As the new year begins, Cybin (NEO: CYBN) (NYSE American: CYBN) couldn’t be in a better position. The biopharmaceutical company’s commitment to establishing a stronghold in the psychedelics space paid off big last year, with the company marking a host of major milestones and accomplishments and looking toward more of the same for 2022.
“2021 was an exciting year for Cybin,” said Cybin CEO Doug Drysdale. “We expanded our organization from five to more than 55 employees across four countries and have established an operating ecosystem of nearly 50 partners and vendors that have supported more than 90 preclinical studies and numerous patent and investigational new drug filings over the past 12 months.”
And that’s just the beginning for the emerging leader in the psychedelics industry. The company points to several key highlights this past year as proof positive it is on the right road to psychedelic success. Ranking at the top of 2021 milestones were the notice of allowance awarded from the U.S. Patent and Trademark Office for Cybin’s CYB004 (deuterated psychedelic tryptamine) for the treatment of anxiety disorders and FDA approvals for the company’s cofunded investigator-initiated phase 2 clinical trial. Using the EMBARK psychedelic facilitator training program, the trial is designed to evaluate psychedelic-assisted psychotherapy to treat frontline clinicians experiencing COVID-related distress.
In addition, company leaders confirmed a scientific advice meeting with the UK’s Medical and Healthcare Products Regulatory Agency regarding CYBN’s lead candidate CYB003 for the treatment of major depressive disorder and alcohol use disorder. Cybin also announced positive CYB003 data showing significant advantages compared to oral psilocybin for the treatment of mental health disorders, including a 50% reduction in variability, a 50% reduction in dose, a 50% shorter time to onset and nearly double brain penetration.
Other 2021 highlights for Cybin included receiving a grant for a psychedelic treatment clinic at Lenox Hill Hospital, part of the largest healthcare system in New York State, to benefit underserved communities; being granted a schedule I manufacturing license from the U.S. Drug Enforcement Agency for its Boston-area research lab, which will allow the company to expand its internal R&D capabilities; receiving approval from the FDA for its investigational new drug application to proceed with a company-sponsored feasibility study using the Kernel Flow quantitative neuroimaging technology to measure ketamine’s psychedelic effect on cerebral cortex hemodynamics; and the completion of 74 in-vitro and in-vivo evaluations of the company’s expanding portfolio of psychedelic compounds being designed for potential therapeutic applications for several mental health conditions.
There were many more 2021 highlights for Cybin, which expanded operations into Europe and was the first psychedelic company to list on the NYSE American market. “Driven by promising and differentiating preclinical data, our innovative operational and R&D pipeline platforms expect to support four first-in-human clinical studies in 2022, which we hope will progress our proprietary psychedelic development candidates CYB003 and CYB004 closer toward potential approval for treating depression and addiction disorders,” Drysdale stated. “We believe 2022 will be a truly transformative year for Cybin.”
Cybin is a leading ethical biopharmaceutical company on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. 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://ibn.fm/CYBN
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