TORONTO–(BUSINESS WIRE)–Cybin Inc. (NEO:CYBN) (OTCQB:CLXPF) (“Cybin” or the “Company”), a biotechnology company focused on progressing psychedelic therapeutics, today announced that it has successfully demonstrated Proof of Concept for its deuterated tryptamine programs, CYB003 and CYB004, for the treatment of depression and addiction.

Multiple long-acting psychedelic treatments have been granted Breakthrough Therapy Designation by the U.S. Food and Drug Administration (“FDA”). However, these potential treatments produce psychedelic effects that can last for extended periods of time, presenting challenges to patient access and potentially to payer reimbursement. To overcome these scalability issues, Cybin is working to optimize the duration of action of its treatments through the selective deuteration of several short-acting psychedelic tryptamines.

“This Proof-of-Concept data provides strong support for progressing Cybin’s drug development candidates, CYB003 and CYB004, towards investigational new drug (“IND”) filings with the FDA,” stated Doug Drysdale, CEO of Cybin.

An evaluation of

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As the second wave of COVID-19 has struck with a devastating impact throughout the country, with cases rising continuously, there is an urgent need to ramp up the production of Covaxin and Covishield through voluntary licensing, said Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry, in a press statement.

Voluntary Licensing refers to the authorisation given by the patent holder to a third party to manufacture and sell the patented product on the basis of mutually agreed terms.

The second wave of COVID-19 pandemic is spreading faster than the first wave and affecting almost every household in India. At this critical juncture there is a need to urgently provide licensing of production of Covaxin, Covishield and Sputnik, said Aggarwal.

He stated that compulsory licensing is another way of granting a license by the Government to a third party to use the patent, however, this may not be

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