La Jolla, CA – January 13, 2021 – Tryp Therapeutics Inc. (“Tryp” or the “Company”) (CSE: TRYP) a pharmaceutical company focused on identifying and developing clinical-stage compounds for diseases with high unmet medical needsis pleased to announce the appointment of Gregory M. McKee to the Company’s board of directors.
Mr. McKee brings more than 20 years of biotechnology, life sciences management and leadership and venture investment experience to the company. Before joining Tryp, he founded Torrent Ventures, an early stage digital health and medical technology venture fund, and served as chief executive officer of CONNECT, the largest Southern California start-up accelerator creating and scaling innovative life sciences and technology companies. Prior to CONNECT he was Chairman, President and Chief Executive Officer publicly traded Nventa Biopharmaceuticals which successfully merged with Akela Pharma. Additionally, he has held senior management roles at Genzyme Corporation, which was acquired by Sanofi for $22 billion. Mr. McKee has lived and worked in Tokyo, Japan for seven years managing a $550M investment portfolio at the Mizuho Group and as an investment banker with UBS. He was also senior advisor to the Former Minister of Foreign Affairs of Japan. Additionally, Mr. McKee lived and worked in Singapore for 2 years managing Genzyme’s business units in South East Asia and mainland China.
Mr. McKee earned a B.A. in Economics from the University of Washington, a M.A. in International Studies from The Joseph H. Lauder Institute and an M.B.A from the Wharton School, at the University of Pennsylvania. He has been a member of Young President’s Organization (YPO) since 2006.
“We are extremely pleased with the addition of Mr. McKee to the Board of Directors at Tryp, stated William Garner, M.D., Executive Chairman. Greg’s deep understanding of the biotechnology industry and capital markets is invaluable as we elevate Tryp to the next stage in its development.”
In connection with his appointment, Mr. McKee has been granted an aggregate of 200,000 stock options (the “Options”). The Options have an exercise price of $0.75 per share, are exercisable until January 13, 2031 and will be governed in accordance with the terms of the Company’s stock option plan.
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 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.
Tryp Therapeutics Inc.
James Kuo, MD, Chief Executive Officer
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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 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 Company’s prospectus dated December 8, 2020 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.
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