Tryp Therapeutics: Monetizing Its PFN™ Program
Ryan Allway
March 16th, 2021
Psychedelics, Top News
There are a growing number of publicly traded psychedelics companies for investors to consider for their portfolios but few have been making tangible progress toward the development and commercialization of game-changing therapies.
Tryp Therapeutics Inc. (CSE: TRYP) is keenly focused on developing compounds with known safety profiles for the treatment of rare diseases and other diseases with high unmet medical needs. Its Psilocybin for Neuropsychiatry, or PFN™, Program is leveraging their proprietary psilocybin formulation to address multiple conditions.
Let’s take a look at the company’s progress in lining up manufacturing, building relationships and raising the capital needed to execute on its strategy.
A Differentiated Manufacturing Process
Tryp Therapeutics recently partnered with Albany Molecular Research Inc., or AMRI, to provide research, development and cGMP manufacturing of their proprietary psilocybin active pharmaceutical ingredient to support the clinical development and research of chronic pain and eating disorders. The companies have already begun manufacturing demonstration batches of psilocybin—the first step in the process of developing clinical-grade products.
“AMRI is proud to support Tryp Therapeutics in their mission to address diseases with highly unmet needs through the rapid development and scale-up of a novel process to advance psilocybin into human clinical trials,” said AMRI President Christopher Conway in a recent press release. “We are leveraging our core expertise in process development and cGMP manufacturing to help progress Tryp’s clinical pipeline.”
AMRI is a global contract research and development firm with facilities in North America, Europe and Asia recently known for its collaboration with AstraZeneca plc to develop and manufacture its COVID-19 vaccine. In addition to working with AstraZeneca, the company works with Pfizer, Merck, Eli Lilly, Genentech and other leading pharma and biotech companies around the world to develop and manufacture drugs.
Click here to learn more about investing in Tryp Therapeutics
Building Relationships with Leading Centres of Excellence
Tryp Therapeutics recently announced a collaboration with Dr. Jennifer Miller of the University of Florida as the Principal Investigator for a clinical trial to treat the symptoms associated with eating disorders. In collaboration with Dr. Miller, the company began designing a Phase 2a open-label, clinical study utilizing TRP-8802 in patients suffering from rare and orphan over-eating disorders.
“There are currently no approved drugs and only limited options to treat patients with rare over-eating disorders,” said Dr. Miller in a recent press release announcing the collaboration. “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.”
Binge eating disorder is a mental illness that leads to mental and physical health problems, including diabetes, cardiovascular diseases, depression and anxiety. According to Transparency Market Research, the disorder affects approximately 2.8 million U.S. adults with highly limited treatment options—especially for rare forms of the disorder. Psilocybin could help treat the disorder through its interactions with the default mode network (DMN) in the brain.
The company also signed an advisory agreement with Dr. Joel Castellanos, a chronic pain physician at UC San Diego Medical Center. Dr. Castellanos will help guide the development of TRP-8802 for neuropathic pain indications—a type of pain that originates in the brain These conditions are particularly challenging to treat with many current drugs on the market, which are mainly opioid-based, creating an opportunity for psilocybin to be a safer, more effective treatment option.
The neuropathic pain market is estimated to reach $9.8 billion by 2027, according to Coherent Market Insights, driven by cancer-related pain management and diabetic neuropathy. While anticonvulsants remain the primary treatment option, psychedelics have shown significant promise in early research to have a positive effect in neuropathic pain.
Looking Ahead
Tryp Therapeutics recently raised an additional $2 million in a non-brokered private placement led by former Origin House Chairman Marc Lustig in early February. This additional investment enables the company to bring it’s psilocybin programs into clinical trials and funds the company through 2021. Investors may want to keep an eye on the company as it continues to gear up for additional clinical trials with the right people, capital and partnerships in place to be successful.
Click here to learn more about investing in Tryp Therapeutics
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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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