Cybin (NEO: CYBN) (NYSE American: CYBN), a biotechnology company focused on progressing psychedelic therapeutics, has entered an agreement to acquire the largest phase 1 DMT study conducted to date. The acquisition, conducted through Cybin IRL Limited, a wholly owned subsidiary of Cybin, is expected to accelerate Cybin’s CYB004 program timeline by an estimated nine months; CYB004 is Cybin’s proprietary deuterated DMT molecule designed for the potential treatment of anxiety disorders.. The phase 1 N,N-dimethyltryptamine (“DMT”) study is focused on evaluating pharmacokinetics/pharmacodynamics of DMT currently underway and is expected to significantly impact the clinical path forward. Renamed CYB004-E, the phase 1 EBRX-101 study is being conducted in the Netherlands at the site of a leading independent foundation, the Centre for Human Drug Research, which specializes in innovative early-stage clinical drug research; the study involves 50 healthy volunteers who smoke tobacco and is the largest phase 1 DMT clinical study conducted to date. The company is planning to replace its currently planned pilot study for CYB004 with this new study, and Entheon will serve as external consultants to Cybin. “The most precious commodity in drug development is time, and acquiring this robust phase 1 study already underway potentially accelerates the CYB004 development program by approximately nine months,” said Cybin CEO Doug Drysdale in the press release. “The PK findings from the CYB004-E study should also help to inform the clinical path forward for this innovative and proprietary molecule. This transaction also provides Cybin with access to a world-class research foundation and the privilege to work with the Entheon team, who offer a wealth of knowledge and expertise in this psychedelic class. . . . With our recent IND filing for CYB003, we are quickly becoming a multiprogram clinical-stage company with four sponsored human trials underway in 2022. This is especially meaningful to our work to bring our innovative psychedelic-based therapies to people in need as quickly as possible. This is a truly exciting time for Cybin.”
To view the full press release, visit https://ibn.fm/OqLI6
About Cybin Inc.
Cybin is a leading ethical biotechnology company, working with a network of world-class partners and internationally recognized scientists and 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 and Ireland. The company is focused on progressing psychedelics to therapeutics(TM) by engineering proprietary drug-discovery platforms, innovative drug-delivery systems, and 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://ibn.fm/CYBN
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