SciSparc Granted Another Patent, Strengthening its Core Technology in Canada
TEL AVIV, Israel, March 18, 2024 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) (“Company” or “SciSparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders and rare diseases of the central nervous system, today announced that it has been granted a patent for its core-technology, the combination of cannabinoids and n-acylethanolamines, by the Canadian Intellectual Property Office (the “Patent”). The Patent aligns seamlessly with the Company's proprietary technology and is designed to enhance the safety of cannabinoids by using low dosages of active components while maintaining their therapeutic benefits.
This patent grant adds to the patent portfolio of the Company, thereby supporting the innovation of SciSparc’s technologies.
Oz Adler, CEO of SciSparc, commented, “With this patent, we continue to strengthen our global intellectual property rights. SciSparc is a unique company in the cannabis space. We believe we are building value for our investors, as the Company continues to develop technologies for the treatment of central nervous system disorders."
The Patent covers the compositions and methods for potentiating therapeutic effects and/or reducing the side-effects of selected cannabinoids initially discovered in the cannabis plant. The Patent was granted on account of the unique composition of cannabinoids and n-acylethanolamines and the methods for their use in preventing and treating a variety of cannabinoid-treated conditions.
About SciSparc Ltd. (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 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 ASD and status epilepticus. The Company also owns a controlling interest in a subsidiary whose business focuses on the sale of hemp seeds oil-based products on the Marketplace.
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 Company’s continued effort to strengthen its global intellectual property rights; its belief that its is building value for its inestors; and that it continues to develop technologies for the treatment of central nervous system disorders. 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 May 1, 2023, 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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