SciSparc signs exclusive patent license agreement with Polyrizon

SciSparc announced that it has signed an Exclusive Patent License Agreement with Polyrizon Ltd. for the out-licensing of its SCI-160 program for the treatment of pain. According to the License Agreement, Polyrizon will receive exclusive, royalty-bearing global license to develop and sublicense the Assets. In exchange, SciSparc would be entitled to receive consideration in the form of Polyrizon securities valued at $3 million, as well as potentially milestone fees of approximately $3M in cash, if certain development milestones will be met, as well as royalties. SCI-160 is an innovative, proprietary synthetic combination of cannabinoids and N-acylethanolamines in the field of pain treatment. Based on numerous pre-clinical studies conducted by the company, several proprietary combinations have been found to be involved in mediating analgesic effects in the peripheral nervous system without causing significant side effects in both acute and chronic pain.