- Pharmaceutical developer Tryp Therapeutics is targeting orphan disorders with novel medicinal solutions
- The company’s initial candidates seeking regulatory approval are a psilocybin compound for treating fibromyalgia, eating disorders and chronic pain conditions, as well as a tumor-inhibiting drug for treating soft tissue sarcomas
- Tryp has partnered with the University of Florida to conduct a Phase 2a clinical trial for eating disorders using Tryp’s psilocybin product
Following a year in which a global pandemic led to heightened concerns about individuals’ mental well-being while navigating the health emergency’s effects on society (https://ibn.fm/YGqDb), proponents of psychedelic medicine development programs gained stronger allies in legislative as well as commercial arenas (https://ibn.fm/sUosF).
Pharmaceutical developer Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF) is making its own inroads with using psychedelics for medicinal purposes, conducting clinical trials in preparation for planned monetization of its two drug platforms — the mushroom-based psychedelic compound, psilocybin, for treating fibromyalgia, eating disorders and chronic pain conditions, and the cancerous tumor-inhibiting drug razoxane for treating soft tissue sarcomas.
Tryp was founded in 2019 and recently released its Q2 interim financial results for the three and six month periods ended February 28, 2021, showing completion of the company’s initial public offering (“IPO”) that brought in more than $5 million through the aggregate issuance of more than 20 million units in December (https://ibn.fm/yHsVj).
During the reporting period, Tryp also added three leading experts to its Scientific Advisory Board and named a new CEO and a new CFO. The report also noted advancements with Tryp’s synthetic psilocybin manufacturing program and a new collaboration with the University of Florida on clinical trial activities for eating disorders.
A series of reports and studies indicate that the pandemic has likely fueled a rise in problems associated with eating disorders, including one finding that there has been a 70 percent rise in mental health support referrals for eating disorders among youth during the pandemic (https://ibn.fm/nI4Gb). Two new studies found a correlation between the COVID-19 pandemic and post-traumatic stress disorder (“PTSD”) symptoms among patients with eating disorders (https://ibn.fm/EEbEp).
Pediatric physician Jennifer Miller, M.D. of the University of Florida is serving as the principal investigator for a Phase 2a clinical trial for eating disorders using Tryp’s psilocybin product. Dr. Miller is a leading expert in certain eating disorders including binge eating and hyperphagia. The clinical trial that she is leading is expected to significantly advance Tryp’s work in evaluating the safety, pharmacokinetics and efficacy of TRP-8802, Tryp’s key product under its Psilocybin-for-Neuropsychiatric Disorders (PFN(TM)) program.
“There are currently no approved drugs and only limited options to treat patients with rare over-eating disorders,” Miller stated in a news release announcing the collaboration (https://ibn.fm/8jecT). “I’m excited to work with the Tryp team to explore the use of psilocybin as a new paradigm to treat symptoms associated with this devastating medical disease.”
In the end, Tryp’s aim is to develop clinical-stage compounds for diseases with high unmet medical needs through accelerated regulatory pathways. A provisional patent filed in March 2021 establishes the company’s IP for the formulation, delivery and dosing of psychedelics to produce a potential reduction in the time spent by patients in the dissociative state, and Tryp plans to submit additional provisional patents this year related to the manufacturing and formulating of psilocybin, among other innovations.
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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