Polyrizon acquires $3M license for SciSparc's preclinical pain therapy

Israeli biotech company SciSparc has finalized a licensing agreement transferring the development rights of its cannabinoid receptor type 2 (CB2R) agonist to its partner, Polyrizon. This agreement grants Polyrizon an exclusive, royalty-bearing global license to SCI-160, a synthetic blend of cannabinoids and N-acylethanolamines currently in preclinical stages. In exchange, SciSparc will receive $3 million in Polyrizon shares, along with potential cash milestone payments totaling an additional $3 million, plus ongoing royalties.

Preclinical studies conducted by SciSparc have shown that various combinations of cannabinoids and N-acylethanolamines exhibit analgesic effects on the peripheral nervous system, effectively managing both acute and chronic pain without significant side effects. SCI-160, in particular, displayed comparable analgesic efficacy to high-dose morphine and, in some scenarios, even greater potency, all while avoiding substantial adverse effects. This was highlighted in a post-market release by SciSparc on August 16.

Oz Adler, SciSparc's CEO and Chief Financial Officer, who also serves on Polyrizon’s board, expressed satisfaction with the completed licensing agreement. He emphasized that the deal could enable SciSparc to benefit from royalties and milestone payments from the SCI-160 program without the need for further investment in its development. “The license agreement may allow us to enjoy royalties and milestones payments from the SCI-160 program, without investing additional funds in the development,” Adler noted.

Polyrizon specializes in developing innovative medical device hydrogels, which are administered via nasal sprays. The collaboration between SciSparc and Polyrizon began in May 2022, focusing on merging the SCI-160 platform with Polyrizon’s Trap and Target intranasal drug delivery technology for targeting the central nervous system.

In 2021, SciSparc revealed top-line preclinical data linking SCI-160 to pain relief for up to six hours post-injection in animal models. These results were promising enough to lead SciSparc to propose SCI-160 as a treatment for both acute and chronic pain, setting the stage for future first-in-human clinical trials.

This partnership and licensing agreement mark a significant step forward in the development of new pain therapies, leveraging the strengths of both companies. Polyrizon's expertise in nasal drug delivery systems combined with SciSparc's cannabinoid-based formulations hold the potential to introduce more effective pain management solutions in the medical field.