Therapix Biosciences Announces Pricing of $4.2 Million Offering

Biosciences Announces Pricing of $4.2 Million Offering

AVIV, Israel, Nov. 19, 2020 /PRNewswire/ -- Therapix Biosciences Ltd. ("Therapix" or the "Company")

(OTC Pink: TRPXY), a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments,

today announced the pricing of an offering for the issuance of an aggregate of 835,447 units, each consisting of (i) one American

Depositary Share ("ADS") and (ii) two warrants to purchase one ADS each, at a purchase price of $5.02 per

unit. The warrants will have an exercise price of $5.02 per ADS, will be exercisable upon issuance and will expire five

years from the date of issuance.

offering is expected to result in gross proceeds to Therapix of approximately $4,200,000. The Company intends to use the

net proceeds of the offering for partial repayment of the $1,500,000 deposit, pursuant to a settlement agreement dated August

13, 2020, repayment of amounts drawn under the certain credit agreement, dated September 8, 2020, by and among the Company

and M.R.M. Merchavit Holdings and Management Ltd., as well as for working capital, general corporate purposes and pursuing strategic

opportunities including business combination transactions.

closing of the sale of the units is expected to take place on November 23, 2020, subject to satisfying customary closing

Capital Corp. is acting as the sole agent for the offering on a "best efforts" basis.

offering is being made pursuant to a registration statement on Form F-1, as amended (No. 333-248670) (the "Registration Statement")

previously filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective by the SEC on November

18, 2020. A final prospectus (the "Prospectus") describing the terms of the offering will be filed with the SEC and

will be available on the SEC's website located at http://www.sec.gov.

copies of the Prospectus, when available, may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department,

810 7th Avenue, 18th floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010.

press release shall not constitute an offer to sell or the 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 registration or qualification

under the securities laws of any such state or jurisdiction.

Therapix Biosciences (OTC Pink: TRPXY):

Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists.

Our focus is creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus,

the Company is currently engaged in the following drug development programs based on tetrahydrocannabinol (THC) and/or non-psychoactive

cannabidiol (CBD): THX-110 for the treatment of Tourette syndrome and for the treatment of obstructive sleep apnea; THX-160 for

the treatment of pain; and THX-210 for the treatment of autism spectrum disorder and epilepsy. Please visit our website for more

information at www.therapixbio.com, the content of which is not a part of this press release.

press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private

Securities Litigation Reform Act of 1995 and other Federal securities laws. Forward-looking statements in this press release include

statements regarding the proposed offering, the successful closing of the offering and planned use of the net proceeds from the

offering. Because such statements deal with future events and are based on Therapix's current expectations, they are subject to

various risks and uncertainties, including the satisfaction of closing conditions, and actual results, performance or achievements

of Therapix could differ materially from those described in or implied by the statements in this press release. The forward-looking

statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed

under the heading "Risk Factors" in Therapix's Registration Statement, the Prospectus, its Annual Report on Form 20-F

for the year ended December 31, 2019, and other risks detailed in its periodic report filings. Except as otherwise required

by law, Therapix disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as

of the date they were made, whether as a result of new information, future events or circumstances or otherwise.