SciSparc Ltd. (Nasdaq: SPRC) Demonstrating Resilience & Innovation Through Strategic Clinical & Corporate Initiatives

SciSparc Ltd. (Nasdaq: SPRC) Signs Non-Binding Letter of Intent to Spin Off Advanced Clinical Stage Pharmaceutical Portfolio FDR Member, This is Michael Reece with "Financial Driven Research" delivering you your breakout alert for today's trading session, we are introducing SciSparc Ltd. (Nasdaq: SPRC). In the dynamic world of biotechnology and pharmaceuticals, SciSparc Ltd. (Nasdaq: SPRC) is carving out a unique niche. Amidst significant market fluctuations earlier this year, the company is demonstrating resilience and innovation through strategic clinical and corporate initiatives. These efforts are not only stabilizing the company but also setting the stage for substantial long-term growth. With groundbreaking clinical trials and bold spin-off strategies, SciSparc is on a path to unlock considerable value for its shareholders. As the company continues to make strides in medical research and strategic business moves, investors have ample reasons to be optimistic about SciSparc's future potential. SciSparc Ltd. (Nasdaq: SPRC) is emerging as a noteworthy player in the biotech and pharmaceutical sector, despite facing significant market fluctuations earlier this year. The company is actively pursuing clinical and corporate strategies aimed at achieving stability and long-term growth, thereby enhancing shareholder value. Clinical Trial Advancements: Autism, Tourette's, Alzheimer's SciSparc is advancing its clinical research with a robust pipeline of trials targeting major neurological disorders. Key projects include: - Tourette's Syndrome: A phase IIb trial for SCI-110 is underway, presenting a potential breakthrough for this condition. - Alzheimer's Disease: A phase II trial has been completed, offering promising insights for future treatments. - Autism Spectrum Disorder: A notable trial for SCI-210, focusing on children with autism, is in progress. This double-blind, placebo-controlled trial aims to address core symptoms of autism, potentially improving the quality of life for affected children and their families. SciSparc's recent patent acquisitions, including those for the treatment and prevention of depression, further bolster its competitive edge and intellectual property portfolio. Check out their most recent Press Release below! [SciSparc Signs Non-Binding Letter of Intent to Spin Off Advanced Clinical Stage Pharmaceutical Portfolio]( According to the agreement, SciSparc’s pharmaceuticals assets are valued at approximately $11.6 million TEL AVIV, Israel, July 08, 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 it signed a non-binding letter of intent (the “LOI”) to spin off its advanced clinical stage pharmaceutical portfolio and its equity stake in SciSparc Nutraceuticals Inc. (collectively, the “Target Assets”). The LOI references a proposed asset and share purchase agreement (the “Agreement”), the definitive agreement of which is to be negotiated between the Company and Miza III Ventures Inc. (“Miza”) (TSXV: MIZA.P), a publicly traded company on the Toronto Stock Exchange Venture in Canada. The Agreement is based on the approximate total USD 3.3 million (CAD 4.5 million) enterprise value of Miza, when including its USD 1.0 million cash position, and an approximate USD 11.6 million (CAD 15.8 million) value of SciSparc’s assets. Pursuant to the LOI, SciSparc will sell, assign, convey and transfer to Miza the Target Assets in consideration for 63,300,000 common shares of Miza and up to 48,000,000 Miza contingent rights based on pre-determined milestones. Following the closing of such transaction, SciSparc would hold a controlling interest in Miza, the exact percentage of which is contingent on agreeing definitive terms between the parties. The resulting entity, of which SciSparc will hold a stake in the resulting entity ranging from a minimum of approximately 75% to a maximum of 84.53%, will be active in both the pharmaceutical and supplement sectors. The Agreement aligns with SciSparc's strategy of creating value for its shareholders and follows the merger agreement and transaction concerning AutoMax Motors Ltd., as previously announced by SciSparc on April 11, 2024. SciSparc’s pharmaceutical portfolio includes SCI-110 for treating persons with Tourette syndrome, which is subject to a phase IIb clinical trial, SCI-110 for treating persons with Alzheimer’s disease, the phase II clinical trial of which has been completed, and SCI-210 for treating children with autism, subject to a randomized, double-blind and placebo-controlled trial that commenced in the first quarter of 2024. Strategic Spin-off: A Game Changer On July 8th, SciSparc announced its intent to spin off its advanced clinical-stage drug portfolio to Miza III Ventures Inc., a company listed on the Toronto Stock Exchange Venture. This spin-off, valued at approximately $11.6 million, involves transferring assets to Miza in exchange for 63.3 million common shares and up to 48 million contingent rights. SciSparc will retain a dominant stake of 75% to 84.53% in the merged entity. This strategic move is set to unlock significant shareholder value by diversifying SciSparc's revenue streams and reducing exposure to the volatile biotech market. It builds on their April merger with AutoMax, aimed at creating new revenue streams and exploring new markets. Looking Ahead SciSparc's focus on clinical trials and strategic partnerships highlights its growth potential. The ongoing spin-off plans and clinical trial progress are pivotal for the company's future trajectory and investor sentiment. For investors interested in biotech innovations and willing to navigate market volatility, SciSparc presents a compelling opportunity. Stay tuned for updates on these strategic initiatives and trials, which will shape SciSparc's future. Get SciSparc Ltd. (Nasdaq: SPRC) on your radars and watchlists this morning! To Your Trading Success, Michael Reece Editor, Financial Driven Research Sources: [SciSparc (SPRC) Stock Price, News & Analysis]( [SciSparc Signs Non-Binding Letter of Intent for Spin Off of Advanced Clinical Stage Pharmaceutical Portfolio to Publicly Traded Company | Markets Insider]( [SciSparc Ltd. (SPRC) Stock Price, Quote & News]( [SciSparc – Groundbreaking Therapies]( [SciSparc Signs Non-Binding Letter of Intent for Spin Off of Advanced Clinical Stage Pharmaceutical Portfolio to Publicly Traded Company (yahoo.com)]( [SciSparc- Clearmind Collaboration Evolves with New International Patent Application for Preventing and Treating Depression (yahoo.com)]( to Acquire AutoMax (yahoo.com)]( © 2024 Financial Driven Research, All Rights Reserved. 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