BRIEF—Therapix and Destiny nix merger plan

Therapix Biosciences, an Israeli specialty, clinical-stage pharma company focusing on the development of cannabinoid-based treatments, and Canada-based Destiny Biosciences Global yesterday announced their mutual decision to discontinue negotiations on the previously -announced proposed merger.

On July 23, 2019, Therapix announced the signing of a Letter of Intent for a proposed merger with Destiny, having just terminated a proposed merger plan with FSD Pharma.

"Having discontinued our negotiations with Destiny, Therapix is considering other options to achieve the benefits of a merger, which includes exploring other strategic offers we've received and continuing to develop our unique technologies," said Dr Ascher Shmulewitz, Therapix' chairman and interim chief executive.

"We are encouraged by the interest of third parties during these negotiations in the company's technology, which has been validated in scientific studies as we continue to uncover unique solutions, including a study for a new CBD drug candidate THX-210, intended for the treatment of epilepsy as well as inflammatory conditions."