Therapix Biosciences Ltd. (Nasdaq: TRPX), a specialty clinical-stage pharmaceutical company specializing in the development of cannabinoid-based treatments, executed a non-exclusive material transfer agreement with Yissum, the technology transfer company of The Hebrew University of Jerusalem, for two synthetic cannabinoids synthesized by Raphael Mechoulam, Ph.D., Professor of medicinal chemistry at the university and Chairman of the Therapix Scientific Advisory Board.
Medical cannabis has the potential to improve the daily lives of millions of people throughout the world. For that reason alone, the biotech sector will be one of the greatest beneficiaries of the legal cannabis movement.
Medical cannabis has the ability to treat countless debilitating and untreatable conditions and this has pharmaceutical companies scared. We expect to see several acquisitions within this space over the next year and have already identified several candidates.
Although Israel is known for its advanced weaponry and military defense systems, the country is also a leader in scientific research focused on cannabis. Scientists in Israel have been researching the benefits associated with cannabis for the last 50 years and the country’s pro-cannabis standpoint has made it attractive to pharmaceutical and biotech companies.