- Expands intellectual property
portfolio and strengthens position as leading innovator in
developing putative psychedelic compounds -
TORONTO, Canada -- December 15, 2021 -- InvestorsHub NewsWire
-- Cybin Inc. ( NEO:CYBN)
( NYSE
American:CYBN) (" Cybin" or the
" Company"), a biopharmaceutical company
focused on progressing "Psychedelics to
Therapeutics TM" today announced that it has been
awarded a Notice of Allowance from the U.S. Patent and Trademark
Office ("USPTO") for patent application No. 17/394,038 related to
CYB004, the Company's investigational deuterated psychedelic
tryptamine compound for the potential treatment of anxiety
disorders. The allowed claims include other forms of deuterated
psychedelic tryptamine, notably certain deuterated forms of DMT and
5-MeO-DMT. The patent, which is expected to expire in 2041
before consideration of any patent term extensions, covers
composition of matter for the CYB004 drug substance as a putative
new chemical entity.
"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
Doug Drysdale, Chief Executive Officer of Cybin. "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."
According to the U.S. National Institute of Mental Health,
anxiety disorders are one of the most common mental illnesses in
the U.S., affecting 40 million adults, or approximately 18% of the
population every year1. 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
treatments2. 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.
"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,"
concluded Drysdale.
Cybin continues to pursue multiple opportunities to secure and
support its patent position for research and development evaluating
deuterated tryptamines for future psychedelic-based treatments for
mental illnesses.
About Cybin
Cybin is a leading ethical biopharmaceutical company, working with
a network of world-class partners and internationally recognized
scientists, 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, 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. Patent filings described
herein are held by Cybin IRL Limited, a wholly owned subsidiary of
Cybin.
Cautionary Notes and Forward-Looking
Statements
Certain statements in this press release constitute forward-looking
information. All statements other than statements of historical
fact contained in this press release, including, without
limitation, statements regarding Cybin's future, strategy, plans,
objectives, goals and targets, and any statements preceded by,
followed by or that include the words "believe", "expect", "aim",
"intend", "plan", "continue", "will", "may", "would", "anticipate",
"estimate", "forecast", "predict", "project", "seek", "should" or
similar expressions or the negative thereof, are forward-looking
statements. Forward-looking statements in this news release include
statements regarding the Company's proprietary drug discovery
platforms, innovative drug delivery systems, novel formulation
approaches and treatment regimens to potentially treat psychiatric
disorders.
These forward-looking statements are based on reasonable
assumptions and estimates of management of the Company at the time
such statements were made. Actual future results may differ
materially as forward-looking statements involve known and unknown
risks, uncertainties, and other factors which may cause the actual
results, performance, or achievements of the Company to materially
differ from any future results, performance, or achievements
expressed or implied by such forward-looking statements. Such
factors, among other things, include: implications of the COVID-19
pandemic on the Company's operations; fluctuations in general
macroeconomic conditions; fluctuations in securities markets;
expectations regarding the size of the psychedelics market; the
ability of the Company to successfully achieve its business
objectives; plans for growth; political, social and environmental
uncertainties; employee relations; the presence of laws and
regulations that may impose restrictions in the markets where the
Company operates; and the risk factors set out in the Company's
management's discussion and analysis for the period ended September
30, 2021 and the Company's listing statement dated November 9,
2020, which are available under the Company's profile
on www.sedar.com and with the U.S. Securities
and Exchange Commission on EDGAR at www.sec.gov. Although the forward-looking statements
contained in this news release are based upon what management of
the Company believes, or believed at the time, to be reasonable
assumptions, the Company cannot assure shareholders that actual
results will be consistent with such forward-looking statements, as
there may be other factors that cause results not to be as
anticipated, estimated or intended. Readers should not place undue
reliance on the forward-looking statements and information
contained in this news release. The Company assumes no obligation
to update the forward-looking statements of beliefs, opinions,
projections, or other factors, should they change, except as
required by law.
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. The efficacy
of such products has not been confirmed by approved research. There
is no assurance that the use of psilocybin, psychedelic tryptamine,
tryptamine derivatives or other psychedelic compounds can diagnose,
treat, cure or prevent any disease or condition. Rigorous
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.
Neither the Neo Exchange Inc. nor the NYSE American LLC stock
exchange have approved or disapproved the contents of this news
release and are not responsible for the adequacy and accuracy of
the contents herein.
1)
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Bandelow B, Michaelis S. Epidemiology of anxiety disorders
in the 21st century. Dialogues Clin Neurosci. 2015;17(3):327-335.
doi:10.31887/DCNS.2015.17.3/bbandelow
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2)
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Ansara ED. Management of treatment-resistant generalized
anxiety disorder. Ment Health Clin. 2020;10(6):326-334. Published
2020 Nov 5. doi:10.9740/mhc.2020.11.326
|
Contacts
Investor & Media Contacts:
Leah Gibson
Vice President, Investor Relations
Cybin Inc.
leah@cybin.com
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