Cybin (NEO: CYBN) (NYSE American: CYBN), a clinical-stage biopharmaceutical company committed to revolutionizing mental healthcare by developing new and innovative psychedelic-based treatment options, is reporting on its capital and upcoming clinical milestones. As part of the report, the company noted it has C$70M in potential funding raised through a combination of a common share purchase agreement and current “at-the-market” equity program. These funds support upcoming clinical milestones related to the company pipeline, including CYB003, a proprietary deuterated psilocybin analog for the potential treatment of MDD, and CYB004, a proprietary deuterated N,N-dimethyltryptamine (“DMT”) molecule being evaluated for the treatment of Generalized Anxiety Disorder. The report also noted that Cybin’s intellectual property portfolio includes more than 50 granted or pending patent applications across 6 patent families, with issued patents and pending applications covering an array of molecules, drug combinations and delivery mechanisms. “The second half of 2023 will be pivotal for Cybin as we expect topline clinical data readouts from both our phase 1/2a trial of CYB003, our deuterated psilocybin analog, and from our phase 1 trial of CYB004, our deuterated DMT molecule,” said Cybin CEO Doug Drysdale in the press release. “Through a combination of the company’s recently announced common share purchase agreement from Lincoln Park Capital Fund and the ongoing at-the-market offering, the company has done an admirable job of securing access to capital in light of current market conditions. The potential access to capital should provide Cybin with the cash runway needed to complete these value-driving clinical milestones and enable us to continue focusing on clinical execution with the ultimate goal of bringing improved therapeutic options to patients in need.”
To view the full press release, visit https://ibn.fm/ewNFC
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, 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; the company also has a research pipeline of investigational psychedelic-based compounds. For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://ibn.fm/CYBN
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