SciSparc to Collaborate with Polyrizon for Brain Targeting Using Intranasal Hydrogel Systems
May 31 2022 - 8:30AM
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 announced it has signed a collaboration
agreement with Polyrizon Ltd., a biotech company focused on the
development of innovative medical device hydrogels delivered in the
form of nasal sprays (“Polyrizon”).
As part of the collaboration, the two companies will work to
develop a unique technology for the treatment of pain, based on
SciSparc's SCI-160 platform and Polyrizon’s Trap and TargetTM
intranasal drug delivery technology to target the central nervous
system.
SciSparc’ s top-tier investigational drug candidate, SCI-160, is
an innovative and proprietary, non-opioid, CB2 receptor (“CB2R”)
agonist intended for the treatment of pain. This specific CB2R
agonist was synthesized by Professor Raphael Mechoulam, Ph.D.
CB2R specific agonists have been found to be involved in
mediating analgesic effects in the peripheral nervous system,
without psychotropic activity or significant side effects.
The Trap and TargetTM platform is designed to allow a long
residence time, sustained release and intimate contact with the
mucosal tissue for a targeted intranasal delivery of drugs, which
primarily allows drug entry to the brain directly through the
olfactory and trigeminal nerve pathways for therapeutic
purposes.
By using this state-of-the-art drug delivery technology with
SciSparc’s proprietary SCI-160 platform, the goal of the
collaboration is to develop a proprietary intranasal formulation
aimed at maintaining effective concentrations of SCI-160 in the
brain to significantly relieve pain.
Dr. Adi Zuloff-Shani, SciSparc's Chief Technologies Officer,
commented "SciSparc’s objective to revolutionize cannabinoids
treatment and to develop best in class therapies continues with
this collaboration agreement as we work to develop effective
approaches to intranasal drug delivery, which is one of the
preferred delivery options for targeting the brain. Partnering with
Polyrizon and taking advantage of their innovative delivery
technology may create mutual opportunities to develop treatments
for pain."
Under the collaboration agreement, SciSparc will pay development
fees to Polyrizon up to a total of $2,550,000 upon the completion
of certain milestones, as well as royalties in the low single
digits upon sales of products under the agreement and additional
royalties for sales under any sublicense by SciSparc.
SciSparc has previously achieved positive results in a series of
pre-clinical trials in which the efficacy and safety of SCI-160 was
demonstrated in both acute and chronic pain. Moreover, results of
the studies showed not only that the drug was well tolerated and
did not cause any significant adverse clinical effects, but
efficacy studies demonstrated the analgesic superiority of SCI-160
over control and were comparable to high-dose morphine analgesic
effects, and in some instances exerted greater potency.
Oz Adler, SciSparc's Chief Executive Officer, is a member of the
board of directors of Polyrizon.
About SciSparc Ltd.
(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 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.
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 benefits of the
collaboration with Polyrizon, potential milestone payments and
royalties and development of a proprietary intranasal formulation
aimed at maintaining effective concentrations of SCI-160 in the
brain to significantly relieve pain. 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 April 28, 2022, 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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