SciSparc Ltd. (NASDAQ:SPRC) announced a definitive agreement to acquire a portfolio of medical endoscopy patents on Tuesday.
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The company provided details of its planned purchase of intellectual property.
SciSparc said it would acquire a treasury of patents, trademarks and related rights tied to endoscopic systems and medical cameras.
The intellectual property included assets linked to the MUSE endoscopic system designed for minimally invasive procedures.
SciSparc engages in clinical-stage pharmaceutical and technology development through its majority-owned subsidiary NeuroThera Labs Inc.
The company said the acquisition would extend its presence into the medical device space and accelerate commercialization plans.
Commercial Strategy
SciSparc said it would begin to commercialize the acquired technologies once the deal closed, aiming to replicate existing distribution success models.
The firm said it planned to leverage licensing and regional partnerships to expand market reach in North America, Europe and Latin America.
Under the agreement, SciSparc would issue ordinary shares to the seller at closing, representing about 19.99% of the company’s outstanding stock.
The company said it might issue pre-funded warrants instead of some shares at its discretion.
Closing Conditions
SciSparc said customary conditions, including regulatory approvals, must be satisfied before the transaction finalized.
The company said it expected to close the acquisition by March 8, 2026, subject to those conditions.
A market research report projected growth in the global GERD device market, driven by demand for innovative endoscopy systems.
This move might help SciSparc extend its reach into new medical segments alongside its pharmaceutical initiatives.
SPRC Price Action: SciSparc shares were trading lower by 12.07% to $1.27 at publication on Tuesday.
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