SciSparc Ltd. Licenses SCI-160 Program, Terminates Co-Development Deal
Ticker: SPRC · Form: 6-K · Filed: Aug 19, 2024 · CIK: 1611746
| Field | Detail |
|---|---|
| Company | Scisparc Ltd. (SPRC) |
| Form Type | 6-K |
| Filed Date | Aug 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $3 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: licensing, patent, agreement-termination
TL;DR
SciSparc out-licenses SCI-160 program, terminates old deal. Big move!
AI Summary
On August 13, 2024, SciSparc Ltd. entered into an exclusive patent license agreement for its SCI-160 program. This agreement involves the out-licensing of the program, and it also includes the termination of a previous co-development agreement related to the same program.
Why It Matters
This strategic move by SciSparc Ltd. could streamline its focus on other projects and potentially generate revenue from the licensed SCI-160 program.
Risk Assessment
Risk Level: medium — The company is undergoing a significant restructuring of its program development and licensing, which carries inherent business risks.
Key Players & Entities
- SciSparc Ltd. (company) — The company filing the report and entering into the agreement.
- SCI-160 (program) — The program being out-licensed.
- August 13, 2024 (date) — The date the License Agreement was entered into.
FAQ
What is the nature of the exclusive patent license agreement entered into by SciSparc Ltd.?
SciSparc Ltd. entered into an exclusive patent license agreement for the out-licensing of its SCI-160 program.
What was the effective date of the License Agreement?
The License Agreement was entered into on August 13, 2024.
What other agreement was terminated in conjunction with the new License Agreement?
A co-development agreement related to the SCI-160 program was terminated.
What is the primary program involved in this filing?
The primary program involved is SCI-160.
What is the filing type and the reporting period?
The filing is a Form 6-K, Report of Foreign Private Issuer, for the month of August 2024.
Filing Stats: 523 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-08-19 07:00:24
Key Financial Figures
- $3 m — Licensee, reflecting an issue price of $3 million, and royalties from sales related
Filing Documents
- ea0211528-6k_scisparc.htm (6-K) — 16KB
- ea021152801ex10-1_scisparc.htm (EX-10.1) — 175KB
- ea021152801ex99-1_scisparc.htm (EX-99.1) — 9KB
- ex99-1_001.jpg (GRAPHIC) — 1KB
- 0001213900-24-070407.txt ( ) — 203KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. SciSparc Ltd. Date: August 19, 2024 By: /s/ Oz Adler Name: Oz Adler Title: Chief Executive Officer and Chief Financial Officer 2