SciSparc Ltd 6-K, filed Apr 22, 2020
SciSparc Ltd. (SPRC)
About this 6-K
SciSparc Ltd filed this 6-K on April 22, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of: April 2020
Commission file number: 001-38041
THERAPIX BIOSCIENCES LTD.
(Translation of registrant’s name into English)
4 Ariel Sharon Street
HaShahar Tower, 16th Floor
Givatayim 5320047, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(1):_____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(7):_____
CONTENTS
This Report of Foreign Private Issuer on Form 6-K consists of the Registrant’s press release issued on April 22, 2020, titled “Therapix Biosciences Announces Appointment of New CEO,” which is attached hereto as Exhibit 99.1, and the Registrant’s corporate presentation which was posted on its website, which is attached hereto as Exhibit 99.2.
The first two paragraphs and the section titled “Forward-Looking Statements,” in the press release attached as Exhibit 99.1 are incorporated by reference into the registration statements on Form F-3 (File No. 333-225745 and File No. 333-233417) and on Form S-8 (File No. 333-225773) of the Registrant, filed with the Securities and Exchange Commission, to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Therapix Biosciences Ltd. | ||
|---|---|---|
| Date: April 22, 2020 | ||
| By: | /s/ Oz Adler | |
| Name: Oz Adler<br><br>Title: Chief Financial Officer |
2
Exhibit 99.1
Therapix Biosciences Announces Appointmentof New CEO
Mr. Gilad Bar-Lev appointed CEO effective as of May 6, 2020
TEL AVIV, Israel, April 22, 2020 /PRNewswire/ — Therapix Biosciences Ltd. (Nasdaq: TRPX) (the “Company”), a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments, announced today the appointment of Mr. Gilad Bar-Lev as CEO of the Company, effective as of May 6, 2020. Mr. Bar-Lev will replace Dr. Ascher Shmulewitz at his position as the interim CEO of the Company. Dr. Shmulewitz will continue to serve as the Chairman of the Company’s Board of Directors.
Mr. Gilad Bar-Lev currently serves as a director of the Company. Mr. Bar-Lev is an active investor with vast experience in publicly traded securities, leveraged buyouts and venture capital. During his career, Mr. Bar-Lev has held various leadership positions, including as CEO of Carnie Capital, an Israeli family office, and as Executive Vice President of Hadas Arazim Group, the parent company of the Israeli investment house Hadas Arazim. Mr. Bar-Lev is trained as a security analyst and began his career working for financial institutions in both the United States and Israel.
“After a long and rigorous search for the right CEO, I am delighted to have Mr. Bar-Lev lead the company. I have great confidence with Gilad and I am sure he has the capability to lead the company on a new and successful path,” said Dr. Shmulewitz.
“As a member of the Therapix Board of Directors, I learned about the Company’s strengths and what its people are capable of achieving,” Mr. Bar-Lev said. “I’m excited about the potential embedded in Therapix and certain that my 15 years of experience in finance together with the vast experience of Therapix’s Chairman Dr. Shmulewitz as an entrepreneur and scientist along with the skillful and experienced management team, will strengthen Therapix’s ability to bring value to all stakeholders. I am confident in what we can accomplish together.”
Mr. Bar-Lev holds a bachelor’s of arts degree in Economics and Finance from Saint Francis College, NY.
About Therapix Biosciences (Nasdaq: TRPX):
Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. Our focus is creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the company is currently engaged in the following drug development programs based on tetrahydrocannabinol (THC) and/or non-psychoactive cannabidiol (CBD): THX-110 for the treatment of Tourette syndrome and for the treatment of obstructive sleep apnea; THX-160 for the treatment of pain; and THX-210 for the treatment of autism spectrum disorder and epilepsy. Please visit our website for more information at www.therapixbio.com, the content of which is not a part of this press release.
Forward Looking Statements:
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements when it discusses the Company’s potential and its ability to deliver value to stakeholders. Because such statements deal with future events and are based on the Company’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of the Company could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” the Company’s Annual Report on Form 20-F filed with the SEC on May 15, 2019, and in subsequent filings with the U.S. Securities and Exchange Commission. Except as otherwise required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.
**Investor Contact:**IR@therapixbio.com
Tel: +972-3-6167055
info@therapixbio.com
Exhibit 99.2
THE CANNABINOIDS OF THE FUTURE
' ISCLAIMER This presentation of Therapix Biosciences Ltd. ( the “Company”) contains “forward - looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects, ” “anticipates, ” “intends, ” “plans, ” “believes, ” “seeks, ” “estimates” and similar expressions or variations of such words are intended to identify forward - looking statements. For example, the Company is using forward - looking statements when it discusses statements relating to our objectives, plans, and strategies, the expected timing of trials, the research, development, and use of our platform technologies, technologies, products and product candidates, and all statements ( other than statements of historical facts) that address activities, events, or developments that the Company intends, expects, projects, believes, or anticipates will or may occur in the future. Forward - looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved and actual results may differ materially from what is expressed in or indicated by the forward - looking statements. Forward - looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward - looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission ( “SEC”), including, but not limited to, the risks detailed in the Company’s annual report for the year ended December 31 , 2018 , and the Company’s Registration Statement on Form F - 1 ( File No. 333 - 236175 ) filed with the SEC. Forward - looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward - looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward - looking information except to the extent required by applicable securities laws. If the Company does update one or more forward - looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward - looking statements.
OUR VISION To bridge Cannabis and cannabinoids to the healthcare system to improve the health and well - being of patients
To develop the most efficacious and safe endocannabinoid - based solutions for unmet demand for treating Inflammation and CNS Diseases OUR MISSION
OUR STRATEGY To augment, elevate and leverage our core assets
In recent years TRPX has invested millions of dollars in research and development of cannabinoid based products for the treatment of several indications, with a large unmet need, including: Tourette - Syndrome, Autism Spectrum Disorder (ASD), Obstructive Sleep Apnea, pain and anti - infection & inflammation Strategy Highlights Encouraging results were demonstrated in pre - clinical and clinical POCs studies conducted for these indications. Based on these results we are expected to initiate clinical trials with the first indication being ASD. Regulatory approval , if obtained, will also allow a reimbursement policy for patients and payers. We believe our core assets are in a prime position to be monetized and we plan to work closely with prospective investors, as well as and potential strategic partners, to ensure a swift development of our portfolio.
Cannabinoid Entourage Platform Micro Dosing Proprietary formulations New chemical entities (NCE's ) Proprietary Assets 9 Patents Families
The endogenous cannabinoid system is involved in essentially every disease that has been investigated Professor Raphael Mechoulam • Scientific research since the 1960 ’s shows that the key to unlocking many medical conditions and chronic diseases lies in the Endocannabinoid System ( eCB ) • Endocannabinoids are substances produced from within the body that act via cannabinoid receptors • Therapix Biosciences utilizes proprietary combinations of cannabinoids to develop pharmaceutical and therapeutic products to modulate eCB • Under the Entourage Platform, we have developed THX - 110 THX - 210 and THX - 160 , proven in pre - clinical and clinical studies Cannabinoid
Dosage regiment compromises therapeutic benefits of cannabis and severely impacts treatment DOSE MATTERS x Serious diminishing effect over time and extensive use x High doses lead to unwanted adverse events x Compromises therapeutic benefits of cannabis and severely impacts treatment REDUCING MEDICAL CANNABIS AND CANNABINOIDS DOSES WHILE MAINTAINING ITS THERAPEUTIC EFFICACY AND INCREASING THE SAFETY PROFILE IS AN IDEAL SOLUTION EMBRACED BY PHYSICIANS, PAYERS AND PATIENTS
The Entourage Therapeutic Potential Harnessing the therapeutic potential of cannabinoids by improving efficacy and minimizing psychological side effects
11 Business Plan THX Platform: The Entourage Effect Platform Therapix’ proprietary combination of Cannabinoids and CannAmide™ (“Entourage Effect”), is intended for the increased efficiency, lowering the dosage and side effects IP CannAmide™ 400 mg Production GMP production of the APIs: Rigorously controlled manufacturing, adhering to the highest regulatory standards 01 02 03 04 A set of Patents cover the combination of PEA with various cannabinoids “Know - how” protected formulation of CannAmide™ for improved bioavailability. Registered in Canada Pending registration in the EU and Israel
COMPOUND THX – 110 THERAPEUTIC AREA PRECLINICAL Medical Cannabis route PHASE IIa PHASE IIb TOURETTE’S SYNDROME OBSTRUCTIVE SLEEP APNEA THX – 110 THX – 210 Autism THX – 160 Pain THX - 110 – Full Cannabis Extract (FCE) with CannAmide TM for the treatment Tourette’s Syndrome and Obstructive Sleep Apnea THX - 210 – Cannabidiol (CBD) with CannAmide TM for the treatment of Autism THX - 160 – Proprietary specific CB 2 R agonist for the treatment of Pain Pipeline CannAmide Commercial
Leadership & Scientific Advisory Board 21
DR. ASCHER SHMULEWITZ, MD PHD, CHAIRMAN An inventor, investor and serial entrepreneur in biomedical technologies, he has founded and invested in over two dozen life science companies including NeoVision Corp, Labcoat Medical Ltd. Arteria Corp, Circulation Inc. and X - Cardia Inc., and has led multiple of these companies to successful exits, including through merger and acquisition transactions with large medical device companies. Dr. Shmulewitz has served as our Chairman since January 2014 and on our Board of Directors since February 2013 and was appointed our Interim Chief Executive Officer on November 1 , 2017 . ADI ZULOFF - SHANI, PhD, CTO Dr. Adi Zuloff - Shani has served as our Chief Technologies Officer since February 2016 . Dr. Zuloff - Shani has more than 15 years of experience as an R&D executive. Prior to joining us, and from 2012 to 2016 , Dr. Zuloff - Shani served as a vice president development at Macrocure Ltd. (NASDAQ: “MCUR”) where besides leading all research and development activities, she interacted and was involved with the activities of all departments including clinical, operations, quality assurance, quality co ntrol, finance, and regulatory affairs. Dr. Zuloff - Shani holds a Ph.D. in human biology and immunology from Bar - Ilan University, Israel. OZ ADLER, CFO Mr. Oz Adler has served as our Chief Financial Officer since April 2018 , and as our VP Finance from September 2017 . Mr. Adler has experience in a wide variety of managerial, financial, tax and accounting. Since 2012 , Mr. Adler was employed as a certified public accountant at Kost Forer Gabbay & Kasierer , a member of Ernst & Young Global. Mr. Adler holds a B.A. degree in Accounting and Business management from the College of Management, Israel. Therapix Leadership Gilad Bar - Lev, CEO . 2012 - 2016 - managing partner - ITCI SPRTN Ltd - a self - owned company specializing in developing and executing investment strategies in publicly traded securities. 2009 - 2012 - CEO - Carnie Capital Ltd. - a private global investment fund. Served as a board member in several subsidiaries and affiliates. 2008 - 2009 - Executive Director - Hadas Arazim Group - a holding company controlling Hadas Arazim Investment House, an Israeli asset management company overseeing assets of about 4 billion NIS. Served as a board member and member of the investment committee. 2005 - 2008 - Security Analyst - Israel Discount Bank, securities division. BA in Economics & Finance, Saint Francis College, Brooklyn Heights, NY.
Therapix Biosciences Scientific Advisory Board Award winning, active scientists CNS Endocannabinoids and PEA PAIN Dr. Michael Bloch Prof. James Leckman Prof. Raphael Mechoulam Prof. Avi Weizman Prof. Kirsten Muller - Vahl Prof. Michael Davidson Prof. Elon Eisenberg Dr. Daniele Piomelli Prof. Saoirse. O'Sullivan Dr. Joseph Tam Prof. Davis Mellar