Published On:
Mon, Aug 11th, 2014
Therapix jumps on cannabis pharmaceutical acquisition
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Lara Pharm is developing the active ingredient in cannabis to work in an inhaler.
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Therapix Biosciences Ltd. (TASE: TRPH) (formerly NasVax) share price jumped 16.85% today to $0.17 on news that it is to acquire medical cannabis developer Lara Pharm Ltd.
In the first stage Therapix invested $800, 000 for 26% of Lara Pharm. The company is now buying a further 49% for $1.5 million.
Lara Pharm is developing a formulation of THC, the active ingredient in cannabis, to work in an inhaler.
Published by Globes [online], Israel business news – www.globes-online.com – on August 11, 2014
Read more about: 2014, acquire, acquisition, developer, developing, Israel, Lara Pharm Ltd, pharmaceutical, THC, Therapix Biosciences Ltd, Therapix Biosciences Ltd. (TASE: TRPH) (formerly NasVax)