Can Psychedelics Revolutionize Mental Healthcare? | Cybin Inc
Cybin Inc (OTCMKTS:CLXPF) is taking classical psychedelic molecules like MDMA, psilocybin, and DMT and turning them into useful therapeutics for mental health disorders like depression and addiction. Psychedelic medicines are gaining traction as more people and investors believe the drugs could revolutionize mental healthcare.
The pandemic has significantly increased the number of cases of depression, addiction and substance abuse. Unfortunately, long-term studies of traditional treatments of moderate depression, such as SSRIs, have shown effects no better than placebo.
To tackle these known issues, Cybin has had the support of many blue-chip biotech investors having raised $90 million to date. The backing is available as it is clear traditional therapies are not working for lots of mental conditions. Whereas, Studies from John Hopkins show a 71% response rate for patients using psilocybin to treat major depression. That is four times the effect compared with current treatments today. Not only is the response rate higher, but many patients using the magic mushroom also reported being free of depression for over five months.
Cybin has 50 molecules in their library – all under pharmaceutical regulation. Using those molecules, the company have several programs underway:
- a phase 2 clinical study for major depression
- a late preclinical program for alcohol use disorder using novel Deuterated Tryptamines.
- more programs coming online end of this year and the beginning of next.
Not only is Cybin working in drug development, but it is also focused on the associated psychotherapy to work alongside the drug. Another study concluded that when using MDMA to treat PTSD, the positive effects doubled. It is clear a combination of molecules and the therapy has positive synergistic effects.
As Cybin is still in the drug development stage of its business, the company expects to see its first treatment hit markets around 2024-2025. This is a longer-term play, but since Cybin is using well-known molecules with studied safety and efficacy, the road to market these drugs is much shorter than a normal biotech company starting drug development from scratch.
“The goal isn’t to spend investors money on brick-and-mortar and real estate, but to partner with chains of clinics that already exist to deliver psychotherapy services around Cybin’s molecules” – Cybin CEO Doug Drysdale
Watch the full interview to learn about Cybin’s patent filings, their drug library, clinic partnerships, and how they are looking to revolutionize the mental healthcare space.