NetworkNewsWire Newsroom: April 2021

Friday, April 30, 2021

Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) Is ‘One to Watch’

Tryp Therapeutics is a pharmaceutical company with a focus on developing clinical-stage compounds for diseases with high unmet medical needs through accelerated regulatory pathways
The company currently has two drug candidates in development: TRP-8802 (targeting fibromyalgia, eating disorders and chronic pain conditions); and TRP-1001 (targeting soft tissue sarcomas)
Through its PFN(TM) program, the company is focused on developing psilocybin-based drug therapies for certain neuropsychiatric disorders that offer increased efficacy and reduced risk of abuse or addiction
The company’s management team has decades of experience in the life sciences industry, including the pharmaceutical and biotechnology markets
Oncology therapeutics are expected to account for roughly 30% of all drug sales by 2024, representing a total market valued at approximately $200 billion

Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF) is a pharmaceutical company focused on developing clinical-stage compounds for diseases with high unmet medical needs through accelerated regulatory pathways.

The company was founded in 2019 and is headquartered in San Diego, California.

Innovative Drug Pipeline

Tryp’s current focus is on advancing its two drug development platforms: its Psilocybin-for-Neuropsychiatric Disorders (PFN(TM)) program targeting fibromyalgia, eating disorders and chronic pain conditions; and razoxane for soft tissue sarcomas. The company intends to explore opportunities to monetize these platforms after generating Phase 2b clinical data.

The company’s development plans cover three strategic initiatives:

Develop: Tryp intends to utilize the FDA’s 505(b)(2) regulatory pathway with available third-party preclinical data to shorten the timelines and lower the cost of its development programs.
Protect: Tryp plans to utilize regulatory exclusivity, patents, trade secrets and proprietary know-how to protect the commercial lifespan of its drug candidates.
Monetize: Tryp intends to seek out licensing, acquisition and co-development opportunities for drug candidates following their Phase 2 stages of development.

PFN(TM) Program

Through its PFN(TM) program, the company is focused on developing psilocybin-based drug therapies for certain neuropsychiatric disorders that have distinct advantages over other drugs currently on the market or in development. These advantages include:

Increased efficacy
Natural blood-brain barrier penetration
Enhanced safety and toxicity profiles
Reduced risk of abuse
Reduced risk of addiction

Tryp’s PFN(TM) program features its lead drug candidate, TRP-8802. The company’s initial indication for TRP-8802 is fibromyalgia.

Fibromyalgia is believed to be a neurosensory disorder characterized in part by abnormalities in pain processing by the central nervous system. The three drugs with FDA approval for the treatment of fibromyalgia are Pregabalin (Lyrica(R)), Duloxetine (Cymbalta(R)) and Milnacipran (Savella(R)), which are only effective for a portion of patients suffering from the condition.

Tryp plans to seek FDA approval to proceed directly to Phase 2 clinical trials evaluating TRP-8802 as a treatment for fibromyalgia based on existing preclinical and clinical data for the active pharmaceutical ingredients in TRP-8802.

Tryp’s pipeline of indications for TRP-8802 also includes eating disorders and certain forms of chronic pain. The company expects to initiate Phase 2a clinical trials in these areas in 2021.

Tryp recently partnered with Albany Molecular Research Inc. (“AMRI”) for the manufacture of the company’s synthetic psilocybin using proprietary methods. AMRI has initiated the process of manufacturing a 200g non-GMP demonstration batch of psilocybin and will produce a batch of GMP psilocybin in mid-2021. As the holder of the Drug Master File, Tryp expects to be the only U.S.-based manufacturer of synthetic psilocybin in the industry.

Razoxane

Tryp’s second drug candidate, TRP-1001 (razoxane), is being developed as a treatment for soft tissue sarcomas and has been evaluated in multiple Phase 2 clinical trials conducted by clinicians unaffiliated with Tryp. The company believes that existing clinical data regarding razoxane will likely allow TRP-1001 to be studied in a Phase 2 trial without the need for extensive preclinical or Phase 1 trials.

Sarcomas are rare tumors that are derived from connective tissues in the body and comprise 7% of all cancers in children. In 2018, an estimated 13,000 new cases of soft tissue sarcoma were diagnosed, with the tumors resulting in over 5,000 deaths during that year in the United States alone (https://nnw.fm/JgVa6).

Market Outlook

With its drug development programs targeting multiple indications, Tryp is well positioned to capitalize on growth opportunities spanning a range of therapeutic markets. The global oncology drugs market, in particular, represents a sizable opportunity.

In 2018, oncology indications accounted for 25% of all drug sales, representing approximately $151 billion in market revenues. By 2024, spending on oncology-targeted therapeutics is expected to top $200 billion and account for roughly 30% of total drug sales, according to a study by Cowen Equity Research (https://nnw.fm/DOVBU).

Valued at $764 million in 2020, the global fibromyalgia treatment market presents unique opportunities for development due to the limited number of approved therapies. With treatment trending upward, the market is expected to grow at a CAGR of 9.2% and reach $1.4 billion in value by 2027 (https://nnw.fm/MUwdi).

Management Team

Greg McKee is the Chairman and CEO of Tryp Therapeutics. He has more than 20 years of life sciences management and venture investment experience that he brings to the company. Before taking his role at Tryp, he was the founder of Torrent Ventures, an early-stage digital health and medical technology venture fund. Mr. McKee also served as the CEO of CONNECT, the largest Southern California start-up accelerator. Before this, he was the chairman, president and CEO of then publicly traded Nventa Biopharmaceuticals, which successfully merged with Akela Pharma. Mr. McKee earned a B.A. in Economics from the University of Washington, an M.A. in International Studies from The Joseph H. Lauder Institute, and an MBA from the Wharton School at the University of Pennsylvania. He has been a member of the Young President’s Organization (“YPO”) since 2006.

James Gilligan, Ph.D., is the company’s President and Chief Science Officer. He has over 35 years of experience in the life sciences industry, including research and development, clinical development, international regulatory affairs and manufacturing. Before joining Tryp, Dr. Gilligan was the Co-Founder and Managing Partner of The Bracken Group, a life sciences consulting firm. He was also the Co-Founder of Unigene Laboratories, which develops technology for the recombinant manufacture of peptide hormones. Dr. Gilligan received his Ph.D. in Pharmacology from the University of Connecticut and a MSIB from Seton Hall University. He continued his post-graduate education at the Roche Institute of Molecular Biology.

Tom D’Orazio is the Chief Operating Officer of Tryp Therapeutics. He has extensive experience in leading the development and commercialization of vaccines, drugs, radiopharmaceuticals and biologics. His prior leadership experience has been in commercial planning, marketing, partnership and business development roles. He was formerly the CEO of ImmunoPrecise Antibodies Ltd. (NASDAQ: IPA), where he led the transition from a private company to a public one. He co-founded and served as CEO of Superna Life Sciences, a specialty-pharma company focusing on niche drugs for cancer patients in Canada. Mr. D’Orazio has an MBA from Vanderbilt University with a primary focus in both finance and marketing and a B.Sc. in chemistry from Loyola University of Chicago.

Luke Hayes is the company’s Chief Financial Officer. He has played an active role in the life science industry for over 20 years with technology transfer, venture capital and finance experience. His career started with business development for Dow Chemical (NYSE: DOW), with responsibility for pharmaceutical customers such as Eli Lilly and AbbVie. Mr. Hayes has spent more than a decade doing venture capital investing while supporting companies as a director and advisor. He earned a B.S. in Chemical Engineering from Brigham Young University and an MBA from the UCLA Anderson School of Management.

For more information, visit the company’s website at www.TrypTherapeutics.com.

NOTE TO INVESTORS: The latest news and updates relating to TRYPF are available in the company’s newsroom at https://nnw.fm/TRYPF

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United Medical Equipment Business Solutions Network Inc. Provides Solutions for Safer Workplaces

Routine virus testing is effective overall employer strategy for providing employee safety and business continuity
More research needs to be done on how long vaccines are effective, if booster shots will be needed
Only 26% of the U.S. is fully vaccinated; vaccinated individuals can still spread the virus

United Medical Equipment Business Solutions Network provides solutions that fit the ever-changing needs of the nation’s workforce during the COVID-19 pandemic through the distribution of rapid antigen tests and COVID-19 rapid kit testing. As employers begin to reopen worksites, routine virus testing is an effective overall strategy for providing employee safety and business continuity.

Chief medical advisor to the president Anthony Fauci, MD, has stated that booster shots for COVID-19 may be needed (https://nnw.fm/2Uaj7). The vaccines currently being offered are said to provide protection for at least six months, but more research needs to be done on how long they are effective. The appearance of COVID mutations may also lead to the need for boosters. Right now vaccination efficacy is simply a moving target because the vaccines have not been around long enough to know how long they will be effective fully.

To achieve herd immunity, Fauci has said that the country needs to have 70% to 85% of the country immune either through vaccinations or previous infection. As of April 21, 2020, around 26% of the population was fully vaccinated (https://nnw.fm/3jR8P).

The experts agree that it will take time to suppress the spread entirely. The fact that those who are vaccinated are still capable of spreading the virus to others makes the process even slower; the task becomes even more daunting as fewer Americans practice public health safety measures.

COVID-19 rapid kit testing is needed now more than ever. The pandemic isn’t over, despite the urgency to go back to life as usual. United Medical is making it possible for businesses and health-care facilities to maintain safety and health among workers and clients.

United Medical is a trusted supplier of personal protective equipment (“PPE”) as well as FDA-approved COVID-19 rapid antibody test kits and FDA – EUA authorized rapid antigen tests. The company works with its customers’ specific testing needs and goals to build a customized and flexible employee testing solution that works for the employer, the employees and the customer’s budget.

United Medical is committed to addressing the needs of America’s aging population throughout the global pandemic and far into the future. By offering COVID-19 rapid kit testing, the company is doing its part and continually evolving its efforts to protect the community from COVID-19.

For more information, visit the company’s website at www.UnitedMedSolutions.com.

NOTE TO INVESTORS: The latest news and updates relating to United Medical Equipment are available in the company’s newsroom at https://nnw.fm/UnitedMed

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Nextech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF) President Gives Positive Outlook for AR Industry in Recent Podcast Interview

Speaking in an interview with Oren Klaff, Nextech President Paul Duffy noted that AR technology, as a concept, was growing as more people understand its use
He foresees significant milestones and breakthroughs, as well as an extensive global adoption of AR technology
His prediction is in line with a recent industry report that shows that the AR market will grow at a CAGR of 43.8% from 2021 to 2028

According to a report by Grand View Research, the global augmented reality (“AR”) market is estimated to grow at a 43.8% CAGR from 2021 to 2028, reaching $340.2 billion up from a market size value of $26.75 billion. The report attributes this growth to new innovations in the AR space that have led to the adoption of this technology in multiple industries. Presently, more people are using AR-based tools and platforms to shop, interact with their peers on social media and learn, in turn, fueling growth (https://nnw.fm/EzJgu).

The report tells of a world that a 2017 Harvard Business Review (“HBR”) article predicted (https://nnw.fm/8BxRH). The authors forecasted that AR, which was in its infancy at that time, would enter the mainstream and transform different industries and organizations, including learning institutions and social enterprises.

In an interview with bestselling author Oren Klaff on his “The Dealmaker Show” podcast (https://nnw.fm/PEXEP), Paul Duffy, President of Toronto-based Nextech AR Solutions (CSE: NTAR) (OTCQB: NEXCF), gave a positive outlook for the AR market and industry, indirectly seconding the predictions.

“The whole concept of augmented reality is just galloping in growth right now, not just in financial terms, but in mindshare, in people understanding its use. I personally believe that, over the next decade, augmented reality itself will become a new form of mass medium that we will all use to communicate at one level,” Duffy stated.

Duffy predicts that the next decade will witness significant AR technology milestones and breakthroughs that will lower the cost and size/weight of eyewear but still offer expanded functions and features, including support for multiple ways of controlling the devices. Moreover, he noted that breakthroughs leading to revolutionary experiences would hit the market in three to five years, effectively playing a role in making AR technology bigger and “omnipresent.”

“I’m seeing, at a global level, a large adoption of the technology. What I mean by this is there are more and more folks who are seeing its as a technology that they can apply, and they can use to gain value intrinsically in what they’re already doing,” Duffy continued.

Asked about businesses that should adopt AR, Duffy highlighted three key areas: e-commerce companies, hybrid and virtual events, and brands whose operations encompass advertising. He credited Nextech’s growth to its strong leadership team and the fact that it offers AR solutions for each of these three areas.

In April 2021, Nextech launched the LiveX Digital Experience Platform (“DXP”), its hybrid and virtual events platform, which it will use to stream an upcoming two-day event, leveraging its AR technological solutions to provide an engaging experience for attendees (https://nnw.fm/ENFa6). Similarly, the company launched an AR-capable Ad Network early this year. Nextech also offers AR-based e-commerce solutions, effectively taking part in the online commerce megatrend.

Thanks to its broad approach to offering innovative AR solutions, the company has witnessed tremendous growth year over year. In its recently released full-year report, for example, Nextech reported a 342% increase in revenue and a 320% growth in gross profits. Based on Paul Duffy’s positive outlook for the AR industry, Nextech looks poised to continue this growth through the coming years.

For more information, visit the company’s website at www.NextechAR.com.

NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at https://nnw.fm/NEXCF

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Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Key to Domestic Rare Earth Production Amid Rapidly Expanding Market

Rare-earth metals market expected to almost double by 2026, driven by consumer and industrial electronics demand
REEs are considered critical minerals by the government, but China absorbs biggest share of world supply
Energy Fuels remains top U.S. uranium producer, determined to expand into rare earths and bring back production to US

As a leading U.S. uranium producer that recently expanded into the promising rare earths market, Energy Fuels (NYSE American: UUUU) (TSX: EFR) may hold the key to restoring sustainable, low-cost, domestic rare earth element (“REEs”) production in the United States (https://nnw.fm/i7Cst). That position could prove to be profitable, as the rare earth metals market is projected to grow at a CAGR of 12.3%, expanding from $5.3 billion in 2021 to $9.6 billion by 2026 (https://nnw.fm/vqRBC).

A number of critical industries, such as green technology and defense, consume rare earth elements. These elements are used in permanent magnets, metal alloys, phosphors, catalysts, polishing and glass additives. Rare-earth permanent magnets are expected to be the main growth drivers, with projected growth rates of 12% to 14% in the next decade. Such elements are used around the world in major consumer and industrial electronic applications including electric vehicles, wind energy, smartphones and hard disk drives, but China absorbs the biggest share of current world supply (https://nnw.fm/dunx2).

Energy Fuels appears poised to become a key player in the rapidly expanding REEs market and revive production of the elements in the United States. Already the largest uranium producer in the country, with more production capacity and assets than any other U.S. uranium company, UUUU developed a complementary rare earth business in 2020. The strategic move was possible because one of the most valuable rare earth bearing minerals (monazite) also contains uranium that must be recovered before further downstream REE processing and refining can occur.

Energy Fuels is the key U.S. player for the raw materials, such as uranium, rare earths and vanadium, that make many clean energy and advanced technologies possible. These materials are categorized as critical minerals by the U.S. government, and both Congress and the Biden Administration support restoring U.S. production capabilities in these key industries. U.S. companies such as Energy Fuels produce critical minerals to the highest global standards for the protection of human health and the environment

UUUU believes that it might hold the key to restoring a sustainable, low-cost, domestic rare earth production in the country. “I’m not exaggerating when I say that rare earths at Energy Fuels’ White Mesa Mill in Utah might be the best resource opportunity I’ve encountered in my 45-year mining career,” said Energy Fuels president and CEO Mark S. Chalmers following the arrival of the first shipment of natural monazite ore at the company’s White Mesa Mill. This marks a significant milestone as monazite is one of the best naturally occurring rare earth minerals, but it is mainly sold to China’s rare earth and nuclear industries.

With a revived interest in the uranium sector and the company’s rapid progress in the REE space, combined with rising vanadium prices, Energy Fuels appears poised to seize further growth opportunities for the company and its shareholders.

For more information, visit the company’s website at www.EnergyFuels.com.

NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://nnw.fm/UUUU

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Ideanomics’ (NASDAQ: IDEX) Treeletrik Subsidiary to Supply 200,000 E-Motorcycles to Indonesia, Setting Stage for Significant Expansion

Treeletrik, Ideanomics’ subsidiary, inked a $274 million three-year deal with two distributors to supply 200,000 e-motorbike units to Indonesia
The deal will result in Treeletrik’s expansion, enabling Ideanomics to continue providing its shareholders with high-growth opportunities
Indonesia, the third-largest motorcycle market in the world, is a promising market for e-motorbikes, as evidenced by the projected growth at a CAGR of ~21% from 2019 to 2025

The Indonesian electric motorbike market is expected to grow at a CAGR of 20.96% from 2019 to 2025, reaching $816.2 million from $364.4 million (https://nnw.fm/fGGGg) amid clamor around the high vehicular pollution and the need to reduce CO2 levels in the country. Suggestions point to the introduction of a sustainable mode of transport as the solution to these problems. Further, the Association of Southeast Asian Nations (“ASEAN”) region, of which Indonesia is part, is committed to reducing final energy consumption in the road transport sector by 2040.

As a manufacturer of 100% electric vehicle (“EV”) products, including motorbikes, this is welcome news for Malaysia-based Tree Technologies Sdn Bhd (“Treeletrik”), a portfolio company of Ideanomics Inc. (NASDAQ: IDEX). Recently, Treeletrik announced it had inked a $274 million three-year deal with two Indonesian distributors, PT Pasifik Sakti Enjiniring and the Nahdatul Ulama Board (“PBNU”), that will see it supply 200,000 units of its electric motorbikes to Indonesia in yearly tranches. In 2021, Treeletrik will deliver a minimum of 10,000 units, followed by up to 90,000 units in 2022 and, finally, up to 100,000 units in 2023 (https://nnw.fm/AVeUk).

The partnership places Treeletrik in a favorable position to leverage Indonesians’ love for two-wheelers and generate revenue as a result. In 2019, for example, approximately 6.49 million motorbikes were shipped into the country, effectively making Indonesia the third-largest motorbike market in the world, behind India and China. Indonesia claimed this third position thanks to the increasing demand for cheaper personal transport, high disposable income, upgraded road infrastructure and rising popularity of loan and credit facilities (https://nnw.fm/lfyGa).

While Treeletrik is bound to benefit from a combination of these factors, which will naturally increase the sales of its motorbikes, the evident demand for cheaper personal transport alternatives is likely to stand out as a key driver. Its electric motorcycles offer a more affordable means of transport than motorbikes with combustion engines.

The e-motorbikes, which have a daily estimated range of between 80 and 120 kilometers and can cruise at an average speed of 65-90 km/hour, run at an estimated cost per kilometer of between RM0.01 and RM0.02 ($0.0024 to $0.0049), when an electricity rate of RM0.571/kWh ($0.14), the highest tariff by the Tenaga Nasional, is used.

In contrast, an independent comparison conducted in 2017 pitting nine gasoline-powered motorcycles against one of Treeletrik’s motorbike models, the T-70, established that the gasoline-powered bikes were more expensive to run per kilometer at RM3.7-12 ($0.90-2.92) compared to the T-70’s RM0.0072 (https://nnw.fm/P8yrV), a figure consistent with the current RM0.01-0.02 estimate.

The affordability aspect of the e-bikes formed part of a statement by Treeletrik CEO Datuk Viswananthan Menon, who hailed the company as a forerunner in taking fully electric bikes to the ASEAN region and beyond, pioneering a new way of mobility. “Our 100% electric motorbikes offer customers long-term cost savings and more importantly contribute towards an overall positive impact to the environment,” he said.

According to Menon, the deal Treeletrik entered with the distributors, other similar sizeable orders and ongoing discussions with other countries interested in its range of e-bikes will result in its significant expansion in both its home country and in international markets. Thus, Ideanomics, which acquired a controlling stake in Treeletrik in 2019 as part of its strategy to drive the adoption of commercial EVs, is well placed to continue providing shareholders with high-growth opportunities.

For more information, visit the company’s website at www.Ideanomics.com.

NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://nnw.fm/IDEX

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Thursday, April 29, 2021

Ryah Group Inc. Uses Big Data, AI to Reshape Plant-Based Medicine

RYAH recognizes the value data combined with analytics can bring to almost every industry.
Company focused on becoming a technological leader in the plant-based treatment market.
RYAH’s easy-to-operate line of products help foster a seamless dose-control experience that generates insightful data.

A recent Forbes article called it the “oil” of the fourth industrial revolution (https://nnw.fm/lWJnP) while a Gartner article noted it was a core function for businesses focused on success in 2021 (https://nnw.fm/shH7V). Whatever it is called, data has become a hot commodity in today’s world, and the RYAH Group is dedicated to transforming patient care through big data and AI to unearth breakthrough discoveries that will reshape understanding of plant-based medicines.

“Self-driving cars, lifelike robots, and autonomous delivery drones are the sexy, headline-grabbing face of the digital transformation that we see all around us today,” stated the “Forbes” article. “None of these would be possible, though, without data – the oil of the fourth industrial revolution – and the analytic technology we’ve built to allow us to interpret and understand it.”

The Gartner article noted that “business leaders are beginning to understand the importance of using data and analytics to accelerate digital business initiatives. Instead of being a secondary focus — completed by a separate team — data and analytics is shifting to a core function. However, business leaders often underestimate the complexities of data and end up missing opportunities.”

RYAH recognizes the value data combined with analytics can bring to almost every industry, and it has focused on becoming a technological leader in the plant-based treatment market. The company has created unique products that pair a growing ecosystem of therapeutic plants with top-rated apps, devices, and services.

RYAH’s easy-to-operate line of products help foster a seamless dose-control experience that generates insightful data, making it simple for doctors, researchers, and end users to hone in on the ideal settings for the best possible treatment outcomes with RYAH Smart Patch, RYAH Smart Inhaler, RYAH Smart Pen, and upcoming RYAH MD platform.

These proprietary IoT devices and data analytics are supported by patented AI technology to aggregate and correlate HIPAA-compliant dosing data from seed to consumption. RYAH is then able to conduct predictive analyses to help doctors, researchers and end users create personalized dosing regimens that can accurately foresee patient outcomes.

RYAH’s unique approach has allowed it to carve a promising niche in the $100.3 billion medical plant market, with exciting potential in both the IoT and data intelligence industries.

For more information, visit the company’s website at www.RYAHGroup.com.

NOTE TO INVESTORS: The latest news and updates relating to RYAH Group are available in the company’s newsroom at https://nnw.fm/RYAH

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