Psychedelics biotech Tryp Therapeutics (OTCQB:TRYPF) is advancing its psilocybin-based portfolio through several recent milestones.

Upcoming Phase 1 For IV Psilocin

First, the company received approval from the Australian Human Research Ethics Committee (HREC) for a Phase 1 study on its IV-infused psilocin, TRP-8803. To take place at the CMAX Phase 1 unit in Adelaide, Australia, the open-label study will assess the safety and pharmacokinetics (PK) of a single intravenous (IV) infusion of the psychedelic in nine healthy adults.

On a broader scale, the trial is designed to determine the optimal blood levels of psilocin to achieve the targeted psychedelic...