Prof. Avi Schroeder Joins SciSparc's Scientific Advisory Board to Support the Company's Development of SCI-160 for Treating Pain

Prof. Schroeder to advise on SCI-160 formulation development to enhance biological effect and extended effect duration

TEL AVIV, Israel, March 30, 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 the appointment of Professor Avi Schroeder as a member of the Company's Scientific Advisory Board (SAB). As a member of the SAB, Prof. Schroeder will support the development of the Company's top-tier, proprietary, investigational drug candidate SCI-160 program for the treatment of pain. Prof. Schroeder will advise the Company on the formulation development of SCI-160 to enhance the proprietary synthetic CB2 receptor agonist's biological effect and extend effect duration.

The Company previously achieved positive results in a series of pre-clinical trials in which the efficacy and safety of SCI-160 was demonstrated in both acute and chronic pain.

Prof. Schroeder is the head of the Targeted Drug Delivery and Personalized Medicine Group, at the Technion, Israel Institute of Technology and has translational experience with the development of liposome-based clinical systems. He is the author of scientific papers in the field of nanotechnology and medicine and is the inventor on 14 patents, and recipient of 20 national and international innovation awards. Prof. Schroeder is a scientific entrepreneur, starting five successful Technion spin-outs. Prof. Schroeder received three degrees in Chemical Engineering from the Ben-Gurion University of the Negev and his postdoctoral training took place at MIT.

Dr. Adi Zuloff-Shani, SciSparc's Chief Technologies Officer, commented, "As we continue to make progress in our innovative program to treat pain, utilizing our non-opioid analgesic pain management solution, SCI-160, reinforcing our SAB is essential. Our plans are to commence the Pre-IND process further this year, followed by an FDA Investigational New Drug (IND) Phase I study application for our treatment for pain. We welcome Prof. Schroeder and the great contribution he will bring to our SAB, that already includes a diverse list of renowned researchers, physicians and experts advising the company."

The Company's top-tier, investigational drug candidate SCI-160 for pain is an innovative and proprietary, non-opioid, CB2 Receptor (CB2R) agonist formulation intended for the treatment of pain. This specific CB2R agonist was synthesized by Professor Raphael Mechoulam, Ph.D., Chairman of SciSparc's SAB. CB2 Receptor specific agonists have been found to be involved in mediating analgesic effects in the peripheral nervous system, without significant side effects, and CB2R agonists do not cause the undesirable cannabis psycho-activity effect. The therapeutic effects and potency have been successfully assessed in animal models. 

About SciSparc (NASDAQ:SPRC):

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 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 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 appointment of a professional expert to support the Company's SCI-160 program for the treatment of pain and the Company's intention to file an IND phase I study application. 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 March 30, 2021, 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.

Investor Contact:

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Tel: +972-3-6167055