Category: Tryp Therapeutics

La Jolla, CA – December 17, 2020 – Tryp Therapeutics Inc. (“Tryp” or the “Company“) is pleased to announce the successful closing of previously announced initial public offering (the “Offering“) of units (the “Units”).  A total of 20,010,000 Units were sold, including 2,610,000 Units following the exercise in full by the Agent (as defined herein) of its over-allotment option, at a price of $0.25 per Unit for aggregate gross proceeds of $5,002,500.

Each Unit consists of one common share in the capital of the Company (each a “Common Share“) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant“). Each Warrant is exercisable into one Common Share (each, a “Warrant Share“) at an exercise price of $0.50 per Warrant Share at any time prior to 5:00 p.m. (Vancouver time) on December 17, 2021, subject to acceleration in certain events.

The Common Shares are expected to commence trading on the Canadian Securities Exchange under the symbol “TRYP” on or about December 18, 2020.

Canaccord Genuity Corp. acted as the sole agent (the “Agent“) for the Offering.

Pushor Mitchell LLP acted as legal counsel to the Company and Borden Ladner Gervais LLP acted as legal counsel to the Agent in connection with the Offering.

No securities regulatory authority nor the CSE has either approved or disapproved of the contents of this news release. The Common Shares and Warrants comprising the Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the Units may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Tryp Therapeutics:

Tryp Therapeutics is a pharmaceutical company focused on developing compounds with known activity and/or safety profiles for the treatment of rare or orphan diseases and other diseases with high unmet medical needs.  Tryp’s PFN™ Program is focused on the use of psilocybin for the treatment of certain neuropsychiatric-based disorders.  Tryp’s lead PFN™ drug candidate is TRP-8802 for the treatment of fibromyalgia, a chronic pain syndrome estimated to affect more than 5 million people in the United States.

In addition to its PFN™ Program, Tryp is also developing TRP-1001, an oral formulation of razoxane for the treatment of soft tissue sarcoma.  Soft tissue sarcomas are a rare and diverse group of tumors that account for about 1% of all cancers in adults and 7% in children.  Based on the prevalence of soft tissue sarcomas in the United States, Tryp believes it is a rare disease and that TRP-1001 should qualify for Orphan Drug status.

Contact: 

Tryp Therapeutics Inc.
James Kuo, MD – Chief Executive Officer
E:  jkuo@tryptherapeutics.com
W: www.tryptherapeutics.com

For inquiries please contact us at:
T:  1-833-811-TRYP (8797)
E: investors@tryptherapeutics.com

Forward-Looking Information

Certain information in this news release, including statements relating to the anticipated date that the Common Shares will commence trading on the Canadian Securities Exchange [and the exercise of the over-allotment option,] constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

La Jolla, CA – December 14, 2020 – Tryp Therapeutics Inc. (“Tryp” or the “Company”) announced today that Canaccord Genuity Corp. (the “Agent”), the sole agent for Tryp’s previously announced initial public offering (the “Offering”) of 17,400,000 units (the “Units”), has fully exercised its option to increase the size of the Offering by 2,610,000 Units.  As a result, the Company will issue a total of 20,010,000 Units, for aggregate gross proceeds of $5,002,500.

The Units are being sold pursuant to the Company’s long form prospectus dated December 8, 2020 at an offering price of $0.25 per Unit.  The closing of the Offering is expected to occur on or about December 17, 2020 and is subject to customary closing conditions, including the receipt of all necessary regulatory approvals.

The Offering is being made only by prospectus. The prospectus contains important detailed information about the securities being offered. A copy of the final prospectus may be obtained from the Agent and is available on SEDAR at www.sedar.com. Investors should read the prospectus before making an investment decision.

About Tryp Therapeutics:

Tryp Therapeutics is a pharmaceutical company focused on developing compounds with known activity and/or safety profiles for the treatment of rare diseases and other diseases with high unmet medical needs. Tryp’s psilocybin-for-neuropsychiatric disorders, or PFN™, program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of certain neuropsychiatric-based disorders. Tryp’s lead PFN™ drug candidate is TRP-8802 for the treatment of fibromyalgia, a chronic pain syndrome estimated to affect more than 5 million people in the United States.

In addition to its PFN™ Program, Tryp is also developing TRP-1001, an oral formulation of razoxane for the treatment of soft tissue sarcoma.  Soft tissue sarcomas are a rare and diverse group of tumors that account for about 1% of all cancers in adults and 7% in children.  Based on the prevalence of soft tissue sarcomas in the United States, Tryp believes it is a rare disease and that TRP-1001 should qualify for Orphan Drug status.

Contact: 

Tryp Therapeutics Inc.
James Kuo, MD – Chief Executive Officer
E:  jkuo@tryptherapeutics.com
W: www.tryptherapeutics.com 

For inquiries please contact us at:
T:  1-833-811-TRYP (8797)
E: investors@tryptherapeutics.com

No securities regulatory authority nor the CSE has either approved or disapproved of the contents of this news release. The Common Shares and Warrants comprising the Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the Units may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Information

Certain information in this news release, including statements relating to the closing of the Offering, constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

 

La Jolla, CA – December 10, 2020 – Tryp Therapeutics Inc. (“Tryp” or the “Company”) is pleased to announce that it has obtained a receipt for its final prospectus, which was filed with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario on December 8, 2020 in connection with the initial public offering (the “Offering“) of 17,400,000 units of the Company (the “Units”) at a price of $0.25 per Unit.  The aggregate gross proceeds of the Offering will be $4,350,000.

Each Unit consists of one common share in the capital of the Company (each a “Common Share“) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant“). Each Warrant is exercisable into one Common Share (each, a “Warrant Share“) at an exercise price of $0.50 per Warrant Share at any time prior to 5:00 p.m. (Vancouver time) on the date that is 12 months following the closing of the Offering, subject to acceleration in certain events.

Canaccord Genuity Corp. is acting as the sole agent (the “Agent“) for the Offering.

Tryp has granted the Agent an over-allotment option to purchase up to an additional 2,610,000 Units (the “Agent’s Option Units“) at a price of $0.25 per Agent’s Option Unit to cover the Agent’s over-allocation position, if any, and for market stabilization purposes.

The closing of the Offering is expected to occur on or about December 16, 2020 (the “Closing Date“) and is subject to customary closing conditions, including the receipt of all necessary regulatory approvals. Tryp has received conditional listing approval of the Canadian Securities Exchange (the “CSE“) for the listing of its Common Shares. Listing remains subject to Tryp fulfilling customary CSE requirements. The Common Shares are expected to commence trading on the CSE under the symbol “TRYP” on or about December 17, 2020.

No securities regulatory authority nor the CSE has either approved or disapproved of the contents of this news release. The Common Shares and Warrants comprising the Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the Units may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This Offering is being made only by prospectus. The prospectus contains important detailed information about the securities being offered. A copy of the final prospectus may be obtained from the Agent and is available on SEDAR at www.sedar.com. Investors should read the prospectus being making an investment decision.

About Tryp Therapeutics:

Tryp Therapeutics is a pharmaceutical company focused on developing compounds with known activity and/or safety profiles for the treatment of rare diseases and other diseases with high unmet medical needs. Tryp’s psilocybin-for-neuropsychiatric disorders, or PFN™, program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of certain neuropsychiatric-based disorders. Tryp’s lead PFN™ drug candidate is TRP-8802 for the treatment of fibromyalgia, a chronic pain syndrome estimated to affect more than 5 million people in the United States.

In addition to its PFN™ Program, Tryp is also developing TRP-1001, an oral formulation of razoxane for the treatment of soft tissue sarcoma.  Soft tissue sarcomas are a rare and diverse group of tumors that account for about 1% of all cancers in adults and 7% in children.  Based on the prevalence of soft tissue sarcomas in the United States, Tryp believes it is a rare disease and that TRP-1001 should qualify for Orphan Drug status.

Contact: 

Tryp Therapeutics Inc.
James Kuo, MD – Chief Executive Officer
E:  jkuo@tryptherapeutics.com
W:  www.tryptherapeutics.com 

For inquiries please contact us at:
T:  1-833-811-TRYP (8797)
E:investors@tryptherapeutics.com

Forward-Looking Information

Certain information in this news release, including statements relating to the closing of the Offering and the exercise of the over-allotment option, the Closing Date, approval of the CSE and the commencement of trading of the Common Shares on the CSE, constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

La Jolla, California–(Newsfile Corp. – November 12, 2020) – Tryp Therapeutics, a pharmaceutical company focused on identifying and developing clinical-stage compounds for diseases with high unmet medical needs, announced today it has appointed Dr. Jim Gilligan as President and Chief Scientific Officer.

Dr. Gilligan brings over 30 years of drug development activities including pharmacology, preclinical activities, CMC manufacturing, clinical phase I-III, as well as US and international regulatory strategies. A tangible result of this broad-based experience is reflected in the fact that he was a co-founder of Unigene Laboratories, the first company to have a recombinant peptide product (Fortical®) approved by the FDA via the 505(b)(2) NDA route.

Dr. James Kuo, MD, MBA, Tryp’s CEO states, “We are fortunate to have found someone of Dr. Gilligan’s vast experience in drug development and regulatory expertise. His particular knowledge in 505(b)(2) NDA drug development will be critical in the advancement of our two drug programs, which have a similar regulatory strategy. We couldn’t be more excited to welcome him to our team.”

Jim transitioned from research and development to business development and during this time obtained a Masters in International Business from Seton Hall University. As VP Product and Business Development, he established a biotech joint venture which led to him co-founding Herborium Inc., a company involved in the development of Botanical Therapeutics™.

Mr. Gilligan was responsible for executing numerous feasibility and licensing deals with the pharma industry. As part of his business development responsibilities he worked frequently with investment bankers, venture capitalists, and investment advisors. Additionally, Jim was a co-founder and CSO of Tarsa Therapeutics that completed the phase III ORACAL study as well the NDA submission for TBRIA an oral formulation of recombinant salmon calcitonin for the treatment of postmenopausal osteoporosis.

Dr. Jim Gilligan, President and CSO states, “I am excited to join this team of seasoned bio-executive professionals dedicated to bringing forward innovative drug candidates addressing diseases with significant unmet medical needs. To be at the forefront of this new and emerging psychedelic renaissance in biotech and drug development provides a unique opportunity to continue the groundbreaking research surrounding psychedelics and explore the potential of Psilocybin in the treatment of a wide range of serious diseases.”

Dr. Gilligan received his PhD in Pharmacology and Toxicology from the University of Connecticut where his research focus was cardiovascular disease, in particular atherosclerosis. He continued his post graduate education at the Roche Institute of Molecular Biology where his post-doctoral research explored changes that occur in blood vessels during the development of hypertension.

About Tryp Therapeutics:

Tryp Therapeutics is a pharmaceutical company focused on identifying and developing clinical-stage compounds. It is led by a management team with extensive drug development experience that is advancing transformative medicines with existing clinical data and known safety profiles for diseases with no effective first-line treatments. The company is building a diversified portfolio of product candidates targeting neuropsychiatric and oncology indications with high unmet medical needs.

Contact:

TRYP Therapeutics Inc.
Investor Relations
T: 1-833-811-TRYP (8797)
E: investors@tryptherapeutics.com
W: www.tryptherapeutics.com

Cautionary Statement:

Forward-looking information

This news release contains forward-looking information relating to the Company’s proposed activities and other statements that are not historical facts. Forward-looking information relates to management’s future outlook and anticipated events or results and includes statements or information regarding the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These factors include risks and uncertainties associated with or arising as a result of delays in obtaining or an inability to obtain required regulatory approvals, access to sufficient quantities of cannabis, the results of diligence investigations, the actions of third parties, the results of negotiations with third parties, developments in the cannabis sector, the ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company’s interim and most recent annual financial statement or other reports and filings, including those made with the CSE and applicable Canadian securities regulators. There can be no assurance that such forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information.

Drs. Rachel Wevrick and Derek Ott to advise on drug development programs

La Jolla, California, Oct 06, 2020 (Newsfile Corp via COMTEX) — La Jolla, California–(Newsfile Corp. – October 6, 2020) – Tryp Therapeutics Inc. (“Tryp” or the “Company“), a pharmaceutical company developing therapeutics specifically targeting diseases with high unmet medical needs announced today the formation of a Scientific Advisory Board (“SAB“) for its Psilocybin For Neuropsychiatry (“PFN™“) program. The PFN™ SAB is a preeminent group of experts in neuropsychiatry research and clinical care specifically chosen to advise on the Company’s TRP-8802, TRP-8803 and TRP-8804 investigational drugs.

Tryp has entered into consulting agreements with Dr. Rachel Wevrick, PhD, of University of Alberta, and Dr. Derek Ott, MD, MS, of University of California, Los Angeles (UCLA) School of Medicine. Dr. Wevrick is Professor, Department of Medical Genetics, at University of Alberta. Her research is focused on the genetic, molecular, and physiological basis of abnormal neurodevelopment, growth and metabolism in developmental disorders affecting children. Her specific areas of interest include: Prader-Willi syndrome (“PWS“) and Translational research in PWS, Schaaf-Yang syndrome, and other neurodevelopmental disabilities that are caused by de novo or inherited genetic mutations that affect the function of the brain and nervous system including Bardet-Biedl syndrome, Tourette syndrome, and severe early onset obesity with intellectual disability. She earned her PhD from the Department of Molecular and Medical Genetics, University of Toronto and completed post-doctoral fellowships in the Department of Genetics at The Hospital for Sick Children Research Institute, and at Howard Hughes Medical Institute, Stanford University School of Medicine.

Dr. Derek Ott is associate clinical professor of psychiatry at UCLA School of Medicine, the director of the UCLA Pediatric Neuropsychiatry Clinic and a psychiatric consultant for Westside and Frank D Lanterman Regional Centers in Los Angeles. He is board certified physician in in both child and adolescent as well as adult psychiatry. Dr. Ott graduated from Stanford University with honors and a degree in human biology. He then attended the University of Illinois in Urbana-Champaign, where he completed his medical and graduate training (Masters in Neuroscience). Dr. Ott began his clinical training in psychiatry at the University of California-Los Angeles Resnick Neuropsychiatric Hospital in Westwood, where he completed a residency in Adult Psychiatry , as well as a fellowship in Child and Adolescent Psychiatry. Following this clinical training, Dr. Ott participated in a NIMH sponsored post-doctoral fellowship which focused on psychopathology in pediatric epilepsy. Dr. Ott has particular expertise in the areas of neuropsychiatry, developmental disabilities, attention-deficit hyperactivity disorder and childhood psychosis. He has extensive experience working with individuals with neurological disorders, developmental disabilities (i.e. autism and intellectual disability), as well as comorbid behavioral/psychiatric disorder. His private practice focuses on psychopharmacology in children, adolescents, and adults.

“Working with Drs. Wevrick and Ott fulfill a critical component of our development strategy focused on accelerating psilocybin clinical testing. We are very pleased to have two such well recognized key opinion leaders support our PFN™ program. By working with them, we are able to design the optimal drug development pathway for fibromyalgia and Prader-Willi Syndrome,” said Tom D’Orazio, Chief Operating Officer of Tryp.

About Tryp Therapeutics:

Tryp Therapeuticsis an early stage pharmaceutical development company led by a management team with extensive drug development experience that is advancing transformative medicines with existing clinical data and known safety profiles for diseases with no effective first-line treatments. The Company is building a diversified portfolio of product candidates targeting neuropsychiatric and oncology indications with high unmet medical needs.

Contact:
TRYP Therapeutics Inc.
James Kuo, MD, MBA, Chief Executive Officer
E: jkuo@trytherapeutics.com
T: 1-833-811-TRYP (8797)

Forward Looking Statements

Certain statements in this press release may constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding Tryp’s future, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only Tryp’s expectations, estimates and projections regarding future events. These statements are not guaranteeing future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. The forward-looking information and forward-looking statements included in this press release are made as of the date of this press release. The Company does not undertake an obligation to update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities law.