SciSparc (SPRC)signed a definitive agreement to acquire a treasury of patents, trademarks and intellectual property rights for innovative endoscopic systems and medical cameras, including the MUSE system, from Xylo Technologies. The MUSE system is a single-use, innovative endoscopic device designed for transoral fundoplication, a minimally invasive procedure to treat gastroesophageal reflux disease, or GERD. SciSparc intends to commence commercialization of these patented technologies immediately following the transaction closing. Building on Xylo’s successful commercialization in Greater China through licensing and distribution agreement with a Shanghai-based medical instruments company in 2019, under which Xylo received $3M up front, SciSparc seeks to replicate this model across high-growth territories such as North America, Europe and Latin America. SciSparc will acquire the complete portfolio of patents, trademarks, know-how, and related intellectual property rights, mainly associated with the MUSE system, from Xylo. In consideration for the acquired assets, SciSparc will issue to Xylo an amount of ordinary shares of the company representing 19.99% of the issued and outstanding share capital of SciSparc.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPRC:
- SciSparc Receives Nasdaq Notice Over Minimum Stockholders’ Equity Non-Compliance
- SciSparc receives noncompliance notification from Nasdaq
- SciSparc Calls February 2026 Meeting to Approve New Deloitte Auditor and Executive Equity Awards
- SciSparc says Neurothera Labs granted patent by Israeli Patent Office
- SciSparc’s NeuroThera Labs Eyes Quantum Leap with New Acquisition