Quantum leap, SciSparc Ltd. (NASDAQ: SPRC) Subsidiary NeuroThera Labs acquires CliniQuantum for $9.5 million

SciSparc Ltd. (NASDAQ: SPRC) announced that its subsidiary NeuroThera Labs Inc. (NTLX) completed the acquisition of approximately 54% of CliniQuantum Ltd., a private Israeli technology company.

NeuroThera acquired 56,375 ordinary shares of CliniQuantum in exchange for 56,600,000 common shares valued at approximately CAD$9,459,954.20, based on NeuroThera’s 20-day volume weighted average trading price on the TSX Venture Exchange as of the share purchase agreement date.

The transaction includes potential earn-out payments of up to $2,500,000 over three years. These payments consist of $500,000 for each of the first three patent applications filed regarding the licensed technology, up to $1,500,000 total, and 7% of certain fundraising proceeds raised by NeuroThera, up to $1,000,000.

CliniQuantum develops a platform using quantum simulation and quantum Monte Carlo methods for clinical trial data analysis. The company aims to improve clinical trial precision by identifying patient subpopulations that respond to investigational therapies.

CliniQuantum holds an exclusive, worldwide, royalty-bearing license from Quantum X Labs Ltd. for certain patents and know-how in quantum simulation and quantum Monte Carlo applications in clinical trials. The licensed patent is a U.S. provisional patent application entitled “Generating Quantum Markov Chain Monte Carlo Sampling Points for Continuous Distribution Functions.”