Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF), a clinical-stage biotechnology company focused on developing intravenous-infused psilocin (the active metabolite of psilocybin) for diseases with high unmet medical needs, today announced that shareholders of Exopharm Limited ACN 163 765 991 approved a previously announced plan of arrangement between Exopharm Limited and Tryp (the “parties”). The announcement confirmed that all conditions precedent to the completion of the arrangement had been satisfied or waived (except the conditional approval of the Australian Securities Exchange (“ASX”), which is expected to be received on April 30, 2024). According to the announcement, the parties anticipate that the arrangement will be completed on or about May 1, 2024, with the combined company’s shares commencing trading on the ASX under the name “Tryptamine Therapeutics Limited” and the ticker symbol TYP on or about May 15, 2024. Tryp also announced it has voluntarily requested the Canadian Securities Exchange (“CSE”) and the OTCQB Venture Market (“OTCQB”) to halt trading in its common shares effective April 29, 2024. According to the announcement, Tryp’s shares are expected to be delisted from the CSE and to cease trading on the OTCQB once the arrangement has been completed.
To view the full press release, visit https://ibn.fm/5WwUD
About Tryp Therapeutics Inc.
Tryp Therapeutics is a clinical-stage biotechnology company focused on developing proprietary, novel formulations for the administration of psilocin in combination with psychotherapy to treat diseases with unmet medical needs. Tryp’s lead program, TRP-8803, is a proprietary formulation of IV-infused psilocin (the active metabolite of psilocybin) that alleviates numerous shortcomings of oral psilocybin including: significantly reducing the time to onset of the psychedelic state, controlling the depth and duration of the psychedelic experience, and reducing the overall duration of the intervention to a commercially feasible timeframe. The company has completed a phase 2a clinical trial for the treatment of binge eating disorder at the University of Florida, which demonstrated an average reduction in binge eating episodes of greater than 80%. The company has also started a phase 2a clinical trial with the University of Michigan for the treatment of fibromyalgia and is preparing to initiate a phase 2a clinical trial (IND has been cleared to proceed) with Massachusetts General Hospital for the treatment of abdominal pain and visceral tenderness in patients suffering from IBS. Each of the studies are utilizing TRP-8802 (synthetic, oral psilocybin) to demonstrate clinical benefit in these indications. Where a positive clinical response has been demonstrated, subsequent studies are expected to utilize TRP-8803 (IV-infused psilocin), which has the potential to further improve efficacy, safety and 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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