Cybin (NEO: CYBN) (NYSE American: CYBN) has taken another step forward in its commitment to progressing Psychedelics to Therapeutics(TM). The biopharmaceutical company has received a notice of allowance from the U.S. Patent and Trademark Office (“USPTO”) in regard to its patent application connected to its investigational deuterated psychedelic tryptamine compound for the potential treatment of anxiety disorders (https://ibn.fm/fpjXm).
“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.”
Cybin applied for the patent to study CYB004, its proprietary psychedelic tryptamine compound with the potential to effectively treat anxiety disorders without the common side effects associated with current treatments. The potential for this sector is significant, as anxiety disorders are one of the most common mental illnesses in the United States.
Based on reports from the U.S. National Institute of Mental Health, an estimated 40 million adults, or approximately 18% of the population, deal with anxiety disorders. And while many treatments are available, the success of these treatments is underwhelming, with up to 50% of patients with general anxiety disorder failing to respond to first-line treatments. In addition, “current standardized treatments for anxiety disorders also require chronic administration of medicines that have a long time to onset and present several potential side effects including weight gain, gastrointestinal disturbances, sexual dysfunction and withdrawal symptoms,” the company reports.
Cybin hopes to solve many of these issues with its CYB004 compound, as well as other compounds it is developing. The USPTO note of allowance includes other forms of deuterated psychedelic tryptamine, the announcement reported, including certain deuterated forms of CYBN’s DMT and 5-MeO-DMT formulations.
A leading ethical biopharmaceutical company, Cybin is working with a network of world-class partners and internationally recognized scientists to create safe and effective therapeutics for patients to address a multitude of mental health issues. The company operates in the United States, the 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://ibn.fm/CYBN
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