- More than 60% of American who suffer from mental health conditions want access to psychedelic options
- Growing number of cities, states looking at decriminalizing use of psychedelic medicine
- Cybin is working with world-class partners, internationally recognized scientists to create safe, effective therapeutics in the mental-health space
The awareness of psychedelics and the potential for treating an array of mental health diseases is growing, as evidenced by a recent survey reporting that 65% of affected Americans want access to psychedelics for potential treatment (https://ibn.fm/jIV2K). Those are numbers that Cybin (NEO: CYBN) (NYSE American: CYBN), a leading ethical biopharmaceutical company, is paying close attention to.
“Respondents who self-reported that they suffer from a mental health condition say that psychedelic medicine, including ketamine, psilocybin mushrooms, and MDMA, should be made available to patients with treatment-resistant anxiety, depression, or PTSD,” a recent “Forbes” article reported. The article noted that the pandemic has skyrocketed the need for psychedelic wellness, with society reaching a “tipping point where the data and science regarding psychedelic therapies have become undeniable in treating a variety of serious conditions.”
The article went on to explain that ketamine is legal in the United States for medical use; the substance is an FDA-approved anesthetic that can be prescribed for a myriad of ailments in a regulated setting by licensed clinicians.
“Psilocybin, like cannabis, is still considered a Schedule 1 drug in the eyes of the federal government,” the article continued. “Therefore, its sale and use are illegal, despite some states and cities that have begun to decriminalize mushrooms. Beginning in 2019, psilocybin has been decriminalized in Denver, Oregon, and Santa Cruz. The state of California even has a measure on the 2022 ballot that would decriminalize psychedelic medicine in the state.”
Clearly the tide is changing as popular opinion is swinging in favor of the powerful potential of psychedelics. A pioneer in the space, Cybin saw the writing on the wall long ago and has been actively working to establish itself as a leader in the psychedelic arena. Currently the company has three active drug programs targeting major depressive disorder, alcohol use disorder, anxiety disorders and neuroinflammation, as well as 50 novel compounds developed with more than 10 patent filings across three patent families (https://ibn.fm/VKH0T). In terms of investor interest, Cybin has raised $120 million to date to support its clinical trials and M&A strategy.
In addition, the company is working with a network of world-class partners and internationally recognized scientists 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 the United States, the 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.
For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://ibn.fm/CYBN
About PsychedelicNewsWire
PsychedelicNewsWire (PNW) is a specialized content distribution company that (1) aggregates and distributes news and information on the latest developments in all aspects and advances of psychedelics and their use, (2) creates PsychedelicNewsBreaks designed to quickly update investors on important industry news, (3) leverages a team of expert editors to enhance press releases for maximum impact, (4) assists companies with the management and optimization of social media across a range of platforms, and (5) delivers unparalleled corporate communication solutions. PNW stays abreast of the latest information and has established a reputation as the go to source for coverage of psychedelics, therapeutics and emerging market opportunities. Our team of seasoned journalists has a proven track record of helping both public and private companies gain traction with a wide audience of investors, consumers, media outlets and the general public by leveraging our expansive dissemination network of more than 5,000 key syndication outlets. PNW is committed to delivering improved visibility and brand recognition to companies operating in the emerging markets of psychedelics.
To receive instant SMS alerts, text “Groovy” to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.PsychedelicNewsWire.com
Please see full terms of use and disclaimers on the PsychedelicNewsWire website applicable to all content provided by PNW, wherever published or re-published: https://www.PsychedelicNewsWire.com/Disclaimer
Do you have questions or are you interested in working with PNW? Ask our Editor
PsychedelicNewsWire (PNW)
San Francisco, California
www.PsychedelicNewsWire.com
415.949.5050 Office
Editor@PsychedelicWire.com
PsychedelicNewsWire is part of the InvestorBrandNetwork.