SciSparc Ltd (NASDAQ:SPRC) shares are trading lower Monday. The company announced results for MitoCareX Bio with its drug discovery platform.
What Happened: SciSparc said MitoCareX Bio, which focuses on discovery and development of drugs for cancer treatment, achieved positive results with the development of its laboratory capabilities by establishing a variety of small-molecule screening platforms.
The new development marks SciSparc’s second milestone achievement, triggering an additional $600,000 investment in the joint venture. Following the investment, SciSparc will hold 50.1% of the outstanding share capital of MitoCareX Bio.
SciSparc is a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders and rare diseases of the central nervous system.
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SPRC Price Action: SciSparc shares were down 0.40% at $10.02 at the time of writing, according to Benzinga Pro.
Photo: 3844328 from Pixabay.
