Therapix completes formulation development for tablet for sublingual administration of pharmaceutical use

The tablet is expected to be used in the context of a clinical trial for treatment of impairments in cognitive functioning (including mild cognitive impairment that could result in Alzheimer's disease), towards which Therapix is currently preparing.

In June 2016, the Company entered into a binding memorandum of understandings with Belvit, a Swiss drug development company, for the receipt of a worldwide and exclusive license to use a formulation for sublingual administration of ultralow dosages of THC (the active ingredient in cannabis), for the purpose of developing and marketing the formulation in the indications on which the Company has chosen to focus, with an emphasis on treatment of cognitive impairments.

According to scientific literature, sublingual administration of THC in the designated formulation, is superior and more efficient than oral administration.

Therapix's CEO Elran Haber says that Therapix continues to realize its business strategy in the research and development of cannabinoid-based drugs.

"The completion of the formulation phase is one of the Company's targets for 2016, and its achievement advances the Company towards the commencement of the first clinical trial, which is expected to begin in North America in the beginning of 2017."