BUZZ-SciSparc jumps after deal to buy Xylo's medical device patents

Reuters11-26

** Shares of Israel-based drug developer SciSparc SPRC.O rise 36.11% to $3.07 premarket

** Co says it has agreed to buy a portfolio of patents and intellectual property for medical devices from Xylo Technologies

** The deal includes the "MUSE system," a single-use endoscopic device used in a minimally invasive procedure to treat acid reflux disease, known as GERD

** Xylo to get 19.99% of SPRC’s share capital or pre-funded warrants at closing, co says

** Co says it plans to replicate Xylo’s China commercialization model in North America, Europe and Latin America

** Up to last close, stock down ~68% YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))

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