In return, SciSparc shall issue to Xylo an amount of ordinary shares of the company.
SciSparc Ltd. (SPRC) on Wednesday said that its unit NeuroThera Labs Inc. signed a binding term sheet to acquire a treasury of patents, trademarks and intellectual property rights for innovative endoscopic systems and medical cameras from Xylo Technologies Ltd.
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Shares of the company jumped 28% in the pre-market session at the time of writing.
The company said it is also acquiring intellectual property rights to the MUSE system, a single-use, innovative endoscopic device designed for a minimally invasive procedure to treat gastroesophageal reflux disease. In return, SciSparc shall issue to Xylo an amount of ordinary shares of the company.
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