TEL AVIV, Israel, Oct. 7, 2014 (GLOBE NEWSWIRE) -- Therapix Bio (TASE:TRPX) (OTC:THXBY) today announced that its American Depository Receipts (ADRs) have been registered and approved for trading on OTCQB®. The ADRs, each representing 20 ordinary shares, began trading on October 6, 2014 under the symbol THXBY.
Therapix expects that the listing of the ADRs will support increased exposure among investors in the U.S. and other major financial centers as the Company more broadly communicates its unique business model and growth strategy, and further develops its portfolio of novel biopharmaceutical products.
"The listing of our ADRs on the OTCQB is an important step in our overall corporate development strategy as we continue working to build awareness of Therapix within the U.S. investment community and execute on our key growth initiatives," said Dr. Elran Haber, VP Business Strategy and Innovation at Therapix. "We believe that the area of synthetic cannabinoid-based pharmaceutical products is one with tremendous growth potential. We have a great deal of confidence in our current portfolio of product candidates, and we will look to strengthen it further as we continue moving forward."
Therapix is a specialty pharmaceutical company focused on synthetic cannabinoid-based therapies with attractive risk/return profiles that target large, high value, under-served markets.
Therapix is executing its strategy through acquisitions of cannabinoid-focused companies and technologies. It continues to identify unique opportunities and is building a robust pipeline based on synergistic integration of unique technologies.
As part of the strategy to invest in and acquire cannabinoid assets, the company announced on June 15, 2014, that a definitive investment agreement was signed between the company and Lara Pharm Ltd., a private company engaged in the field of medical cannabis. Its lead product, LP-306, is a unique synthetic formulation of THC administered through an inhaler, constituting a pharmaceutical substitution for medical marijuana.
The Company's portfolio also includes an orally administered anti-CD3 antibody for the treatment of various inflammatory diseases such as Non Alcoholic Steato-Hepatitis (fatty liver disease).
This statement may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation, including, but not limited to, estimations relating to expected ADR's listing effects and forecasts relating to the area of synthetic cannabinoid-based pharmaceutical products.
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