• MitoCareX Bio dedicates efforts to creating a predictive AI model to predict small molecules more efficiently

TEL AVIV, Israel, March 12, 2024 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) ("Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, today announced that MitoCareX Bio Ltd. ("MitoCareX "), the Company’s venture with Dr. Alon Silberman that focuses on drug discovery and the development of cancer therapeutics by targeting the mitochondrial SLC25 protein family, revealed that millions of small molecules were virtually screened using its computationally advanced drug discovery platform, with several molecules identified as potential anti-cancer treatments.

By using its in-vitro screening systems related to the mitochondria, MitoCareX corroborated its virtual findings by confirming the anti-cancer biological activity of several small molecule structures.

Additionally, by utilizing the extensive virtual data generated, MitoCareX working towards creating a predictive AI model. This model is expected to enable MitoCareX to navigate broader chemical spaces more efficiently, with the goal of uncovering more novel anti-cancer scaffolds that target its SLC25 protein of interest.

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 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 ASD 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 Amazon 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 that MitoCareX is working towards creating a predictive AI model and that such model is expected to enable MitoCareX to navigate broader chemical spaces more efficiently, with the goal of uncovering more novel anti-cancer scaffolds that target the SLC25 protein of interest. 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.

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