TORONTO, Canada -- July 6, 2021 -- InvestorsHub NewsWire
-- Cybin Inc. (NEO:CYBN)
(OTCQB:CLXPF)
("Cybin" or the "Company"), a
biotechnology company focused on progressing psychedelic
therapeutics, today announced that it has entered into an exclusive
research and development collaboration agreement (the
"Collaboration Agreement") with TMS NeuroHealth
Centers Inc., a wholly-owned subsidiary of Greenbrook TMS Inc.
(TSX:GTMS) (NASDAQ:GBNH) ("Greenbrook").
Greenbrook operates 129 outpatient mental health service centers in
the United States. Pursuant to the Collaboration Agreement, Cybin
and Greenbrook will work together to establish Mental Health
Centers of Excellence for the purpose of facilitating research and
development of innovative psychedelic compound-based therapeutics
for patients suffering from depression.
Cybin and Greenbrook are both on a mission to assist individuals
suffering from depression and the synergistic opportunity to
combine forces was evident. Greenbrook's affiliated physicians have
treated over 17,000 patients suffering from Major Depressive
Disorder and other mental health disorders in the United States,
while Cybin is a leader in the research and development of novel
compounds and delivery mechanisms and is building the foundation of
what it believes will become the next generation of commercially
viable psychedelic therapeutics for the treatment of mental health
disorders, including depression.
The network of outpatient mental health service centers that
Greenbrook has built over the years will provide Cybin a leading
market advantage to resources and patients that can assist in
accelerating clinical study programs in the US as patient access
regularly becomes a hurdle in this specific process.
Pursuant to the Collaboration Agreement, both Cybin and
Greenbrook will collaborate to develop one or more Centers of
Excellence for the purpose of facilitating research and development
of innovative psychedelic compound-based therapeutics for patients
suffering from depression.
Specific projects to be pursued at the Center(s) of Excellence,
will look at:
Cybin believes that the formation of Center(s) of Excellence and
the potential to leverage one of the largest outpatient mental
health service center footprints in the US for future FDA approved
psychedelic medicines will add near-term and long-term value to
patients and stakeholders alike.
Doug Drysdale, Cybin's CEO, added, "We are extremely proud and
excited to be working with the world-class team at Greenbrook TMS
to establish these important Centers of Excellence. This
opportunity to combine our pre-clinical and clinical knowledge of
psychedelic therapeutics with Greenbrook's deep experience in
patient care and delivery is unparalleled and serves as a major
step toward establishing a national distribution network for future
psychedelic therapies."
About Greenbrook
Operating through 129 company-operated treatment centers,
Greenbrook is a leading provider of Transcranial Magnetic
Stimulation (TMS) therapy, an FDA-cleared, non-invasive therapy for
the treatment of Major Depressive Disorder and other mental health
disorders, in the United States. TMS therapy provides local
electromagnetic stimulation to specific brain regions known to be
directly associated with mood regulation. Greenbrook has provided
more than 620,000 TMS treatments to over 17,000 patients struggling
with depression.
www.greenbrooktms.com
About Cybin
Cybin is a leading biotechnology company focused on progressing
psychedelic therapeutics by utilizing proprietary drug discovery
platforms, innovative drug delivery systems, novel formulation
approaches and treatment regimens for psychiatric disorders.
Cautionary Notes and Forward-Looking
Statements
Certain statements in this news release related to the Company
are forward-looking statements and are prospective in nature.
Forward-looking statements are not based on historical facts, but
rather on current expectations and projections about future events
and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. These
statements generally can be identified by the use of
forward-looking words such as "may", "should", "could", "intend",
"estimate", "plan", "anticipate", "expect", "believe" or
"continue", or the negative thereof or similar variations.
Forward-looking statements in this news release include statements
regarding enhanced liquidity, the value of additional capital
markets exposure, access to institutional and retail investors, the
Company's new strategic brand messaging campaign, and psychedelic
drug development programs to potentially treat mental health
disorders. There are numerous risks and uncertainties that could
cause actual results and Cybin's plans and objectives to differ
materially from those expressed in the forward-looking information.
Actual results and future events could differ materially from those
anticipated in such information. These and all subsequent written
and oral forward-looking information are based on estimates and
opinions of management on the dates they are made and are expressly
qualified in their entirety by this notice. Except as required by
law, the Company does not intend to update these forward-looking
statements.
Cybin makes no medical, treatment or health benefit claims about
Cybin's proposed products. The U.S. Food and Drug Administration,
Health Canada or other similar regulatory authorities have not
evaluated claims regarding psilocybin, psychedelic tryptamine,
tryptamine derivatives or other psychedelic compounds or
nutraceutical products. The efficacy of such products have not been
confirmed by approved research. There is no assurance that the use
of psilocybin, psychedelic tryptamine, tryptamine derivatives or
other psychedelic compounds or nutraceuticals can diagnose, treat,
cure or prevent any disease or condition. Vigorous scientific
research and clinical trials are needed. Cybin has not conducted
clinical trials for the use of its proposed products. Any
references to quality, consistency, efficacy and safety of
potential products do not imply that Cybin verified such in
clinical trials or that Cybin will complete such trials. If Cybin
cannot obtain the approvals or research necessary to commercialize
its business, it may have a material adverse effect on Cybin's
performance and operations.
The NEO Exchange has neither approved nor disapproved the
contents of this news release and is not responsible for the
adequacy and accuracy of the contents herein.
Contacts
Investor Contacts:
Tim Regan/Scott Eckstein
KCSA Strategic Communications
Cybin@kcsa.com
Lisa M. Wilson
In-Site Communications, Inc.
lwilson@insitecony.com
Media Contacts:
John Kanakis
Cybin Inc.
John@cybin.com
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