Cybin Inc. (NYSE American CYBN) (NEO: CYBN)
Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) is a clinical-stage biopharmaceutical company focused on progressing psychedelics into therapeutics, offering a new standard of care for mental health disorders and improving patient outcomes. The company is led by a team of leading scientific and industry experts with deep roots in biotech, psychedelics, and mental health, to translate top-tier science into potential best-in-class therapeutics.
Cybin takes a holistic approach to psychedelic therapeutics which encompasses three pillars: drug discovery, drug delivery and innovative treatment. This ‘bench to bedside’ approach to care enables Cybin to translate novel research into potential treatments for a variety of mental health conditions, such as major depressive disorder, alcohol use disorder and therapy resistant psychiatric disorders.
- Led by CEO Doug Drysdale
- 30 years of experience in the health care sector
- Chaired the board of directors of a NASDAQ-listed company and, as a CEO for the past 13 years, has built and turned-around four pharmaceutical companies
- Completed 15 corporate acquisitions across three continents and has raised $4 billion of both public and private capital
- Former Head of M&A at Actavis Group (Actavis was sold to Watson Pharmaceuticals in 2012 for €4.25 billion)
- Experienced scientific team
- The only scientific team in the industry that has successfully developed a commercial psychedelic drug
- Facilitated billions in pharmaceutical sales
- Successfully helped develop widely used drugs such as: Allegra, Sabril, Anzemet & Vaniqa
- 300+ combined peer reviewed publications by scientific leadership include work in addiction and psychedelics
- Team collectively involved in 37 exits across the biotech sector and various other verticals
- Overseen 60+ IND programs with FDA
- Team pedigree: Merck, Elan, GSK, Sanofi, Eli Lilly and UCB
Product Offering and Pipeline
Cybin currently has three drug development programs: CYB003, CYB004 & CYB005.
- CYB003 is the company’s biopharmaceutial version of psilocybin aimed at treating major depressive disorder and alcohol use disorder. Preclinical data has demonstrated that CYB003 has less variability, faster onset, shorter duration and better brain penetration than oral psilocybin, which in turn creates a better experience for both the patient and the therapist.
- Cybin is also working on other novel psychedelic compounds, such as DMT, MDMA and other analogues, that will have improved pharmacokinetic profiles while retaining the efficacy of the original molecules.
- The company is building a portfolio of proprietary deuterated molecules, which are more stable, improved and expected to result in more scalable treatments, as compared to peers.
- To date, Cybin has facilitated over 100 pre-clinical studies on a portion of its molecules within its discovery pipeline. These studies have been conducted through in vitro and in vivo, with many promising results allowing for full IND-enabling studies on certain molecules.
Cybin has a strong competitive advantage in the industry with 50 different proprietary psychedelic molecules and growing. The company’s IP portfolio, technology rights and provisional patents include:
- A provisional patent application filed for an oral film delivery mechanism
- A provisional patent application filed for nebulization technology
- A patent for deuterated DMT and multiple patent applications filed for other deuterated psychedelic molecules and analogs
- A discovery pipeline of tryptamines and phenylethylamines alongside certain metabolites
- A patent application filed for platforms that are expected to create supportive treatment regimens
Cybin X Kernel
On January 11, 2021, Cybin announced its entry into an agreement with neurotech pioneer HI LLC (dba Kernel) to leverage its innovative Kernel Flow technology for Cybin-sponsored clinical development.
Kernel Flow is a full-head coverage, time-domain functional near-infrared spectroscopy system designed to detect hemodynamic changes in the brain. The platform pulses light through the skull and into the bloodstream in order to measure how much oxygen the blood is carrying at any given time. Kernel Flow is expected to facilitate further and more detailed research into psychedelic therapeutic offerings for those suffering from mental health disorders.
Through this partnership with Kernel, Cybin is able to:
- Quantify brain activity in real time during psychedelic experiences. The absence of this data has been a limitation in the progression of new molecules targeting neurological disorders.
- Open a new frontier in psychedelic therapeutics by acquiring longitudinal brain activity before, during and after a psychedelic experience, enabling quantification of what was previously subjective self-reporting.
- Leverage time-domain functional near-infrared spectroscopy, a gold standard optical method for detecting hemodynamics of the cerebral cortex.
Market Outlook for Psychedelic Therapies
Cybin’s rich IP portfolio could help position the company in a prominent role in the expanding psychedelic therapies market.
Although more than 900 million people globally suffer from some sort of mental illness, according to the World Health Organization, Cybin is initially targeting two indications with its active drug programs – major depressive disorder and alcohol use disorder.
- The global treatment market for mental disorders is estimated at $2.5 trillion, including $800 billion in direct economic costs, according to the National Centre for Biotechnology Information.
- In the U.S., the direct and indirect economic costs of mental disorders are estimated at $467 billion by the National Institute of Mental Health.
- An estimated 17.3 million adults in the United States had at least one major depressive episode. This number represented 7.1% of all U.S. adults.
- Approximately 5.8 percent or 14.4 million adults in the United States ages 18 and older had AUD in 2018. This includes 9.2 million men and 5.3 million women.
- The U.S. psychedelic drugs market was valued at $2.1 billion in 2019 and is expected to reach nearly $6.9 billion by 2027, accelerating at a CAGR of 16.3 percent, per Data Bridge Market Research.
Doug Drysdale is the Chief Executive Officer of Cybin Inc. He is an experienced corporate director and CEO, having chaired the board of directors of a Nasdaq-listed company and led turnarounds at three pharmaceutical companies as CEO. With over 30 years of experience in the health care sector, Mr. Drysdale has formed cohesive management teams, recruited board members, completed 15 acquisitions across three continents and raised $4 billion in private and public capital. He holds a bachelor’s degree in microbial and molecular biology from the University of East Anglia in the United Kingdom and was recognized as the ‘Entrepreneur of the Year’ by Ernst and Young in 2012.
Eric So is Co-Founder, Executive Chairman and President of Cybin. He is the Co-Founder and current Managing Director of Trinity Venture Partners Inc., a boutique merchant bank. He is a veteran founder, investor, operator and advisor to disruptive companies. He began his career practicing in the areas of corporate commercial securities, finance and mergers & acquisitions at a leading international legal firm. Mr. So has a Bachelor of Science with a major in anatomy and cell biology and a minor in psychology from McGill University. He has a Bachelor of Laws from the University of Windsor.
John Kanakis is Cybin’s Co-Founder and SVP of Business Development. He is also the Co-Founder and Managing Director of Trinity Venture Partners Inc. He is the Co-Founder of several start-up companies across various sectors. Mr. Kanakis has raised over $100 million for the start-ups of which he has been a part and brings over 10 years of experience in medical device manufacturing and regulatory frameworks to Cybin.
Paul Glavine is the Co-Founder and Chief Operating Officer of Cybin. He is also the Co-Founder of Global Canna Brands, which was granted the first-ever tier 3 cultivation license in Jamaica. His first cannabis start-up, Truverra, was sold to The Supreme Cannabis Company (TSX: FIRE). He has advised on M&A and other financial transactions totaling over $50 million. He is a serial entrepreneur and investor with vast experience in the biotech and cannabis industries.
Alex Nivorozhkin, Ph.D., is Cybin’s Chief Scientific Officer. He is a lead NCE inventor of multiple successfully partnered drug discovery and development programs and a technology developer of proprietary formulations for CNS drugs. Dr. Nivorozhkin is a seasoned medicinal chemist, drug delivery expert and founder of multiple biotech companies.
Michael Palfreyman, Ph.D., is the company’s Chief R&D Officer. He brings three decades of preclinical/clinical development experience to the Cybin team, including time with Scriptgen, EnVivo Pharma, Sanofi, GSK, Amorsa Therapeutics and others. Dr. Palfreyman has successfully led multiple IND filings and clinical programs, and he boasts a significant portfolio of CNS therapeutics patents and commercial products.
Brett Greene is Cybin’s Chief Innovation Officer. He served as a research administrator for the Center for Drug Discovery (one of the top cannabinoid and serotonin research centers in the world) for over a decade. Greene is a recognized leader in the field of psychedelics and has co-managed more than $80 million in federal funding for cannabinoid and serotonin research. A co-founder of Psymposia, Greene also co-managed the NIDA-sponsored Chemistry & Pharmacology of Drug Abuse (CPDA) conference for five years.
Alex Belser is the company’s Chief Clinical Officer. Mr. Belser is a licensed psychologist, clinical supervisor and psychedelic researcher at Yale. He has been active in the psychedelic research community for 20 years and has conducted clinical research with psilocybin and MDMA for a variety of indications. Mr. Belser’s research has been featured in The New York Times, The Atlantic, The New Yorker, The Guardian and VICE, as well as in Michael Pollan’s book, How to Change Your Mind.
Eric Hoskins is Cybin’s Governance Committee Chair. He served as Ontario health minister from 2014 to 2018, maintaining responsibility for one of the largest health care systems in North America. Mr. Hoskins is a former elected Member of Ontario Provincial Parliament with cabinet positions in health, economic development and trade, children and youth services, and immigration. He brings to the Cybin team more than 30 years of experience in public policy, complex diplomacy, international affairs, health care, media and economic development at the intersection of business, politics and complex social and political circumstances. Hoskins is a proven negotiator and navigator at the highest levels of government and bureaucracy.