Tryp Therapeutics Inc.

Tryp Therapeutics Appoints Dr. Robin Carhart-Harris to Scientific Advisory Board

La Jolla, California--(Newsfile Corp. - February 2, 2021) - Tryp Therapeutics, a clinical-stage pharmaceutical company developing medications targeting diseases with high unmet medical needs, is pleased to announce that it has added world renowned psychedelic scientist, Dr. Robin Carhart Harris to help lead its Scientific Advisory Board.

Dr. Robin Carhart-Harris states, "I'm delighted to be joining the Tryp team. Amidst the rapid growth that is occurring in the psychedelic pharmaceutical space, Tryp stands out as one of the most well operated companies I have come across. I'm impressed by the breadth and depth of their experience in drug development and am pleased to be complementing this team with my own psychedelic-specific expertise."

Dr. Carhart-Harris is the Head of the Centre for Psychedelic Research in the Department of Brain Sciences at Imperial College London where he has published numerous clinical trials studying the effects of psychedelics on the brain. While there, he has designed a number of functional brain imaging studies with psilocybin (magic mushrooms), LSD, MDMA (ecstasy) and DMT (ayahuasca). Dr. Carhart-Harris has over 90 published papers in peer-reviewed scientific journals; 5 of which rank in the top 10 for annual citation rate in the field of psychedelic science, including the top 2 overall. Robin's research has featured in major national and international media and he has given a popular TEDx talk and has been a leading voice for psychedelic medicine at the World Economic Forum in Davos. His talks on psychedelic-assisted therapy play a significant role in the development of psychedelics as novel pharmaceuticals for the treatment of disorders currently underserved with existing therapies and he will play a crucial role in helping to shape Tryp's upcoming clinical trials.

"We are honored to have someone of Robin's scientific stature join our Scientific Advisory Board," says Jim Kuo, Tryp's CEO. "Robin is a world-renowned psychedelic researcher who has made groundbreaking findings on the therapeutic potential of psychedelics. Robin will play a critical role in shaping the design of our forthcoming planned clinical trials of TRP-8802 in chronic pain and eating disorders," he added.

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.

Contact:

For inquiries, please contact us at:

TRYP Investor Relations
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 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.

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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