Vancouver-based NeuroThera Labs Inc. (TSXV: NTLX) has completed a non-brokered private placement in two tranches, raising aggregate gross proceeds of CAD 5.4 million (USD 3.9 million) to fund working capital at the clinical-stage cannabinoid pharmaceuticals company.
Israel-based parent SciSparc Ltd. (Nasdaq: SPRC) anchored the round with CAD 2.7 million, representing 50% of total proceeds. SciSparc subscribed for 22,500,000 units priced at CAD 0.12 per unit, each comprising one common share and one warrant exercisable for three years. The warrants carry an acceleration provision under which, upon approval of NeuroThera's securities for trading on Nasdaq, the expiry date of 50% of unexercised warrants will be accelerated with three business days' notice. Following the financing, SciSparc holds approximately 44.6% of NeuroThera's issued and outstanding common shares, with that stake valued at approximately CAD 30 million (USD 21.8 million).
NeuroThera was formed in October 2025 when SciSparc acquired a controlling interest in TSX Venture Exchange-listed shell company Miza III Ventures Inc. and transferred its clinical-stage pharmaceutical portfolio into the resulting entity, valued at approximately USD 11.6 million at the time. The pipeline traces its scientific origins to the Hebrew University of Jerusalem, where the late Prof. Raphael Mechoulam — widely credited with isolating THC and discovering the endocannabinoid system — served on SciSparc's scientific advisory board and directly synthesised at least one pipeline candidate.