THERAPIX UPDATE TODAYTherapix Biosciences Provides Update Regarding FSD Acquisition TEL AVIV, Israel, Dec. 11, 2018 /PRNewswire/ -- Therapix Biosciences Ltd. ("Therapix" or the "Company") (Nasdaq: TRPX), a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments, is providing an update to shareholders regarding the previously announced binding letter of intent dated October 22, 2018 (the "LOI") with FSD Pharma Inc. ("FSD") (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) for the acquisition of the Company by FSD (the "Transaction"). It was agreed that the terms of the LOI are to be superseded by a definitive agreement, which the parties intended to execute within 30 days. The LOI by its terms lasted until November 19, 2018 but is automatically extended for additional one-week terms unless either party delivers a written notice of termination three (3) days prior to the expiration of the applicable term. The Company and FSD are still in negotiations and FSD wishes to modify certain material terms of the Transaction. The Transaction is still being negotiated. The Company cannot guarantee that those negotiations will result in entering into a definitive agreement or when or if the Company's board of directors would approve any proposal by FSD to modify the terms of the LOI. 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. Its 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 repurposing an FDA-approved cannabinoid (Dronabinol): THX-110 for the treatment of Tourette syndrome (TS), for the treatment of Obstructive Sleep Apnea (OSA), and the treatment of Pain; THX-130 for the treatment of Mild Cognitive Impairment (MCI) and Traumatic Brain Injury (TBI); THX-150 for the treatment of infectious diseases; and THX-160 for the treatment of pain. Please visit our website for more information at www.therapixbio.com.