March 18, 2021
La Jolla, California--(Newsfile Corp. - March 18, 2021) - Tryp Therapeutics (CSE: TRYP), a pharmaceutical company focused on developing clinical-stage compounds for diseases with unmet medical needs, announced today that it has submitted a provisional patent (US 63/161,070) to improve how psychedelics are administered across a broad range of indications.
The provisional patent describes novel methods for the formulation, delivery, and dosing of psychedelics resulting in a potential reduction in the time spent by patients in the dissociative state. These proprietary methods represent the foundational elements of the comprehensive medical treatment program Tryp is developing for a wide variety of conditions. This filing is expected to be the first of a series of patent filings to enhance the effectiveness of psychedelics and to further differentiate Tryp's intellectual property position.
The filing includes a method for measuring the response to psychedelic therapeutics, further supporting a more controlled psychedelic experience. The patent application also covers unique methods to manufacture the active pharmaceutical ingredient, novel formulations, methods to enhance the safety profile of treatments, and methods to reduce risk of abuse and addiction.
"We are seizing the opportunity to further differentiate our intellectual property position in psychedelics through core improvements to the formulating, delivery, and dosing of active ingredients," said Jim Gilligan, Ph.D., President and Chief Science Officer of Tryp Therapeutics. "I am continually impressed with the ingenuity and determination of our world-class team of scientists and advisors. Their innovations are empowering Tryp's work to significantly expand the availability of treatment options for those patients with unmet medical needs by demonstrating the safety and efficacy of our psychedelic drug programs."
About Tryp Therapeutics:
Tryp Therapeutics is a pharmaceutical company focused on developing compounds with known activity and safety profiles for the treatment of rare and other diseases with 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. The Company is also preparing to initiate a Phase 2a clinical study for eating disorders in partnership with the Dr. Jennifer Miller at the University of Florida.
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.
Certain information in this news release, including statements relating to the anticipated closing date of the Placement, 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.