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Tryp Debuts on the Canadian Securities Exchange

Ryan Allway

December 22nd, 2020

App, Exclusive, Psychedelics, Top Story

 

Tryp Therapeutics Inc. (CSE: TRYP) began trading on the Canadian Securities Exchange (CSE) on December 18, 2020 under the ticker symbol “TRYP”.

“Trading on the CSE is a significant milestone in Tryp’s mission to transform the treatment of neuropsychiatric diseases with safe and effective psychedelic medicine,” said CEO James Kuo, MD. “All of the drugs within our portfolio have well characterized safety profiles including our drug candidate for soft tissue sarcoma, which has been in multiple phase 2 clinical trials.” 

Click here to receive an investor presentation and connect with the company

Capital Infusion

Tryp Therapeutics’ successful initial public offering included a full exercise of over-allotment options for gross proceeds of just over $5 million. The company will use the capital infusion to support the development of its psilocybin-for-neuropsychiatric disorders, or PFN™, program, as well as TRP-1001, an oral formulation of Razoxane for the treatment of soft tissue sarcoma.

The PFN™ program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of certain neuropsychiatric-based disorders. The company’s lead drug candidate is TRP-8802 for the treatment of fibromyalgia, a chronic pain syndrome that affects an estimated five million people in the United States. 

TRP-1001 is a late state, Phase II asset with an orally delivered formulation of Razoxane for the treatment of soft tissue sarcomas. The rare and diverse group of tumors account for 1% of all adult cancers and 7% of cancers in children. Since soft tissue sarcomas are a rare disease in the United States, and the same cancer that Terry Fox suffered from, which has had very little breakthrough in therapy in over 40 years. The company hopes to secure Orphan Drug status from the FDA to accelerate clinical development.

Click here to receive an investor presentation and connect with the company 

Strong Management

Tryp Therapeutics has built a strong management team led by CEO Dr. James Kuo, MD, MBA, who has extensive biotech experience, having previously led the M&A and Licensing division at Pfizer. Jim has served as C-suite executive with two NASDAQ-listed companies, as well as currently acting as the Chairman of the Board at ImmunoPrecise Antibodies (TSX-V: IPA). 

Dr. Kuo is joined by President & Chief Science Officer Dr. James Gilligan, who has 35 years of experience in the life sciences industry. With experience in 505(b)(2) NDA drug development, he will be instrumental in advancing the company’s two drug development programs that have a similar regulatory strategy to come to market.

In addition to its management team, the company’s Scientific Advisory Board includes a preeminent group of experts in neuropsychiatry research and clinical care. The board members were chosen specifically to advise the company on its three investigational drug candidates and maximize the odds of approval. 

Looking Ahead 

Tryp Therapeutics’ successful initial public offering provides investors with another opportunity to participate in the nascent psychedelics industry. With a focus on synthetic psilocybin, the company aims to develop a range of treatments for neuropsychiatric disorders that it’s advancing through clinical trials.

For more information, visit the company’s website or download their investor presentation.

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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