Oxnard, CA – July xx, 2018 – CURE Pharmaceutical (OTCQB: CURR), (“CURE”), an innovative drug delivery and development company, announced today that it has signed a term sheet with Therapix Biosciences Ltd. (Nasdaq: TRPX), (“Therapix”), a specialty, clinical-stage pharmaceutical company developing cannabinoid-based treatments, to acquire the non-pain assets of Therapix, subject to the completion of the related conditions. These assets include several clinical drug candidates as well as two pre-clinical drug candidates.
CURE will issue shares of its common stock to Therapix in exchange for the assets, and Therapix will as a result become a significant shareholder in CURE. Therapix CEO and Chairman, Ascher Schmulewitz, MD PhD, will be appointed to CURE’s Board of Directors. CURE will be raising additional financing as one of the conditions of the acquisition, some of which will be provided by Therapix.
“The proposed acquisition has the potential to build on our existing relationship with Therapix and create unique value by combining Therapix’ promising clinical programs with CURE’s proprietary drug delivery technology and manufacturing capabilities,” said Rob Davidson, CEO and Chairman of CURE Pharmaceutical. “Furthermore, this transaction is a further step in CURE’s efforts toward up-listing to the NASDAQ.”
Therapix is developing a cannabinoid-based pipeline with drug development programs using dronabinol, a synthetic cannabinoid already approved by the FDA alone and as drug combinations. The sale of these assets will allow Therapix to focus on its pain programs.
“Integrating these clinical and preclinical assets within CURE’s operational infrastructure will lead to differentiated therapies and execution efficiencies,” said Dr. Shmulewitz,“Our clinical programs are already showing positive results and we believe this is an important step in accelerating our progress toward helping patients in need.”
About CURE Pharmaceutical
CURE Pharmaceutical is a vertically integrated drug delivery and development company committed to improving drug efficacy, safety and the patient experience through its proprietary drug dosage forms and delivery systems. CURE has a full-service cGMP manufacturing facility and is a pioneering developer and manufacturer of a patented and proprietary delivery system (CUREfilm™), one of the most advanced oral thin films on the market today. CURE is developing an array of products in cutting-edge delivery platforms and partners with biotech and pharmaceutical companies. CURE has positioned itself to advance numerous therapeutic categories, including the pharmaceutical cannabis sector with partnerships in the U.S., Canada, Israel and Germany, among other markets. The company’s mission is to improve people’s lives by redefining how medicines are delivered and experienced.
For more information about CURE Pharmaceutical, please visit its website at www.curepharmaceutical.com.
About Therapix Biosciences:
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 is currently engaged in two internal drug development programs based on repurposing an FDA approved synthetic cannabinoid (dronabinol): THX-110 targets the treatment of the symptoms of Tourette Syndrome; and THX-130 targets the high-value and under-served market of mild cognitive impairments and Traumatic Brain Injury (TBI). Please visit our website for more information at www.therapixbio.com.
This press release contains forward-looking statements that involve risks and uncertainties. There are important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the ability to successfully market our products, the difficulty in predicting the timing or outcome of other product research and development efforts, potential product characteristics and indications, marketing approvals and launches of other products, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing, the acceptance and demand of new pharmaceutical products, the impact of patents and other proprietary rights held by competitors and other third parties and the ability to obtain financing on favorable terms. The forward-looking statements in this press release reflect the Company’s judgment as of the date of this press release. The Company disclaims any intent or obligation to update these forward-looking statements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of our securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. On February 28, 2017, and ending on August 28, 2020, Liviakis Financial Communications, Inc. (LFC) was retained by CURE Pharmaceutical Holding Corp. (CURR) in various consulting capacities including strategic management planning, investor relations and other business development responsibilities. LFC was compensated 1,000,000 restricted common stock under rule 144. Officers and employees of LFC will buy or sell shares in CURE Pharmaceutical Holding Corp. prior, during or after this release. LFC advises CURE Pharmaceutical Holding Corp. but does not provide investment advice. LFC is not a registered investment advisor or broker-dealer. All material provided regarding CURE Pharmaceuticals Holding Corp. including, but not limited to its history, corporate status, and other developments was prepared using information approved and signed off by CURE Pharmaceutical Holding Corp. management as approved for public dissemination. Although the information contained herein is believed to be reliable, LFC makes no warranties as to the accuracy of the description of any of the content herein and accepts no liability for how readers may choose to utilize it.