Pharmaceutical company focusing on developing psilocybin-based compounds for the treatment of orphan diseases and other diseases with high unmet medical needs Tryp Therapeutics Inc. (CNSX: TRYP) announced having been granted approval by the U.S Food and Drug Administration (FDA) allowing the company to go ahead with a Phase 2a clinical trial in which it’s evaluating use of synthetic psilocybin to treat binge eating disorder.
Back in October, the FDA put on hold a research by Tryp Therapeutics thereafter, FDA lifted it after the company submitted an amendment for its Investigational New Drug (IND) application to the agency.
The company’s chairman and chief executive officer, Greg McKee welcomed this approval from the FDA further adding that they will be progressing with the study in partnership with the University of Florida.
“We are excited to move forward with our Phase 2a clinical trial in binge eating disorder through our partnership with the University of Florida. Our dialogue with the FDA has been productive and has meaningfully improved the design of this study. This represents the second clinical study in 2021 that we have received authorization from the FDA to initiate,” said the CEO.