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Therapix lays off staff due to insufficient funds

Therapix Biosciences Ltd. has terminated the employment of all of its staff except interim CEO Ascher Shmulewitz due to a lack of sufficient funds.

CFO Oz Adler and Chief Technologies Officer Adi Zuloff-Shani will remain in their positions until March 30, 2020, as part of their 90-day notice period.

Therapix's remaining directors and officers will continue to seek fundraising opportunities, including the Israel-based medical cannabis company's planned combination with Heavenly Rx Ltd.

In November 2019, Therapix and Destiny Bioscience Global Corp. mutually agreed to discontinue talks on a proposed merger between the two companies.