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Cybin Inc. (NEO: CYBN) R&D Sees Hope in Growing Acceptance of Psilocybin

  • U.S. taking actionable steps toward acceptance of psilocybin
  • States, individual cities have decriminalized, made use and possession of psilocybin low law-enforcement priority
  • More psilocybin research being done focused on health, well-being of Americans facing a mental health crisis on epic levels

Cybin (NEO: CYBN) is a life science company focused on the pharmaceutical development of psychedelic products. The company’s subsidiary Serenity Life Sciences is focused on the research and development of psilocybin-based medications. Psilocybin, referred to by the media as magic mushrooms, has had its share of bad press. The stigma of this substance has halted R&D in America in the past, but that is beginning to change.

Under the Controlled Substances Act, psilocybin is included with heroin and LSD as a Schedule I drug. According to the National Drug Intelligence Center, psilocybin serves no legitimate medical purpose in the United States (https://nnw.fm/VY7C4). This view has come under criticism as recent studies surrounding the substance show otherwise. The public’s opinion, state guidelines and pharmaceutical development of psychedelic products are moving towards growing acceptance and legalization.

Oregon became the first state to legalize the use of psilocybin for therapeutic use when voters passed Measure 109 on Nov. 3, 2020 (https://nnw.fm/6ohBO), the latest in several steps the country hs been taking toward psilocybin acceptance.

In 2005 the Court of Appeals in New Mexico overturned a felony drug trafficking conviction by citing that growing hallucinogenic mushrooms isn’t prohibited under the drug trafficking law’s definition of “manufacture” (https://nnw.fm/JsS5e), marking one of the first indications of what would be a slow-changing tide. Fifteen years later, New Jersey amended a marijuana decriminalization bill to include a lesser punishment for possession of psilocybin from a third-degree felony to a disorderly persons offense (https://nnw.fm/F9Clu).

In addition, where states are not decriminalizing psilocybin, individual cities are. Denver was the first U.S. city to decriminalize psilocybin mushrooms. Ordinance 301 was passed with a 50.56% majority in May 2019 (https://nnw.fm/mOwNU). This ordinance keeps the city from prosecuting or arresting adults in possession of or even growing the mushrooms.

Other cities across the country have followed suit. Oakland, California, passed a law the following month banning law enforcement from investigating and prosecuting individuals using or possessing drugs sourced from plants, cacti and mushrooms that contain psilocybin (https://nnw.fm/tdDNE).

The third city was also in California. Santa Cruz’s City Council voted unanimously in January 2020 to make the investigation and arrest for adult possession, use or cultivation a low-priority infraction (https://nnw.fm/yExjq). In another unanimous vote in September 2020, Ann Arbor, Michigan’s City Council voted in favor of declaring the investigating and arrest of anyone for planting, cultivating, purchasing, transporting, distributing, engaging in practices with or possessing psilocybin the city’s lowest law enforcement priority (https://nnw.fm/nHHnW). All four cities citied indigenous cultural reasons as well as research around the use of psychedelics in the treatment of mental health and as a viable option combating the opioid crisis.

More movement is being seen in the decriminalization and push for research across the United States.

  • Alexandria Ocasio-Cortez filed legislation for researchers to more easily study the benefits of psychedelic drugs (https://nnw.fm/EYwxE)
  • Jeff Shipply filled a bill in the name of personal freedom to decriminalize psilocybin in Iowa
  • Initiative 81, voted on by D.C. residents and awaiting review by Congress, makes the possession and use of certain psychedelic plants low priority for the police (https://nnw.fm/LbAux)

Criminalization and the stigmas attached have made it difficult for researchers to explore the medical benefits of psilocybin and other psychedelics. As more states accept the cultural and medical benefits of these substances, more research can be done, which could ultimately lead to increased health and well-being of Americans who are facing a mental health crisis on epic levels.

With more than 17 million people in the Unted States experiencing at least one major depressive episode (https://nnw.fm/v8usA), it is past time for new treatment alternatives. Cybin is at the forefront of companies conducting clinical trials for potential new treatment options and is developing innovative approaches to bring new psychedelic-based therapies to patients in need.

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

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