TEL-AVIV, Israel, April 5, 2017 /PRNewswire/ --
Therapix Biosciences Ltd. (NASDAQ,
TASE: TRPX), a specialty clinical-stage pharmaceutical company
specializing in the development of cannabinoid-based drugs, today
announced that it has signed a sublicense agreement for Yissum
Research Development Company of the Hebrew
University Ltd.'s nasal drug delivery technology.
Under the terms of the agreement, Yissum will grant Therapix an
exclusive, worldwide, sub-licensable, royalty-bearing license to
its technology for the nasal delivery of cannabinoids.
The technology, developed by Professor Elka Touitou from the Institute of Drug Research
at the Hebrew University of Jerusalem,
facilitates administration and effective nasal absorption of
tetrahydrocannabinol, or THC, the active pharmaceutical ingredient
in the drugs developed by Therapix.
"This agreement with Yissum paves the way for the development
and marketing of new cannabinoid-based treatment offerings for
people suffering from a variety of neurological conditions," said
Therapix CEO Dr. Elran Haber. "Compared with standard oral
administration, we expect the nasal delivery technology developed
by Professor Touitou and her team at Hebrew
University to offer improved bioavailability, efficacy, and
a shorter reaction time for patients."
The license agreement with Yissum has the potential to advance
Therapix's strategy to develop proprietary cannabinoid delivery
technologies to improve drug administration, including nasal and
sublingual delivery methods for THC, with formulations designed to
increase efficacy.
About Therapix Biosciences Ltd.
Therapix Biosciences Ltd. is a specialty clinical-stage
pharmaceutical company led by an experienced team of senior
executives and scientists, focused on creating and enhancing a
portfolio of technologies and assets based on cannabinoid
pharmaceuticals. With this focus, the company is currently engaged
in two internal drug development programs based on repurposing an
FDA-approved synthetic cannabinoid (dronabinol): Joint Pharma,
developing THX-TS01 targeted to the treatment of Tourette's
syndrome; and BrainBright Pharma, developing THX-ULD01 targeted to
the high value and under-served market of mild cognitive
impairments. More information is available online at
http://www.therapixbio.com.
Forward-Looking Statements
This press release contains forward-looking statements about the
Company's expectations, beliefs, and intentions. Forward-looking
statements can be identified by the use of forward-looking words
such as "believe", "expect", "intend", "plan", "may", "should",
"could", "might", "seek", "target", "will", "project", "forecast",
"continue" or "anticipate" or their negatives or variations of
these words or other comparable words or by the fact that these
statements do not relate strictly to historical matters. For
example, forward-looking statements are used in this press release
when we discuss the potential of the Yissum licensed technology,
our expectation that it will improve bioavailability, efficacy and
reaction time and the description of our technology and its
proposed uses. These forward-looking statements involve certain
risks and uncertainties, including, among others, risks that could
cause the Company's results to differ materially from those
expected by Company management or otherwise described in or implied
by the statements in this press release. Any forward-looking
statement in this press release speaks only as of the date of this
press release. The Company undertakes no obligation to publicly
update or review any forward-looking statement, whether as a result
of new information, future developments or otherwise, except as may
be required by any applicable securities laws. More detailed
information about the risks and uncertainties affecting the Company
is contained under the heading "Risk Factors" in Therapix
Biosciences Ltd.'s Prospectus dated March
22, 2017 filed with the SEC, which is available on the SEC's
website, http://www.sec.gov .
For further details, please contact
Noa Katz of Goldfinger
Communications at +972-50-863-3162
SOURCE Therapix Biosciences Ltd