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Tryp Therapeutics Strengthens IP Portfolio with Provisional Patent Application for Binge Eating Disorder Treatment

Tryp Therapeutics Strengthens IP Portfolio with Provisional Patent Application for Binge Eating Disorder Treatment

Biotech Company Strengthens Strategic Intellectual Property Protection of Targeted Indication

San Diego, California — (June 29, 2022) – Tryp Therapeutics, Inc. (CSE: TRYP) (OTCQB: TRYPF) (“Tryp” or the “Company”), a clinical-stage biotechnology company focused on developing psilocybin-based compounds for diseases with unmet medical needs, announced today the filing of a new provisional patent for the use of psilocybin for the treatment of patients with Binge Eating disorder (BED).

The new patent application is part of Tryp’s corporate strategy to expand the clinical utility of psilocybin-assisted therapy in patients with BED who are awaiting transformative medicines. Tryp’s Phase II S.T.O.P. (Study of the Treatment of Overeating utilizing Psilocybin) trial in collaboration with the University of Florida, represents the first use of psilocybin in conjunction with psychotherapy as a therapeutic intervention in patients with BED. The initial data readout for the first patient dosed in the STOP trial showed potential benefit for patients with BED, further supporting the Company’s commitment to developing psilocybin based therapies for patients with eating disorders. Once issued, the new patent will provide Tryp with an Intellectual Property Protection for BED utilizing its psilocybin-based candidates TRP-8802 and TRP-8803.

“We have elected to pursue indications that are distinct from other industry players, thereby distinguishing our research and development pipeline among our peers,” said Jim Gilligan, Interim CEO and Chief Scientific Officer, Tryp Therapeutics. “TRP-8802, our clinical candidate, has shown promising early data endpoints. The expansion of our patent portfolio enables us to develop a psychedelic treatment in conjunction with psychotherapy for BED patients while also strengthening Tryp’s position as an industry leader with an expanding Intellectual Property Estate.”

Tryp is utilizing TRP-8802 to evaluate the use of psilocybin-related compounds in certain neuropsychiatric disorders in early-stage trials. In disorders where efficacy is indicated, Tryp’s lead drug candidate TRP-8803 which is being developed concurrently, will be studied in subsequent trials. TRP-8803 includes a unique formulation and delivery system and is designed to enhance the positive effects of psilocybin and psilocybin-related compounds, while markedly reducing the limitations of psilocybin dosed through other routes of administration, including oral, nasal and sublingual.

About Binge Eating Disorder (BED)

  • BED is characterized by recurring episodes of eating large quantities of food and feeling unable to stop.
  • Nearly 30% of people seeking weight loss treatments show signs of BED.
  • Up to 3.5% of females and 2.0% of males will develop BED at some point in their lives – nearly 4 million women and 2 million men in the United States; treatments to date have not been effective.


About Tryp Therapeutics

Tryp Therapeutics is a clinical-stage biotechnology company focused on developing psilocybin-related molecules, including TRP-8803, for the treatment of diseases with unmet medical needs through accelerated regulatory pathways. Tryp’s Psilocybin-For-Neuropsychiatric Disorders (PFN™) program is focused on the development of synthetic psilocybin-related molecules as a new class of drug for the treatment of binge eating, chronic pain, and other indications. The Company has begun enrolling patients in its Phase II trial for the treatment of binge eating disorder at the University of Florida and recently announced an upcoming Phase IIa clinical trial with the University of Michigan to evaluate TRP-8802 for fibromyalgia. TRP-8803 is a proprietary psilocybin-based product that uses a novel formulation and route of administration to potentially improve efficacy, safety and the patient experience. For more information, please visit www.tryptherapeutics.com.

Investor Relations:
Jim Gilligan, Interim CEO
Tryp Therapeutics
jgilligan@tryptherapeutics.com

Media Relations:
Francesca DeMauro
KCSA Strategic Communications
TRYP@KCSA.com

Forward-Looking Information

Certain information in this news release 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 Tryp 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 Tryp’s final prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Tryp; 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 Tryp 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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Tryp Therapeutics Appoints New Chief Operating Officer

Tryp Therapeutics Appoints New Chief Operating Officer

Sid Taubenfeld with Extensive Experience in the Financial Markets and as a Biotech Executive Joins Tryp as Company Prepares to Expand Patient Access to Psilocybin-Based Treatments

San Diego, California — (June 23, 2022) – Tryp Therapeutics, Inc. (CSE: TRYP) (OTCQB: TRYPF) (“Tryp” or the “Company”), a clinical-stage biotechnology company focused on developing psilocybin-based compounds for diseases with unmet medical needs, announced today that Sid Taubenfeld, a seasoned executive with healthcare and biotech expertise, has joined the Company’s senior leadership team as Chief Operating Officer.

Taubenfeld is a forward-thinking leader with over 20 years of significant experience in senior leadership roles and a deep understanding of scientific, financial, and commercial strategy. Most recently, he served as the CEO of Tikun Olam Pharma (TOP), a leading medical cannabis company based in Israel.

“Sid brings to his new role a wealth of expertise in building and growing emerging biotech companies and a strong reputation for developing people and inspiring teams,” said Jim Gilligan, Interim CEO and Chief Scientific Officer, Tryp Therapeutics. “Furthermore, his national and international experience will be a valuable asset as we continue to drive growth through our clinical trials, filed patents, and previously announced strategic actions.”

Sid’s primary responsibilities will include developing the organization’s long-term vision and strategy alongside the CEO and Board; ensuring that the company operates effectively and efficiently in all areas; and helping ensure a high-performing portfolio and psychedelic medicine advancements at Tryp.

Previously, Taubenfeld gained extensive pharmaceutical experience in a variety of executive management roles in the United States and Israel. He graduated from Brooklyn College of Pharmacy with a B.S. in Pharmacy and completed his graduate studies at New York Medical College in the area of Pharmacology.

About Tryp Therapeutics

Tryp Therapeutics is a clinical-stage biotechnology company focused on developing psilocybin-related molecules, including TRP-8803, for the treatment of diseases with unmet medical needs through accelerated regulatory pathways. Tryp’s Psilocybin-For-Neuropsychiatric Disorders (PFN™) program is focused on the development of synthetic psilocybin-related molecules as a new class of drug for the treatment of binge eating, chronic pain, and other indications. The Company has begun enrolling patients in its Phase II trial for the treatment of binge eating disorder at the University of Florida and recently announced an upcoming Phase IIa clinical trial with the University of Michigan to evaluate TRP-8802 for fibromyalgia. TRP-8803 is a proprietary psilocybin-based product that uses a novel formulation and route of administration to potentially improve efficacy, safety and the patient experience. For more information, please visit www.tryptherapeutics.com.

Investor Relations:
Jim Gilligan, Interim CEO
Tryp Therapeutics
jgilligan@tryptherapeutics.com

Media Relations:
Francesca DeMauro
KCSA Strategic Communications
TRYP@KCSA.com

Forward-Looking Information

Certain information in this news release 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 Tryp 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 Tryp’s final prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Tryp; 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 Tryp 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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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1 psilocybin therapy session = 12 months of therapy alone

Tryp Therapeutics Announces Results of First Patient Dosed in Its Phase II Clinical Trial for the Treatment of Binge Eating Disorder

Tryp Therapeutics (TRYP) and University of Florida initiated the first-ever psilocybin therapy study on binge eating disorder, and the results are already showing promise.

Just 4 weeks after receiving Tryp’s psilocybin formulation, TRP-8802, the first patient experienced:

  • Reduced overall anxiety
  • Reduced anxiety around food
  • Reduced compulsion to overeat
  • Improved self-image and confidence 
  • Significant weight loss

“We believe that the improvements witnessed in this patient following a single intervention with TRP-8802 in combination with tailored psychotherapy are on par with what might be possible in 12 months of extensive psychotherapy alone,” says Tryp’s Interim CEO and Chief Scientific Officer Jim Gilligan.

Researchers will follow up with the patient again in 8 weeks to see if the benefits are sustained. Up to 9 more patients will participate in the study as well.

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Tryp Therapeutics Strengthens Board of Directors with Appointment of Chris Ntoumenopoulos as Independent Director

Tryp Therapeutics Strengthens Board of Directors with Appointment of Chris Ntoumenopoulos as Independent Director

Industry leader Chris Ntoumenopoulos to support biotech Company’s mission to advance the delivery of psychedelic medicines

San Diego, California — (May 25, 2022) – Tryp Therapeutics, Inc. (CSE: TRYP) (OTCQB: TRYPF) (“Tryp” or the “Company”), a clinical-stage biotechnology company focused on developing psilocybin-based compounds for diseases with unmet medical needs, announced today the appointment of Chris Ntoumenopoulos to the Company’s Board of Directors.

“Chris is a seasoned, mission-driven advisor who supports organizations to excel beyond development and commercialization challenges,” said Jim Gilligan, Interim CEO and Chief Scientific Officer, Tryp Therapeutics. “He brings both financial and biotech experience as well as a global perspective to the Tryp team. His appointment is a milestone in Tryp’s growth strategy and mission to fulfill the vast demand for innovative health solutions for underserved indications.”

Ntoumenopoulos comes to Tryp with extensive experience in financial markets both in raising capital and corporate strategy. He currently serves as the Managing Director at 21 Corporate, an Australia-based Corporate Advisory firm which provides funding and corporate support for innovative companies and technologies. In addition, Ntoumenopoulos is a strategic investment adviser at Freeman Road, an investment group specializing in health and early-stage MedTech companies. Ntoumenopoulos also serves as Director of ResApp Diagnostics (RAP), a respiratory diagnostic company focusing on digital medicine, and as Director of ASX listed Race Oncology (RAC).

Ntoumenopoulos said, “Millions of individuals suffering from various forms of mental illness are in dire need of efficacious treatment alternatives, and Tryp is forging new ground with its tactical clinical approach. I look forward to collaborating with the team to further develop our novel drug pipeline and bring to market critical solutions to patients in need.”

About Tryp Therapeutics
Tryp Therapeutics is a clinical-stage biotechnology company focused on developing psilocybin-related molecules, including TRP-8803, for the treatment of diseases with unmet medical needs through accelerated regulatory pathways. Tryp’s Psilocybin-For-Neuropsychiatric Disorders (PFN™) program is focused on the development of synthetic psilocybin-related molecules as a new class of drug for the treatment of binge eating, chronic pain, and other indications. The Company has begun enrolling patients in its Phase II trial for the treatment of binge eating disorder at the University of Florida and recently announced an upcoming Phase IIa clinical trial with the University of Michigan to evaluate TRP-8802 for fibromyalgia. TRP-8803 is a proprietary psilocybin-based product that uses a novel formulation and route of administration to potentially improve efficacy, safety and the patient experience. For more information, please visit www.tryptherapeutics.com.

Investor Relations:
Jim Gilligan, Interim CEO
Tryp Therapeutics
jgilligan@tryptherapeutics.com

Media Relations:
Francesca DeMauro
KCSA Strategic Communications
TRYP@KCSA.com

Forward-Looking Information

Certain information in this news release 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 Tryp 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 Tryp’s final prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Tryp; 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 Tryp 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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Tryp Therapeutics Doses First Patient in Phase II Psilocybin-assisted Therapy Clinical Trial

Tryp Therapeutics Doses First Patient in Phase II Psilocybin-assisted Therapy Clinical Trial

Phase II trial to determine efficacy of psilocybin in combination with psychotherapy for potential treatment of Binge Eating Disorder

San Diego, California — (April 27, 2022) – Tryp Therapeutics, Inc. (CSE: TRYP) (OTCQB: TRYPF) (“Tryp” or the “Company”), a clinical-stage biotechnology company focused on developing psilocybin-based compounds for diseases with unmet medical needs, announced today that the first patient has been dosed in the Company’s Phase II clinical trial for its lead candidate, TRP-8802. In combination with psychotherapy, TRP-8802 is intended to serve as a potential treatment of Binge Eating Disorder (“BED”).

“The world’s first FDA regulated clinical trial for psilocybin-assisted therapy targeting BED is underway, further advancing our clinical milestones,” said Dr. Jim Gilligan, Chief Scientific Officer, and interim CEO of Tryp Therapeutics. “This is a key study for our psilocybin-assisted therapy portfolio as we assess the effectiveness of TRP-8802 (oral psilocybin) to treat patients with BED. There has been strong interest in trial recruitment to date. We believe that psilocybin-assisted therapy has the potential to offer a new therapeutic treatment for BED, a disorder that devastates the lives of over 250,000 people each year.”

The first of up to 10 patients with BED, has now been dosed in this open-label, exploratory Phase II study of TRP-8802 in combination with psychotherapy. The study will investigate the safety and preliminary efficacy of psilocybin-assisted therapy among patients with BED in collaboration with the University of Florida. The open-label study affords Tryp the ability to monitor results on an ongoing basis.

Tryp’s BED trial will utilize psychotherapy protocols developed in conjunction with Fluence and their dedicated team of well-respected researchers and clinicians who possess extensive psychedelic trials experience and psychotherapeutic training expertise to support healthcare professionals.

“We are thrilled to support Tryp’s BED program and be part of this historical event,” said Ingmar Gorman, Ph.D., Co-Founder of Fluence. He added, “Fluence is excited to assist Tryp in bringing innovative, psychedelic-based treatments to people struggling with overeating that will have a positive and lasting patient impact.”

About Binge Eating Disorder (BED)

  • BED is characterized by recurring episodes of eating large quantities of food and feeling unable to stop.
  • Nearly 30% of people seeking weight loss treatments show signs of BED.
  • Up to 3.5% of females and 2.0% of males will develop BED at some point in their lives; current drug treatments to date have demonstrated limited effectiveness.

About TRP-8802

  • TRP-8802 is a non-proprietary 25 mg oral capsule of synthetic psilocybin.
  • Using TRP-8802 for Phase 2a studies allows Tryp to quickly initiate clinical trials to generate initial data while they concurrently develop an improved, proprietary formulation and delivery system (TRP-8803) for psilocybin-related molecules for target indications like BED.


About Tryp Therapeutics
Tryp Therapeutics is a clinical-stage biotechnology company focused on developing psilocybin-related molecules, including TRP-8803, for the treatment of diseases with unmet medical needs through accelerated regulatory pathways. Tryp’s Psilocybin-For-Neuropsychiatric Disorders (PFN™) program is focused on the development of synthetic psilocybin-related molecules as a new class of drug for the treatment of binge eating, chronic pain, and other indications. The Company has begun enrolling patients in its Phase II trial for the treatment of binge eating disorder at the University of Florida and recently announced an upcoming Phase IIa clinical trial with the University of Michigan to evaluate TRP-8802 for fibromyalgia. TRP-8803 is a proprietary psilocybin-based product that uses a novel formulation and route of administration to potentially improve efficacy, safety and the patient experience. For more information, please visit www.tryptherapeutics.com.

About Fluence
Fluence is an expertise-driven educational platform that provides professional training in psychedelic therapy and psychedelic integration for psychiatrists, psychotherapists, social workers, and other healthcare practitioners. Fluence’s mission is to give healthcare providers the clinical skills and knowledge to provide effective, compassionate, evidence-based psychedelic therapy and integration services to patients through dynamic, interactive online and in-person trainings. www.fluencetraining.com


Investor Relations:
Jim Gilligan, Interim CEO
Tryp Therapeutics
jgilligan@tryptherapeutics.com

Media Relations:
Francesca DeMauro
KCSA Strategic Communications
TRYP@KCSA.com


Forward-Looking Information

Certain information in this news release 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 Tryp 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 Tryp’s final prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Tryp; 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 Tryp 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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Tryp Therapeutics Initiates Enrollment for Binge Eating Disorder Study in Partnership with University of Florida

Tryp Therapeutics Initiates Enrollment for Binge Eating Disorder Study in Partnership with University of Florida

Tryp Therapeutics (TRYP) began enrolling patients for a Phase 2 trial on psilocybin for binge eating. The company is using non-proprietary synthetic psilocybin to generate data quickly while developing a proprietary formulation.

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Tryp Therapeutics Announces $2,000,000 Financing and Changes in Management, Board of Directors

Tryp Therapeutics Announces $2,000,000 Financing and Changes in Management, Board of Directors

SAN DIEGO – February 4, 2022 – Tryp Therapeutics (CSE:TRYP) (CNSX:TRYP.CN) (OTC:TRYPF) (“Tryp” or the “Company“), a pharmaceutical company focused on developing psilocybin-based compounds for diseases with unmet medical needs, is pleased to announce a non-brokered private placement (the “Placement“) to its co-Founder and Executive Director, William J. Garner, M.D. The Placement consists of 11,111,111 million units (the “Units“) at a price of $0.18 per Unit, to raise gross proceeds of approximately $2.0 million. Each Unit consists of one Common Share (each, a “Common Share“) and one Common Share purchase warrant (each, a “Warrant“). Each Warrant entitles the holder to acquire one additional Common Share at a price of $0.25 per Common Share for a period of 24 months from the date of issuance.

“I have tremendous faith in the ability of the Tryp Therapeutics team to develop and gain approval of life changing psilocybin-based drugs. We at EGB Ventures are very pleased to provide funding that will further the Company’s development of these drugs, as we believe they have the potential to change the lives of people suffering from debilitating diseases that currently have no effective treatments,” said Dr. Garner.

The proceeds of the Placement will be used to advance Tryp’s research and development programs and for general working capital purposes. Closing of the Placement is anticipated to occur on or about February 7, 2022, and is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange. The securities issued pursuant to the Placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Warrants will not be listed on any exchange.

In connection with the Placement, the Company has agreed to enter into an investor rights agreement with Dr. Garner, pursuant to which Dr. Garner would be granted the right to nominate three directors to the Company’s board of directors provided that he holds at least 10% of the undiluted equity of the Company. In addition, Dr. Garner would be granted a right of participation in the Company’s future financings such that he can maintain his pro rata ownership in the Company. The Company also agreed to reimburse Dr. Garner for expenses incurred in connection with the Placement in the amount of $50,000.

Additionally, effective February 3, 2022, James Gilligan, Ph.D., Tryp’s President and Chief Scientific Officer, was appointed Interim Chief Executive Officer and Daren Graham, J.D. was appointed Interim Chief Financial Officer. Dr. Gilligan succeeds Gregory McKee, who departed from his roles as Chief Executive Officer and Director of the Company on February 3, 2022. Mr. Graham succeeds Luke Hayes, who departed from his role as Chief Financial Officer on January 31, 2022. Effective February 1, 2022, Company Director P. Gage Jull was appointed as the Company’s new Chairman of the Board.

“I have been a member of Tryp’s senior management since 2020, and I feel privileged to now lead the Company during this very pivotal year ahead. We have tremendous science, and several very important milestones to reach in the coming months,” stated Dr. Gilligan. “The Tryp leadership team is solely-focused on initiating our first clinical trial and continuing the development of TRP-8803, which will take our PFN™ program beyond psilocybin.”


Early Warning

Dr. Garner is a director and controlling shareholder of the Company and, as a result, the issuance of the Units constitutes a related party transaction as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relied upon the exemptions from the formal valuation and minority shareholder approval requirements in sections 5.5(b) – Issuer not Listed on Specified Markets and 5.7(1)(b) – Fair Market Value Not More $2,500,000, respectively of MI 61-101.

In accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Dr. Garner will file an early warning report (the “Early Warning Report”) regarding the change in his ownership and control of securities of the Company.

Prior to the acquisition of Units, Dr. Garner beneficially owned or exercised control or direction over 13,415,000 Common Shares, no Common Share purchase warrants and no stock options, representing approximately 20.07% and 16.08% of the issued and outstanding Common Shares on an undiluted and diluted basis, respectively. Following the acquisition of Warrants, Dr. Garner beneficially owns or exercises control or direction over 24,526,111 Common Shares, no stock options and 11,111,111 Common Share purchase warrants, representing approximately 31.46% and 33.74% of the issued and outstanding Common Shares on an undiluted and diluted basis respectively.

Dr. Garner intends to review his investment in the Company on a continuing basis and may purchase or sell Common Shares, either on the open market or in private transactions, in each case, depending on a number of factors, including general market and economic conditions and other factors and conditions that Dr. Garner deems appropriate. A copy of the Early Warning Report for Dr. Garner will be filed on the Company’s profile on SEDAR at www.sedar.com.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

About Tryp Therapeutics

Tryp Therapeutics is a pharmaceutical company focused on developing psilocybin-based compounds for the treatment of diseases with unmet medical needs. Tryp’s Psilocybin-For-Neuropsychiatric Disorders (PFN™) program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of chronic pain and other indications. The Company has announced upcoming Phase 2a clinical trials with the University of Michigan and the University of Florida to evaluate its drug products for fibromyalgia and binge eating disorder, respectively. Tryp is also developing a proprietary psilocybin-based product, TRP-8803, that uses a novel formulation and route of administration to improve the patient experience. For more information, please visit www.tryptherapeutics.com.

Investor Inquiries:

Joseph Green

Edison Group

investors@tryptherapeutics.com

Media Inquiries:

Annie Graf

KCSA Strategic Communications

TRYP@KCSA.com

1-833-811-8797

Forward-Looking Information

Certain information in this news release 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 Tryp 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 Tryp’s final prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Tryp; 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 Tryp 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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Tryp Therapeutics Announces Q1 2022 Financial Results

Tryp Therapeutics Announces Q1 2022 Financial Results

SAN DIEGO – January 28, 2022 – Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF) (“Tryp” or the “Company”), a pharmaceutical company focused on developing psilocybin-based compounds for diseases with unmet medical needs, announced today its interim financial results for the three month period ended November 30, 2021. Complete financial statements along with related management discussion and analysis can be found in the System for Electronic Document Analysis and Retrieval, the electronic filing system for the disclosure documents of issuers across Canada, at www.SEDAR.com.

The reported period included the submission of Investigational New Drug (“IND”) applications to the US Food and Drug Administration (“FDA”) for two Phase 2a studies in fibromyalgia and binge eating disorder with the University of Michigan and the University of Florida, respectively, that were subsequently authorized by the FDA to proceed.

The Company’s total assets as of November 30, 2021 were $2.4 million, including $2.1 million in cash. Net and comprehensive losses for the three months ended November 30, 2021 were both $3.0 million.

About Tryp Therapeutics

Tryp Therapeutics is a pharmaceutical company focused on developing psilocybin-based compounds for the treatment of diseases with unmet medical needs. Tryp’s Psilocybin-For-Neuropsychiatric Disorders (PFN™) program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of chronic pain and other indications. The Company has announced upcoming Phase 2a clinical trials with the University of Michigan and the University of Florida to evaluate its drug products for fibromyalgia and binge eating disorder, respectively. Tryp is also developing a proprietary psilocybin-based product, TRP-8803, that uses a novel formulation and route of administration to improve the patient experience. For more information, please visit www.tryptherapeutics.com.

Investor Inquiries:

Joseph Green
Edison Group
investors@tryptherapeutics.com

Media Inquiries:

Annie Graf
KCSA Strategic Communications
TRYP@KCSA.com

1-833-811-8797

Forward-Looking Information

Certain information in this news release 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 Tryp 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 Tryp’s final prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Tryp; 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 Tryp 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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Tryp Therapeutics to Participate in Healthcare Conferences in January 2022

Tryp Therapeutics to Participate in Healthcare Conferences in January 2022

SAN DIEGO – January 5, 2022 – Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF) (“Tryp” or the “Company”), a pharmaceutical company focused on developing psilocybin-based compounds for diseases with unmet medical needs, announced today that it will present next week at the H.C. Wainwright Bioconnect Conference and the Biotech Showcase.

The events will be held virtually on January 10-12, 2022. Greg McKee, Chairman and CEO of Tryp, will provide an overview of the company and updates on Tryp’s chronic pain and eating disorder programs.

H.C. Wainwright Bioconnect Conference

When: Available on-demand from January 10 at 7:00 a.m. ET
Registration: Available here

Biotech Showcase

When: Tuesday, January 11 at 6:30 p.m. ET
Registration: Available here

This year, all corporate presentations will be pre-recorded and available on-demand for registered attendees. Replays of the presentations will be available afterward on the Events section of Tryp’s website.

About Tryp Therapeutics

Tryp Therapeutics is a pharmaceutical company focused on developing psilocybin-based compounds for the treatment of diseases with unmet medical needs. Tryp’s Psilocybin-For-Neuropsychiatric Disorders (PFN™) program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of chronic pain and other indications. The Company has announced upcoming Phase 2a clinical trials with the University of Michigan and the University of Florida to evaluate its drug products for fibromyalgia and binge eating disorder, respectively. Tryp is also developing a proprietary psilocybin-based product, TRP-8803, that uses a novel formulation and route of administration to improve the patient experience. For more information, please visit www.tryptherapeutics.com.

Investor Inquiries:

Joseph Green
Edison Group
investors@tryptherapeutics.com

Media Inquiries:

Abby Berger
KCSA Strategic Communications
TRYP@KCSA.com
1-833-811-8797

Forward-Looking Information

Certain information in this news release 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 Tryp 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 Tryp’s final prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Tryp; 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 Tryp 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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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How psilocybin treats eating disorders

Tryp Therapeutics: An Interview with Jim Gilligan Ph.D.

Over-eating disorders occur when the brain is not providing the patient with a signal to feel full. 

According the the Chief Scientific Officer of Tryp Therapeutics (TRYP), psilocybin therapy could be used to correct the malfunctioning neural network while helping patients work through food-related anxiety. 

This week, the company got the go-ahead from the FDA to continue its binge eating study, so we’ll soon know if the theory holds true!