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Therapix Biosciences Raises $2.6 Million in Private Placement

Jun 29, 2020•about 5 years ago

Amount Raised

$2 Million

Round Type

seed

Tel Aviv

Description

Therapix Biosciences Ltd. ("Therapix" or the "Company") (Nasdaq: TRPX), a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments, today announced that it has entered into definitive agreements with several accredited and institutional investors providing for the issuance of an aggregate of 5.2 million American Depositary Shares ("ADSs") at a purchase price of $0.50 per ADS, and warrants to purchase up to 2.6 million American Depositary Shares in a private placement (the "Warrants," and together with the ADSs: the "Securities").

Company Information

Company

Therapix Biosciences (Nasdaq: Trpx):

Location

Tel Aviv, Tel-Aviv District, Israel

About

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 tetrahydrocannabinol (THC) and/or non-psychoactive cannabidiol (CBD): THX-110 for the treatment of Tourette syndrome and for the treatment of obstructive sleep apnea; THX-160 for the treatment of pain; and THX-210 for the treatment of autism spectrum disorder and epilepsy. Please visit our website for more information at www.therapixbio.com, the content of which is not a part of this press release.