TEL AVIV, Israel, Jan. 9, 2018 /PRNewswire/ -- Therapix Biosciences
Ltd. (NASDAQ: TRPX) ("Therapix" or the "Company"), a specialty,
clinical-stage pharmaceutical company focusing on the development
of cannabinoid-based treatments, is expanding into precision
medicine through a new fully-owned subsidiary in order to develop
novel solutions for pain. This new subsidiary will complement the
Company's cannabinoid-based drug development strategy.
Ascher Shmulewitz, M.D., Ph.D.,
Interim CEO of Therapix, said, "We believe there is a large gap in
medicine between current pharmaceutical treatments and the specific
requirements of patients, which we plan to address. Recently, this
gap has come into particular focus through the large and growing
opioid crisis, which is having an extreme cost on human lives. The
need for novel solutions has driven our decision to build a
precision medicine arm while continuing to pursue our existing
R&D efforts targeting the endocannabinoid system."
Therapix will elaborate on this additional strategic area of
focus, with the goal of creating a full-circle, patient-centric
approach during a corporate presentation today at 3:00 pm (PST) the Biotech Showcase™ 2018 in
San Francisco, California.
Therapix has previously announced a Memorandum of Understanding
with Israel's Assuta Medical
Centers, Ltd., to develop first-in-class therapeutic products in
the fields of precision medicine and cannabinoids. The Company has
also announced a pre-clinical study to evaluate the opioid-sparing
effects of two synthetic cannabinoids, synthesized by Raphael
Mechoulam, Ph.D., Professor of Medicinal Chemistry at Hebrew University and Chairman of Therapix's
Scientific Advisory Board.
Dr. Shmulewitz added, "Our goals have now expanded to address
all the steps in a patient's journey through treatment. While we
are still focused on drug development, we are now also planning to
implement a patient-centered approach to new technologies and
products for pain. We expect to utilize tools such as big data to
further our understanding of patients' needs and attempt to develop
new products."
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 the following drug development programs based on repurposing an
FDA-approved synthetic cannabinoid (dronabinol): THX-110 for the
treatment of Tourette syndrome (TS), for the treatment of
Obstruactive Sleep Apnea (OSA), and the treatment of Pain; 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
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. 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:
oz@therapixbio.com
Media Contact:
Susan Forman, DGI
+1-212-825-3210
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SOURCE Therapix Biosciences Ltd