Therapix Biosciences (NSDQ:TRPX) said today that it inked a sublicense agreement for nasal drug delivery tech from Yissum Research Development Company at the Hebrew University.
According to the deal, Yissum plans to give Therapix an exclusive, global, sub-licensable, royalty-bearing license for its nasal delivery tech to be used with cannabinoids.
The technology was developed by Elka Touitou at the Hebrew University of Jerusalem’s Institute of Drug Research. The nasal delivery tech facilitates the administration of tetrahydrocannabinol, the active ingredient in Therapix’s drug candidates, and aids effective nasal absorption.
“This agreement with Yissum paves the way for the development and marketing of new cannabinoid-based treatment offerings for people suffering from a variety of neurological conditions,” Therapix CEO Elran Haber said in prepared remarks. “Compared with standard oral administration, we expect the nasal delivery technology developed by Professor Touitou and her team at Hebrew University to offer improved bioavailability, efficacy, and a shorter reaction time for patients.”
Therapix said that it plans to advance the company’s strategy to develop cannabinoid delivery technologies for THC, in the hopes of treating neurological diseases like Tourette’s syndrome.
The Israel-based company has 2 ongoing clinical programs involving an FDA-approved synthetic cannabinoid, dronabinol.
TRPX shares were trading at $7.91 today in mid-morning activity, up 4.4%.