PsyBio
Therapeutics
Increases
Intellectual Property Portfolio
with Filing of Novel
Genetic
Optimization Pathways for
Psychedelic Medication
Biosynthesis
Patent portfolio now includes
four
pending
provisionals
and
one
pending non-provisional patent application
OXFORD, OH and COCONUT
CREEK, FL, May 12, 2021 -- InvestorsHub
NewsWire - PsyBio Therapeutics
Corp.
(TSXV:PSYB) (OTC Pink:PSYBF) ("PsyBio"
or the "Company"),
an intellectual
property based biotechnology
company
pioneering the
next generation of targeted psychoactive
medications, announced today that it has filed a new provisional patent
application
with the U.S.
Patent and Trademark Office entitled Optimized
Methods for the Production of Psilocybin and its
Intermediates or Side
Products. This filing increases the
Company's licensed patent portfolio to
four
pending
provisional
patents and one pending
non-provisional patent
with the U.S.
Patent and Trademark Office as the Company
continues to
build its platform around bacterial-based synthesis of
therapeutic
tryptamines.
Psychedelics have shown
promise for the potential treatment of a myriad of health
challenges including mental health
disorders such as post-traumatic stress disorder, anxiety,
treatment resistant depression, and addiction. These small biomolecules are
difficult to mass produce through chemical means or through
extraction from the native organism. By utilizing genetically modified
bacteria, PsyBio has developed a patent pending
methodology to
produce high concentrations of
targeted potential therapeutics through fermentation
with the goal
of developing them for potential
human therapy. The Company
is tech
transferring the first two of its lead compounds,
psilocybin and norbaeocystin,
into process development and scaled manufacturing.
"By building
upon
PsyBio's
platform
technology, we are in a unique position to leverage the value of naturally
occurring tryptamines
by utilizing
their innate synergy to build potentially
improved therapeutics targeted across a wide range of health
challenges," stated Dr. Michael
Spigarelli, Chief Medical Officer
of PsyBio. "Based on the established
literature, successful preclinical results, and recent technology
transfer to globally acclaimed development facilities, we
are preparing the first of
several packages for submission
to the U.S. Food
and Drug Administration (the "FDA")
in the coming quarter in anticipation of upcoming clinical
trials."
"PsyBio has
assembled,
by hiring and collaboration, a
premier
team of
engineers, scientists
and
regulatory experts dedicated to discovery,
optimization, and development of new therapeutics based on
tryptamine inspired molecules for a myriad of health challenges,"
stated Evan
Levine,
Chief Executive
Officer of PsyBio. "We continue to utilize sound
scientific methodologies to discover new potential medications
by resourcing
our areas of
expertise in metabolic engineering, chemistry,
biology, and neuropsychology.
The team has
published and filed intellectual property on the most
efficient methods to produce tryptamine compounds
based on
published data and continually builds on
progress through targeted
research and
development efforts with the Jones and
McMurray Labs at Miami University."
About
PsyBio
Therapeutics
Corp.
PsyBio is a biotechnology company
developing novel psychoactive therapeutics
produced by
genetically modified bacteria for the treatment of mental health
and other disorders. The team has experience in drug discovery
based on synthetic biology as well as clinical and regulatory
experience moving drugs through human studies and regulatory
protocols. Research and development is currently ongoing for
naturally occurring psychoactive tryptamines originally discovered
in different varieties of hallucinogenic
mushrooms, other
tryptamines, phenethylamines,
and combinations
thereof. The Company is also researching and developing new
non-natural chemical entities
which may have
unique therapeutics properties.
Cautionary
Note Regarding Forward-Looking
Statements
This press release contains
statements that constitute "forward-looking information"
("forward-looking
information") within the meaning of the
applicable Canadian securities legislation. All statements, other
than statements of historical fact, are forwardlooking
information and
are based on expectations, estimates and projections as at the date
of this news release. Any statement that discusses predictions,
expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often but not always using phrases
such as "expects", or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans", "budget",
"scheduled", "forecasts", "estimates", "believes" or "intends" or
variations of such words and phrases or stating that certain
actions, events or results "may" or "could", "would", "might" or
"will" be taken to occur or be achieved) are not statements of
historical fact and may be forward-looking information. In
disclosing the forward-looking information contained in this press
release, the Company has made certain assumptions, including
that: PsyBio will be successful in
protecting its intellectual property and filing new patent
applications within the next year; PsyBio will be successful in
discovering new valuable target molecules; PsyBio will be successful in
collaborating with the Jones and McMurray
Labs; PsyBio will be successful in
obtaining Investigational New
Drug applications and will be able
to obtain all necessary approvals for clinical trials;
PsyBio's
technology will
be safe and effective; and that drug development involves long lead
times, is very expensive and involves many variables of
uncertainty. Although the Company believes
that the expectations reflected in such forward-looking information
are reasonable, it can give no assurance that the expectations of
any forward-looking information will prove to be correct. Known and
unknown risks, uncertainties, and other factors which may cause the
actual results and future events to differ materially from those
expressed or implied by such forwardlooking
information. Such
factors include, but are not limited to: compliance with extensive
government regulations; domestic and foreign laws and regulations
adversely affecting PsyBio's business and results of
operations; decreases in the prevailing process for psilocybin and
nutraceutical products in the markets in which PsyBio operates; the impact of
COVID-19; and general business, economic, competitive, political
and social uncertainties. Accordingly, readers should not place
undue reliance on the forwardlooking
information
contained in this press release. Except as required by law, the
Company disclaims any intention and assumes no obligation to update
or revise any forward-looking information to reflect actual
results, whether as a result of new information, future events,
changes in assumptions, changes in factors affecting such
forward-looking information or otherwise.
PsyBio makes no medical, treatment
or health benefit claims about PsyBio's proposed products. The
FDA
or other similar
regulatory authorities have not evaluated claims regarding
psilocybin and other next generation psychoactive compounds. The
efficacy of such products have not been confirmed by
FDA-approved research. There is no assurance that the use of
psilocybin and other psychoactive compounds can diagnose, treat,
cure or prevent any disease or condition. Vigorous scientific
research and clinical trials are needed. PsyBio has not conducted clinical
trials for the use of its intellectual
property.
Any references to quality, consistency, efficacy and safety of
potential products do not imply that PsyBio verified such in clinical
trials or that PsyBio will complete such trials.
If PsyBio cannot obtain the approvals
or research necessary to commercialize its business, it may have a
material adverse effect on the PsyBio's performance and
operations.
The TSX
Venture Exchange (the "TSXV")
has neither approved nor disapproved the contents of this news
release. Neither the TSXV nor
its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
SOURCE
PsyBio
Therapeutics
Corp.
For further
information contact:
Evan
Levine
CEO,
PsyBio
Therapeutics
Corp.
t:
226.286.0348
e: ir@psybiolife.com
Investor
Enquiries:
Valter
Pinto
and Tim
Regan
KCSA
Strategic
Communications
t:
212.896.1254
e: valter@kcsa.com
