Full Press Release Details
Engages Procaps for Development and Production of CannAmide and its SCI-110 Product Candidate
companies will work together on next phase of development following successful phase IIa clinical study for Tourette Syndrome in
2018 and preparations for CannAmide commercialization in Canada
AVIV, Israel, February 10, 2021 - SciSparc Ltd. (formerly known as Therapix Biosciences Ltd.) (OTCQB: TRPXY), a specialty, clinical-stage
pharmaceutical company focusing on the development of cannabinoid-based treatments, today announced it has entered an agreement
with Procaps, a leader in contract development and manufacturing services in softgel advanced technologies for the global pharmaceutical
and nutraceutical industries, to develop and commercially manufacture both its drug candidate, SCI-110 (formerly THX-110), and
its proprietary Palmitoylethanolamide (PEA) compound, CannAmide , in softgel capsule form.
an immediate, unique and proprietary oral formulation, was developed to increase the bio-availability and the absorption of PEA
and is recommended for use as an anti-inflammatory to help relieve chronic pain by Health Canada's Natural and Non-prescription
Health Products Directorate. Furthermore, SciSparc has previously shown results suggesting PEA directly affects 9-tetrahydrocannabinol's
(THC) binding affinity to cannabinoid receptor 1 (CB1R), further impacting the CB1R induced signaling cascade, potentially making
CannAmide particularly effective when combined with cannabinoids.
is an innovative proprietary combination drug candidate, formulated to treat the symptoms related to diseases of the central nervous
system. Combining CannAmide and dronabinol - a synthetic form of THC - SCI-110 - is intended to increase THC
CB1R's binding affinity and to decrease metabolic degradation, thus potentially increasing the uptake of THC. The overall
potential benefit is expected to be an increase in efficiency of oral administration, enabling a decrease in dosage and lowering
of side effects and adverse events.
is a platform for a number of indications that the Company is developing while initial testing of SCI-110 new dosage form is in
the treatment for Tourette syndrome (TS). In 2018, SciSparc completed a Phase IIa Clinical Study in conjunction with Yale University
with very encouraging results. The Company has engaged Procaps to manage development and clinical production and oversee the efficacy
and safety testing in a multi-national randomized, placebo-controlled trial.
CannAmide is already produced commercially
in tablet form; the Company has engaged Procaps to develop and manufacture another dosage form. Similar to the tablet form, each
softgel capsule will contain 400 mg of PEA as its active pharmaceutical ingredient.
Zuloff-Shani, PhD, SciSparc's Chief Technology Officer, commented, "Today's announcement is another significant
milestone to the Company and expresses our confidence in the potential of SCI-110 to make it to commercialization. Our singular
objective in developing SCI-110 is to develop a safe and effective treatment for this devastating, unmet medical need as soon as
possible; we believe that this agreement brings us one step closer."
SciSparc (OTCQB: TRPXY):
SciSparc Ltd. is a specialty clinical-stage
pharmaceutical company led by an experienced team of senior executives and scientists. Our 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 (formerly THX-110) for
the treatment of Tourette syndrome and for the treatment of obstructive sleep apnea; SCI-160 (formerly THX-160) for the treatment
of pain; and SCI-210 (formerly THX-210) for the treatment of autism spectrum disorder and epilepsy. Please visit our
website for more information at www.therapixbio.com, the content of which is not a part of this press release.
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 actual development
and manufacturing of SCI-110 or CannAmide by Procaps or any other manufacturer, commercialization of CannAmide in Canada and
the potential commercialization of SCI-110. Historic 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 June 15, 2020, 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.