Agitation

No Immediate Effect on Nasdaq Listing or Trading of the Company’s Ordinary Shares TEL AVIV, Israel, Jan. 15, 2025 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) (“Company” or “SciSparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders and rare diseases of the central nervous system, today announced that it has received a notification letter from Nasdaq Stock Market LLC (“Nasdaq”) that the Company has been granted an additional 180-day compliance period, or until July 14, 2025 to regain compliance with Nasdaq’s minimum bid price rule. Nasdaq’s determination is based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market, with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period and if necessary, by effecting a reverse share split. In a notification letter dated July 16, 2024, Nasdaq had first informed the Company that, based on the previous 30 consecutive business days, the Company’s ordinary shares no longer met the minimum $1.00 bid price per share requirement and in accordance with Nasdaq’s Listing Rules, the Company was provided 180 calendar days, or until January 13, 2025, to regain compliance. The Company did not regain compliance with the minimum $1.00 bid price per share requirement during the first 180-calendar-day compliance period and submitted a written request to the Nasdaq’s staff to afford it an additional 180-day compliance period to cure the deficiency, which it was granted in a notification letter dated January 14, 2025. If at any time before July 14, 2025, the closing bid price of the Company’s ordinary shares is at least $1.00 per share for a minimum of 10 consecutive business days, the Company will regain compliance with this Nasdaq rule and this matter will be closed. However, Nasdaq may, in its discretion, require the Company’s ordinary shares to maintain a bid price of at least $1.00 for a period in excess of ten consecutive business days, but generally no more than 20 consecutive business days, before determining that the Company has demonstrated an ability to maintain long-term compliance. This current notification from Nasdaq has no immediate effect on the listing or trading of the Company’s ordinary shares, which will continue to trade on the Nasdaq Capital Market under the symbol “SPRC.” 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: SCI-110 for the treatment of Tourette Syndrome, for the treatment of Alzheimer’s disease and agitation; and SCI-210 for the treatment of autism and status epilepticus. The Company also owns a controlling interest in a subsidiary whose business focuses on the sale of hemp seeds’ oil-based products on the Amazon.com Marketplace. 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 regaining compliance with Nasdaq’s continued listing requirements, and the timing and effect thereof as well as potentially effecting a reverse stock split. 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 SEC on May 1, 2023, 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:IR@scisparc.comTel: +972-3-6167055

Johnson & Johnson (J&J) has announced that it will be expanding its neuroscience capabilities by acquiring Intra-Cellular Therapies for approximately $14.6bn. The deal gives J&J access to Intra-Cellular’s central nervous system disorder drugs, including antipsychotic medication Caplyta (lumateperone). The once-daily oral therapy is already approved by the US Food and Drug Administration (FDA) to treat adults with schizophrenia, and depressive episodes associated with bipolar I or II disorder as a monotherapy and adjunctive therapy with lithium or valproate. Schizophrenia and bipolar disorder affect approximately 2.4 million and 6.1 million adults in the US, respectively. A supplemental new drug application has also been submitted to the US regulator for the use Caplyta as an adjunctive treatment for major depressive disorder, which affects as estimated 21 million adults in the US, while additional late-stage trials of the drug in other mental health disorders are underway. Beyond Caplyta, the acquisition includes a phase 2 candidate being evaluated in generalised anxiety disorder and Alzheimer’s disease-related psychosis and agitation, as well as a clinical-stage pipeline that “further complements and strengthens” J&J’s current areas of focus. Jennifer Taubert, executive vice president, worldwide chairman, Innovative Medicine, J&J, said: “We are excited to welcome Intra-Cellular Therapies’ talented people and world-class expertise to J&J. Together, we have an opportunity to impact even more patients living with neuropsychiatric and neurodegenerative disorders, significantly advancing care and helping improve the lives of millions worldwide.” Under the terms of the agreement, which is expected to close later this year subject to applicable regulatory approvals, J&J will acquire all outstanding shares of Intra-Cellular Therapies for $132 per share in cash. Also commenting on the acquisition, Sharon Mates, chairman and chief executive officer of Intra-Cellular Therapies, said: “Caplyta’s success and the robust pipeline we have built demonstrates the passion and dedication of our… team, and we are proud of the hundreds of thousands of patients we have helped. “J&J has a longstanding commitment to neuroscience, and we believe together, we can reach even more patients around the world.”

Johnson & Johnson, already a big player in neuroscience drugs, is adding to its portfolio and pipeline with a deal to acquire Intra-Cellular Therapies, a company whose main asset has the potential to become a blockbuster seller across several neurological indications. According to deal terms announced Monday, J&J has agreed to pay $132 in cash for each share of Intra-Cellular, a more than 39% premium to the company’s closing stock price on Friday. Shares of Bedminster, New Jersey-based Intra-Cellular had already risen after reports surfaced late last week about a potential acquisition. The deal values Intra-Cellular at $14.6 billion. The centerpiece of the Intra-Cellular acquisition is Caplyta, a drug that won its initial FDA approval in 2019 as a treatment for schizophrenia in adults. Two years later, its label expanded to include bipolar depression. Caplyta is a small molecule formulated as a capsule taken once daily. The way this drug works to treat neurological conditions is unknown, but its therapeutic effect is thought come from blocking activity of certain receptors found in the brain. presented by Health IT Transforming Patient Care: The Role of AI-Powered Assistants The progress in artificial intelligence (AI) is reshaping patient care, across various dimensions, from facilitating faster discharge to curating treatment plans and suggesting lifestyle changes. By IT Medical Caplyta, Intra-Cellular’s only FDA-approved drug, accounted for $481.2 million in sales in the first nine months of 2024. Last April, Intra-Cellular reported positive data from a Phase 3 data in major depressive disorder (MDD). In December, the company submitted to the FDA an application in this indication. “With positive Phase 3 data in MDD as an adjunctive therapy and additional Phase 3 trials in other mental health disorders underway, we believe Caplyta ® has the potential to become a new standard of care for the treatment of some of today’s most prevalent and debilitating mental health disorders,” Johnson & Johnson’s John Reed, executive vice president, R&D, Innovative Medicine, said in a prepared statement. Approval of Caplyta in major depressive disorder could push the drug into blockbuster territory. Leerink Partners expects the drug could achieve greater than $5 billion in peak sales. Leerink analyst David Risinger said in a Monday research note that Intra-Cellular fits well with J&J’s existing neuroscience portfolio. The pharma giant’s top neuro product is paliperidone, marketed as Invega among other names for treating schizophrenia. This drug accounted for more than $3.1 billion in revenue through the first three quarters of 2024. J&J also markets the depression drug Spravato. The Intra-Cellular pipeline includes ITCI-1284, which is in mid-stage development for generalized anxiety disorder, Alzheimer’s disease agitation, and psychosis in patients with Alzheimer’s. The company has said the drug could achieve more than $1 billion in peak sales combined in these three indications. presented by Market Trends to Watch for Health Systems and Their Specialty Pharmacies The future looks bright for the integrated specialty pharmacy model – for health systems, providers, and most importantly, for patients. By Jake Gaffey, MBA, Chief Strategy Officer at Shields Health Solutions J&J and Intra-Cellular expect the acquisition will close later this year, subject to regulatory approvals. The pharma giant said it will provide additional commentary on the financial impact of the transaction during its Jan. 22 conference call to discuss fourth quarter 2024 financial results. GSK to Pay $1B for IDRx and Its Lead Drug for Gastrointestinal Cancer GSK is adding to its cancer drug prospects with a $1 billion deal to acquire IDRx, a clinical-stage biotech whose most advanced program is in development for a type of gastrointestinal cancer driven by a particular genetic signature. The sum announced Monday is an upfront payment. GSK could end up paying the shareholders of the privately held biotech an additional $150 million for milestone of a regulatory approval. IDRx’s lead drug candidate, IDRX-42, is a potential treatment for gastrointestinal stromal tumor (GIST). The drug is a tyrosine kinase inhibitor, a type of drug designed to block mutated enzymes that drive cancer growth. According to GSK and Plymouth, Massachusetts-based IDRx, 80% of cases of GIST in the gastrointestinal tract are driven by mutations to the KIT gene. While tyrosine kinase inhibitors are available as cancer treatments, the companies say there are no currently approved drugs in this class that block the full spectrum of KIT mutations. IDRX-42 is currently being evaluated in a Phase 1/2 clinical trial. IDRx has said results so far show the drug demonstrated activity against all key primary and secondary KIT mutations. Furthermore, the selectivity of the IDRX-42 to it its target could improve its tolerability, which the companies contend offers the potential for a best-in-class profile. Updated Phase 1 data were presented at the 2024 annual meeting of the Connective Tissue Oncology Society this past November. “IDRX-42 complements our growing portfolio in gastrointestinal cancers,” GSK Chief Commercial Officer Luke Miels said in a prepared statement. “This acquisition is consistent with our approach of acquiring assets that address validated targets and where there is clear unmet medical need, despite existing approved products.” IDRx, founded by serial entrepreneur Alexis Borisy, emerged from stealth in 2022 backed by a $122 million Series A round of funding. The biotech closed a $120 million Series B round last August. IDRx licensed its lead drug candidate from Merck KGaA. If it’s approved, GSK will be responsible for milestone payments and royalties paid out to the German company. Eli Lilly Picks Up Scorpion Drug to Replace a Program Terminated Last Year Eli Lilly is acquiring Scorpion Therapeutics to get a drug with the potential to treat breast cancer and other advanced solid tumors characterized by a certain genetic signature. The Scorpion drug, STX-478, is a small molecule designed to selectively block PI3K alpha. Overactivation of this enzyme can help cancer grow and spread. While there are drugs available that address the PI3K alpha pathway, these medicines can also hit healthy tissue, sparking adverse effects. Scorpion designed its drug to selectively target the pathway in cancerous cells while leaving it alone in healthy cells. Acquiring the Scorpion drug gives Lilly a replacement for a PI3K alpha program it terminated last summer. While the deal announced Monday calls for Lilly to acquire Scorpion, the pharma giant only wants STX-478. No upfront payment was disclosed; total payments, including milestone payments, could reach up to $2.5 billion. Meanwhile, Scorpion’s non PI3K alpha pipeline will spin out as a new, independent company. Current Scorpion owners will own the company while Lilly will have a minority stake. New Scorpion will be led by the current Scorpion management team.