TEL AVIV, Israel, July 5, 2016 /PRNewswire/ --
Therapix Biosciences, (OTCQB: THXBY) (TASE: THXBY.TA), a pharma company specializing in the development and commercialization of cannabinoid-based drugs, announced today that it entered into a binding memorandum of understandings with Yissum, the technology transfer company of the Hebrew University of Jerusalem, to receive an exclusive, worldwide license to use a patent-protected formulation for nasal administration of cannabinoid substances. The technology, developed by Prof. Elka Touitou from the Institute of Drug Research at the Hebrew University of Jerusalem, facilitates administration and effective absorption of the active ingredient THC nasally.
The MOU joins the agreement signed last week with a Swiss drug development company to receive a worldwide and exclusive license to use a formulation for sublingual administration of ultralow dosages of THC. Such two agreements form part of the progress in the Company's operations in the development and marketing of the formulations for the indications on which the Company has chosen to focus, with an emphasis on treatment of cognitive impairments.
Dr. Elran Haber, Therapix's CEO, stated that, "In the last month, we signed two memoranda of understandings that are highly significant to the Company's advancement and realization of its business strategy. Such formulations will allow us to expand our development possibilities and broaden the Company's technological capability set. We believe, that through the technology for the nasal administration of the drug, we will be able to improve the bioavailability and efficacy, while shortening the reaction time and enhancing the safety profile of the active ingredient THC for treatment of the indications on which the Company is focused."
Therapix has recently filed an application with the U.S. Food and Drug Administration to approve an "orphan" drug designation for a drug (THX-TS01) developed based on the entourage technology, which combines cannabinoid substances in treating Tourette syndrome. The application was filed after the completion of the pre-clinical phase and proof-of-concept of the entourage technology and further to the Company's preparations towards the development of a drug based on the technology in the context of clinical trials in humans.
Therapix is an Israeli pharma company specializing in the development and commercialization of approved drugs that are based on cannabinoid molecules. The Company is listed on the Tel Aviv Stock Exchange and is also traded over-the counter (OTC) in the United States. The Company is engaged in the development of a drug based on cannabinoids and the entourage technology for treating Tourette syndrome, and is preparing for the development of a cannabinoid-based drug for treating impairments in cognitive functioning (including preliminary stages of Alzheimer's disease). The Company's Chairman is Dr. Ascher Shmulewitz and Dr. Elran Haber is its CEO.
For further details, Goldfinger Communications, Irit Radia, + 972-54-6699311 firstname.lastname@example.org
SOURCE Therapix Biosciences