OXNARD, California and TEL AVIV, Israel, July 11, 2017 /PRNewswire/ -- CURE Pharmaceutical (CURR), ("CURE"), a leading disruptive drug delivery technology and pharmaceutical cannabinoid molecule development company and Therapix Biosciences (NASDAQ: Ltd. (TRPX), ("Therapix"), a specialty clinical-stage pharmaceutical company dedicated to the development of cannabinoid-based drugs headquartered in Israel, announced today that they signed a memorandum of understanding (MOU) to enter into a research collaboration with Israel's largest and leading private medical services center, Assuta Medical Centers, Ltd., ("Assuta"). The Companies will collaborate to advance, research, develop and commercialize potential therapeutic products in the fields of personalized medicine and cannabinoids.
"As CURE focuses on targeting unmet needs in traditional pharmaceutical markets that could be disrupted by cannabinoid-based options, we are continuously looking to help bring new therapeutic cannabinoid-based products to market and further efforts toward the creation of personalized medicine," said Robert Davidson, CEO of CURE Pharmaceutical. "Our new collaboration with Therapix and Assuta, two leading companies in Israel, a Country that is at the forefront of cannabinoid-based research in the world, is the perfect place to start the development of these products."
Dr. Ascher Shmulewitz, Chairman of Therapix, added, "CURE is the ideal partner for us to enter this promising and cutting-edge personalized cannabinoid-based therapeutics; this deal has all the signs of a fruitful venture."
As agreed to in the MOU, the Companies intend to formalize the pooling of professional, scientific, financial resources and expertise, in order to benefit from each of its respective advantages and capabilities to develop new therapeutic products in the fields of personalized medicine and cannabinoids. Specifically, CURE and Therapix will provide support and expertise in the development of pharmaceutical products, while Assuta will support the early research and development of potential projects through its research and facilities.
"Assuta is happy to enter into the MOU with CURE and Therapix, and I am confident that the parties' cooperation will be a successful one, with many other projects to follow," said Professor Ari Shamiss, CEO of Assuta. "This new collaboration is yet another step Assuta is taking in the innovation world, and one of many steps to be taken by Assuta in the field of biopharma."
About CURE Pharmaceutical
Headquartered in Oxnard, California, CURE Pharmaceutical (CURE) is a fully integrated specialty pharmaceutical/bioscience company that leverages disruptive proprietary drug delivery technologies for a broad range of molecules serving the biopharmaceutical, veterinarian, medical foods and pharmaceutical cannabis markets. CURE develops its patented and proprietary delivery system (CureFilm™), the most advanced oral thin film on the market today, from its industry leading full service cGMP manufacturing facility. The Company's mission is to deliver proven drugs in a fast and efficient manner and to improve quality of life.
For more information about CURE Pharmaceutical, please visit its website at www.curepharmaceutical.com.
About Therapix Biosciences Ltd.
Therapix Biosciences Ltd. (TRPX) is a specialty clinical-stage pharmaceutical company focused on developing technologies and therapeutics based on cannabinoid pharmaceuticals. The Company's clinical pipeline assets follow a de-risked 505(b)(2) regulatory pathway benefitting from Therapix's unique proprietary formulations based on repurposing an FDA approved synthetic cannabinoid (dronabinol). Therapix's lead compound, THX-TS01, is currently in Phase 2 clinical trials for Tourette's Syndrome and the Company intends to initiate a Phase 1 clinical study of THX-ULD01 for the treatment of Mild Cognitive Impairment, for which no FDA-approved therapies currently exist. Please visit our website for more information at www.therapixbio.com.
About Assuta Medical Centers
Assuta Medical Centers (https://www.assuta.co.il/en/) is the largest private hospital network in Israel operating 8 hospitals and medical centers from north to south. Owned by Maccabi Healthcare, the second largest HMO in Israel, Assuta accounts for about 15% of the surgeries in Israel and takes care of the health of more than 1 million patients yearly. Assuta holds JCI quality accreditation with excellence and its service standards are ranked as top tier by the ministry of health.
This press release contains forward-looking statements, which are subject to risks and uncertainties. All statements, other than statements of fact, including those statements with respect to the Company's business development, are forward-looking statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.
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