Lara Pharm is developing the active ingredient in cannabis to work in an inhaler.
Therapix Biosciences Ltd. (TASE: TRPH) (formerly NasVax) share price jumped 16.85% today to NIS 0.62 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
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014
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