Traders News Source Senior Editor Mark Roberts Interviews Oz Adler Chief Executive Officer at SciSparc Ltd.
Oz Adler, Chief Executive Officer and Chief Financial Officer
Mr. Adler joined the Company in September 2017, and since April 2018 serves as the Company Chief Financial Officer .Mr. Adler has a wide variety of managerial, financial, tax and accounting experience. Prior to joining the Company, Mr. Adler was employed as a CPA at Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global. He currently chairs and serves as director on the boards of several private and public companies. Mr. Adler holds a B.A. in Accounting and Business Management from The College of Management, Israel.
SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. The company’s focus is creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals.
Thank you giving us your time to answer some questions.
What do you think is the biggest strength of SPRC? What does your company do well?
People and technology. We at SciSparc believe that people are one of the most valuable assets a company can have and that is why, in addition to our experienced management and BOD we cherry-pick our service providers and collaborators. , In addition, our technology is based on the concept of maximum efficacy with minimal adverse events, and all the preliminary work conducted to date shows that exactly. We develop number of proprietary innovative technologies that allow us to treat disorders of the central nervous system. We have a strong IP portfolio that includes 9 patent families, that
although is crucial for a pharma company like us, very few companies operating in our field are covered by has strong IP, if at all. In addition, our partnerships with other pharma companies, allow us to take part in developing ground breaking treatments for, addictions, cancer, etc. without compromising on the further development of our pipeline.
What is your perspective on the market(s) for cannabis/psychedelic derived medicines now and in the future?
SciSparc is a clinical-stage pharmaceutical company, as such we are not effected or related to the cannabis or medical cannabis market. having said that, much research during the years has shown the therapeutic potential of active compounds originally derived from the cannabis plant. Once the potential has been proven, we believe that using pharmaceutical grade compounds and manufacturing, and conducting trials that meet all of the most rigid criteria of the industry; FDA, EMA and others, is the right way to bring safe, effective and consistent drugs to the market. Same for treatments based on psychedelic substances; we believe that a strong and mindful pharmaceutical industry should be attentive to subject’s testimonials of therapeutic potential, especially in indications that have great unmet-need, while maintaining development at the strictest standards to adapt, control and manufacture both effective and safe products.
Can you describe the upcoming SCI-110 Phase 2B trial as to locations, patient population and objectives?
Our Phase IIb trial in Tourette Syndrome will take place in two leading sites: Hannover Medical School in Hannover, Germany, and the Tel Aviv Sourasky Medical Center, in Tel Aviv, Israel. The company recently received Ethics Committee’s approval from these two sites. Also, we are in advance negotiations to open 2 additional clinical sites in the US and Europe. The objective of this Phase IIb randomized, multi-national, multi center, double-blind, placebo controlled cross-over study is to evaluate the efficacy, safety and tolerability of SciSparc’s proprietary drug candidate SCI-110 in adult patients (between 18 and 65 years of age). The patients will be randomized in a 1:1 ratio to receive either SCI-110 or SCI-110 matched placebo. The primary efficacy objective of the study will be to assess tic severity change. The primary safety objective of the study will be to assess absolute and relative frequencies of serious adverse events for the entire population and separately for the SCI-110 and placebo groups.
Can you also describe your company’s clinical trial for SCI-210 in patients suffering from autism spectrum disorder with the same parameters as above?
SCI-210 is a proprietary combination of cannabidiol (CBD) and CannAmide™ vs. In the said study we will test the efficacy of SCI-210 vs. CBD monotherapy, for treating Autism. The clinical trial will take place at the Clinical Research Center and Negev Autism Center and Soroka University Medical Center. The study’s objectives are to evaluate the safety, tolerability and efficacy of SCI-210 in children (age 5-18) with ASD in a randomized, double- blind, placebo controlled with cross-over study. The design of the study includes a 20-week, randomized double-blind placebo-controlled with cross-over clinical trial of 60 children. The trial has three primary efficacy end points: the Aberrant Behavior Checklist-Community (ABC-C) parent questionnaire; the Clinical Global Impressions-Improvement (CGI-I) performed by a clinician; the effective therapeutic dose.
Can you estimate the total addressable markets for the products you currently have in development?
The global Alzheimer’s therapeutics market is projected to reach $13.6B by 2027 from $7.4B in 2019. Pain Management Therapeutics Market Size to Reach US$ 101.27 BN by 2029. The global ASD therapeutics market expected to reach approximately $4.6B by 2026. TS and Status Epilepticus addressable markets combine, valued at approx. $10B.
We believe that our treatment has the potential to offer an effective and safe treatment which is especially crucial for indications with such a huge un-met need like we are pursuing.
Would you describe the scope of your company’s collaboration with Clearmind Medicine?
We are very excited about our collaboration with Clearmind Medicine. We believe that the combination of Clearmind’s psychedelic molecule, MEAI with SciSparc’s CannAmide™, has great potential to provide both effective and safe treatment for millions around the world that suffers from various addictions like alcoholism and cocaine and binge behaviors.
What were your company’s biggest accomplishments in the last year?
This year we took significant steps in our clinical development programs, amongst other- commencing our SCI-110 phase IIa in Alzheimer’s disease, advanced the preparations for SCI-110 phase IIB trial in TS, for SCI-210 clinical trial to treat autism and more. In addition, in a very short time we expanded our collaboration with Clearmind Medicine, filing 2 new patent applications and reported positive results for alcohol consumption.
SPRC has a tiny share structure. How will you fund continuing clinical trials and operations in the foreseeable future?
The company had $6.9 million in cash as of December 31, 2021 and completed a private placement in June 2022 that raised an additional $10 million in gross proceeds, and the company has no long term debt. In 2021, the company had research and development expenses of $2.0 million and general and administrative expenses of $3.8 million. With this run rate, management estimates the company has the cash needed for the Phase IIb study for SCI-110 for the treatment of TS and for operations for at least the next 18 months.
Which aspect of your company makes you enthusiastic?
The opportunity to help people in need, people who suffers, their families and the community around them by developing a safe and effective treatments.
Thank you for answering our questions Oz!
The Traders News Team
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