Cybin (NEO: CYBN) (NYSE American: CYBN) has taken another step forward in its strategic plan to strengthen its position as leading innovator in developing putative psychedelic compounds. The company has received a Notice of Allowance from the U.S. Patent and Trademark Office (“USPTO”) for its patent application for an innovative treatment of anxiety disorders (https://ibn.fm/8hMWh).
Cybin announced that it has been awarded a USPTO Notice of Allowance for patent application No. 17/394,038. The patent is connected to the company’s proprietary investigational deuterated psychedelic tryptamine compound, CYB004. Cybin is evaluating the compound as a potential treatment of anxiety disorders. According to the announcement, the notice includes allowed claims for other forms of deuterated psychedelic tryptamine, including certain deuterated forms of DMT and 5-MeO-DMT.
“The receipt of this Notice of Allowance from the USPTO represents an important milestone in expanding our intellectual property portfolio progressing psychedelics to therapeutics for the countless patients in need, and strongly demonstrates the company’s dedication to the discovery and development of differentiated psychedelic-based compounds for addressing mental health,” said Cybin CEO Doug Drysdale. “Once issued, this patent may have the opportunity to cover a broad range of claims supporting our IP in psychedelic medicine and further strengthen our emerging best-in-class position in this evolving industry.”
Anxiety disorders rank among the most common mental illnesses in the country, with the U.S. National Institute of Mental Health reporting that an estimated 40 million adults, or approximately 18% of the population, suffer from the disorder every year. “Despite the availability of many prescription medicines, these treatments are not equally efficacious in all patients with up to 50% of patients with general anxiety disorder failing to respond to first line treatments,” Cybin stated.
Another challenge with current anxiety disorder treatments is the time it takes for the treatments to become effective as well as the side effects that often accompany the treatment. Troublesome side effects can include weight gain, gastrointestinal disturbances, sexual dysfunction and withdrawal symptoms.
“CYB004 is a proprietary deuterated psychedelic tryptamine that has the potential to effectively treat anxiety disorders without the well-known side effects of the current treatment landscape,” Drysdale added.
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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