Therapix Successfully Completed The Development Of A Formulation For A Tablet For Sublingual Administration Of THC For Pharmaceutical Use
TEL AVIV, Israel, October 31, 2016 /PRNewswire/ --
Therapix Biosciences, (OTCQB: THXBY) (TASE: THXBY.TA) the pharma company specializing in the development and commercialization of cannabinoid-based drugs, announced the successfully completion of the development phase of a unique formulation of a tablet for sublingual administration for pharmaceutical use. The tablet is expected to be used in the context of a clinical trial for treatment of impairments in cognitive functioning (including mild cognitive impairment that could result in Alzheimer's disease), towards which Therapix is currently preparing.
In June 2016, the Company entered into a binding memorandum of understandings with Belvit, a Swiss drug development company, for the receipt of a worldwide and exclusive license to use a formulation for sublingual administration of ultralow dosages of THC (the active ingredient in cannabis), for the purpose of developing and marketing the formulation in the indications on which the Company has chosen to focus, with an emphasis on treatment of cognitive impairments.
According to scientific literature, sublingual administration of THC in the designated formulation, is superior and more efficient than oral administration.
Dr. Elran Haber, Therapix's CEO, says that Therapix continues to realize its business strategy in the research and development of cannabinoid-based drugs. "The completion of the formulation phase is one of the Company's targets for 2016, and its achievement advances the Company towards the commencement of the first clinical trial, which is expected to begin in North America in the beginning of 2017.
About Therapix
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).
For further details, Goldfinger Communications, Irit Yosilevitch, 052-3887799, yirit@goldfingercom.com
SOURCE Therapix Biosciences