Tryp Therapeutics (TRYP)

Tryp Therapeutics Company Information

NameTryp Therapeutics
Sector Healthcare
Headquarters335-1632 Dickson Ave
Kelowna, BC. Canada V1Y 7T2
Phone1-833-811-TRYP (8797)

Tryp therapeutics is a clinical-stage biotechnological company that utilizes expedited regulatory pathways to select and refine medicinal compounds. 

These compounds provide an effective and faster alternative to treating and managing orphan diseases and diseases with high unmet medical needs. 

They aim to discover and use compounds that display activity and safety profiles to treat a myriad of conditions that have not received adequate treatment. 

Ongoing Tryp development programs 

Currently, Tryp is conducting two programs. 

PFN™ program, aka Psilocybin for Neuropsychiatric Disorders – the leading candidate for this program is the TRP-8802.

This is an orally administered formulation. It is synthetic psilocybin whose initial indication was to treat fibromyalgia:

  • Fibromyalgia – this condition affects more than 5 million people worldwide. It is characterized by depression, chronic full-body pain, fatigue, irregular sleep patterns, and reduced cognitive function. 
  • Eating disorders
  • Conditions characterized by chronic pain

TRP-1001 oral formulation of Razoxane for soft tissue sarcomas 

Sarcomas are quite rare and diverse. They account for 7% of all child-related cancers and 1% of cancers in adults. 

With the many studies conducted in the past on razoxane and the high success rate, Tryp believes that TRP-1001 may move quickly to phase 2 without spending too much time in the preclinical and phase 1 trials. 

Razoxane has shown great strides towards inhibiting metastatic tumors’ recurrence when combined with radiation therapy or other agents. 

Additionally, Tryp Therapeutics believes that TRP-1001 should be considered an orphan drug, considering the low prevalence rate of soft tissue sarcomas.

Tryp Therapeutics’ mission 

The company seeks to identify and develop drugs that have an advantage over the ones available. These drugs will ideally have the following characteristics:

  • High efficiency
  • A drug that can naturally penetrate the blood-brain barrier
  • Guarantees 100% safety and zero toxicity profiles
  • Minimum chance of abuse
  • Presents a minimum opportunity for addiction

What’s next for Tryp Therapeutics?

Tryp intends to pursue the Food and Drug Administration’s approval to expedite the study and allow the company to start at phase 2 of clinical trials. This is based on the enormous existing data collected in preclinical and clinical studies of TRP-8802 and TRP-1001.  

After gaining approval, the company intends to monetize the programs during phase 2 of the clinical trials. 

Financial news

On February 17th, 2021, Tryp Therapeutics completed a $2 million non-brokered private placement deal. Each unit sold at the price of $0.6. 3,333,333 units were involved in the placement, summing up to $2 million.

The funds acquired from the placement will support the company’s research and development initiatives and run the business.