SciSparc Licenses Pain Therapy to Biotech Co. for $6M
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SciSparc Finalizes Exclusive License Agreement
SciSparc Ltd. (Nasdaq: SPRC), a specialty clinical-stage pharmaceutical company focused on treating disorders of the central nervous system, has announced that it has completed an Exclusive Patent License Agreement with Polyrizon Ltd. This agreement allows Polyrizon to develop and sublicense SciSparc's SCI-160 program, which is primarily designed to address pain management.
Details of the Licensing Deal
Under this agreement, SciSparc is set to receive consideration valued at $3 million in Polyrizon securities. Additionally, should certain development milestones be met, it could earn milestone fees of approximately $3 million in cash. These terms indicate a significant recognition of the value of SciSparc's proprietary technology in the pain treatment domain.
Composition and Effectiveness of SCI-160
SCI-160 is a cutting-edge synthetic combination of cannabinoids and N-acylethanolamines, targeting pain treatment. Previous pre-clinical studies have shown that this combination mediates analgesic effects within the peripheral nervous system without producing significant side effects, benefiting both acute and chronic pain sufferers.
Comparison with Traditional Pain Management Solutions
Importantly, SCI-160 has demonstrated a favorable tolerance profile, showing no significant adverse clinical effects. Studies have indicated that its analgesic effect could match and, in some cases, exceed the potency of high-dose morphine. This becomes even more crucial as the abuse of prescription opioids poses escalating public health risks.
Impact of the License Agreement
The granting of global rights for the SCI-160 program to Polyrizon is a strategic move for SciSparc. With Polyrizon's expertise and resources in drug development, this collaboration aims to expedite the commercialization of SCI-160, ultimately leading to the availability of effective pain management solutions.
About SciSparc Ltd.
SciSparc Ltd. is an innovative clinical-stage pharmaceutical company that develops cannabinoid-based therapies. Their portfolio includes several promising drug development programs, including SCI-110, for treating Tourette Syndrome and Alzheimer's disease; SCI-160 for pain management; and SCI-210 for treating autism and status epilepticus. Additionally, the company has a controlling interest in a subsidiary that sells hemp seed oil-based products on popular marketplaces.
Importance of Continued Research
As cannabinoids continue to gain attention for their therapeutic benefits, ongoing research and development remain paramount. SciSparc's engagement in developing cannabinoid pharmaceuticals positions the company favorably in an evolving landscape of pain management therapies, reflecting their commitment to improving patient outcomes.
Future Prospects
With the execution of this license agreement, SciSparc opens the door for additional collaborations, potential revenue streams, and the advancement of promising treatments in the field of pain management. The company’s leadership, including CEO and CFO Mr. Oz Adler, is dedicated to steering SciSparc towards innovative solutions that cater to unmet medical needs.
Frequently Asked Questions
What is the SCI-160 program?
SCI-160 is a proprietary pain therapy product developed by SciSparc, utilizing cannabinoids and N-acylethanolamines.
How much is the licensing deal worth?
The licensing agreement with Polyrizon is valued at up to $6 million, including $3 million in securities and potential milestone payments.
What conditions does SCI-160 aim to treat?
SCI-160 is designed to treat various pain conditions, focusing on both acute and chronic pain relief.
Who is SciSparc Ltd.?
SciSparc Ltd. (Nasdaq: SPRC) is a clinical-stage pharmaceutical company dedicated to developing cannabinoid-based therapies for mental and central nervous system disorders.
How does SCI-160 compare to opioids?
SCI-160 has shown comparable analgesic effects to high-dose morphine without the significant risk of adverse effects commonly associated with opioids.
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