SciSparc Ltd. announced its had been received patent approval for its proprietary combination of opioids and n-acylethanolamines for pain treatment (the "Patent"). The Patent has been granted by the Canadian Intellectual Property Office, the government agency in Canada that administers intellectual property rights and legislation for patents. The Patent has been granted by the Canadian Intellectual Property Office, the government agency in Canada that administers intellectual property rights and legislation for patents.

According to a report by Grand View Research, the global opioid market was valued at $22.8 billion in 2022 and is anticipated to grow at a compound annual growth rate of 1.4% from 2023 to 2030. The increasing rate of regulatory approvals and the launch of new opioid medicines to treat patients with chronic pain are the factors expected to drive market growth. At the same time, opioid abuse and addiction has been a global growing epidemic for more than a decade.