SciSparc's Pain Therapy Gets $3 Million Global Out-Licensing Deal

SciSparc, a clinical-stage pharmaceutical company specializing in central nervous system disorders and rare diseases, has finalized an Exclusive Patent License Agreement with Polyrizon Ltd. This strategic move involves the out-licensing of SciSparc's SCI-160 program, a promising pain treatment therapy.

Under the agreement, Polyrizon will obtain exclusive global rights to develop and sublicense SCI-160, a proprietary blend of cannabinoids and N-acylethanolamines designed for pain management. SciSparc stands to gain $3 million in Polyrizon securities, alongside potential cash milestone payments of up to $3 million and future royalties, contingent on the achievement of specific developmental goals.

Pre-clinical studies of SCI-160 have shown it to be an effective analgesic with fewer side effects, offering a potential alternative to opioids, which are associated with significant public health risks. In comparative studies, SCI-160 demonstrated a potency on par with, or even surpassing, high-dose morphine without causing significant adverse effects. This collaboration marks a significant step forward in the development of innovative pain management solutions, addressing the ongoing need for safer, non-opioid alternatives.

Mr. Oz Adler, SciSparc's Chief Executive Officer and Chief Financial Officer, said “We are pleased to finalize the License Agreement for the out-licensing of the SCI-160 program for treating pain. The License Agreement may allow us to enjoy royalties and milestones payments from the SCI-160 program, without investing additional funds in the development."