Greetings from EGB Ventures,
We hope this note finds you well. As we enter the fall here in the U.S., we are cautiously optimistic about the signs of life that are beginning to emerge in both the public and private capital markets and are hopeful that this is the beginning of the long, steady, positive trend that we’ve all been waiting for. We believe that our portfolio companies are well positioned to take advantage of a positive trend in the markets and are happy to provide some important updates from those companies below:
Tryp Therapeutics (CSE: TRYP OTCQB: TRYPF)
Tryp Therapeutics has recently welcomed Mr. Jason Carroll as its new CEO. Jason, based in Sydney, Australia, boasts an impressive 32-year career in the pharmaceutical industry. His extensive background includes leadership roles at industry giants such as Johnson & Johnson, Janssen Pharmaceutica, and Bristol-Myers Squibb, along with his most recent role as Managing Director of iNova Pharmaceuticals Philippines. Jason's wealth of experience and strategic vision will undoubtedly guide Tryp Therapeutics as it forges ahead with its mission in groundbreaking medical research.
In conjunction with Jason joining the company, Tryp's Chief Scientific Officer, Dr. Jim Gilligan, just concluded a weeklong series of in-person meetings in Australia. Accompanied by Jason and Australia-based Board member Chris Ntoumenopoulos, Jim held a series of impactful meetings in Sydney, Melbourne, Adelaide, and Perth where the team met with numerous individuals and research institutions to spread the word of Tryp's achievements to date and to shed light on the company's upcoming plans.
Island Pharmaceuticals (ASX: ILA)
Island Pharmaceuticals has announced the initiation of its single ascending dose study of ISLA-101, aimed at combating dengue fever. The dosing phase is set to commence in October, pending approval from the Human Research Ethics Committee, with data anticipated in 2024. This pivotal study will take place in Australia, leveraging the Australian Federal Government's R&D tax incentive and will serve as the foundation for Island's planned Phase 2a PEACH study. The PEACH study will be a randomized, double-blind, placebo-controlled examination of an antiviral in a dengue challenge model.
GeneTether Therapeutics (CSE: GTTX)
GeneTether remains dedicated to exploring alternative assets for in-licensing or acquisition. As always, we welcome any connections that you may be able to make in our search for additional assets. Additionally, the company has enlisted the expertise of Dr. Carlo Rago, PhD, on a limited consultancy basis. Dr. Rago's background includes a PhD in Cellular and Molecular Medicine from the Johns Hopkins School of Medicine. He trained under Dr. Bert Vogelstein at the Ludwig Center for Cancer Genetics and Therapeutics at Johns Hopkins, where he made pioneering contributions to the understanding of circulating tumor DNA dynamics (now known as liquid biopsies) and developed early genome editing techniques, facilitating gene function studies and drug discovery. Dr. Rago's insights will be instrumental in developing a robust and relevant R&D plan, which can be executed should the opportunity arise, either independently or in collaboration with a partner.
We believe that these activities underscore the commitment and dedication of our portfolio companies in advancing medical research and achieving their strategic goals. We deeply appreciate your continued support. As always, please do not hesitate to reach out if you have any questions or would just like to reconnect.