TEL AVIV, Israel, Nov. 10, 2017 /PRNewswire/ -- Therapix
Biosciences Ltd. (Nasdaq: TRPX), a specialty clinical-stage
pharmaceutical company specializing in the development of
cannabinoid-based treatments, executed a non-exclusive material
transfer agreement with Yissum, the technology transfer company of
The Hebrew University of Jerusalem, for
two synthetic cannabinoids synthesized by Raphael Mechoulam, Ph.D., Professor of medicinal
chemistry at the university and Chairman of the Therapix Scientific
Advisory Board. Therapix plans to initiate a preclinical study
during the fourth quarter to evaluate the opioid-sparing effect of
these compounds in a rat model.
The opioid overuse epidemic in the
United States was recently declared a public health
emergency by President Donald Trump.
According to Medical Care, prescription opioid overdose,
abuse and dependence carries high costs for society with an
estimated total economic burden of $78.5
billion in the United
States alone. Nevertheless, for immediate relief of
moderate-to-severe acute as well as chronic pain, opioids are
frequently the treatment of choice due to their rapid onset and
efficacy. However, due to their addictive nature and deleterious
adverse events that may lead to lethal outcomes, there is a need to
significantly reduce their effective therapeutic dose.
Dr. Adi Zuloff-Shani, Chief
Technology Officer at Therapix, said, "To address the opioid issue,
Therapix is collaborating with Professor Mechoulam to develop a
therapy of innovative cannabinoids and opioids. The study builds
upon the innovative work of Professor Mechoulam and seeks to reduce
the use of opioids by combining them with proprietary cannabinoid
molecules to alleviate pain."
"Based on our research surrounding the effects of the
endocannabinoid system and how cannabinoids can play a role in pain
relief, our group of research scientists has synthesized
cannabinoids with improved binding affinity and target specificity,
which do not cause the therapeutically undesirable cannabis
psychoactivity," stated Professor Mechoulam. "In view of their
parallel actions in pain, cannabinoids and opioids together may
allow the development of a novel therapy that could exhibit a
synergistic effect that reduces the therapeutic effective dose of
opioids."
Josh Blacher, Chief Financial
Officer at Therapix, said, "We are privileged to be working with
Professor Mechoulam and the Hebrew
University in paving the way forward to a potential new
therapeutic that may one day help to address this deadly social and
medical crisis."
About Therapix Biosciences Ltd.:
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 the following drug development programs based on repurposing an
FDA approved synthetic cannabinoid (dronabinol): THX-110 and
THX-120 for the treatment of Tourette syndrome (TS) and Obstructive
Sleep Apnea (OSA); THX-130 for the treatment of Mild Cognitive
Impairment (MCI) and Traumatic Brain Injury (TBI); and THX-150 for
the treatment of infectious diseases. Please visit our website for
more information at www.therapixbio.com.
About Yissum:
Yissum is the technology transfer company of The Hebrew University of Jerusalem. Founded in 1964, it
is the third company of its kind to be established, and serves as a
bridge between cutting-edge academic research and a global
community of entrepreneurs, investors, and industry. Yissum's
mission is to benefit society by converting extraordinary
innovations and transformational technologies into commercial
solutions that address our most urgent global challenges.
Yissum has registered over 10,000 patents covering 2,800
inventions; licensed over 900 technologies and has spun out more
than 125 companies. Yissum's business partners span the globe and
include companies such as Boston Scientific, Google, ICL, Intel ,
Johnson & Johnson, Merck, Microsoft, Novartis and many more.
For further information please visit www.yissum.co.il
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 the Company's product candidates. 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