SciSparc Reinforces its New JV for Targeting Discovery with a Global Expert in the Field of Mitochondrial Transport Proteins
June 15 2022 - 8:30AM
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
SciSparc (NASDAQ:SPRC)
Historical Stock Chart
From Mar 2024 to Apr 2024
SciSparc (NASDAQ:SPRC)
Historical Stock Chart
From Apr 2023 to Apr 2024