Full Press Release Details
Therapix Biosciences Ltd. Announces
Closing of U.S. Initial Public Offering of American Depositary Shares
2,000,000 American Depository Shares Priced
Tel-Aviv, Israel, March 27, 2017 - Therapix
Biosciences Ltd. (NASDAQ: TRPX, TASE: THXBY), a specialty clinical-stage pharmaceutical company specializing
in the development of cannabinoid-based drugs, today announced the closing of its public offering in the United States of 2,000,000
American Depository Shares (ADSs), each ADS representing 40 ordinary shares of the Company, at a price of $6.00 per ADS. In addition,
Therapix has granted the underwriters a 45-day over-allotment option to purchase up to 300,000 additional ADSs at the public offering
price. The gross proceeds to Therapix from this offering were $12,000,000, prior to deducting underwriting discounts and offering
Therapix plans to use the net proceeds from
this 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 traded on the NASDAQ
Capital Market under the symbol TRPX.
Laidlaw & Company (UK) Ltd. is acting as
sole book running manager for the offering.
The final prospectus relating to this offering
was filed with the Securities and Exchange Commission (SEC) on March 22, 2017. The offering was 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: syndicate@laidlawltd.com. Investors may also obtain these documents at
no cost by visiting the SEC's website at http://www.sec.gov. Before you invest, you should read the prospectus and other
documents the Company has filed or will file with the SEC for more complete information about the Company and the offering.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of
any such 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.
Forward-Looking Statements
This press release contains forward-looking
statements about the Company's expectations, beliefs and intentions. Forward-looking statements can be identified by the
use of forward-looking words such as "believe", "expect", "intend", "plan", "may",
"should", "could", "might", "seek", "target", "will", "project",
"forecast", "continue" or "anticipate" or their negatives or variations of these words or other
comparable words or by the fact that these statements do not relate strictly to historical matters. For example, forward-looking
statements are used in this press release when we discuss the use of proceeds, the description of our technology and its proposed
uses. These forward-looking statements involve certain risks and uncertainties, including, among others, risks impacting the ability
of the Company to complete any public offering of its securities because of general market conditions or other factors and risks
that could cause the Company's results to differ materially from those expected by Company management or otherwise described
in or implied by the statements in this press release. Any forward-looking statement in this press release speaks only as of the
date of this press release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether
as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors"
in Therapix Biosciences Ltd.'s prospectus filed with the SEC on March 22, 2017, which is available on the SEC's website,
Goldfinger communication, Irit Radia, irit@goldfingercom.com,