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.
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
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:
Josh Blacher, CFO, Therapix Biosciences, email@example.com
Therapix Biosciences Ltd.
For further information: +972-3-616-7055
Susan Forman, DGI
SOURCE Therapix Biosciences Ltd