SciSparc Announces Results For MitoCareX Bio With Its Drug Discovery Platform; MitoCareX Bio Met Its Second Milestone As Part Of Its Joint Venture Agreement With The Company
Portfolio Pulse from Benzinga Newsdesk
SciSparc Ltd. (NASDAQ:SPRC) announced that its joint venture MitoCareX Bio met its second milestone in drug discovery for cancer treatment. This achievement triggers an additional $600,000 investment by SciSparc into MitoCareX Bio, after which SciSparc will hold 50.1% of the share capital.
December 13, 2023 | 1:20 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
SciSparc's joint venture MitoCareX Bio achieved a key milestone, leading to a $600,000 investment by SciSparc, which will increase its ownership to 50.1% in MitoCareX Bio.
The achievement of the second milestone by MitoCareX Bio is a positive development for SciSparc, indicating progress in their joint venture's drug discovery efforts. The additional investment and increased ownership suggest confidence in the venture's potential, which could be viewed positively by investors and may lead to a short-term increase in SciSparc's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100