Cybin (NYSE American: CYBN) (NEO: CYBN), a clinical-stage biopharmaceutical company committed to revolutionizing mental health care by developing new and innovative next-generation psychedelic-based treatment options, today announced a poster presentation at Neuroscience 2023. The event, hosted by the Society for Neuroscience (“SFN”), is taking place Nov. 11-15, 2022, in Washington, D.C. “It is always exciting to participate in this annual gathering of dedicated neuroscientists from around the world and to sharing our research as part of the ‘Treatment and Drugs for Mood Disorders’ session,” said Geoff Varty, Ph.D., head of research and development at Cybin. “In the psychedelics space, there has been little focus on the development of 2C-X phenethylamines, despite encouraging anecdotal human data and some academic exploration. Our studies were designed to investigate the clinical potential of novel 2C-X phenethylamines by exploring their structure-activity relationships to identify novel 5-HT 2 receptor ligands with unique pharmacodynamic and pharmacokinetic properties that may have therapeutic utility in treating neuropsychiatric or neurological disorders.”
In addition, the company yesterday announced unaudited financial results for its second quarter ended Sept. 30, 2023, recent business highlights and the closing of its underwritten offering in which Cybin issued an aggregate of 66,666,667 units of the company, each at a price of US$0.45, for aggregate gross proceeds of US$30 million. Cybin CEO Doug Drysdale said of the Q2 results and the company’s positioning, “Advancing our clinical programs with the goal of changing the treatment landscape in mental health has always been Cybin’s mission. We have made enormous progress during the past quarter, with ample momentum to carry us through year-end and into 2024. We are actively gathering important data from CYB003, our deuterated psilocybin analog program, and CYB004 and SPL028, our deuterated DMT programs, with topline readouts expected before the end of 2023. As a company, we are proud of our consistent progress, robust patent portfolio, skilled and dedicated team of drug development experts, and believe we are well-positioned to progress our pipeline toward potential regulatory approval.”
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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 health care 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. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland. For company updates and to learn more about Cybin, visit www.Cybin.com.
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