FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., June 9, 2022 /PRNewswire/ -- The central nervous system (CNS) consists of the brain and spinal cord and brain and nervous system problems are more common and increasing in today's world. The nervous system is vulnerable to various disorders. It can be damaged by trauma, infections, degeneration, structural defects, tumors, blood flow disruption, and autoimmune disorders. These neurological disorders include multiple sclerosis, Alzheimer's disease, Parkinson's disease, epilepsy, and stroke, and can affect memory and ability to perform daily activities. Other factors supporting the CNS disorders market growth include rising prevalence of mental illnesses and lifestyle-associated CNS disorders, increasing patient awareness about psychiatric and neurodegenerative disorders, and growing elderly population. A report from iHealthcareAnalyist projected that the global market for central nervous system therapeutics anticipated to become $154 billion by 2027, growing at a CAGR of 9% over the forecast period, driven by increasing prevalence of CNS disorders, continued strength of therapies for multiple sclerosis, strong pipeline of late-stage clinical candidates, high unmet medical needs and rising demand for effective therapeutic options. Neurological disorders are increasingly recognized as major causes of death and disability worldwide. According to World Health Organization (WHO), the central nervous system disorders such as Alzheimer's disease, multiple sclerosis, epilepsy, Parkinson's disease, and stroke affect more than 1 billion people worldwide." Active Companies in the markets today include SciSparc Ltd. (NASDAQ: SPRC), HeartCore Enterprises, Inc. (NASDAQ: HTCR), Qutoutiao Inc. (NASDAQ: QTT), Cyren (NASDAQ: CYRN), Energy Focus, Inc. (NASDAQ: EFOI).
HealthcareAnalyist concluded: "The North America region dominated the market for CNS therapeutics and held the largest revenue share of revenue stream, followed by the Europe region. The increasing incidence of mental health and neurodegenerative disorders such as multiple sclerosis, Alzheimer's disease, Parkinson's disease, and epilepsy, as well as presence of large pharmaceutical companies in the region and growing novel therapy initiatives by major competitors, and favorable reimbursement scenario are some of the factors driving the market growth in developed countries."
SciSparc Ltd. (NASDAQ: SPRC) BREAKING NEWS:SciSparc' Board of Directors Provides Strategic Decision - SciSparc Ltd., a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system (the "Company" or "SciSparc"), today announced that the Company's board of directors resolved to initiate a process to review potential strategic transactions with the goal of maximizing shareholder value.
Potential strategic transactions to be explored and evaluated during the review process may include additional investments in innovative companies, acquisitions, a strategic partnership with one or more parties, or the licensing of one or more of the Company's proprietary technologies or indications. If any such transaction results in equity consideration, the Company may consider making dividend in kind distributions, subject to applicable law and regulations, to its shareholders.
Pending any decision to undertake any such strategic transaction, the Company will continue its development activities in accordance with its existing business strategy.
"Our cash position provides us the opportunity to carefully consider a range of potential strategic alternatives designed to maximize shareholder value," said Oz Adler, SciSparc's Chief Executive Officer. "As we assess potential external strategic alternatives, we continue to seek to create value through the development of unique clinical-stage treatments for the central nervous system, including Alzheimer's disease, Tourette syndrome and more. We plan to continue our trials according to the FDA guidelines and explore our new path with psychedelic pharmaceutical treatments."CONTINUED…Read this full release for SciSparcat:https://investor.scisparc.com/press-releases/
Other recent developments in the biotech industry include:
HeartCore Enterprises, Inc. (NASDAQ: HTCR) recently announced that it has signed agreements with SYLA Holdings Co. Ltd. ("SYLA") for its recently announced Go IPO consulting service ("Consulting Agreement"). This engagement marks the Company's third Go IPO deal in a two-month period.
As part of the Consulting Agreement, HeartCore will assist SYLA in its efforts to complete its initial public offering and list on the Nasdaq Stock Market ("Nasdaq"). Through Go IPO, the Company will service clients by assisting throughout the audit and legal firm hiring process, translating requested documents into English, assisting in the preparation of documentation for internal controls required for an initial public offering or de-SPAC, providing general support services, assisting in the preparation of the S-1 or F-1 filing, and more. As compensation for its services, HeartCore expects to generate from SYLA an aggregate of $500,000 in initial fees throughout the six-month term. In addition, HeartCore has received warrants to acquire 2% of SYLA's common stock, on a fully diluted basis.
Qutoutiao Inc. (NASDAQ: QTT) recently announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2021 with the Securities and Exchange Commission (the "SEC") on May 2, 2022. The annual report can be accessed on the Company's investor relations website at https://ir.qutoutiao.net and on the SEC's website at https://www.sec.gov.
The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to Investor Relations Department, Qutoutiao Inc., Building No. 8, Shanghai Pudong Software Park, 519 Yi De Road, Pudong New Area, Shanghai 200124, People's Republic of China.
Cyren (NASDAQ: CYRN) recently announced that it has entered into a definitive agreement to divest its legacy Secure Email Gateway business to Content Services Group GmbH for €10,000,000 in cash. The purchase price is subject to certain adjustments and the transaction is expected to close prior to August 31, 2022, with customary closing conditions. The divestment will enable Cyren to focus on its best strategic growth opportunities to deliver optimal value to its customers and shareholders.
"This transaction is fully aligned with our strategy to focus our efforts and resources on products and market opportunities that we believe offer the best growth opportunities for Cyren," said Brett Jackson, Cyren's Chief Executive Officer. "The proceeds from this transaction will strengthen our balance sheet, allow us to fund additional growth-related investments and streamline our product line and overall business. We believe that Content Services Group is a good strategic fit for this business, will be a good home for our team members associated with the business, and is committed to continuing to support the products and customers.
Energy Focus, Inc. (NASDAQ: EFOI) recently announced it will showcase its three core product lines at LightFair 2022, to be held at the Las Vegas Convention Center on June 21-23, 2022.
The products taking center stage at the Energy Focus booth, #2055, will be:
EnFocus: With "Simple, Secure Healthy Light" the EnFocus Circadian Lighting System provides effortless circadian lighting with simple solutions for color tuning and control. EnFocus delivers autonomous or manual control of human-centric lighting applications over existing wire lines, and its simple retrofit or new construction installation is the hallmark of power line control lighting solutions that are network safe, sustainable, and less costly than other dimming and color tuning systems.
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