Cybin Completes Acquisition to Become International Leader in Novel Psychedelic Therapeutics
Cybin, Inc, (NYSE American:CYBN) has completed its acquisition of Small Pharma, creating an international leader in clinical-stage novel psychedelic therapeutics. Together, the companies’ portfolios create the industry’s largest, most advanced, well-protected deuterated DMT program. Cybin’s two proprietary, advanced clinical programs in development for depression and anxiety disorders have demonstrated safety and efficacy.
Doug Drysdale, Cybin’s Chief Executive Officer, said, “”The closing of this transaction marks a significant milestone in Cybin’s growth trajectory, firmly establishing us as a leader in the psychedelics sector. With the industry’s largest, most advanced and well-protected deuterated N,N-dimethyltryptamine (dDMT) pipeline program and topline efficacy data for CYB003, our deuterated psilocybin analog program expected this quarter, Cybin is well positioned with two advanced clinical programs for the treatment of depression and anxiety disorders with demonstrated safety and efficacy.”
George Tziras, Chief Executive Officer of Small Pharma, commented, “For the past 8 years, Small Pharma has worked to develop transformative medicines for patients struggling with depression. I am incredibly proud of what we as a team have achieved. This transaction marks the start of an exciting new chapter for Small Pharma as we bring to Cybin a complementary portfolio and a talented team. We firmly believe the combined company will be well positioned to accelerate innovation in the industry and deliver enhanced value for our shareholders and better outcomes for patients.”
The company has also achieved a number of patent milestones this week. Today, Cybin announced it had been granted a patent by the European Patent Office, protecting its proprietary deuterated psilocybin analog and N, N-dimethyltryptamine (DMT) programs. This week the United States Patent and Trademark Office issued two patent grants.
Cybin now has one of the most robust intellectual property portfolios in the psychedelic drug development sector.
Cybin’s CYB003 has completed dosing in a Phase 2 trial in major depressive disorder. Interim findings have demonstrated that CYB003 led to a robust psychedelic response in participants at low doses, while maintaining a safe and well-tolerated therapeutic profile.
Cybin’s proprietary novel deuterated DMT compounds, CYB004 and SPL028, are each currently in Phase I clinical trials. These compounds target an extended DMT psychedelic experience while retaining a short-duration drug profile that could provide optimized dose formulations for different administration routes and distinct therapeutic benefits for patients.
About Cybin, Inc.
Cybin is a clinical-stage biopharmaceutical company on a mission to create safe and effective psychedelic-based therapeutics to address the large unmet need for new and innovative treatment options for people who suffer from mental health conditions.
Cybin’s goal of revolutionizing mental healthcare is supported by a network of world-class partners and internationally recognized scientists aimed at progressing proprietary drug discovery platforms, innovative drug delivery systems, and novel formulation approaches and treatment regimens. The Company is currently developing CYB003, a proprietary deuterated psilocybin analog for the treatment of major depressive disorder and CYB004, a proprietary deuterated DMT molecule for generalized anxiety disorder and has a research pipeline of investigational psychedelic-based compounds.