SciSparc Issued Canadian Patent for Opioids Reduction Use in Pain Management Technology
06 Marzo 2024 - 3:41PM
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 its had been received patent
approval for its proprietary combination of opioids and
n-acylethanolamines for pain treatment (the “Patent”).
The Patent has been granted by the Canadian
Intellectual Property Office, the government agency in Canada that
administers intellectual property rights and legislation for
patents.
According to a report by Grand View Research,
the global opioid market was valued at $22.8 billion in 2022 and is
anticipated to grow at a compound annual growth rate of 1.4% from
2023 to 2030. The increasing rate of regulatory approvals and the
launch of new opioid medicines to treat patients with chronic pain
are the factors expected to drive market growth. At the same time,
opioid abuse and addiction has been a global growing epidemic for
more than a decade.
"With the Canadian patent approval for our opioid reduction
technology, SciSparc continues to build on global recognition of
its innovations and breakthrough technologies. We are all aware of
how effective opiates are in relieving pain, but also for their
addictive influence. We believe that our technology will
potentially make it possible to improve the therapeutic effect of
opiates in lower doses, thereby reducing their addictive potential.
Our technology represents hope for safer and more effective pain
management strategies worldwide," said SciSparc’s Chief Executive
Officer, Oz Adler.
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 Amazon 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 anticipated growth
and reasons for the growth of the global opioid market, the belief
that the Company’s technology will improve the therapeutic effect
of opiates in lower doses, and that the Company’s technology
represents hope for safer and more effective pain management
strategies worldwide. Historical results of scientific research and
clinical and preclinical trials do not guarantee that the
conclusions of future research or trials will suggest identical or
even similar conclusions. 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 Tel: +972-3-6167055
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