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During the last month, the psychedelic market has been trending up which we contribute to a number of catalysts that have grabbed the market’s attention. Compass Pathways (Nasdaq:CMPS) going public has bringing brought mainstream awareness to the sector. We see Compass as a bellwether drawing institutional interest into the sector and bringing validation like what Canopy Growth Corp. did in the cannabis sector. Field Trip Health and Mind Med are two other biotech companies helping lift the sector.
Tryp Therapeutics is a company that recently came on our radar and we believe that it represents a differentiated growth opportunity due to the focus of the business and the quality of the management team in place who have created billions of dollars of value for shareholders over their careers. Something you don’t see often with small cap companies.
Tryp Therapeutics is a clinical stage drug development company that is focused on the benefits of Psilocybin to bring transformative medicines to market and we are favorable on how the story has advanced so far this year. Going forward, we expect to see increased interest in Tryp Therapeutics and wanted to provide an update on the opportunity.
At the helm of the operation is Chief Executive Officer James Kuo and the track record he brings from the biotech industry. James has a proven track record of success as it relates to bringing FDA approved drugs to market. He lead the team at Pfizer that licensed Lipitor and brought that drug to market, which still to this day is the highest grossing drug Pfizer. After Pfizer, Jim was the CEO of BioMicro Systems and Discovery Laboratories which trades on the NASDAQ. Currently, he also serves as the Chairman of the Board of ImmunoPrecise Antibodies (TSXV:IPA) and has built an impressive track record of building profitable, public biotech & pharma companies, we feel is very unique in the psychedelic sector.
Tryp is focused on the development of treatments that utilize psilocybin to help people who suffer from severe illnesses like Fibromayalgia and various eating disorders which have large total addressable markets (TAM), currently have a clear unmet clinical need from what therapies are on the market, and are areas of interest to Big Pharma. Tryp is developing research on psilocybin for on their Pilocybin-For-Neuropsychiactric Disease (PFN™) Program initially focused on Fibromayalgia:
- TRP-8802 – Focused on treating Fibromyalgia which is a chronic central nervous system and neurobiological disorder which X number of people around the world suffer from. The current
Over the next year, Tryp Therapeutics plans to build on its established intellectual property (IP) portfolio, and this is an important aspect of the story. We believe that the company will benefit from the experience of the management team that has focused on developing a diversified pipeline of differentiated product candidates.
From a human capital standpoint, we believe that Tryp stands out when compared to its peers. The company is led by a world class biotechnology and pharmaceutical team and is uniquely positioned to pursue novel therapeutics and psychedelic compounds.
We believe that Tryp possesses the necessary traits to be a leader in the psychedelics industry and separate themselves from most of their peers over the next year. From capital markets to clinical trials, the management is composed of individuals that bring important expertise to the business.
If you are interested in learning more about Tryp Therapeutics, please send an email to support@technical420.com to be added to our distribution list.
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