Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF), a pioneering clinical-stage biotechnology company focused on developing intravenous-infused psilocin (the active metabolite of psilocybin) for diseases with high unmet medical needs, announced that company shareholders approved an announced arrangement involving the company and Exopharm Limited CAN 163 765 991. Tryp securityholders approved the arrangement during the company’s annual general and special meeting, which was held earlier this month on March 8, 2024. In addition, the company announced that the Supreme Court of British Columbia also issued its approval of the arrangement. “The special resolution approving the arrangement was required to be approved by at least two-thirds of the votes cast by: (i) the company’s shareholders and (ii) the company’s shareholders, option holders and the holders of certain warrants, voting as a class,” the announcement stated. “A total of 37,738,906 common shares of Tryp were voted at the meeting, representing approximately 39.14% of the common shares entitled to be voted at the meeting. Approximately 99.92% of the votes cast by Tryp shareholders were in favor of the arrangement resolution. All other matters to be determined at the meeting also passed by similar overwhelming majorities of votes cast.”
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About Tryp Therapeutics Inc.
Tryp Therapeutics is a clinical-stage biotechnology company focused on developing proprietary, novel formulations for the administration of psilocin in combination with psychotherapy to treat diseases with unmet medical needs. Tryp’s lead program, TRP-8803, is a proprietary formulation of IV-infused psilocin (the active metabolite of psilocybin) that alleviates numerous shortcomings of oral psilocybin including significantly reducing the time to onset of the psychedelic state, controlling the depth and duration of the psychedelic experience, and reducing the overall duration of the intervention to a commercially feasible timeframe. The company has completed a phase 2a clinical trial for the treatment of binge-eating disorder at the University of Florida, which demonstrated an average reduction in binge-eating episodes of greater than 80%. The company has also recently announced commencement of patient dosing in a phase 2a clinical trial for the treatment of fibromyalgia in collaboration with the University of Michigan and is preparing to initiate a phase 2a clinical trial in collaboration with Massachusetts General Hospital for the treatment of abdominal pain and visceral tenderness in patients suffering from irritable bowel syndrome. Each of the studies is utilizing TRP-8802 (synthetic oral psilocybin) to demonstrate clinical benefit in these indications. Where a positive clinical benefit has been demonstrated, subsequent studies are expected to utilize TRP-8803 (IV-infused psilocin), which has the potential to further improve efficacy, safety and patient experience. For more information about the company, please visit 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
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