- Psychedelics date back to ancient times, with records showing their use among the Aztecs as well as cultures in North Africa and Europe for medicinal and cultural purposes
- The prohibition era marked significant strides in psychedelics research, including the ultimate prohibition of the possession, sale and manufacture of psychedelics
- The 21st century has seen a surge in psychedelics research, a critical factor that has initiated a renaissance in this industry
- Tryp Therapeutics remains at the forefront of this renaissance with its commitment to identifying and developing clinical-stage compounds for diseases with high unmet medical needs, like Fibromyalgia and Eating Disorder
Since its inception, Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF) has remained committed to identifying and developing clinical-stage compounds for diseases with high unmet medical needs. It seeks to achieve this through accelerated regulatory pathways, and its main program, Psilocybin-For-Neuropsychiatric Disorders (PFN(TM)) program, is a testament to that.
With PFN, Tryp focuses on developing psilocybin-based drug therapies for the treatment of specific neuropsychiatric disorders. So far, psilocybin has shown various advantages over mainstream alternatives already in the market. These benefits include natural blood-brain barrier penetration, increased efficacy, enhanced safety and toxicity profiles and reduced risk of abuse and addiction (https://ibn.fm/JUoAz).
Given what Tryp has achieved so far, it is easy to see the potential that psychedelics hold in the treatment of psychological ailments along with other medical conditions with high unmet needs. Additionally, it is easy for one to appreciate the strides that have been taken and the role that companies such as Tryp are making to demystify the usage of these substances for medical purposes.
Historically, psilocybin has been used in many specific cultures, not just for medicinal purposes but also to reach an altered state of consciousness. There is evidence of the Aztecs consuming mushrooms and even individuals in the Americas using psychedelics in specific ceremonies. In North Africa and Europe, cave paintings that date back to 4000 BC show psilocybin, thus proving the usage of these substances in particular rituals and medicinal purposes (https://ibn.fm/3zyUF).
Fast forward to the prohibition era, which saw great strides in psychedelics research and stringent measures from governments and the United Nations that would, ultimately, see a ban on the possession, sale, and manufacture of psychedelics. The late 19th and early 20th centuries saw Arthur Heffter isolate mescaline from the peyote cactus and Albert Hofmann synthesizing LSD, among other huge milestones. However, the late 20th century saw the UN declaring LSD, DMT, and MDMA as controlled substances.
In the 21st century, the scientific community has proven the potential of psychedelics to rewire or repair circuits in the brain. In 2020, research conducted by scientists in Spain showed that DMT could stimulate the production of new brain cells. That same year, Santa Cruz decriminalized psychedelic substances, including peyote, ayahuasca, and psilocybin (https://ibn.fm/Nk3ta).
Currently, Tryp continues to contribute to the ongoing conversation regarding the use of psychedelics in the field of medicine. Additionally, bringing light to psilocybin usage in chronic pain indications. With its three strategic initiatives- develop, protect and monetize- Tryp remains committed to utilizing FDA’s 505(b)(2) regulatory pathway with available third-party preclinical data to not only shorten the approval timelines but also lower the cost of development programs (https://ibn.fm/6I1oK). This is in a bid to bring psychedelic treatments closer to the people. It also seeks to grow an industry that has been dormant for decades for all the wrong reasons.
The psychedelic medical market is still in its early days. There is still a lot that needs to be done. However, one thing that remains true is the industry’s vast potential to transform healthcare. It is projected that by 2027, the medicinal psychedelics market will be valued at $6.8 billion, up from $2 billion in 2019. Experts have even noted that it could eventually become a $100 billion market. Tryp Therapeutics is capitalizing on this potential and leading the accompanying transformation. By doing so, Tryp is stamping its position as a leader in the ongoing psychedelic renaissance.
For more information, visit the company’s website at 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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