NEW YORK, March 24, 2021 /PRNewswire/ -- The push for psychedelic medicine is surging across North America and around the world. Scientific evidence supports the life-changing impact this safe and natural alternative has in treating mental illness of all types. New research from a number of organizations, including Johns Hopkins in Baltimore and Imperial College in London, which revealed that patients with depressive disorders had a clinically significant positive response to psilocybin-assisted therapy may represent a therapeutic breakthrough in treating multiple neurological disorders. As research expands, so does support for the revolutionary treatment, which has actually been around for centuries. As seen before, anecdotal opinions often trigger scientific research which then, with validation, drives growth in the industry as well investor interest. That's exactly what's occurring in the psychedelic therapeutics space, major upticks in both new companies entering the space as well as investors excited about the possibilities. Potential stakeholders in this game-changing new market are looking for companies that can weather the complex and expensive process of running clinical trials and bringing a drug to market. A leader in psychedelic therapeutic research and drug development, Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) (Profile) has a strong clinical pipeline with phase 2 trials underway, holds ten provisional patents, and boasts a proven leadership and a time-tested tradition. Other companies vying for position in the psychedelics medicine space include COMPASS Pathways Plc (NASDAQ: CMPS), Mind Medicine Inc (OTCQB: MMEDF) (NEO: MMED), Numinus Wellness Inc. (OTCPK: LKYSF) (NEO: NUMI) (TSX.V: NUMI) and Field Trip Health Ltd. (OTCQX: FTRPF) (CSE: FTRP). Each of these companies is focused on providing better treatments for the millions suffering from mental health issues.
- One in four people faces a mental or neurological disorder at some point in their lives.
- Current treatment options are inadequate, provide limited efficacy.
- Cybin's seasoned leadership team demonstrated prowess in research, finance and maximizing opportunities.
- Evidenced by its recent acquisition of Adelia, Cybin is committed to a strong, well-established IP portfolio.
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The Psychedelic Answers
More than 700 million people worldwide struggle with some form of mental illness, be it depression, addiction or post-traumatic stress disorder — and the people counted are just those who seek help. The actual number is likely much higher, given the high frequency of nondiagnosis as well as stigmas and lack of effective treatments. One in four people will face a mental or neurological disorder at some point in their lives, yet "current treatments and the dominant model of mental health care do not adequately address the complex challenges of mental illness, which accounts for roughly one-third of adult disability globally."
More and more people are looking outside conventional protocols for solutions, and they're finding those solutions in the world of psychedelic medicine, specifically psilocybins. Psilocybins are a hallucinogenic substance found in certain types of mushroom, dubbed magic mushrooms, and used for centuries by indigenous cultures for religious, spiritual and health-related purposes. As is often the case, the modern world is learning from the ancient as mounting evidence points to these prolific fungi as a source for long-sought-for help in mental health and neurological disorders.
A Legacy of Success
Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) is intent on becoming the leader in this exciting breakthrough for mental well-being. The company is at the forefront of the revolution in mental health therapeutics and is developing a new class of psychedelic medicines and treatment protocols. Driving its commitment to excellence is the company's impressive leadership team of experienced professionals with a combined 80-plus years in the pharmaceutical industry.
CEO Doug Drysdale has three decades in the health-care sector, successfully building and turning around three pharmaceutical companies, and co-founder Eric So has raised hundreds of millions for various companies, directing value creation and strategic exits. Cybin's executive team has the experience and critical insights to navigate through the complexities the promising psychedelics industry offers.
Staffed with luminaries, the company's scientific team, helped develop widely used drugs such as Allegra, Sabril, Anzemet and Vaniqa, and is the only scientific team to have successfully commercialized a psychedelic drug to date. In addition, the team has facilitated more than $2 billion in pharmaceutical sales alongside being collectively involved in 37 exits across the biotech sector and various other verticals. Cybin's leadership team has a rich legacy of success and has the proven ability to both guide the company and maximize opportunity.
Tested, Proven Fundraising Ability
The importance of being well funded can't be overlooked and is especially important for research and drug development. Cybin and its leadership team have demonstrated ability to raise funds for key, strategic steps necessary for success. Most recently, Cybin raised C$45 million in the largest go-public capital raise in the Canadian psychedelic sector and a total of C$88 million across Seed, Series-A and Series-B financing rounds.
Part of that capital was used in the company's strategic acquisition of Adelia Therapeutics Inc., whose novel psychedelic molecules allowed Cybin to diversity its portfolio and provided access to multiple future indications. The acquisition also resulted in Cybin obtaining a range of technologies related to novel therapeutic delivery methods and therapeutic regimens, along with six patent applications. The acquisition also brought with it an expanding library of psychedelic derivative drug development candidates, with the first lead compounds expected to enter clinical studies this year.
A Three-Pillar Pipeline
Cybin is committed to a strong, well-established IP portfolio and clinical pipeline, as indicated by the Adelia acquisition. The company leads the industry in therapeutic development programs and innovative drug delivery systems using a three-pillar strategy with its novel drug-discovery platform, optimal novel and proprietary drug-delivery systems, and an innovative treatment regimen.
The company's IP model is diverse, covering chemically synthesized molecules, delivery mechanisms, screeners, protocols and new drug formulations alongside a merger and acquisition strategy focused on acquiring proprietary technologies and novel compounds and molecules. In addition, Cybin holds worldwide exclusive rights to sublingual film delivery technology from Intelgenx for the delivery of psilocybin and other psychedelic molecules.
In addition, the company has key partnerships in place. Cybin recently partnered with neurotech pioneer Kernel to leverage its Kernel Flow, an innovative technology designed to detect hemodynamic changes in the brain that pulses light through the skull and into the bloodstream to measure how much oxygen the blood is carrying at any given time. Cybin anticipates that the quantitative measurements enabled by Flow may improve the development, delivery and scaling of its psychedelic therapeutics.
"Access to Kernel's innovative Flow technology adds another exciting dimension to the investigative work that Cybin is doing to develop breakthrough treatments for mental health disorders such as depression and addiction," said CEO Doug Drysdale. "Currently, clinical investigators rely on limited subjective information from patients. The ability to collect quantitative data from our sponsored drug development programs is potentially game-changing in terms of our ability to measure where psychedelics work in the brain in real time, and how we ultimately design our future therapeutics. . . . This new cornerstone component of our sponsored clinical programs follows a record-setting capital raise, listing on the NEO Exchange and the acquisition of Adelia Therapeutics Inc., which added significant scientific capabilities, novel molecules, delivery mechanisms and intellectual property."
Just this week Cybin announced that it had signed a drug-development agreement with Catalent Inc., the leading global provider of advanced delivery technologies, development, and manufacturing solutions for drugs, biologics, cell and gene therapies, and consumer health products. Cybin will be applying Catalent's proprietary Zydis(R) orally disintegrating tablet technology for the delivery of its novel deuterated tryptamine, or CYB003, a potential therapy for treatment-resistant psychiatric disorders.
"We are excited to partner with the team at Catalent with the aim of developing fast-acting, shorter-duration formulations of CYB003, recently acquired as part of our acquisition of Adelia Therapeutics," Drysdale said. "Our focus on reducing the need for health system resources, such as in-clinic therapist time, is an important part of our goal to create scalable, more accessible treatments for mental health disorders."
There's little doubt about the lack of effective treatments for mental health and neurological disorders. Scientific research is revealing a new, more effective approaches to address the massive unmet medical need. Leaders in this new frontier of medicine will likely be both appreciated by patients and rewarded by the markets.
Making a Profit and a Difference
Cybin isn't alone in the quest to make a difference in the mental health space. Savvy companies see an opportunity in psychedelic therapeutics and are jostling for position in an industry destined to make a mark.
COMPASS Pathways Plc (NASDAQ: CMPS) intends to accelerate patient access to evidence-based innovation in mental health. "We focus our efforts on those who are not helped by current treatments," states the company, which is developing its COMP360 psilocybin therapy designed to offer relief for the millions of people who suffer with treatment-resistant depression (TRD). The company is pioneering the development of this therapy, in which its proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support.
Mind Medicine Inc (OTC: MMEDF) (NEO: MMED) is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic-inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC.
MMED is also actively pursuing the development of LSD-assisted therapies through its Project Lucy, including a Phase 2b trial for anxiety disorders planned to be conducted fully through the FDA pathway.
Numinus Wellness Inc. (OTC: LKYSF) (NEO: NUMI) (TSX.V: NUMI) supports access to psychedelic-assisted psychotherapy through ketamine-assisted psychotherapy and special access and compassionate trials. Numinus partners with practitioners in providing clients with access to psychedelic-assisted psychotherapy, and through its recent acquisition of Mindspace, a Quebec-based psychedelic programming leader, Numinus now supports practitioners across three clinic locations.
Field Trip Health Ltd. (OTCQX: FTRPF) (CNX: FTRP), a global leader in the development and delivery of psychedelic therapies, recently partnered with WHOOP, a human performance company, to measure the biometric effects of Field Trip's psychedelic therapies. Field Trip is opening Field Trip Health centers across North America and Europe for the delivery of psychedelic therapies, which have demonstrated significant efficacy in treating mental health conditions such as depression, anxiety and PTSD.
Surging interest in psychedelic therapeutics has sparked rising involvement from savvy companies interested in making both a profit and a difference as well as investors looking for the next space to strategically make a move. Companies such as Cybin that offer the science, the leadership and the expertise needed to succeed have a good chance of making a real difference in the nascent industry.
For more information about Cybin, please visit Cybin Inc.
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