Tryp Therapeutics Strengthens Board of Directors with Appointment of Chris Ntoumenopoulos as Independent Director

Industry leader Chris Ntoumenopoulos to support biotech Company's mission to advance the delivery of psychedelic medicines

SAN DIEGO, May 25, 2022 /PRNewswire/ -- 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, announced today the appointment of Chris Ntoumenopoulos to the Company's Board of Directors.

"Chris is a seasoned, mission-driven advisor who supports organizations to excel beyond development and commercialization challenges," said Jim Gilligan, Interim CEO and Chief Scientific Officer, Tryp Therapeutics. "He brings both financial and biotech experience as well as a global perspective to the Tryp team. His appointment is a milestone in Tryp's growth strategy and mission to fulfill the vast demand for innovative health solutions for underserved indications."

Ntoumenopoulos comes to Tryp with extensive experience in financial markets both in raising capital and corporate strategy. He currently serves as the Managing Director at 21 Corporate, an Australia-based Corporate Advisory firm which provides funding and corporate support for innovative companies and technologies. In addition, Ntoumenopoulos is a strategic investment adviser at Freeman Road, an investment group specializing in health and early-stage MedTech companies. Ntoumenopoulos also serves as Director of ResApp Diagnostics (RAP), a respiratory diagnostic company focusing on digital medicine, and as Director of ASX listed Race Oncology (RAC).

Ntoumenopoulos said, "Millions of individuals suffering from various forms of mental illness are in dire need of efficacious treatment alternatives, and Tryp is forging new ground with its tactical clinical approach. I look forward to collaborating with the team to further develop our novel drug pipeline and bring to market critical solutions to patients in need."

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.

Investor Relations:
Jim Gilligan, Interim CEO
Tryp Therapeutics
[email protected]

Media Relations:
Francesca DeMauro
KCSA Strategic Communications
[email protected]

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.

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SOURCE Tryp Therapeutics/KCSA