SciSparc Granted Another Patent, Strengthening its Core Technology in Canada
SciSparc (Nasdaq: SPRC) secures a patent for its core technology combining cannabinoids and n-acylethanolamines from the Canadian Intellectual Property Office. The patent aims to enhance the safety of cannabinoids with low dosages while maintaining therapeutic benefits, supporting the company's innovative technologies for central nervous system disorders.
The recent patent grant for SciSparc Ltd.'s core technology represents a significant milestone in the company's pursuit to secure its intellectual property and enhance its market position. The patent for the combination of cannabinoids and n-acylethanolamines is potentially transformative, as it promises to improve the safety profile of cannabinoid therapies by reducing required dosages. This could be a game-changer in the pharmaceutical industry, particularly within the niche of central nervous system disorders, where treatment options are often limited and can carry substantial side effects.
From an investor's perspective, the strengthening of SciSparc's patent portfolio could be a positive signal, indicating a commitment to innovation and a proactive approach to protecting their technology. This may increase investor confidence and could potentially lead to partnerships or licensing deals, which are common revenue streams for clinical-stage pharmaceutical companies. However, the actual impact on the company's financials will depend on the successful development and commercialization of the therapies leveraging this patent. It is also essential to monitor how this patent will fare against competitors' technologies and whether it will withstand legal challenges in the future.
The grant of a patent by the Canadian Intellectual Property Office to SciSparc Ltd. is an important event that could have implications for the biotech market, particularly within the segment of central nervous system (CNS) disorders. The CNS market is characterized by a high degree of unmet medical need and innovations in this space are closely watched by investors and industry stakeholders. The company's focus on low-dosage, high-safety cannabinoid therapies could tap into the growing demand for treatments with improved side effect profiles.
Looking at market trends, there is increasing interest in cannabinoid-based therapies and patents such as this could position SciSparc favorably in the market. The potential to potentiate therapeutic effects while reducing side effects could make SciSparc's technology attractive for strategic partnerships. However, the long-term impact on the stock market will largely depend on the outcomes of clinical trials, regulatory approvals and market acceptance of the product. It's also worth noting that the patent's life span and the company's ability to maintain exclusivity through it will play a critical role in the long-term value proposition of this intellectual property.
The announcement of a patent grant is just one piece of the puzzle in the clinical development process. For SciSparc and its stakeholders, the real test will be in the translation of this patent into viable, marketable treatments. Clinical trials are the next step for the company to demonstrate the efficacy and safety of its patented technology. The ability to use lower dosages without compromising therapeutic benefits could potentially lead to better patient adherence and outcomes, which is particularly important in the treatment of CNS disorders.
Investors should be aware that clinical trials are complex, costly and time-consuming and there are many hurdles before a product reaches the market. Additionally, the patent does not guarantee commercial success; the company must navigate the regulatory landscape and demonstrate clear benefits over existing treatments. The success in clinical trials will have a significant impact on the company's valuation and its ability to attract further investment or pharmaceutical partnerships.
03/18/2024 - 07:29 AM
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 Amazon.com 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.
Investor Contact:IR@scisparc.com
What is the ticker symbol for SciSparc mentioned in the press release?
The ticker symbol for SciSparc is SPRC.
What type of patent has SciSparc been granted by the Canadian Intellectual Property Office?
SciSparc has been granted a patent for its core technology, the combination of cannabinoids and n-acylethanolamines.
What are the benefits of the patent granted to SciSparc ?
The patent aims to enhance the safety of cannabinoids by using low dosages while maintaining therapeutic benefits, supporting the company's technologies for central nervous system disorders.
Who is the CEO of SciSparc and what is their comment on the patent grant?
Oz Adler is the CEO of SciSparc He commented, 'With this patent, we continue to strengthen our global intellectual property rights.'
What does the Patent cover for SciSparc ?
The Patent covers the compositions and methods for potentiating therapeutic effects and/or reducing the side-effects of selected cannabinoids discovered in the cannabis plant.
