Tryp Therapeutics Announces Poster Presentations on the Reduction of Chronic Pain in a Rodent Model with Psilocybin and Intravenous Psilocybin Alters Brain Network Dynamics in Rats at the 2022 Society for Neuroscience Conference

KELOWNA, British Columbia, Nov. 10, 2022 (GLOBE NEWSWIRE) — Tryp Therapeutics, Inc. (CSE: TRYP) (OTCQB: TRYPF) (“Tryp” or the “Company“), a clinical-stage biotechnology company focused on developing psilocybin-based compounds for diseases with unmet medical needs, today announced that the Company’s collaborators from the University of Michigan will present two scientific posters in the upcoming Society for Neuroscience (SfN) Conference, to be held from November 12-16, 2022 in San Diego.

Details of the poster presentations are as follows:

Title: Psilocybin Attenuates Mechanical Allodynia and Thermal Hyperalgesia in a Rodent Model of Formalin-Induced Chronic Pain
Presenting Author: Dr Nick Kolbman, University of Michigan
Co-authors: B. H. Silverstein,^1, T. Liu,¹ P. Guzzo,² J. P. Gilligan,² G. A. Mashour,^1, G. Vanini,¹ D. Pal¹
(¹ University of Michigan, ² Tryp Therapeutics)

The study results demonstrated that a single intravenous dose of psilocybin can attenuate mechanical allodynia and thermal hyperalgesia for up to 4 weeks post dose.

Title: Intravenous Psilocybin Alters Brain Network Dynamics in Rats
Presenting Authors: B.H. Silverman, University of Michigan
Co-authors: N. Koblman1,2,3, T. Liu1, P. Guzzo6, J. Gilligan6, G. A. Mashour1,2,3,4, G. Vanini 1,2,4, D. Pal1,2,4,5;
(1Dept. of Anesthesiol., 2Ctr. for Consciousness Sci., 3Dept. of Pharmacol., 4Neurosci. Grad. Program, 5Dept. of Mol. & Integrative Physiol., Univ. of Michigan, Ann Arbor, MI; 6Tryp Therapeut.)

This study demonstrated a change in EEG recordings in rats receiving an IV infusion of psilocybin coincident with achieving the psychedelic state.

Jim Gilligan, Chief Executive Officer, stated, “We are excited our collaborators at the University of Michigan are presenting the results of our two recent studies. The first study explored intravenous psilocybin and its effect in a recognized rat model of fibromyalgia. This model exhibits increased sensitivity to touch and hypersensitivity to elevated temperatures. Administration of a single intravenous infusion of psilocybin resulted in a decrease in both pain and heat sensitivity persisting until the end of the study (28 days). Tryp is the first company to pursue the use of psychedelics in nociplastic pain indications including fibromyalgia. These results support the potential clinical utility of psilocybin assisted therapy in the treatment of patients with fibromyalgia.

“The second study demonstrated a change in EEG recordings coincident with achieving the psychedelic state. Rats received a continuous intravenous infusion of psilocybin over a period of 60 minutes while EEG data were simultaneously monitored. The results demonstrate the ability to detect changes in EEG patterns coincident with attaining the psychedelic state. In addition, upon cessation of the infusion a return to baseline EEG patterns correlated with decreasing blood levels of psilocin. This study will help facilitate Tryp’s program to utilize EEG recordings to optimize dose and infusion rates of TRP-8803 (IV psilocin) in planned upcoming clinical trials.”

About Tryp Therapeutics

Tryp Therapeutics is a clinical-stage biotechnology company focused on developing psilocybin-related molecules, including TRP-8803, for the treatment of diseases with unmet medical needs through accelerated regulatory pathways. Tryp’s Psilocybin-For-Neuropsychiatric Disorders (PFN™) program is focused on the development of synthetic psilocybin-related molecules as a new class of drug for the treatment of binge eating, chronic pain, and other indications. The Company has begun enrolling patients in its Phase II trial for the treatment of binge eating disorder at the University of Florida and recently announced an upcoming Phase IIa clinical trial with the University of Michigan to evaluate TRP-8802 for fibromyalgia. TRP-8803 is a proprietary psilocybin-based product that uses a novel formulation and route of administration to potentially improve efficacy, safety and the patient experience. For more information, please visit www.tryptherapeutics.com.

Forward-Looking Information

Certain information in this news release 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.

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Contact Information
John Nesbett/Jennifer Belodeau
IMS Investor Relations
51 Locust Avenue, New Canaan, CT
tryp@imsinvestorrelations.com
203.972.9200