Israel-based pharmaceutical company SciSparc has signed an exclusive patent licence agreement with Polyrizon to out-license its SCI-160 programme for pain treatment.
Polyrizon will receive a sole, royalty-bearing worldwide licence for developing and sublicensing the assets.
In return, SciSparc is entitled to receive Polyrizon securities valued at $3m, along with potential milestone cash payments of $3m, contingent upon achieving specific development goals.
SciSparc will earn royalties from the commercialisation of the therapy.
SCI-160 is a synthetic combination of cannabinoids and N-acyl ethanolamines which has been shown to mediate analgesic effects in the peripheral nervous system.
This occurs without causing significant side effects in both acute and chronic pain models.
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By GlobalData
Pre-clinical studies conducted by SciSparc have identified several proprietary combinations with analgesic properties.
SCI-160 demonstrated a favourable safety profile, showing no significant adverse clinical effects.
In some studies, it matched the analgesic effect of high-dose morphine and, in certain cases, proved even more potent.
The development of SCI-160 comes amid concerns over opioid abuse, which the Centers for Disease Control and Prevention have identified as a significant public health issue.
SciSparc CEO Oz Adler stated: “We are pleased to finalise the licence agreement for the out-licensing of the SCI-160 programme for treating pain. The licence agreement may allow us to enjoy royalties and milestones payments from the SCI-160 programme without investing additional funds in the development.”
In July 2024, SciSparc announced a non-binding letter of intent to spin off its cliniclinical-stagemaceutical portfolio and its equity stake in SciSparc Nutraceuticals.
The letter of intent refers to a proposed asset and share purchase agreement with Miza III Ventures in Canada, with the definitive agreement yet to be negotiated.
