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EQS-News: SciSparc Ltd.
Learn More about SciSparc Ltd. by gaining access to the latest research report There is a high probability that you may know someone battling some form of addiction. Whether it’s a problem with opioids, alcohol, cocaine, or even using pain meds, an unchecked addiction can be fatal. Addiction, or substance use disorder (SUD), can be a chronic mental health condition that demands urgent attention before it gets out of hand. Take alcohol abuse, for example; the World Health Organization (WHO) estimates that three million deaths yearly result from the harmful use of alcohol. This represents 5.3% of all deaths. Overall, 5.1% of the global burden of disease and injury is attributable to alcohol, as measured in disability-adjusted life years (DALYs). Looking at the overall drug abuse and addiction globally, around 275 million people used drugs worldwide in 2020, while over 36 million people suffered from drug use disorders, according to the 2021 World Drug Report by the United Nations Office on Drugs and Crime (UNODC). Zooming into the U.S., the National Center for Drug Abuse Statistics (NCDAS) estimates that nearly half of all people 12 and older in the U.S. have used an illicit substance at least once. Since 2000, almost one million people have died of a drug overdose. These staggering statistics call for effective therapies and treatment centers to help curb the trend, especially as there are indications that the number of drug users worldwide is likely to climb up to 11% by 2030. Rising awareness about the adverse effects of alcohol and substance abuse, the introduction of new therapies, and increasing rehabilitation centers are expected to fuel the growth of the global substance abuse treatment market. The global substance abuse treatment market was valued at $10.2 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2031. The market is anticipated to cross $23.1 billion by 2031. Pharmaceutical companies like Amphastar Pharmaceuticals Inc. (NASDAQ: AMPH), Viatris Inc. (NASDAQ: VTRS), SciSparc Ltd. (NASDAQ: SPRC), and BioCorRx Inc. (OTCMKTS: BICX) are advancing research and therapies aimed at serving the needs of the market. SciSparc is a specialty clinical-stage pharmaceutical company focused on developing therapies to treat CNS disorders from a portfolio of technologies and assets based on cannabinoid pharmaceuticals. The company is engaged in drug development programs based on tetrahydrocannabinol (THC) and nonpsychoactive cannabidiol (CBD). The company’s pipeline of product candidates includes SCI-110 for treating Tourette syndrome, Alzheimer’s disease and agitation; SCI-160 for treating pain; and SCI-210 for treating autism spectrum disorder and status epilepticus. It also has CannAmide™, an immediate unique palmitoylethanolamide (PEA) oral formulation for reducing chronic pain and inflammation. Positive Results For Psychedelic Combination TreatmentIn May this year, SciSparc announced positive efficacy and safety profile results from its joint preclinical trial with Clearmind Medicine Inc. (NASDAQ:CMND,CSE: CMND)), a psychedelic pharmaceutical company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems. The trial tested the proprietary combination of SciSparc’s CannAmide™ with Clearmind’s psychedelic molecule5-Methoxy-2aminoindane (MEAI) for suppressing alcohol use disorder. A histopathology assessment was conducted on several organs (heart, lungs, liver, kidneys, brain, pancreas, spleen and thyroid gland) from all experiment groups to determine the safety of the proprietary combination of MEAI and CannAmide™ versus control mice that were not exposed to alcohol. Previously announced successful results showed a significant dose-dependent effect for the MEAI treatment in reducing alcohol consumption in treated animals, with substantial additional effect when combining CannAmide™ with the lower sub-effective MEAI dose. On Aug. 24, the company announced additional positive preclinical results of its psychedelic-based pharma collaboration for treating cocaine addiction using MEAI. These preclinical study results add to the company’s collaboration with Clearmind for its combination treatment for various addictions, including preclinical studies results and filing two provisional patent applications related to compositions comprising MEAI and n-acylethanolamines, their use and treating cocaine addiction. Gal Yadid and his team from the Gonda Multidisciplinary Brain Research Center at Bar Ilan University in Israel led a preclinical trial designed to evaluate the possible reward-like effects of MEAI in connection to cocaine and its ability to abolish cocaine-induced conditioned place preference. The self-administration paradigm, the gold-standard model for examining drug addiction, was used in the preclinical trial. Rats were catheterized and trained to self-administer cocaine. The results identified a statistically significant sub-group that responded dramatically to the treatment, significantly decreasing the craving for cocaine compared to a nontreated control group. Follow the story at SciSparc’s website here. 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 (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. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact DetailsTraDigital IR- Christine Petraglia Company WebsiteNews Source: News Direct
15.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | SciSparc Ltd. |
| United States | |
| ISIN: | US80909J1025 |
| EQS News ID: | 1488557 |
| End of News | EQS News Service |
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1488557 15.11.2022 CET/CEST
