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Cybin Inc. (NYSE American: CYBN) (NEO: CYBN)
Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) is focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
The company is on a mission to revolutionize mental health care.
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 has four drug development programs CYB001, CYB003, CYB004 & CYB005.
Cybin is using psilocybin as the basis for its first new anti‐depressant pharmaceutical drug.
Cybin is also focused 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 50+ 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's Phase II trials on CYB001 will assess the drug's effectiveness as a treatment for Major Depressive Disorder, as well as helping to determine the proper dosage.
Cybin currently holds 13 patents filings 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
Multiple patent applications filed for 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's upcoming sponsored clinical work.
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 U.S. psychedelic therapies market.
Although 700 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 (AUD).
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.
Investment Considerations
Cybin Inc. currently has four molecules/technologies in its clinical pipeline in various stages of development with a robust discovery pipeline.
The company's management team is comprised of leaders with experience in various aspects of the pharmaceutical and innovative therapeutics market.
Recent studies have shown promising effects in the use of psilocybin, DMT and LSD therapies for psychiatric disorders in patients.
The company holds 13 patent filings for various delivery mechanisms and related technologies.
Cybin's therapeutic advances are catering to a global market of over 700 million people affected by mental illness, with an initial focus on major depressive disorder and alcohol use disorder.
The U.S. psychedelic therapies market is expected to expand significantly, reaching $6.9 billion by 2027, as the prevalence of depression and mental disorders continues to increase.
Cybin has raised over C$120 million to date; it is well-funded to progress clinical trials, M&A and IP strategies.
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