SciSparc .(US:SPRC) Globenewswire·2025-11-26 12:38Core Viewpoint - SciSparc Ltd. has signed a binding term sheet to acquire a portfolio of patents, trademarks, and intellectual property rights related to innovative endoscopic systems, including the MUSE™ system, from Xylo Technologies Ltd. This acquisition aims to enhance SciSparc's capabilities in the medical device market, particularly for treating gastroesophageal reflux disease (GERD) [1][4]. Company Overview - SciSparc Ltd. operates through its majority-owned subsidiary NeuroThera Labs Inc., focusing on clinical-stage pharmaceutical developments, particularly in cannabinoid pharmaceuticals [7]. - The company is engaged in drug development programs targeting conditions such as Tourette syndrome, Alzheimer's disease, and autism spectrum disorder (ASD) [7]. Acquisition Details - The acquisition includes the complete portfolio of intellectual property rights associated with the MUSE™ system, which is designed for transoral fundoplication, a minimally invasive procedure for GERD treatment [2][4]. - In exchange for the acquired assets, SciSparc will issue shares representing 19.99% of its outstanding share capital to Xylo upon closing of definitive agreements [4]. Market Potential - The global GERD device market was valued at approximately $2.5 billion in 2024 and is projected to grow to $3.03 billion by 2030, with a compound annual growth rate (CAGR) of 3.24% from 2025 to 2030 [5]. - SciSparc plans to replicate Xylo's successful commercialization model from Greater China to high-growth regions such as North America, Europe, and Latin America through exclusive partnerships with regional distributors [3].