Cybin Inc. (NEO:CYBN | NYSE AMERICAN:CYBN), a biopharmaceutical company focused on progressing “Psychedelics to TherapeuticsTM”, announced that it has successfully achieved its research and development milestones that helped to build and progress its innovative pipeline of investigational psychedelic therapeutics ahead of projected timelines. These milestones were set forth in the acquisition agreement of Adelia Therapeutics Inc. in December 2020. The achievement of these milestones has supported Cybin’s transition from a discovery- to clinical-stage development organization in less than two years.
“It is extremely gratifying that we have been able to progress our ambitious R&D pipeline – from discovering new drug candidates to entering the clinic – ahead of our projected schedule. Our clinical development work continues in earnest, and with each day we get closer to our goal of creating new psychedelic-based treatments for mental health conditions and potentially improving the patient and therapist experience across multiple indications. Our commitment to bringing these important and new potential treatments to patients in need and delivering value to all our stakeholders is unwavering.”Doug Drysdale, Chief Executive Officer of Cybin
The milestones focused on bringing Cybin’s psychedelic programs from the lab to the clinic. As Cybin has advanced its research and development pipeline, these milestone achievements have contributed to discovering potential new drug formulations and delivery methods, creating clinical protocols for psychedelic compounds, and most recently, supporting clinical-stage development of the Company’s CYB003 and CYB004 programs for major depressive disorder and anxiety disorders, respectively. The Company’s team of scientists remains focused on advancing its CYB003 and CYB004 programs and discovering new and proprietary psychedelic-based assets for other serious conditions, including neuroinflammation and psychiatric disorders.
“Less than two years ago, we laid out a comprehensive blueprint for bringing forward investigational new drug candidates derived from psychedelic compounds. To achieve these milestones ahead of projected timelines is truly remarkable,” said Alex Nivorozhkin, Ph.D., Cybin’s Chief Scientific Officer.
Cybin’s Research and Development team has completed over 200 in vitro and in vivo preclinical studies to support the Company’s expanding portfolio of investigational psychedelic compounds. To date, these important discoveries have led to one granted U.S. patent and a strong and growing intellectual property portfolio across 6 patent families.
“Our accomplishments are a testament to the dedication of our outstanding industry-leading team. We look forward to advancing our work in treating mental health conditions and discovering new potential treatment options for other areas of unmet need,” said Michael Palfreyman, Ph.D., Chief R&D Officer of Cybin.
Cybin is a leading ethical biotechnology company, working with a network of world-class partners and internationally recognized scientists, on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland. The Company is focused on progressing Psychedelics to Therapeutics by engineering proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health disorders.