SciSparc Secures Strategic Advantage with Grant of European Patent

Rhea-AI Summary

SciSparc (Nasdaq: SPRC), a clinical-stage pharmaceutical company, announced the European Patent Office granted its patent application for 'Compositions and Methods of Potentiating Antimicrobials'. This patent, which complements a similar U.S. patent, enhances SciSparc's intellectual property portfolio and competitive edge in the pharmaceutical industry. The patent covers pharmaceutical compositions combining antibiotics and cannabinoids, potentially addressing antimicrobial resistance. SciSparc is actively expanding its intellectual property globally, with recent patents in Canada and Europe, reflecting its commitment to innovation. The company’s portfolio now spans major markets including the U.S., Europe, Japan, Australia, and Israel, encompassing nine patent families and two trademarks.

Positive

• Granted European patent strengthens SciSparc's intellectual property portfolio.
• Patent complements existing U.S. patent, boosting global protection.
• Patent covers innovative combinations of antibiotics and cannabinoids.
• Potentially addresses significant issue of antimicrobial resistance.
• Recent patents in Canada and Europe indicate aggressive IP expansion.
• Portfolio spans major global markets including U.S., Europe, Japan, Australia, and Israel.
• Nine patent families and two trademarks demonstrate robust IP strategy.

Negative

• No immediate financial gains or revenue from the patent grant reported.
• Potential market adoption of the new compositions is uncertain.
• R&D and patent application processes are expensive and lengthy.
• Patent protection does not guarantee regulatory approval for commercial use.
• Focus on IP expansion might divert resources from other critical areas of the business.

TEL AVIV, Israel, May 31, 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, announced today that the European Patent Office granted the Company’s patent application titled “Compositions and Methods of Potentiating Antimicrobials”. This is in addition to the patent titled “Compositions and Methods of Potentiating Antimicrobials” previously granted by the United States Patent and Trademark Office. This patent grant bolsters the Company's intellectual property portfolio, extending the protection of its global patent holdings.

This grant not only reinforces SciSparc’s position in a key market, but also enhances its competitive edge in the global pharmaceutical landscape.

The patent describes the pharmaceutical compositions and methods for potentiating various antimicrobials and minimizing their side-effects. In particular, the invention relates to pharmaceutical compositions comprising antibiotics and cannabinoids, and optionally N-acylethanolamines, and use in treating and/or preventing microbe biofilm formation and microbe-induced pathologies. This innovation is important in the context of antimicrobial and antibiotic resistance, a situation that has led the World Health Organization to classify such antimicrobial resistance as a serious threat.

SciSparc has been expanding its intellectual property portfolio, with significant patents recently granted in Canada and Europe, since the beginning of the year. This aggressive expansion emphasizes SciSparc's commitment to securing its innovative technologies globally and highlights the Company’s dynamic approach to research and development. This addition marks another milestone in SciSparc's ongoing efforts to safeguard its core technologies. The Company's intellectual property portfolio now includes patents across several major global territories, including the United States, Europe, Japan, Australia, and Israel, comprising nine patent families and two trademarks.

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 uses forward-looking statements when it discusses SciSparc’s competitive edge in the market and the Company’s ongoing efforts to safeguard its core technologies. 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, as amended, filed with the SEC on April 1, 2024, 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
Tel: +972-3-6167055

FAQ

What is the latest patent granted to SciSparc?

The European Patent Office granted SciSparc a patent for 'Compositions and Methods of Potentiating Antimicrobials'.

How does the new patent affect SciSparc's competitive edge?

The patent enhances SciSparc's competitive edge by strengthening its IP portfolio and protecting innovative therapeutic compositions.

What does the new patent cover?

The patent covers pharmaceutical compositions combining antibiotics and cannabinoids to potentially address antimicrobial resistance.

Does SciSparc have a similar patent in other regions?

Yes, SciSparc has a similar patent granted by the United States Patent and Trademark Office.

What are the global regions where SciSparc holds patents?

SciSparc holds patents in the United States, Europe, Japan, Australia, and Israel.

How many patent families does SciSparc's portfolio include?

SciSparc's intellectual property portfolio includes nine patent families.

What recent developments have strengthened SciSparc's IP portfolio?

Recent patents granted in Canada and Europe have significantly strengthened SciSparc's IP portfolio.