Cybin Announces Completion of its 51st Pre-Clinical Psychedelic Molecule Study
June 22 2021 - 8:39AM
InvestorsHub NewsWire
TORONTO, Canada -- June 22, 2021 -- InvestorsHub
NewsWire -- Cybin Inc. (NEO:CYBN) (OTCQB:CLXPF) ("Cybin" or the
"Company"), a biotechnology company focused on
progressing psychedelic therapeutics, today announced the
completion of its 51st pre-clinical study as it
continues to progress its proprietary psychedelic molecules into
Investigational New Drug ("IND")-enabling studies.
The Cybin Research and Development team has completed its
51st in-vitro and in-vivo evaluation of Cybin's
growing number of psychedelic compounds being designed for
potential therapeutic applications for a number of mental health
objectives. To date, more than 50 novel compounds have been
evaluated through collaborations with experienced Contract Research
Organizations for pharmacokinetic properties, metabolic stability,
receptor binding, and safety in order to identify preferred
candidates for further development.
To date, 1 clinical candidate, CYB001 and 3 development
candidates, CYB002, CYB003 and CYB004, from the tryptamine family,
have been nominated and are advancing towards clinical evaluations
in Major Depressive Disorder, Alcohol Use Disorder and Anxiety.
Novel compounds from the ongoing research programs have also been
evaluated both in-vivo and in-vitro and have the potential to
provide highly differentiated future candidates.
Cybin's continued development thesis is based on the need to
create commercially viable drugs. These programs support the
company's clinical goals, including decreasing the onset time of
the therapeutic window, which would entail maximum convenience for
the treating therapist and the patient.
"These experiments greatly expand our understanding of the
potential therapeutic value of the studied compounds and further
demonstrate Cybin's strong research and development capabilities,"
said Doug Drysdale, Cybin's CEO.
About Cybin
Cybin is a leading biotechnology company focused on progressing
psychedelic therapeutics by utilizing proprietary drug discovery
platforms, innovative drug delivery systems, novel formulation
approaches and treatment regimens for psychiatric disorders.
Cautionary Notes and Forward-Looking
Statements
Certain statements in this news release related to the Company
are forward-looking statements and are prospective in nature.
Forward-looking statements are not based on historical facts, but
rather on current expectations and projections about future events
and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. These
statements generally can be identified by the use of
forward-looking words such as "may", "should", "could", "intend",
"estimate", "plan", "anticipate", "expect", "believe" or
"continue", or the negative thereof or similar variations.
Forward-looking statements in this news release include statements
regarding enhanced liquidity, the value of additional capital
markets exposure, access to institutional and retail investors, the
Company's new strategic brand messaging campaign, and psychedelic
drug development programs to potentially treat mental health
disorders. There are numerous risks and uncertainties that could
cause actual results and Cybin's plans and objectives to differ
materially from those expressed in the forward-looking information.
Actual results and future events could differ materially from those
anticipated in such information. These and all subsequent written
and oral forward-looking information are based on estimates and
opinions of management on the dates they are made and are expressly
qualified in their entirety by this notice. Except as required by
law, the Company does not intend to update these forward-looking
statements.
Cybin makes no medical, treatment or health benefit claims about
Cybin's proposed products. The U.S. Food and Drug Administration,
Health Canada or other similar regulatory authorities have not
evaluated claims regarding psilocybin, psychedelic tryptamine,
tryptamine derivatives or other psychedelic compounds or
nutraceutical products. The efficacy of such products have not been
confirmed by approved research. There is no assurance that the use
of psilocybin, psychedelic tryptamine, tryptamine derivatives or
other psychedelic compounds or nutraceuticals can diagnose, treat,
cure or prevent any disease or condition. Vigorous scientific
research and clinical trials are needed. Cybin has not conducted
clinical trials for the use of its proposed products. Any
references to quality, consistency, efficacy and safety of
potential products do not imply that Cybin verified such in
clinical trials or that Cybin will complete such trials. If Cybin
cannot obtain the approvals or research necessary to commercialize
its business, it may have a material adverse effect on Cybin's
performance and operations.
The NEO Exchange has neither approved nor disapproved the
contents of this news release and is not responsible for the
adequacy and accuracy of the contents herein.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210622005438/en/
Contacts
Investor Contacts:
Tim Regan/Scott Eckstein
KCSA Strategic Communications
Cybin@kcsa.com
Lisa M. Wilson
In-Site Communications, Inc.
lwilson@insitecony.com
Media Contacts:
John Kanakis
Cybin Inc.
John@cybin.com
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