NeuroThera to acquire 55% stake in quantum computing bio data company

SciSparc (SPRC)announced that NeuroThera Labs, in which SciSparc holds a controlling interest of approximately 75%, has entered into a non-binding term sheet with an Israeli-based pioneering quantum computing bio data company focused on quantum-enabled clinical analytics. Pursuant to the Term Sheet, NeuroThera will acquire a 55% equity interest in the Target Company from certain selling shareholders of the Target Company, calculated on a post transaction fully diluted basis, in consideration for the issuance to the Selling Shareholders of that amount of common shares, no par value per share, of NeuroThera equal to 40% of NeuroThera’s share capital, calculated on a non-diluted basis. By harnessing the principles of quantum computing, bio data can be stored, manipulated, and analyzed far more efficiently in comparison to the existing technologies, potentially revolutionizing the field through accelerated processing and enhanced insights. This innovative approach is based on key quantum phenomena such as superposition, entanglement, and inherent parallelism to deliver faster computations and superior machine learning performance. In turn, it strives to redefine clinical trials via quantum intelligence, seamlessly integrating quantum computing with bioinformatics and clinical data science to potentially unlock precision and speed in medical research and development.