Cybin Uses Psychedelic Mushroom Derivative To Tackle Depression With Improved Safety

24 Nov 2021

• By Ayisha Sharma

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...