Therapix Biosciences Terminates FSD Acquisition Letter of Intent

Therapix Biosciences, a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments, announced the company has delivered notice of termination to FSD Pharma (FSD) under the previously announced binding letter of intent dated October 22, 2018 (LOI) for the acquisition of the company by FSD.

FSD proposed to modify material terms of the Transaction established by the LOI. The board of directors of the company does not believe it will come to agreement on revised terms. Therefore, the Board has determined that it is in the best interests of the company to terminate the LOI. Pursuant to the notice provisions of the LOI and the company's notice of termination, the LOI will terminate December 26, 2018.

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