Cybin Inc. (NYSEAMERICAN: CYBN) has announced its unaudited financial results and business updates for the second quarter ended September 30, 2021.
Cybin released CTB003 preclinical data
During the quarter, the company released CYB003 preclinical data. CYB003 is a novel deuterated psilocybin analog the company is developing as a possible alcohol use disorder and major depressive disorder treatment. Data shows that CYB003 has the potential of offering significant treatment benefits addressing limitations and challenges of oral psilocybin that include enhanced safety via less patient variability, low dosing due to enhanced brain penetration, and reduced clinic times because of rapid onset action and short duration of effect.
CEO of Cybin Doug Drysdale said, “Through CYB003, we believe that we have identified a potentially safer treatment option for patients with depression and addiction disorders that we expect to have strong intellectual property protection and a positive pharmacokinetic profile for patients, providers and payers. We plan to move through the ongoing, remaining preclinical studies quickly and submit an investigational new drug application and clinical trial application in the second quarter of 2022, in the U.S. and the U.K., respectively.”
Cybin launched EMBARK program for psilocybin assisted therapy
The company received FDA approval for its IND application to advance its feasibility trial leveraging kernel Flow quantitative neuroimaging tech to determine the psychedelic effect of Ketamine on cerebral cortex hemodynamics. Also, the company started the EMBARK Psychedelic Facilitator Training Program in partnership with the University of Washington.
Drysdale added, “We continue to evolve our value-driving, patient-centered approach to potential treatments for mental health and addiction through our commitment to advancing programs such as EMBARK, that aims to facilitate psilocybin-assisted psychotherapy for frontline workers impacted by the COVID-19 pandemic, as well as targeted research using the Kernel Flow neuroimaging technology that we expect will allow us to quantitively understand the psychedelic experience in the brain as it is happening. We believe these programs combined with our proprietary psychedelic new chemical entities have the potential to transform the treatment landscape for various psychiatric and neurological conditions.”