- Company announced the first officially issued patent
- Patent provides strong protection for Cybin’s growing IP portfolio of psychedelic-based compounds
- CYB004 has demonstrated potential efficacy at lower doses while increasing duration of drug effect that may alleviate common negative experiences
In a milestone moment for psychedelic therapeutics company Cybin (NEO: CYBN) (NYSE American: CYBN), the company has announced its first official issued patent. The U.S. Patent and Trademark Office (“USPTO”) has granted U.S. patent 11,242,318 to Cybin’s proprietary CYB004, the company’s lead investigational proprietary DMT compound.
“From the outset, Cybin has focused on creating differentiated compounds that harness the potential efficacy of classical psychedelics, while addressing the known limitations necessary for these molecules to become approvable therapeutics,” said Cybin CEO Doug Drysdale. “We are extremely pleased to receive a composition of matter patent for CYB004, adding strong protection for our growing intellectual property portfolio of psychedelic-based compounds, supporting and protecting the investments that we are making in our CYB004 program. This patent is both rewarding and timely as we prepare to initiate a pilot study for CYB004 in the third quarter of 2022 and work tirelessly to develop an important and alternative treatment option for the millions of people suffering from anxiety disorders.”
Under the patent, allowed claims include a range of deuterated forms of DMT and 5-MeO-DMT; the patent also covers composition of matter and protects the CYB004 drug substance as a putative new chemical entity until 2041, when the patent is set to expire. Most importantly, perhaps, the patent highlights the strength of Cybin’s IP position and the company’s differentiated approach to bringing a psychedelic-based therapy toward regulatory approval and to patients in an otherwise congested industry.
Cybin has spent considerable time and resources developing CYB004, which has the potential to effectively treat anxiety disorders with improved control over DMT delivered through inhalation. Specifically, in preclinical trials, the proprietary DMT compound indicated reduced dosage for better safety as well as the potential for longer duration of effect while reducing negative experiences associated with current treatment methods. For more information on Cybin’s programs, visit their corporate presentation at the following link: https://nnw.fm/A74rZ.
Looking forward, the company is planning a pilot study of CYB004; Cybin intends to submit a clinical trial application for the study in coming weeks with expectations to begin the study in Q3 of 2022. In addition, Cybin will follow up on multiple opportunities to secure and support its patent position for research and development evaluating deuterated tryptamines for future psychedelic-based treatments for mental illnesses.
The market for Cybin’s newly patented CYB004 is vast, with the National Institute of Mental Health reporting that an estimated 19% of adults in the United States had any anxiety disorder in the past year and more than 31 of U.S. adults will experience any anxiety disorder at some point in their lives). With those numbers as a backdrop, the potential is high for Cybin’s innovative drug-delivery systems to change lives and establish the company as a leader in a billion-dollar industry
Cybin is a leading ethical biopharmaceutical 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, United Kingdom 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.
For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://nnw.fm/CYBN
About NetworkNewsWire
NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 40+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork
