TEL AVIV, Israel, Nov. 2, 2017 /PRNewswire/ -- Therapix Biosciences
Ltd. (NASDAQ: TRPX) ("Therapix" or the "Company"), a specialty
clinical-stage pharmaceutical company developing cannabinoid-based
treatments, has appointed Ascher
Shmulewitz, M.D., Ph.D., the Company's Chairman of the Board
of Directors, to the role of Interim Chief Executive Officer (CEO),
effective immediately.
The Company's Board of Directors and Audit Committee, as
confirmed by yesterday's shareholder approval at its annual general
meeting of shareholders, determined that authorizing Dr. Shmulewitz
to serve as Interim CEO is currently the most effective leadership
structure. As one of Therapix's key founding investors, Dr.
Shmulewitz brings significant experience in cannabinoid-based
medicine and has a well-established track record leading
biopharmaceutical companies.
Dr. Shmulewitz commented, "I am pleased by the decision of the
Board and shareholders to appoint me as Interim CEO and I look
forward to the opportunities ahead. I believe that this Company's
strong portfolio of therapeutic candidates for unmet needs is
promising."
Dr. Shmulewitz has served as Chairman of Therapix since
January 2014 and on the Company's
Board of Directors since February
2013. He founded and invested in more than two dozen life
science companies including NeoVision Corp., Labcoat Medical Ltd.,
Arteria Corp, Circulation Inc. and X-Cardia Inc., and led many of
these companies to successful exits, including through merger and
acquisition transactions with large life sciences companies.
Dr. Shmulewitz has vast venture capital experience investing in
and managing dozens of companies and ventures. In 1995, he
co-founded San Francisco Science and the Incumed Group, which
provide seed funding. He is the founder of Medgenesis Partners
Ltd., an Israeli private investment firm that has invested in more
than a dozen ventures. He also previously held senior executive
positions at Advanced Technology Laboratories Inc. from 1988 to
1992. Dr. Shmulewitz received an M.D. from The Technion American
Medical School and a Ph.D. in engineering from Tel Aviv University in Israel.
About Therapix Biosciences:
Therapix Biosciences Ltd. is a specialty clinical-stage
pharmaceutical company led by an experienced team of senior
executives and scientists. Our focus is 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): THX-110 targets
the treatment of the symptoms of Tourette syndrome; and THX-130
targets the high-value and under-served market of mild cognitive
impairments and Traumatic Brain Injury (TBI). Please visit our
website for more information at 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. Such forward-looking statements used in this
press release include, among other things, references to the
clinical and commercial potential of THX-OSA01 for the treatment of
Obstructive Sleep Apnea. Actual results could differ from those
projected in any forward-looking statements due to numerous
factors. Such factors include, among others, our ability to raise
the additional funding needed to continue to pursue our business
and product development plans, the inherent uncertainties
associated with developing new products or technologies, our
ability to obtain regulatory approval for our product candidates,
our ability to commercialize our product candidates, competition in
the industry in which we operate and overall market conditions. 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 annual
report on Form 20-F dated May 1, 2017
filed with the SEC, which is available on the SEC's website,
www.sec.gov.
For further information:
Investor
Contact:
Josh Blacher, CFO,
Therapix Biosciences, josh@therapixbio.com
Therapix Biosciences Ltd.
For further information: +972-3-616-7055
Media Contact:
Susan
Forman, DGI
+1-212-825-3210
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SOURCE Therapix Biosciences Ltd