Cure Pharmaceutical plans to acquire Cannabinoid-based drug pipeline from Therapix Biosciences

|By:, SA News Editor

CURE Pharmaceutical (OTCQB:CURR -5%announced that it has signed a term sheet with Therapix Biosciences (TRPX -0.3%) to acquire the non-pain assets of Therapix.

Acquired assets include several clinical drug candidates as well as two pre-clinical drug candidates.

CURE will issue shares of its common stock to Therapix in exchange for the assets, and Therapix will as a result become a significant shareholder in CURE.

CURE will be raising additional financing as one of the conditions of the acquisition, some of which will be provided by Therapix.

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