SciSparc's JV MitoCareX Bio Launches its Advanced New Laboratory Facility
July 07 2022 - 8:30AM
SciSparc Ltd. (Nasdaq: SPRC) (the "Company" or "SciSparc"), a
specialty, clinical-stage pharmaceutical company focusing on the
development of therapies to treat disorders of the central nervous
system, today announced that its recently established joint venture
("JV"), MitoCareX Bio, launched its new dedicated, advanced
facility for the discovery and development of anti-cancer drug
candidates. The new state-of-the-art laboratory and research
facility is based in Ness-Ziona Science Park in Israel.
According to the World Health Organization, cancer continues to
be a major public health concern and is the leading cause of death
worldwide, accounting for nearly 10 million deaths in 2020, or
nearly one in six deaths. Despite the prevalence of
cancer and recent advances in the medical field, safe and
effective treatment options with minimal side effects remain
elusive and the race to combat the global cancer crisis remains in
full swing.
MitoCareX Bio focuses on investigating mitochondrial carriers
that are crucial for cell viability. Because of mitochondrial
carriers' significant role in transporting necessary metabolites
for cell functioning across the inner mitochondrial membranes, the
Company believes that various life-threatening conditions, such as
cancers and infectious diseases, might be treated by regulating the
function of mitochondrial carriers. In humans, the mitochondrial
carrier family (Solute Carrier Family 25, SLC25) consists of 53
members and is the largest solute transporter family.
MitoCareX Bio is currently developing its computationally based
drug discovery capabilities to enable its planned virtual screening
activities. MitoCareX Bio's innovative research is partly built
upon successful proof-of-concept experiments previously performed
in the U.K.
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 cannabidiol (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 autism spectrum disorder and status epilepticus. Learn
more at https://scisparc.com/, the content of which is not a
part of this press release.
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 focus of its JV on discovery,
research and development of potential drugs for infectious
diseases, cancers and other life-threatening conditions and the
potential benefits of the newly established facility. 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 U.S. Securities and Exchange Commission (the “SEC”)
on April 28, 2022, and in subsequent filings with SEC. 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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