Benzinga | Nov 9, 2021 11:19AM EST

Cybin Announces Positive Data Showing Effectiveness of Psilocybin To Treat Depression

Cybin Inc (NYSE:CYBN), a Toronto-based biotechnology company focused on utilizing psychedelic drugs as an alternative to traditional psychiatric drugs, announced positive pre-clinical data, indicating that its drug, CYB003 showed strong signs of cognitive improvement in patients with Major Depressive Disorder (MDD).

Cybin chemically engineered and developed CYB003 to address some of the shortcomings of oral psilocybin as a treatment for mental health, including slow onset, high variability and short duration of action.

CYB003 has shown significant advantages over oral psilocybin, according to Cybin.

Some of those advantages include:

-Low variability in plasma levels compared to oral psilocybin

-Faster onset of action compared to oral psilocybin

-Longer total duration of action compared to oral psilocybin

-Rapid brain distribution compared to oral psilocybin

"While we are all encouraged by the benefits of psilocybin, we need to transparently and openly discuss its limitations if we are to translate psychedelics to therapeutics for patients in need." Doug Drysdale, Cybin's CEO said. "The majority of current clinical studies are based on psilocybin. We have taken the necessary steps to potentially unlock the powerful benefits of psychedelics and engineer a superior molecule as demonstrated by the data. We are on a mission to make ethical, safe scientific progress to advance the care and treatment of mental health patients. Our goal has always been to be a leader in creating the best therapy for patients, today we move one step closer."

Read the full press release here: https://www.benzinga.com/markets/cannabis/21/11/23960238/cybins-cyb003-demonstrates-advantages-over-oral-psilocybin-for-mental-health



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