Company alters the structure of compounds like psilocybin to make therapeutically useful.
Despite how common depression is, reports indicate that over half of those who take antidepressants to manage this mental health illness do not experience relief. According to research from the Northwestern University Feinberg School of Medicine, current medications are “like arrows shot at the outer rings of a bull's eye instead of the center.”
Psychedelic therapeutics may have the opportunity to assist millions of people around the world.
To find a solution, Cybin is innovating the use of psychedelics to treat depression and other mental health issues. The company’s leadership believes that psychedelics have the opportunity to target mental illness across multiple indications and to do for sufferers what other drugs cannot.
Doug Drysdale, Cybin’s CEO, explains that the key to creating useful psychedelic therapeutics is to alter their structures to optimize their duration, efficacy and speed in getting them into patients and taking effect. It is also important to reduce unwanted side effects and longer-than-needed psychedelic experiences.
“To accomplish this, we use a process called deuteration to create a new chemical entity (NCE). We replace the hydrogen atom in a parent/psychedelic compound, i.e. psilocybin, with a heavier version of hydrogen called deuterium to create a stronger carbon bond,” said Drysdale. “We then leverage molecules like this that have shown positive early efficacy, optimizing their pharmacokinetics, bioavailability and delivery. The result is an NCE that is stronger, more effective and more commercially viable. These drug candidates are patent-protected and commercially scalable.”
Cybin has four active drug programs targeting major depressive disorder, alcohol use disorder, anxiety disorders and therapy-resistant psychiatric disorders (CYB001, CYB003, CYB004, CYB005).
Cybin’s psychedelic molecules are the foundation of its four active drug programs. The use of psychedelic drugs to treat MDD is under research, and Cybin aims to use the clinical data in the United States, Canada and Europe. Regarding the ability of psychedelic drugs to treat AUD, Cybin is encouraged by very promising results from proof-of-concept trials at New York University.
The company notes that there have been other promising recent studies, including those from Johns Hopkins University, NYU and Imperial College of London, that support the efficacy of psychedelic molecules for treating addiction, post-traumatic stress disorder and other conditions.
Cybin’s own extensive research has led to the company having more than 50 different proprietary psychedelic molecules based upon DMT, MDMA, psilocybin and other psychedelics. It has demonstrated proof of concept of proprietary deuterated molecules designed to be shorter acting, more scalable and more accessible. More than 20 preclinical studies have progressed to lead programs ahead of Food and Drug Administration investigational new drug filings.
Cybin’s advanced research and results have drawn considerable attention, and it has strategic partnerships with international pharmaceutical companies, including Catalent (to advance CYB003) and Covance, a Labcorp company (to advance CYB004). Due to its scientists’ work, Cybin has 13 patent filings that cover novel psychedelic compounds, integration of delivery platforms, methods of use in psychiatric indications, and drug discovery pipeline of modified and novel ergolines, tryptamines and phenethylamines.
Cybin has partnered with Kernel to leverage its revolutionary neuroimaging technology, which opens a new frontier in psychedelic therapeutics by acquiring longitudinal brain activity before, during and after a psychedelic experience. This enables quantification of what was previously subjective self-reporting. With the technology, Cybin will be able to quantify brain activity in real time during psychedelic experiences.
Cybin’s cutting-edge approach to resolving the mental health crisis has found considerable support from investors. The company has raised more than $120 million to date, allowing it to progress clinical trials, mergers and acquisitions, and intellectual property strategies. The Cybin team has previously raised more than $4 billion within the health care sector from both private and public companies.
With its investors’ confidence, the company has been able to expand rapidly and currently has 50 full-time employees and more than 10 specialty advisers and consultants. Cybin also acquired Boston-based pharmaceutical company Adelia Therapeutics Inc. It commenced trading in Canada on the NEO Exchange under the ticker CYBN in November 2020. Cybin also trades on the New York Stock Exchange American market under the ticker CYBN and is the first psychedelic-focused biotech company to list on the NYSE American.
The Cybin team is headed by Drysdale, who has 30 years of experience in the health care sector. The company’s chief scientific officer is Alex Nivorozhkin, who is a seasoned medicinal chemist, drug delivery expert and founder of biotech companies.
Michael Palfreyman is Cybin’s chief research and development officer and has 30 years of preclinical/clinical development experience. Alex Belser serves as Cybin’s chief clinical officer and is a licensed psychologist, clinical supervisor and psychedelic researcher in psilocybin clinical trials at Yale University.
Cybin’s team has a collective 100-plus years of experience working with larger pharmaceutical and academic institutes, and the company’s strong leadership has an ambitious vision for Cybin’s future. Cybin will continue its IP portfolio expansion through the advancement of novel molecules, delivery mechanisms and technology platforms. It plans to continue to expand its data sets using groundbreaking neuroimaging technology. It will also further the development of a digital patient support platform to reduce the use of health system resources.
Cybin ultimately is a company that is leading the way to a stronger approach to treating mental illness. The greatest advances come when innovators are not afraid to try new ideas, and with Cybin’s research into psychedelic drug treatments, people who suffer from mental illnesses are poised to find much-needed relief.
Cautionary Notes and Forward-Looking Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the Company’s new strategic brand messaging campaign, and psychedelic drug development programs to potentially treat mental health disorders. There are numerous risks and uncertainties that could cause actual results and Cybin’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceutical products. The efficacy of such products have not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.