- Tryp Therapeutics is a pharmaceutical developer working to produce novel bioscience solutions, including a synthetic psychedelic drug candidate for treating some chronic pain and eating disorders
- Tryp CEO Greg McKee appeared on the Entrepreneur Magazine podcast “Action and Ambition” earlier this month to discuss lessons learned on his road to success and to highlight the company’s purpose in developing treatments for helping people be more whole
- Psychedelic drug therapies have been developing a growing fanbase, highlighted by California state Sen. Scott Wiener’s legislation this year seeking to decriminalize hallucinogenics
- McKee noted that many military personnel are using psychedelics in an effort to “reset” themselves following combat duty-related traumas, such as PTSD and phantom limb pain
The “Back to the Future” movie series mined comedic outcomes of time travel in its adventures, but the bioscience pharmaceutical developers at Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF) are entirely serious in their efforts to bring back for future use psychedelic substances that once were used for varying purposes ranging from religious healing to recreational adventurism.
“Obviously, psychedelics have been around for a long time,” Tryp CEO Greg McKee said during a podcast episode this month for Entrepreneur Magazine’s “Action and Ambition” show, which invites successful business executives to share their stories and lessons learned on the road to success (https://ibn.fm/DpiHh).
“[Psychedelics] were used recreationally years back,” McKee continued. “Johns Hopkins has done a pilot work clinically to show that there’s activity in [using them to treat] depression and PTSD and there’s a lot of other academic institutions that are showing there’s probably activity and potentially utility in a whole bunch of other areas like neuropathic pain and eating disorders for example, right? So there’s probably…seven to 10-plus different therapeutic indications.”
Tryp was founded in 2019 and is making a name for itself by mining the barely emerging psychedelics-for-medicinal-purposes sector of the lifestyle and wellness market as it advances two potential drug platforms — the mushroom-based psychedelic psilocybin for treating fibromyalgia, eating disorders and chronic pain conditions; and the cancerous tumor-inhibiting drug razoxane for treating soft tissue sarcomas.
Tryp’s psilocybin product is a synthetic drug candidate named TRP-8802, administered orally. A 2018 study funded by the Heffter Research Institute and published in Science Direct found that there is low abuse and no physical dependence potential for psilocybin when used medicinally, concluding that the federal drug classification for it should be reduced from Schedule I to “no more restrictively than Schedule IV” (https://ibn.fm/40tss).
Efforts to legalize psychedelic therapeutics along the same legislative pathway taken by cannabis advocates have found a growing number of supporters in recent years, including California state Sen. Scott Wiener, who has introduced a bill this year that would decriminalize select hallucinogens, including psilocybin (https://ibn.fm/ukONR).
McKee told podcast host Phillip Lanos that one of his first introductions to the potential benefits of psychedelics arose from his acquaintance with some Navy Seals in Southern California who use 5-MeO-DMT (5-methoxy-N,N-dimethyltryptamine), also known as O-methyl-bufotenin (https://ibn.fm/8bkWO).
“And they swear by it,” McKee said, noting many military personnel in the area suffer from combat-related traumas and use the psychedelic for “a reset.”
McKee said that his company’s formulation is different from 5-MeO-DMT but regardless of the chemical makeup, his hope is that psychedelics with potential therapeutic uses can end of gaining more mainstream use.
“I’m really excited,” he told Lanos. “Anything that we can do…to enhance performance, or to take away pain, get people to reach their potential, I think it’s incredible and that’s one of the great things we can do in the biotech space.”
For more information, visit the company’s website at www.TrypTherapeutics.com.
NOTE TO INVESTORS: The latest news and updates relating to TRYPF are available in the company’s newsroom at https://ibn.fm/TRYPF