Israeli Cannabinoid Drug Maker Launches IPO, Eyes Nasdaq
Tel Aviv, Israel-based Therapix BioSciences has filed for a modest $12 million initial public offering as it looks to build up its portfolio of cannabinoid-based meds.
The 12-year-old biotech is already listed on the Tel Aviv Stock Exchange and also trades on the over-the-counter (OTC) market in the U.S., but is now looking to step up and be listed on the Nasdaq, where its ticker will be $TRPX, according to Renaissance Capital.
It is working on a drug based on cannabinoids and “the entourage technology for treating Tourette syndrome,” and says it is also preparing for the development of a cannabinoid-based drug for treating impairments in cognitive functioning (including preliminary stages of Alzheimer’s disease).
Last week, it moved its tablet formulation of THC toward the clinic having wrapped up formulation work on the program it licensed from Belvit in June--setting it up to kick off a Phase I in 2017.
Therapix believes the sublingual...
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