Scisparc secures favorable settlement in lawsuit it filed, receiving cash compensation and a full release from all commitments, royalties, and allegations asserted against it on claimed core technology

Tel aviv, israel, feb. 18, 2025 (globe newswire) -- scisparc ltd. (nasdaq: sprc) ("company" or "scisparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, announced today that it has reached an important settlement agreement (the “settlement”) regarding a lawsuit it filed in february 2022 with the economic division of the tel aviv-jaffa district court against six of the company's former directors (the “defendants”) case number 34426-02-22 (the “suit”). the suit included allegations of breaches of fiduciary duties of the defendants under the israeli companies law, 1999, relating to a prior acquisition of a pain clinic network through a subsidiary of the company.
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