SciSparc Advances New Treatment for Tourette Syndrome
SciSparc Advances Clinical Trials for Tourette Syndrome
SciSparc Ltd. (NASDAQ: SPRC), a pharmaceutical company focused on treatments for central nervous system disorders, has recently made strides in its phase IIb clinical trial for SCI-110, designed to address Tourette Syndrome (TS). This initiative involves submitting an Investigational New Drug application to the U.S. Food and Drug Administration, signaling a significant step forward in combating this neurological disorder.
Details of the Clinical Trial
The clinical trial is set to take place at three esteemed institutions, providing a broad spectrum of research environments. The participating sites include the Yale Child Study Center, Hannover Medical School, and Tel Aviv Sourasky Medical Center. Participants will range in age from 18 to 65 and will be randomly assigned to either receive SCI-110 or a placebo, ensuring a double-blind setup that enhances the reliability of the results.
Trial Objectives and Measures
The primary goal of this clinical trial is to evaluate the efficacy, safety, and tolerability of SCI-110. Researchers will measure changes in tic severity using the Yale Global Tic Severity Scale, focusing specifically on data collected at 12 and 26 weeks. This targeted approach aims to gather substantial evidence regarding the potential effectiveness of the drug in managing Tourette Syndrome.
Necessary Approvals and Collaborations
To proceed with the clinical trial, SciSparc has acquired all necessary approvals from the Institutional Review Board at each clinical site, along with endorsements from health authorities. These approvals underscore the meticulous planning and regulatory compliance that are essential before embarking on such impactful research.
Broader Focus on Neurological Disorders
In addition to their efforts on SCI-110, SciSparc is actively developing treatments for a range of other central nervous system conditions, including Alzheimer's disease, Autism Spectrum Disorder (ASD), and status epilepticus. The company's commitment to cannabinoid pharmaceuticals allows them to pursue diverse treatment avenues that leverage the therapeutic potential of cannabis compounds.
Recent Financial Developments
In recent financial news, SciSparc resolved to extend an additional $1.85 million bridge loan to AutoMax Motors Ltd., raising the total loan amount to $4.25 million. This funding arrangement negates the need for earlier closing financing previously agreed upon in their merger plans. Furthermore, a patent license agreement with Polyrizon Ltd. related to the SCI-160 program was finalized, which could potentially bring in $3 million in securities and additional milestone fees.
New Clinical Trials Initiated
SciSparc has also commenced a clinical trial for its proprietary therapy, SCI-210, which targets symptoms of autism spectrum disorder in children. This initiative reflects the company’s dedication to expanding its clinical programs to meet various health needs.
Collaborations and Expert Appointments
Moreover, the partnership with Clearmind Medicine Inc. has yielded promising results from studies aimed at tackling obesity and metabolic syndrome. Additionally, the recent appointment of Professor Nir Peled, a distinguished oncologist, to the scientific advisory board of SciSparc’s cancer-focused venture, MitoCareX Bio Ltd., highlights the company’s focus on enhancing its research capabilities.
Understanding the Financial Landscape
As SciSparc pursues the clinical trials for SCI-110, the financial conditions surrounding the company present a compelling background for potential investors. The company boasts more cash than debt on its balance sheet, providing a layer of stability as they navigate ongoing clinical trials.
Market Performance Insights
Currently, SciSparc operates as a micro-cap stock with a market capitalization of $0.94 million. Recent revenue figures suggest a growth trajectory, with a yearly revenue of $2.88 million, despite a reported quarterly decline. The challenge remains to maintain profitability amid fluctuating market conditions.
Frequently Asked Questions
What is SCI-110?
SCI-110 is a drug candidate developed by SciSparc Ltd. aimed at treating Tourette Syndrome through a phase IIb clinical trial.
Where is the clinical trial for SCI-110 being conducted?
The trial is being conducted at Yale Child Study Center, Hannover Medical School, and Tel Aviv Sourasky Medical Center.
How is the efficacy of SCI-110 measured in trials?
The efficacy is measured using the Yale Global Tic Severity Scale at 12 and 26 weeks into the trial.
Is SciSparc involved in other research areas?
Yes, SciSparc is also developing treatments for Alzheimer's disease and Autism Spectrum Disorder, among others.
What recent financial moves has SciSparc made?
SciSparc recently extended a $1.85 million loan to AutoMax Motors and began a patent agreement with Polyrizon Ltd. that could yield $3 million.
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