Israeli Cannabinoid Biotech Therapix IPOs on NASDAQ

therapix bio
Therapix Biosciences Ltd. Announces Pricing of U.S. Initial Public Offering and NASDAQ Listing

TEL AVIV, Israel, March 22, 2017 /PRNewswire/ —

Therapix Biosciences Ltd. (NASDAQ: TRPX) (TASE: THXBY), a specialty clinical-stage pharmaceutical company specializing in the development of cannabinoid-based drugs, today announced the pricing of its initial public offering in the United States of 2,000,000 American Depository Shares (“ADSs”). Each ADS, representing 40 ordinary shares of the Company, is offered at a price to the public of $6.00.

The gross proceeds to Therapix from this offering are expected to be $12,000,000, prior to deducting underwriting discounts, commissions and other offering expenses. Therapix has granted the underwriters a 45-day option to purchase up to an additional 300,000 ADSs to cover over-allotments, if any.

Therapix plans to use the net proceeds from the offering to advance the formulation and clinical development efforts for its two lead product candidates, including Phase II clinical trials, and for working capital and other general corporate purposes.

Therapix’s ADSs are scheduled to begin trading on the NASDAQ Capital Market on March 22, 2017, under the symbol “TRPX”. The offering is expected to close on or about March 27, 2017, subject to customary closing conditions.

Laidlaw & Company (UK) Ltd., is acting as the sole book running manager for the offering.

The Securities and Exchange Commission declared effective a registration statement on Form F-1 relating to these securities on March 21, 2017. A final prospectus relating to this offering will be filed with the SEC. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained by contacting Laidlaw & Company (UK) Ltd., 546 5th Avenue, New York, New York 10036, telephone 212-953-4917, email: Investors may also obtain these documents at no cost by visiting the Securities and Exchange Commission’s website at . Before you invest, you should read the prospectus and other documents the Company has filed or will file with the Securities and Exchange Commission for more complete information about the Company and the offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Therapix Biosciences Ltd.

Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists, focused on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the company has initiated two internal drug development programs based on repurposing a U.S. Food and Drug Administration, or FDA, approved synthetic cannabinoid (dronabinol): Joint Pharma developing THX-TS01 targeted to the treatment of Tourette Syndrome, and BrainBright Pharma developing THX-ULD01 targeted to the high value and under-served market of mild cognitive impairments.

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Published by NCV Newswire
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