Shares of SciSparc Ltd. (NASDAQ: SPRC) are experiencing notable momentum on the charts today, surging by 39.37% to $4.85 as of the last check during the current trading session. The company’s recent internal advancements, which signal an exciting period of growth and innovation, are primarily responsible for this notable increase in the value of SciSparc’s shares.
Today, SciSparc (SPRC) released a statement on its continued collaboration with Clearmind Medicine Inc., a company that has applied for three patents under the worldwide Patent Cooperation Treaty. These uses involve novel mixtures of N,N-dimethyltryptamine (DMT), psilocybin, palmitoylethanolamide (PEA), lysergic acid diethylamide (LSD), and PEA, the active ingredient in SciSparc’s proprietary product CannAmide.
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Formerly, Clearmind had lodged these applications as provisional patents with the United States Patent and Trademark Office. The continuous collaboration between SciSparc and Clearmind, aimed at expanding their intellectual property portfolio, stands as a significant asset. SPRC acknowledges the enhanced potential that CannAmide holds when paired with various psychedelic compounds recognized for their therapeutic benefits.
Apart from their innovative collaboration with Clearmind, SciSparc has started enrolling patients for a clinical study that aims to treat children diagnosed with autism spectrum disorder (ASD) at Soroka Medical Center located in Israel. Trial participants will evaluate how well SCI-210, a combination of CBD and CannAmide, reduces symptoms associated with ASD.
This experiment, which will take place over a 20-week period and involve 60 kids aged five to eighteen, will be double-blind, randomized, and placebo-controlled. With ambitions to extend to additional areas following receiving relevant regulatory clearances, the company’s primary goal is to offer SCI-210 in the Israeli market.
The start of patient recruitment for this clinical research is a major achievement for SciSparc, in line with its objective to improve human health via new therapeutic innovations and addresses an area of unmet medical need. The trial’s results will help SciSparc go forward by allowing SCI-210 to be sold in Israel.
