ZAG/Sullivan Represents Therapix Biosciences in $13.8 Million Initial Public Offering

Posted by Administrator on March 30, 2017 at 1:42 PM

Culminating a process that began last July, ZAG/Sullivan advised Therapix Biosciences Ltd. (NASDAQ: TRPX, TASE: THXBY) on its initial public offering of American Depositary Shares in the United States, which debuted on Nasdaq last week (and is still trading well above its initial price).

Image result for therapix

Therapix is a specialty clinical-stage pharmaceutical company focused on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals.  The company has initiated two internal drug development programs based on repurposing an FDA-approved synthetic cannabinoid (dronabinol): Joint Pharma developing THX-TS01 targeted to the treatment of Tourette Syndrome, and BrainBright Pharma developing THX-ULD01 targeted to the treatment of mild cognitive impairments. 

Therapix raised a total of $13.8 million (including full exercise of the underwriters’ overallotment option), which it plans to use to advance the formulation and clinical development efforts for its two lead product candidates, including Phase II clinical trials, and for working capital and other general corporate purposes. Laidlaw & Company (UK) Ltd. acted as sole book running manager for the offering.

The ZAG/Sullivan team consisted of attorneys from Boston, New York and Tel Aviv, including Howard Berkenblit and Oded Har-Even, as well as Shy Baranov, Rob Condon, Ron Ben-Bassat, Boaz Shiffman and Hila Nahum.

Topics: NASDAQ, IPO, pharmaceuticals

ZAG/Sullivan Advises on Cellect Biotechnology U.S. IPO

Posted by Administrator on August 4, 2016 at 3:06 PM

Cellect Biotechnology IPO

A ZAG/Sullivan Team represented Cellect Biotechnology Ltd. (NASDAQ:APOP) (NASDAQ:APOPW) (TASE:CLBD), a developer of innovative technology that enables the functional selection of stem cells, in its initial public offering in the United States of 1,292,308 American Depository Shares (ADSs) and warrants to purchase up to 969,231 ADSs. 

The gross proceeds to Cellect from this offering are $8.4 million. Cellect’s ADSs and warrants began trading on the NASDAQ Capital Market on July 29, 2016, under the symbols “APOP” and “APOPW”, respectively.

Cellect plans to use the net proceeds from the offering to fund its ongoing development plan, including its Phase I/II single arm, open label clinical trial and for working capital and other general corporate purposes.

The ZAG/Sullivan Team included Oded Har-Even, Howard Berkenblit, Shy BaranovRon Ben-Bassat and Noa Weyl

Rodman & Renshaw, a unit of H.C. Wainwright & Co., acted as the sole book runner and Joseph Gunnar & Co., LLC acted as co-manager for the offering.

ZAG/Sullivan is the world's only true Israeli-American law firm committed to the success of Israeli and U.S. companies seeking to do business between each other's countries. Founded in 2001 through a unique joint venture of its founding firms, Zysman, Aharoni, Gayer & Co. (ZAG) and Sullivan & Worcester LLP (Sullivan), ZAG/Sullivan is a law firm partnership—one entity—not a referral relationship. Our innovative business model enables us to provide completely integrated, cost-efficient legal services, leveraging our experience on both sides of the Atlantic to help advance your objectives with maximum efficiency—whether it's forming a joint venture or listing your company on NASDAQ. But we do more than just provide legal services; we build business bridges for our clients, connecting them with the right players and the right resources to gain a competitive edge.

Topics: NASDAQ, American Depositary Shares, IPO

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