Cybin Uses Psychedelic Mushroom Derivative To Tackle Depression With Improved Safety

Emerging Company Profile: Cybin’s novel approach to psilocybin therapeutics aims for better safety, shorter duration and less variability through the process of deuteration.    

Lead Candidate CYB003 Is A Deuterated Psilocybin Analog • Source: Alamy

Fresh from a CAN$32.3m ($25.9m) public offering in July, Cybin Inc. is focused on getting its lead candidate, CYB003, into the clinic for major depressive disorder (MDD) next year. However, the firm had quite a journey in its development of psilocybin drugs, a hotly anticipated class that has piqued investor interest.

Headquartered in Toronto, Canada, Cybin kicked off with a CAN$3.5m seed funding round. It was founded in 2019 by three people who shared personal experiences with friends and family suffering mental health disorders, CEO Doug Drysdale told Scrip

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Emerging Company Profiles

Immusoft Goes For Cell Therapy Plan ‘B’

 

Emerging Company Profile: CEO Sean Ainsworth spoke with Scrip about how the company is developing B-cell therapies to treat a range of diseases, starting with MPS I.

Sanofi-Backed Resalis Brings MicroRNA To Obesity

 

Emerging Company Profile: Resalis will soon start human trials of an oligonucleotide targeting a microRNA that is overexpressed in obese mice, but much remains to be proven in humans.

Volastra Aims To Terminate Cancer Relying On Chromosomal Instability

 

Emerging Company Profile: Volastra is testing two KIF18A inhibitors in early clinical trials in ovarian cancer, backed by investors like Polaris Partners and ARCH Ventures.

Seraxis Takes Its Islet Cell Tech Into The Clinic

 

Emerging Company Profile: The Maryland-based biotech is working on a functional cure for type 1 diabetes that is similar to Vertex’s VX-880 – but with some key differences.

More from Start-Ups & SMEs

Switzerland Biopharma To Stay Strong Despite More Cash Going To US And China

 
• By 

The sector is continuing to show resilience despite financial and market challenges.

Veraxa Takes SPAC Route To Develop Bispecific ADCs and T-Cell Engagers

 

The Swiss biotech firm could go public on the NASDAQ later this year, and points to other preclinical dealmaking in the space to back its strategy.

Japan’s Ciconia Seeks Academic Candidates To Hatch In Global Market

 
• By 

Japanese incubator Ciconia has just started verifying its first drug candidate with a vision of building domestic startups with globally competitive assets.