- Composition of matter patent
strengthens proprietary position of CYB004 as a deuterated DMT
compound until 2041-
TORONTO, Canada -- February 9, 2022 -- InvestorsHub
NewsWire -- Cybin Inc. (NEO:CYBN) (NYSE American:CYBN)
("Cybin" or the "Company"),
a biopharmaceutical company focused on progressing "Psychedelics to
TherapeuticsTM", today announced that the U.S. Patent
and Trademark Office ("USPTO") has granted U.S. patent 11,242,318
to the Company's investigational deuterated dimethyltryptamine
("DMT") compound CYB004. The allowed claims include a range of
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 and protects the CYB004
drug substance as a putative new chemical entity.
CYB004 is Cybin's lead investigational proprietary DMT compound.
In preclinical studies, CYB004 has demonstrated potential efficacy
at lower doses while also increasing the duration of drug effect
providing a therapeutic profile that may alleviate the common
negative experiences associated with classical DMT.
"From the outset, Cybin has focused on creating differentiated
compounds that harness the potential efficacy of classical
psychedelics, while addressing the known limitations necessary for
these molecules to become approvable therapeutics. We are extremely
pleased to receive a composition of matter patent for CYB004,
adding strong protection for our growing intellectual property
portfolio of psychedelic-based compounds, supporting and protecting
the investments that we are making in our CYB004 program" said Doug
Drysdale, Chief Executive Officer of Cybin. "This patent is both
rewarding and timely as we prepare to initiate a pilot study for
CYB004 in the third quarter of 2022 and work tirelessly to develop
an important and alternative treatment option for the millions of
people suffering from anxiety disorders."
Cybin plans to submit a clinical trial application for a pilot
study of CYB004 in the second quarter of calendar year 2022 and
expects to initiate the pilot study in the third quarter of
calendar year 2022.
The Company 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.
Contacts
Investors & Media:
Leah Gibson
Vice President, Investor Relations
Cybin Inc.
leah@cybin.com
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