Cybin Inc. (CYBN) developed a new device that delivers psychedelic medicine through inhalation.
Inhaling psychedelics could be superior to oral administration, as it could result in optimized session timing, lower doses, and greater control for healthcare providers.
The company filed an international patent application for the method and the device, which has potential to gain coverage in 153 countries.
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After partnering with Greenbrook TMS last week, an operator of 129 mental health service centers in the US, Cybin continues to make big moves. The Toronto-based company announced that it will be transferring its intellectual property assets to a new wholly-owned subsidiary in Ireland as part of its European expansion plan. The company also filed its 13th provisional patent application for a digital therapeutics platform, which will use data analytics to improve patient outcomes in pre and post psychedelic treatments.
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Cybin announced that its proprietary new chemical entity (NCE), CYB003, will target Alcohol Use Disorder in response to increased alcohol use during the pandemic. CEO Doug Drysdale is optimistic that CYB003 will provide “a durable respite from alcohol dependence and the potential to overcome this often-crippling disease”.
