Mr. Peter Molloy reports

WITH GREAT SADNESS TRYP ANNOUNCES THE PASSING OF DAVID TOUSLEY, DIRECTOR

David Tousley, director of Tryp Therapeutics Inc. and chair of Tryp's audit committee, has passed away. Mr. Tousley was a highly experienced director who provided the board with consistent, sage advice. His input was always well reasoned and practical on issues brought to the board. He worked tirelessly on behalf of Tryp and was always available for discussions on many detailed matters. The company will miss both his commentary and humour. The company is deeply saddened by the loss of a dear colleague and friend, and Tryp offers its sincerest condolences to his family.

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 intravenous-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 time frame. The company has initiated a phase 2a clinical trial for the treatment of binge eating disorder at the University of Florida, where an interim analysis showed an average reduction in binge eating episodes of greater than 80 per cent. The company is also planning for phase 2a clinical trials with the University of Michigan for the treatment of fibromyalgia and with Mass General Hospital for the treatment of abdominal pain related to irritable bowel syndrome. Each of the studies are utilizing TRP-8802 (synthetic, oral psilocybin) to demonstrate efficacy in these indications. Where a preliminary clinical benefit is demonstrated, subsequent studies are expected to utilize TRP-8803 (IV-infused psilocin), which has the potential to further improve efficacy, safety and patient experience.

We seek Safe Harbor.