Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF), a pharmaceutical company focused on developing psilocybin-based compounds for diseases with unmet medical needs, has reported on corporate updates and filed its audited financial statements for the fiscal year ending August 31, 2021. The company achieved several significant development milestones this year including the formation of a collaboration with the Chronic Pain & Fatigue Research Center at the University of Michigan Medical School; that collaboration includes a Phase 2a clinical trial for fibromyalgia, which is expected to be one of the first phase 2 studies evaluating the efficacy of a psychedelic compound for the indication. In addition, the company has filed an investigational new drug (“IND”) application with the U.S. Food and Drug Administration for a phase 2a study in binge eating disorder in collaboration with the University of Florida. The company is also collaborating with Fluence to support the design and implementation of its innovative psychotherapy. Product highlights include the filing of a provisional patent for Tryp’s proprietary drug product, TRP-8803, and formalized partnerships with the University of Michigan and the University of Wisconsin-Madison to further the development of TRP-8803. TYRP is also collaborating with Calvert Labs to complete preclinical studies for TRP-8803 and started collaborations with Curia and Alcami for the manufacturing of active pharmaceutical ingredient (API) and drug products for TRP-8803. The company’s total assets as of Aug. 31, 2021, totaled C$4.1 million, including C$3.7 million in cash with net and comprehensive losses for fiscal year 2021 totaling C$8.3 million. “This has been a banner year for Tryp Therapeutics as we accelerated our drug development activities and led the extension of psychedelics into chronic pain and other indications,” said TRYP chair and CEO Greg McKee in the press release. “Despite the headwinds that the biotech capital markets have faced in 2021, we have great optimism as we continue to advance a robust slate of clinical milestones in 2022 and beyond.”
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About Tryp Therapeutics Inc.
Tryp Therapeutics is a pharmaceutical company focused on developing psilocybin-based compounds for the treatment of diseases with unmet medical needs through accelerated regulatory pathways. Tryp’s psilocybin-for-neuropsychiatric disorders, or PFN(TM) (“PFN”), program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of chronic pain and other indications. The company has announced upcoming phase 2a clinical trials with the University of Michigan and the University of Florida to evaluate its drug products for fibromyalgia and eating disorders, respectively. Tryp is also developing a proprietary psilocybin-based product, TRP-8803, that uses a novel formulation and method of delivery to improve the patient experience. For more information about the company, please visit www.TrypTherapeutics.com.
NOTE TO INVESTORS: The latest news and updates relating to TRYPF are available in the company’s newsroom at https://ibn.fm/TRYPF
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