Following his appointment to the Board of Directors in January, Tryp Therapeutics has now appointed Greg McKee as Executive Chairman.
McKee has a great deal of experience in the biotech industry and associated capital markets, which bears resemblance to the nascent psychedelics space.
Among his prior appointments, McKee was CEO of a Californian startup accelerator with a life sciences and tech focus; CEO at Nventa Biopharmaceuticals, and at Akela Pharma following its merger; and, founder of an early-stage digital health and medtech venture fund, Torrent Ventures.
Full release below…
La Jolla, California–(Newsfile Corp. – February 3, 2021) – Tryp Therapeutics (CSE: TRYP) (“Tryp”), a leading pharmaceutical company focused on identifying and developing clinical-stage compounds for diseases with high unmet medical needs, needs is pleased to announce the appointment of Greg McKee as Executive Chairman.
Mr. McKee joined the Board in January of 2021 and brings more than 20 years of biotechnology, life sciences management and venture investment experience to the company.
“We believe Greg has been an invaluable addition to the Board and is well positioned to drive Tryp as we enter our next phase of rapid development,” stated William Garner, M.D., Founder and Executive Director. “Greg’s commercial and capital markets experience in the biotechnology industry are critical elements for us as we drive to improve patient lives and increase shareholder value at Tryp.”
In connection with his appointment, Mr. McKee has been granted an aggregate of 2,000,000 stock options (the “Options“). The Options have an exercise price of $0.70 per share, are exercisable until January 13, 2031 and will be governed in accordance with the terms of the Company’s stock option plan.
About Tryp Therapeutics:
Tryp Therapeutics is a pharmaceutical company focused on developing compounds with known activity and/or safety profiles for the treatment of rare diseases and other diseases with high unmet medical needs. Tryp’s psilocybin-for-neuropsychiatric disorders, or PFN™, program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of certain neuropsychiatric-based disorders. Tryp’s lead PFN™ drug candidate is TRP-8802 for the treatment of fibromyalgia, a chronic pain syndrome estimated to affect more than 5 million people in the United States; and, rare over-eating disorders.
In addition to its PFN™ Program, Tryp is developing TRP-1001, an oral formulation of razoxane for the treatment of soft tissue sarcoma. Soft tissue sarcomas are a rare and diverse group of tumors that account for about 1% of all cancers in adults and 7% in children. Based on the prevalence of soft tissue sarcomas in the United States, Tryp believes it is a rare disease and that TRP-1001 should qualify for Orphan Drug status.
For inquiries, please contact us at:
TRYP Investor Relations
T: 1-833-811-TRYP (8797)
Certain information in this news release, including statements relating to the anticipated date that the Common Shares will commence trading on the Canadian Securities Exchange 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.
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