SciSparc Ltd. (NASDAQ: SPRC) stock is surging on Thursday, with a session volume of 58.21 million compared to the average volume of 2.49 million as per data from Benzinga Pro.
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The specialty clinical-stage pharmaceutical company, which focuses on the development of therapies to treat disorders of the central nervous system, said on Thursday, the board of directors had resolved to initiate the launch of an innovative initiative to advance 3D protein modeling using quantum computing technology.
SciSparc will form a dedicated research team to integrate quantum computing algorithms into 3D protein modeling with the aim of creating new intellectual property.
Initial efforts will focus on refining quantum algorithms to simulate protein dynamics and binding interactions, targeting applications in drug discovery for neurological and rare diseases, areas where SciSparc already has expertise. SciSparc expects to incorporate a new wholly owned Israeli subsidiary, which will operate the initiative.
Traditionally, scientists use computers to predict these 3D structures, but this process is challenging because proteins are dynamic, constantly shifting between different conformations and classical computers often struggle to model these changes accurately.
SciSparc’s new initiative aims to leverage quantum computing, a cutting-edge technology that uses principles of quantum mechanics to perform calculations far beyond the capabilities of traditional computers.
Unlike classical computing methods, quantum computing might simulate the energy dynamics of proteins with greater precision, capturing their complex movements and interactions with their ligands with much higher accuracy.
The initiative focuses on developing quantum-enabled tools to:
• Accurately predict how proteins fold into their 3D shapes.
• Model how proteins interact with potential drugs (protein-ligand interactions).
• Accelerate the discovery of new drugs by providing highly precise predictions.
SPRC Price Action: SciSparc stock is up 61.88% at $6.20 at publication on Thursday.
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