Cybin Inc. (NEO: CYBN) Establishing Psychedelic-based Drug Discovery Platform to Treat Mental Health Disorders
Dec 18th, 2020
More than 700 million people worldwide are affected with some form of mental illness, addiction or eating disorder, representing about 13% of total disease burden. In reality, the worldwide picture is a bit murky, considering the high frequency of nondiagnosis as well as lack of treatment, even in the most developed countries. Advances in medicine to treat these conditions of the brain have been elusive, as conventional drugs that treat symptoms and not underlying causes remain the most popular. There are reasons to be optimistic about the future, though, underscored by increased research activity surrounding psychedelics. This is the area of focus for Cybin Inc. (NEO: CYBN) (Profile), which this week acquired Adelia Therapeutics, a transformational move that broadened addressable indications in its pipeline and strengthened its scientific team. Cybin has a three-pillar approach, its initial sights set on treating major depression disorder (“MDD”) now expanded to address additional indication as well through innovative psychedelic therapeutics development and unique delivery technologies. Cybin stands shoulder-to-shoulder with peers striving for a world of better mental well-being such as COMPASS Pathways Plc (NASDAQ: CMPS), Mind Medicine Inc (OTC: MMEDF) (NEO: MMED), Numinus Wellness Inc. (OTC: LKYSF) (NEO: NUMI) (TSX.V: NUMI) and HAVN Life Sciences (OTC: HAVLF), all of which are developing innovative approaches to bring new psychedelic-based therapies to patients in need.