TEL AVIV, Israel, Jan. 11, 2022 /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"), announced that it has begun
to examine the possibility of including psychedelic compounds as
potential drug candidates for its intellectual property
portfolio.
Despite being heavily regulated around the world, psychedelics
have become an increasingly popular area for research. A report by
Market Digits estimates that the sector could be worth more than
$10 billion by 2027 as compared to
$4.75 billion in 2020.
Adi Zuloff-Shani, PhD, Chief Technologies Officer of SciSparc,
stated, "We have been tracking the research in psychedelics and are
encouraged by the reports which appear to be favorable,
particularly for disorders of the central nervous system. I expect
our approach has the potential to be compatible with psychedelic
compounds, so it behooves us to include them in the pool of
candidates we consider when evaluating new opportunities."
"The industry is still in its infancy, but if we are to believe
the analysts, psychedelic-centric therapies represent a significant
market opportunity and another reason it is in our interest to
establish SciSparc as a leader in the sector," Zuloff-Shani
concluded.
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,
for the treatment of obstructive sleep apnea and Alzheimer's
disease and agitation; 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 Federal
securities laws. For example, SciSparc is using forward-looking
statements when it discusses the potential inclusion of psychedelic
compounds as potential candidates for its intellectual property
portfolio and compatibility with SciSparc's approach, the future
market opportunity for psychedelics and the potential favorability
of psychedelics in addressing disorders of the central nervous
system. 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 SEC on March 30,
2021, 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.
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Investor Contact:
IR@scisparc.com
Tel: +972-3-6167055
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SOURCE SciSparc Ltd.