KELOWNA, British Columbia, Sept. 13, 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 the retention of IMS Investor Relations (“IMS”) effective August 15, 2022. IMS will provide capital markets consulting, corporate communications and strategic investor outreach.
Jim Gilligan, Chief Executive Officer of Tryp Therapeutics, commented, “We have made tremendous progress advancing our drug development strategy focused on attractive under-addressed indications such as eating disorders and chronic pain, and we expect to achieve multiple key strategic milestones in the second half of 2022 and into 2023. IMS Investor Relations is a well-regarded firm, and we look forward to working with them to ensure that we are proactively and productively communicating our progress to Wall Street.”
John Nesbett, Founder and President of IMS Investor Relations, commented, “Tryp Therapeutics is at an exciting time in their development as they continue to progress through the clinical trial process and file patents for their potentially revolutionary IP. We are pleased to partner with a company that has such a highly experienced and capable management team with a proven track record of success in the biotech space, a world-class scientific advisory board, and a potentially transformative product. We look forward to leveraging our expertise to convey Tryp’s value to investors.”
IMS will work closely with Tryp management to develop and deploy a strategic capital markets program. Initiatives are expected to include but are not limited to: refining overall company and investment-oriented messaging, ongoing strategic advise, and arranging introductions to investors and analysts in the financial community.
About IMS Investor Relations
IMS Investor Relations (www.imsinvestorrelations.com) helps small to mid-sized public companies ensure their public listing is a vital strategic asset with a credible and resonating brand, aligned shareholders and a valuation reflective of the long-term value of the business. IMS was founded to shine a much-needed light on microcap to mid-cap companies, a sector that is often misunderstood, underfollowed and undervalued by Wall Street. The firm’s vast expertise in this space, trusted reputation and extensive relationships with analysts, institutional investors, family offices and brokers opens doors often kept closed to others. IMS prides itself on its longstanding client relationships due to its ability to understand its clients’ needs and its agility in addressing the challenges of today’s ever evolving financial landscape. In consideration for the services provided, Tryp has agreed to pay IMS an initial monthly retainer fee of $8,000, which commenced on August 15, 2022. Tryp’s engagement of IMS is on a month-to-month basis and can be terminated by either party upon 30 days prior written notice. IMS has no interest, directly or indirectly, in the Company or its securities, and has no current right or intent to acquire such an interest during the term of the engagement.
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.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contact Information
John Nesbett/Jennifer Belodeau
IMS Investor Relations
51 Locust Avenue, New Canaan, CT
tryp@imsinvestorrelations.com
203.972.9200
