the invention relates to pharmaceutical compositions comprising antibiotics and cannabinoids, and optionally N-acylethanolamines, and use in treating and/or preventing microbe biofilm formation and microbe-induced pathologies. This innovation is important in the context of antimicrobial and antibiotic resistance, a situation that has led the World Health Organization to classify such antimicrobial resistance as a serious threat.
SciSparc has been expanding its intellectual property portfolio, with significant patents recently granted in Canada and Europe, since the beginning of the year. This aggressive expansion emphasizes SciSparc's commitment to securing its innovative technologies globally and highlights the Company’s dynamic approach to research and development. This addition marks another milestone in SciSparc's ongoing efforts to safeguard its core technologies. The Company's intellectual property portfolio now includes patents across several major global territories, including the United States, Europe, Japan, Australia, and Israel, comprising nine patent families and two trademarks.
About SciSparc Ltd. (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 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 ASD and status epilepticus. The Company also owns a controlling interest in a subsidiary whose business focuses on the sale of hemp seeds oil-based products on the Amazon.com Marketplace.
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 uses forward-looking statements when it discusses SciSparc’s competitive edge in the market and the Company’s ongoing efforts to safeguard its core technologies. 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, as amended, filed with the SEC on April 1, 2024, and in subsequent filings with the U.S. Securities and Exchange Commission. 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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