TEL AVIV, Israel, Dec. 29, 2021 /PRNewswire/ -- SciSparc Ltd.
(NASDAQ: SPRC), a specialty, clinical-stage pharmaceutical company
focusing on the development of therapies to treat disorders of the
central nervous system (the "Company" or "SciSparc"), today
provides updates regarding its activities in 2021.
Itzhak Shrem, Chairman of the
board of SciSparc, said, "We are excited to conclude a very
eventful and successful year. We reached several important
milestones, among them the uplisting of our ordinary shares to the
Nasdaq Capital Market."
"Looking forward to 2022, we are aiming to show progress in
our clinical programs in Tourette Syndrome (TS),
Alzheimer's disease (AD) and Agitation and Autism
Spectrum Disorder (ASD). We are planning
on expanding our partners network and continuing to raise awareness
of our unique technologies and novel treatments by showcasing them
in leading events worldwide. We plan on strengthening our
professional team and advisory board as well as increasing exposure
to investors in North
America," added Amitai Weiss, Chief Executive Officer of
SciSparc.
In 2021, the Company completed a corporate rebranding that
better represent its current business focus and listed its ordinary
shares on the Nasdaq Capital Market.
Financing:
During 2021, the Company raised more than $8
million from institutional and accredited investors in a private
placement.
IP Protection:
During 2021, the Company was awarded two patents from the
Australian Patent Office and one from the Japanese Patent Office
concerning the proprietary compounds and methods underlying the
Company's core technologies: Pharmaceutical compositions comprising
cannabinoids and N-acylethanolamines, and methods for their use in
preventing and treating a variety of cannabinoid-treatable
conditions.
Pipeline Status:
SCI–110 for Tourette Syndrome- Towards Phase IIb Clinical
Trial
During 2021, the Company announced a number of updates regarding
its Phase IIb clinical study in TS using the proprietary
cannabinoid-based treatment- SCI-110. The study will be led by
Prof. Kirsten Mueller- Vahl from
Hanover Medical School. The Company has begun preparations that
will facilitate the commencement of the clinical study and engaged
with a contract research organization (CRO) to provide support for
the trial. In addition, SciSparc had established its supply chain
infrastructure for the manufacturing and delivering of the SCI-110
drug.
Also, the Company announced the publication of a manuscript by
Dr. Michael. H Bloch et al. The manuscript teaches the uses of its
proprietary drug candidate SCI-110 for TS as demonstrated in
a study conducted at the Department of Psychiatry, and the
Child Study Center at Yale University
in New Haven, Connecticut,
USA.
SCI–110 for Alzheimer's disease and Agitation- Towards Phase
IIa Clinical Trial
During 2021, the Company received approval from the Israeli
Ministry of Health and Helsinki Committee to commence a Phase IIa
Clinical Trial of SCI-110 in patients with AD and Agitation.
The Company signed an agreement with The Israeli Medical Center
for Alzheimer's to conduct a Phase IIa clinical trial to evaluate
the safety, tolerability and efficacy of SCI-110 in patients with
AD and agitation using the Company's proprietary drug
candidate.
SCI–210 for Status Epilepticus
During 2021, the Company announced it has entered an agreement
with The Sheba Fund for Health Services and Research, to perform a
pre-clinical study for the evaluation of the Company's SCI-210 drug
development program, a proprietary novel pharmaceutical preparation
containing non-psychoactive cannabinoid cannabidiol (CBD) and
palmitoylethanolamide (PEA) for the treatment of Status Epilepticus
(SE). The study, which is led by Prof. Nicola Maggio, a senior neurologist and a
neuroscientist at the Chaim Sheba Medical Center, was already
initiated after SciSparc received all the necessary approvals,
including the Israeli Medical Cannabis Unit (IMCA) as well as the
ethical committee approval.
SCI-160 for Pain
In 2021, the Company announced positive top-line results for its
proprietary compound, SCI-160, in a controlled pre-clinical trial
on neuropathic and post-operative pain. The study was conducted at
the University of Calgary under the
leadership of Dr. Tuan Trang,
Associate Professor in the Department of Comparative Biology &
Experimental Medicine, a renowned researcher in the clinical
management of pain conditions.
About SciSparc (NASDAQ:SPRC):
SciSparc Ltd. is a specialty clinical-stage pharmaceutical
company led by an experienced team of senior executives and
scientists. Our 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
and for the treatment of obstructive sleep apnea; SCI-160 for the
treatment of pain; and SCI-210 for the treatment of autism spectrum
disorder and epilepsy.
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 U.S. federal
securities laws. For example, SciSparc is using forward-looking
statements when it discusses the expected medical benefits of its
therapeutics and drug candidates, its plans to expand its partners
network and progress its clinical programs for TS, AD and
Agitation, SE and pain, its plans to raise awareness of its
technologies and novel treatments by showcasing them in leading
events worldwide and its plans to strengthen its professional team
and advisory board as well as increase exposure to investors in
North America. 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 March 30, 2021,
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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SOURCE SciSparc Ltd.