Business
SciSparc's Board of Directors Provides Strategic Decision
TEL AVIV, Israel, June 09, 2022 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC), a specialty clinical-stage pharmaceutical company focusing on the
About this update from Scisparc Ltd.
[{"type":"text","content":"TEL AVIV, Israel, June 09, 2022 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system (the \"Company\" or \"SciSparc\"), today announced that the Company's board of directors resolved to initiate a process to review potential strategic transactions with the goal of maximizing shareholder value. Potential strategic transactions to be explored and evaluated during the review process may include additional investments in innovative companies, acquisitions, a strategic partnership with one or more parties, or the licensing of one or more of the Company’s proprietary technologies or indications. If any such transaction results in equity consideration, the Company may consider making dividend in kind distributions, subject to applicable law and regulations, to its shareholders. Pending any decision to undertake any such strategic transaction, the Company will continue its development activities in accordance with its existing business strategy. \"Our cash position provides us the opportunity to carefully consider a range of potential strategic alternatives designed to maximize shareholder value,\" said Oz Adler, SciSparc's Chief Executive Officer. \"As we assess potential external strategic alternatives, we continue to seek to create value through the development of unique clinical-stage treatments for the central nervous system, including Alzheimer's disease, Tourette syndrome and more. We plan to continue our trials according to the FDA guidelines and explore our new path with psychedelic pharmaceutical treatments.\" About SciSparc (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. Forward-Looking Statements: This press r...