-Enrollment expected to begin in
early 2022 -
TORONTO, Canada -- January 11, 2022 -- InvestorsHub
NewsWire -- Cybin Inc. (NEO:CYBN) (NYSE American:CYBN) ("Cybin" or the "Company"),
a biopharmaceutical company focused on progressing "Psychedelics to
Therapeutics™", today announced that an Institutional
Review Board ("IRB") has approved a Company-sponsored feasibility
study using Kernel's quantitative neuroimaging technology, Kernel
Flow, to measure ketamine's psychedelic effect on cerebral cortex
hemodynamics.
As part of Cybin's sponsorship of the feasibility study, the
Company will retain an exclusive interest in any innovations that
are discovered or developed through its independent analysis of the
study findings.
"By leveraging the Kernel Flow technology, we may have the
ability to measure longitudinal brain activity before, during and
after a psychedelic experience, and collect quantitative data as
opposed to subjective patient reporting," said Doug Drysdale,
Cybin's Chief Executive Officer. "We believe the results of this
study will lead to future studies that will test the effectiveness
of psychedelic treatments and will further support our mission to
develop psychedelics into therapeutics."
The study received U.S. Food and Drug Administration ("FDA")
Investigational New Drug ("IND") authorization in October 2021 and
is expected to begin enrollment in early 2022.
About Kernel Flow
Kernel Flow uses pulsed light instead of continuous wave light
to increase measured brain information. In contrast with
electroencephalography ("EEG") electrodes that usually require gel
on the head or functional magnetic resonance imaging ("fMRI")
studies that require a participant to lie in a scanner, Kernel Flow
is easily wearable. The entire system is the size and look of a
bicycle helmet and could, in the future, be more broadly used for
neuroscientific or physiological studies of brain activity during
psychedelic use.
About Cybin
Cybin is a leading ethical biopharmaceutical company, working
with a network of world-class partners and internationally
recognized scientists, on a mission to create safe and effective
therapeutics for patients to address a multitude of mental health
issues. Headquartered in Canada and founded in 2019, Cybin is
operational in Canada, the United States, United Kingdom and
Ireland. The Company is focused on progressing Psychedelics to
Therapeutics™ by engineering proprietary drug
discovery platforms, innovative drug delivery systems, novel
formulation approaches and treatment regimens for mental health
disorders.
Cautionary Notes and Forward-Looking
Statements
Certain statements in this press release constitute
forward-looking information. All statements other than statements
of historical fact contained in this press release, including,
without limitation, statements regarding Cybin's future, strategy,
plans, objectives, goals and targets, and any statements preceded
by, followed by or that include the words "believe", "expect",
"aim", "intend", "plan", "continue", "will", "may", "would",
"anticipate", "estimate", "forecast", "predict", "project", "seek",
"should" or similar expressions or the negative thereof, are
forward-looking statements. Forward-looking statements in this news
release include statements regarding the Company's proprietary drug
discovery platforms, innovative drug delivery systems, novel
formulation approaches and treatment regimens to potentially treat
psychiatric disorders.
These forward-looking statements are based on reasonable
assumptions and estimates of management of the Company at the time
such statements were made. Actual future results may differ
materially as forward-looking statements involve known and unknown
risks, uncertainties, and other factors which may cause the actual
results, performance, or achievements of the Company to materially
differ from any future results, performance, or achievements
expressed or implied by such forward-looking statements. Such
factors, among other things, include: implications of the COVID-19
pandemic on the Company's operations; fluctuations in general
macroeconomic conditions; fluctuations in securities markets;
expectations regarding the size of the psychedelics market; the
ability of the Company to successfully achieve its business
objectives; plans for growth; political, social and environmental
uncertainties; employee relations; the presence of laws and
regulations that may impose restrictions in the markets where the
Company operates; and the risk factors set out in the Company's
management's discussion and analysis for the period ended September
30, 2021 and the Company's listing statement dated November 9,
2020, which are available under the Company's profile on
www.sedar.com and with the U.S. Securities and Exchange Commission
on EDGAR at www.sec.gov. Although the forward-looking statements
contained in this news release are based upon what management of
the Company believes, or believed at the time, to be reasonable
assumptions, the Company cannot assure shareholders that actual
results will be consistent with such forward-looking statements, as
there may be other factors that cause results not to be as
anticipated, estimated or intended. Readers should not place undue
reliance on the forward-looking statements and information
contained in this news release. The Company assumes no obligation
to update the forward-looking statements of beliefs, opinions,
projections, or other factors, should they change, except as
required by law.
Cybin makes no medical, treatment or health benefit claims about
Cybin's proposed products. The U.S. Food and Drug Administration,
Health Canada or other similar regulatory authorities have not
evaluated claims regarding psilocybin, psychedelic tryptamine,
tryptamine derivatives or other psychedelic compounds. The efficacy
of such products has not been confirmed by approved research. There
is no assurance that the use of psilocybin, psychedelic tryptamine,
tryptamine derivatives or other psychedelic compounds can diagnose,
treat, cure or prevent any disease or condition. Rigorous
scientific research and clinical trials are needed. Cybin has not
conducted clinical trials for the use of its proposed products. Any
references to quality, consistency, efficacy and safety of
potential products do not imply that Cybin verified such in
clinical trials or that Cybin will complete such trials. If Cybin
cannot obtain the approvals or research necessary to commercialize
its business, it may have a material adverse effect on Cybin's
performance and operations.
Neither the Neo Exchange Inc. nor the NYSE American LLC stock
exchange have approved or disapproved the contents of this news
release and are not responsible for the adequacy and accuracy of
the contents herein.
Contacts
Investor & Media:
Leah Gibson
Vice President, Investor Relations
Cybin Inc.
leah@cybin.com
Cybin (AMEX:CYBN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Cybin (AMEX:CYBN)
Historical Stock Chart
From Sep 2023 to Sep 2024