Tryptamine names global pharmaceutical leader as chairman

• Global pharmaceutical leader Herwig Janssen appointed Tryptamine non-executive chairman
• Janssen held senior leadership roles with multinational pharmaceutical company Johnson & Johnson
• Chris Ntoumenopoulos will transition to role of executive director

Special Report: Psychedelic drug developer Tryptamine Therapeutics has appointed a global pharmaceutical leader as its new chairman and made targeted board changes to strengthen leadership ahead of the next phase in its clinical development and commercialisation strategy.

Tryptamine Therapeutics (ASX:TYP) has appointed Herwig Janssen as non-executive chairman effective today and he brings experience in senior roles at multinational pharmaceutical conglomerate Johnson & Johnson (J&J) for more than 40 years.

Most recently,  Janssen was vice president for licensing & acquisitions (emerging markets) at J&J Innovative Medicine (formerly Janssen Pharmaceuticals), a subsidiary of J&J for nearly three decades.

Tryptamine said Janssen brought significant pharmaceutical sector experience to Tryptamine, having led led business development activities for J&J across global emerging markets with a demonstrated track record in licensing, technology transfers and M&A.

As a member of the Janssen family, he has a long association with J&J in connection with the strategic acquisition of Janssen Pharmaceuticals.

Tryptamine said Janssen’s ability had been recognised through the James E Burke Award, which is J&J’s highest internal honour and is awarded for outstanding leadership and integrity, while delivering exceptional business impact.

Additional board changes

Mark Davies will step down from the chairman role while Chris Ntoumenopoulos will transition to the role of executive director from non-executive director, a position he has held since May 2024.

Ntoumenopoulos intends to increase his operational and market engagement involvement as Tryptamine embarks on the next phase of the comprehensive clinical development pathway for its lead drug candidate, TRP-8803, following the successful completion of phase I trials.

He has a strong track record in the biotech sector and has advised on multiple transactions as managing director of boutique corporate advisory firm Twenty1 Corporate.

His previous directorships include Race Oncology (ASX: RAC) and ResApp Health, which was acquired by Pfizer in 2022 for almost $200 million.

He currently serves as the chairman of NeuroScientific Biopharmaceuticals (ASX:NSB) and holds other directorships in the ASX biotech sector.

Advancing clinical pathway for TRP-8803

Tryptamine reported in November its Phase 1b study of its IV-infused psilocin treatment TRP-8803 met all key objectives for safety and optimal dosage rates, enabling advancement to phase II clinical trials in specific clinical indications.

The phase 1b study was extended to an obese patient population who were safely administered TRP-8803.

Tryptamine said safe dosing of TRP-8803 in obese patients provided valuable, cost-effective human pharmacokinetic data to support dose selection for future phase II trials.

Plans are underway to undertake a trial of TRP-8803 in binge eating disorder (BED). The company completed a phase 2a study, in collaboration with the University of Florida, to assess the application of its oral psilocybin formula TRP-8802 to treat BED.

Strong initial results from the BED trial included an average reduction in binge eating episodes of more than 80% in patients compared with baseline, along with reductions in anxiety and depression and a durability of effect up to 60 days.

Joining board at ‘important juncture’

Janssen said he was excited to be joining the Tryptamine board at an “important juncture”, with the company having already established itself as a pioneer in the field of precision psychedelic therapies.

“My decision to join as chairman was informed in part by my belief in the potential of these treatments to achieve improved health outcomes and through its clinical program to-date, Tryptamine has demonstrated its commitment to designing and executing a comprehensive trial framework in accordance with best-in-class quality control standards,” he said.

“As we advance to the next phase of trials, I look forward to leveraging my experience in international healthcare markets to help guide the strategic direction of the business and, in the process, advancing the field of psychedelic-assisted medicine with our world-first research and clinical development program.”

CEO Jason Carroll said the addition of Herwig as chairman was a significant appointment.

“With decades of experience as a senior global healthcare executive, we look forward to benefiting from his insights to help guide the company’s commercialisation strategy at board level,” Carroll said.

He said along with the transition of Ntoumenopoulos to executive director role, the changes were consistent with Tryptamine’s strategy to continually strengthen its board and management with best-in-class candidates skilled to oversee advancement of its clinical development pathway.

“In turn, the company is now ultimately positioned at an important juncture, with the pending commencement of world-first clinical trials for the use of our lead drug candidate TRP-8803 to treat binge eating disorder.”

“I’d also like to take this opportunity to thank Mark Davies for his significant contribution as chairman,” he said.

Having overseen a strategic acquisition, a $6m funding round and the successful completion of phase I trials, Mark hands over the reins with the company in a strong position to achieve our commercial objectives.”

This article was developed in collaboration with Tryptamine Therapeutics, a Stockhead advertiser at the time of publishing.

 This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.