Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF), a pioneering clinical-stage biotechnology company focused on developing intravenous-infused psilocin (the active metabolite of psilocybin) for diseases with high unmet medical needs, has obtained an interim order of the Supreme Court of British Columbia in connection with the proposed arrangement between Tryp and Exopharm Limited ACN 163 765 991. The order is to be implemented under a statutory plan of arrangement and provides for the company to schedule and hold an annual general and special meeting of Tryp security holders. According to the announcement, during the meeting, securityholders will consider and vote on a special resolution approving the arrangement between Tryp and Exopharm. Tryp has scheduled the meeting to be held at 10 a.m. ET on March 8, 2024, in Toronto, Ontario. Eligible securityholders will receive a notice of the meeting along with a management information circular, a letter of transmittal and other related material meetings. Tryp noted that it has filed an application for the final order of the court to approve the arrangement; approval is expected on or about March 11, 2024, pending approval from Tryp security holders and other required regulatory approvals, as well as all other conditions being met.
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About Tryp Therapeutics Inc.
Tryp Therapeutics is a clinical-stage biotechnology company focused on developing proprietary, novel formulations for the administration of psilocin in combination with psychotherapy to treat diseases with unmet medical needs. Tryp’s lead program, TRP-8803, is a proprietary formulation of IV-infused psilocin (the active metabolite of psilocybin) that alleviates numerous shortcomings of oral psilocybin including significantly reducing the time to onset of the psychedelic state, controlling the depth and duration of the psychedelic experience, and reducing the overall duration of the intervention to a commercially feasible timeframe. The company has completed a phase 2a clinical trial for the treatment of binge-eating disorder at the University of Florida, which demonstrated an average reduction in binge-eating episodes of greater than 80%. The company has also recently announced commencement of patient dosing in a phase 2a clinical trial for the treatment of fibromyalgia in collaboration with the University of Michigan and is preparing to initiate a phase 2a clinical trial in collaboration with Massachusetts General Hospital for the treatment of abdominal pain and visceral tenderness in patients suffering from irritable bowel syndrome. Each of the studies is utilizing TRP-8802 (synthetic oral psilocybin) to demonstrate clinical benefit in these indications. Where a positive clinical benefit has been demonstrated, subsequent studies are expected to utilize TRP-8803 (IV-infused psilocin), which has the potential to further improve efficacy, safety and patient experience. For more information about the company, please visit www.TrypTherapeutics.com.
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