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Tryp Therapeutics Has Been Laser Focused On Executing On Its Business Plan Post Listing

Feb 24, 2021 • 7:59 AM EST
7 MIN READ  •  By Michael Berger
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Last month, we highlighted Tryp Therapeutics Inc. (CSE: TRYP) as a hyper-focussed play on the psychedelic biotech market and an opportunity that our readers need to be aware of.

So far this year, Tryp has been executing on previously announced growth initiatives and the story has made substantial advancements.

TRYP Is Putting Together World-Class Human Capital

By hiring best-in-class management and drug development expertise,  considered to be experts in their respective field, Tryp is putting together an all-star leadership team and we continue to view this as the most important aspect of the story. By adding strategic human capital to the team, Tryp is increasing the total addressable market (TAM) that is associated with the PFN Program and we are closely following this aspect of the story.

Last week, Tryp reported a major development on the human capital side of the business and reported to have executed an advisory agreement with Dr. Joel Castellanos to join its Scientific Advisory Board. He is a chronic pain physician at UC San Diego Medical Center and will guide the clinical development of TRP-8802 for neuropathic pain indications.

This is a major indication for Tryp and we are favorable on the human capital that is associated with the study. Dr. Castellanos is considered to be a leading physical pain physician and is expected to play an important role in how Tryp can treat neuropathic pain. The indication that Tryp is focused on with Dr. Castellanos are particularly challenging to treat with current available therapies and are bullish on the potential that is associated with a better treatment.

Commences Collaboration with the University of Florida

Earlier this week, Tryp reported an important development as it relates to the clinical trial side of the business and commenced a collaboration with Dr. Jennifer Miller of the University of Florida as the Principal Investigator for a clinical trial to treat the symptoms associated with eating disorders.

Currently, there are no approved drugs and only limited options to treat patients with rare over-eating disorders. The study will use psilocybin as a new paradigm to treat symptoms associated with these disorders and we are favorable on the size of the market. Tryp and Dr. Miller are in the process of designing a Phase 2a open-label, exploratory clinical study that utilizes TRP-8802 in patients who are suffering from rare and orphan over-eating disorders.

Dr. Miller is a Professor in the division of pediatric endocrinology at University of Florida. We consider the relationship with her to be an attractive aspect of the Tryp story and believe the study could prove to be transformational for the psychedelic therapy market. Dr. Miller specializes in the care and treatment of individuals with Prader-Willi syndrome and other genetic causes of early-onset excessive weight gain. We are favorable on the expertise that she adds to the organization and will monitor how this study progresses.

Attracts a Strategic Lead Order in a $2 Million Private Placement

Earlier this month, Tryp reported to have received a strategic investment from Marc Lustig who was the founder and former Chairman of Origin House. His investment was the lead order in a non-brokered private placement of up to $2 million worth units and we are favorable on his involvement in the operation. Based on his success with Orgin House, Lustig adds credibility as well as an endorsement to the operation. We expect his proven track record of success in highly regulated industries to be beneficial to executing on Tryp’s vision and are favorable on this aspect of the story.

Tryp plans to use the proceeds from the private placement offer to advance its research and development (R&D) programs and for general working capital purposes. We expect the capital to play a crucial role in Tryp’s psilocybin-for-neuropsychiatric disorders (PFN™) program and will monitor how the management team is able to use the proceeds to grow the business.

We consider the PFN Program to be a key aspect of Tryp’s long-term opportunity as well as an important differentiator for the business. The program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of certain neuropsychiatric-based disorders and we are favorable on the direction the business is heading.

Growing Through the Formation of Strategic Partnerships

On a comparative basis, there are not many companies in the psychedelic therapy market that have executed as strategically as Tryp. By initially focusing on acquiring strategic intellectual property (IP) and hiring world-class executives, the company has created a platform that has substantial growth prospects, and we believe the market is missing out on something with the story.

Going forward, we believe Tryp is well positioned to execute on several key growth initiatives and believe that our readers need to be aware of this aspect of the story. We are most executed about the agreement that it has with Albany Molecular Research Inc. (AMRI). Under the agreement, AMRI will provide R&D capabilities as well as Current Good Manufacturing Practice (cGMP) manufacturing of a proprietary psilocybin active pharmaceutical ingredient (API) to support the clinical development of TRP-8802, TRP-8803 and TRP-8804 programs.

The relationship was formed in late 2020 and we consider it to be a key pillar of the story. AMRI is considered to be a leading global contract research, development and manufacturing organization. AMRI tends to partner with emerging pharmaceutical and biotech firms to try to help develop treatments that would improve quality of life for patients. In regards to the relationship with AMRI, we believe that it provides Tryp with significant long-term growth prospects and are favorable on the potential synergies that are associated with it.

AMRI is led by a management team that combines scientific expertise and state-of-the-art technology to provide a comprehensive suite of solutions in discovery, development, analytical services, and API and drug product manufacturing. AMRI will act as Tryp’s US based API supplier and will play a key role in supporting its neuropsychiatric programs and with advancing its rapid clinical development strategy.

By working with AMRI, Tryp will be able to create additional IP that is centered around the manufacture and the use of its proprietary psilocybin API. As part of the agreement, AMRI will leverage its core expertise in process development and cGMP manufacturing to help advance Tryp’s clinical pipeline.

An Emerging Growth Story that With Substantial Upside Potential

From a valuation standpoint, Tryp is trading at a considerable discount to its peers and we find the risk-reward profile to be favorable. Once the company closes the financing agreement, it will be well positioned to execute on core growth projects and we expect this to serve as a substantial catalyst for growth.

When compared to Compass or MindMed, Tryp has a substantially lower valuation and believe that the market does not full appreciate the relationship with AMRI. Tryp is executing on a strategy that could make it one of the world’s largest psychedelic therapy companies and will be keeping a close eye on the opportunity.

Tryp is a clinical stage drug development company that is led by a management team who has extensive drug development experience. The company is advancing transformative medicines that have existing clinical data and known safety profiles for diseases that do not have an effective treatments.

Tryp is executing on a multi-faceted growth strategy and is creating a diversified portfolio of product candidates that target certain neuropsychiatric and oncology indications. We believe the market is discounting the long-term value that is associated with a platform of this nature and consider this to be a key aspect of Tryp’s value proposition.

If you are interested in learning more about Tryp Therapeutics, please send an email to support@mushroomstocks.com with the subject “Tryp Therapeutics” to be added to our distribution list.

 

 

 

 

 

 

 

 

 

 

 

 

 

Pursuant to an agreement between StoneBridge Partners LLC and Tryp Therapeutics Inc. we have been hired for a period of 180 days beginning January 1, 2020 and ending July 1, 2021 to publicly disseminate information about (TRYP) including on the Website and other media including Facebook and Twitter. We are being paid $7,500 per month (TYRP) for or were paid “0” shares of restricted common shares. We own zero shares of (TRYP), which we purchased in the open market. We plan to sell the “ZERO” shares of (TRYP) that we hold during the time the Website and/or Facebook and Twitter Information recommends that investors or visitors to the website purchase without further notice to you. We may buy or sell additional shares of (TRYPw) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.

 

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Authored By

Michael Berger

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