Tryp Therapeutics has appointed Dr. William K. Schmidt to their Scientific Advisory Board. Schmidt has over thirty years of experience in pain medicine pharmaceutical development, making him an important advisor to the company, given Tryp’s work on harnessing their TRP-8802 drug candidate for indications such as fibromyalgia. The debilitating condition, which causes pain to be felt all over the body, is the lead indication in the company’s Psilocybin-for-Neuropsychiatric Disorders (PFN) program.
Schmidt explained that there is much need for novel therapies for fibromyalgia. At current, approximately a third of fibromyalgia patients use opioids due to the insufficient pain relief provided by existing medications. He went on to explain: “based on my experience with the NIH’s Opioid Crisis task force, developing safer and more effective drugs for treating chronic pain is a national priority of the highest urgency.”
Learn more about the company on Tryp Therapeutics’ Company Profile.
Full News Release…
La Jolla, California–(Newsfile Corp. – January 7, 2021) – Tryp Therapeutics (CSE: TRYP) (“Tryp” or the “Company”) a pharmaceutical company focused on identifying and developing clinical-stage compounds for diseases with high unmet medical needs, announced today it has appointed Dr. William K. Schmidt, a noted authority in the development of pain drugs, as a Scientific Advisory Board member. Dr. Schmidt, will aid Tryp in the development of its product candidate TRP-8802 for fibromyalgia and other chronic pain conditions.
“I’m really pleased to be able to work with a company that is developing a new therapy for fibromyalgia, which is much needed”, said Dr. Schmidt. “Based on my experience with the NIH’s Opioid Crisis task force, developing safer and more effective drugs for treating chronic pain is a national priority of the highest urgency. About 30% of fibromyalgia patients use opioids because existing medications don’t deliver sufficient pain relief.”
“We are thrilled to have Bill join our Scientific Advisory Board”, stated Dr. Jim Kuo, CEO. “I have worked with him on other pain programs and can personally attest to his regulatory and clinical trial expertise.”
Dr. William K. Schmidt serves as an expert on pain medicine pharmaceutical development with pharmaceutical and biotech companies throughout North America, Europe, Asia, Latin America, and Australia. He currently sits on the Scientific or Medical Advisory Boards of 5 biotech companies. He is the Parliamentarian and a Past-President of the Eastern Pain Association. Dr. Schmidt has received many awards throughout his career including the John J. Bonica award for the development of new analgesics and for his sustained contributions to the educational efforts of the Eastern Pain Association in 2014. He is the co-editor of “Pain: Current Understanding, Emerging, Therapies, and Novel Approaches to Drug Discovery” (Marcel Dekker, 2003). He joined DuPont Pharmaceuticals (later the DuPont Merck Pharmaceutical Company) where he helped to develop nalbuphine (Nubain®), naltrexone (Trexan®, ReVia®) and the oxycodone-ibuprofen formulation used in Combunox™. He also led the clinical teams in the development of Entereg® (alvimopan) and Acelex® (polmacoxib). Dr. Schmidt continues to chair the annual Arrowhead Pain Summit (2010-2021) and the Pharmaceutical Roundtable / Innovations in Pain Research for the Eastern Pain Association (2003-2021).
Dr. Schmidt received his Ph.D. in Pharmacology from the University of California, San Francisco. Following his postdoctoral fellowship at Boston University School of Medicine.
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.
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.
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