NetworkNewsWire
Editorial Coverage: Drug development means big money these days
as big pharma and life science companies work to discover
treatments that make a difference in the world. Investors are
showing strong interest in the drug-development industry, and savvy
companies are also making strategic M&A moves to strengthen
their positions in the growing space. Life sciences company
Cybin Inc. (NEO:
CYBN) (Cybin Profile) exemplifies what is happening. The
company, which focuses on developing psychedelic therapeutics along
with unique delivery mechanisms that target depression as well as
other psychiatric and neurological condition, just completed a
reverse takeover. Other announcements in the drug-development
space also shine a spotlight on the action taking place in this
dynamic sector. Johnson
& Johnson (NYSE: JNJ) just
completed the acquisition of Momenta Pharmaceuticals Inc. H.
Lundbeck AS ADR (OTC: HLUYY) finalized its
acquisition of Alder BioPharmaceuticals, a company committed to
transforming migraine treatment and prevention. Karuna
Therapeutics Inc. (NASDAQ: KRTX)
executed an underwritten public offering of 2,600,000 shares of its
common stock, and Sage
Therapeutics Inc. (NASDAQ: SAGE)
hosted an exclusive event to discuss its research and development
strategy as well as provide clinical progress in its key
programs.
- Company’s reverse takeover forms publicly traded company
focused on psychedelic therapeutics.
- Groundbreaking research reports that psilocybin treatment had
“more than four times greater effect” than typical antidepressant
medications.
- Multiple studies and trials create strong Cybin pipeline.
Click here to view
the custom infographic of the Cybin editorial.
An Innovative Public Company
Significant amounts of money are being invested in the
drug-development sector, and Cybin Inc. (NEO:
CYBN) could see significant benefits. The leading life sciences
company recently completed a reverse takeover, and just this month,
Cybin start trading common shares on the NEO exchange under the
symbol CYBN.
Cybin management notes that the reverse takeover of Clarmin
Explorations Inc. will result in an innovative public company
focused on psychedelic drug development, unique delivery
mechanisms, and improved novel compounds and protocols that could
offer relief to the millions that suffer from depression and other
psychiatric or neurological conditions.
“We are very pleased to have completed the Reverse Takeover and
to have received conditional approval to list CYBIN’s shares on the
NEO Exchange,” said Cybin CEO Doug Drysdale. “We anticipate it will
help us to enhance our visibility within the investment community
and broaden our investor base, with the goal of building long-term
shareholder value. It also represents an important step forward in
advancing our development plans. We believe in the application of
psychedelic therapies and look forward to advancing them and our
other product candidates.”
Previously Cybin announced the closing of a private placement
offering resulting in aggregate gross proceeds of CDN$45 million.
The company intends to use the net proceeds from this offering to
develop the company’s psychedelic therapies and nutraceutical
products, as well as for working capital and general corporate
purposes. The offering included participation from several new
investors including RA Capital Management, Janus Henderson
Investors, Kearny Venture Partners, LifeSci Venture Partners and
Bail Capital.
An Enormous Unmet Need
Depression is often a little-discussed secret, but it is
estimated that more than 17
million adults in the United States alone experienced at least
one major depressive episode last year, and one out of every
four people struggle with a diagnosable mental disorder. The
need for treatment options is clear. Cybin is committed to finding
answers to address this enormous unmet medical need. The company is
working to become the first life sciences company to bring an
effective psilocybin therapeutic drug to market targeting major
depressive disorder (MDD).
Earlier this month, an article in the journal JAMA
Psychiatry reported the remarkable findings of a study
featuring the hallucinogen psilocybin, which appears to
support Cybin’s efforts. During the study, 27 patients received two
doses of psilocybin on different days and also received more than
10 hours of psychotherapy. The group was divided into two groups,
with one group receiving treatment immediately while the second
group waited for a period of time. The research team reported that
the psilocybin treatment had an effect “more than four
times greater” than the typical antidepressant medications.
In an NPR article titled “Rigorous Study Backs a Psychedelic
Treatment for Major Depression,” Alan Davis, an author of the study
and a faculty member at both Johns Hopkins University and Ohio
State University, noted that “there was a significant reduction in
depression in the immediate-treatment group compared to those in
the waitlist. . . The effect happened within one day after the
first session and sustained at that reduced level through the
second psilocybin session all the way up to the one-month
follow-up.”
“The study is notable for its scientific rigor,” said Charles F.
Reynolds III, MD, distinguished professor emeritus of
psychiatry at the University of Pittsburgh's School of Medicine.
“It offers, I think, a good deal of promise as a feasible approach
to treating particularly chronic forms of depression." Reynolds
also observed that the emergence of treatments such as psilocybin
may signal a new era in treatments.
Game-Changing Advancements
In the JAMA article, the author stated the need for
additional research and study on all aspects psilocybin in order to
confirm the results. Those efforts are well underway at Cybin. The
company has already entered into a feasibility
agreement with IntelGenx Corp. for the development of a
sublingual film for the delivery of pharmaceutical-grade
psilocybin. The results of partnership could lead to game-changing
advancement not only for the delivery of psilocybin
therapeutics but also for treatments of other types mental
disorders.
“Compared to oral psilocybin capsules, which are subject to
variable intestinal absorption and high first-pass metabolism in
the liver, the systemic bioavailability of [sublingual] psilocybin
film is expected to be quite high,” said Cybin chief medical
officer, Jukka Karjalainen MD. “Additionally, the dose of
psilocybin administered by a [sublingual] film is expected to be a
fraction of the requirement in oral capsules. These features have
the potential to increase both the safety and efficacy of
psilocybin when administered in this manner.”
The agreement with IntelGenx is one of the several clinical trials and
studies in the company’s rapidly growing pipeline. Other trials
and studies include the following:
- A phase 2a and phase 2b clinical trial to fast track drug
approval targeting Major Depressive Disorder (MDD).
- A clinical safety and efficacy study targeting microdosing that
may lead to a clinical trial for anxiety, ADHD and overall
cognitive flexibility
- A phase 2 clinical trial targeting addition through the
delivery of psilocybin through a sublingual film, with further
studies leveraging a transdermal, “slow-dose” delivery
mechanism.
An innovator with expertise in one of the most promising options
for mental disorders, Cybin appears to be moving forward quickly in
the research and development space.
The Pursuit of Treatments
Other companies are joining Cybin in the pursuit of more
effective treatments to provide help to those suffering from all
types of illnesses and disorders. In doing so, these companies are
making strategic moves to increase their funding and strengthen
their portfolios.
Johnson
& Johnson’s (NYSE:
JNJ) acquisition of
Momenta Pharmaceuticals Inc. broadens the
leadership of Janssen Pharmaceutical Companies in the autoimmune
diseases space. The move also provides a major catalyst for
sustained growth. "We're delighted to welcome Momenta's talented
team to the Janssen Pharmaceutical Companies of Johnson &
Johnson and to begin our work together to further advance patient
care in autoantibody-driven diseases," said Jennifer Taubert,
executive vice president and worldwide chairman of pharmaceuticals
for Johnson & Johnson. "We anticipate multiple launches, many
of which would be first-in-class indications in rare diseases and
areas of significant unmet need."
In a move designed to enhance its brain-disease therapy options,
H.
Lundbeck AS ADR (OTC: HLUYY) acquired Alder
BioPharmaceuticals. Alder brings eptinezumab to
the table. Eptinezumab is an investigational monoclonal
antibody (mAb) that is administered as a quarterly 30-minute IV
infusion. The transaction should significantly accelerate and
strengthen the build of Lundbeck’s pipeline. Alder submitted a
biologics license application (BLA) to the U.S. Food and Drug
Administration (FDA) for eptinezumab last year, and the FDA
approved Vyepti(TM) (eptinezumab-jjmr) as the first and only
intravenous preventive treatment for migraine in February of this
year.
A clinical-stage biopharmaceutical company, Karuna
Therapeutics Inc. (NASDAQ: KRTX)
late last year announced a
public offering of common stock. Karuna is committed to
developing novel therapies with the potential to transform the
lives of people with disabling and potentially fatal
neuropsychiatric disorders and pain. The company is working to
deliver more effective and better-tolerated treatments for large
and underserved patient populations. Its lead product candidate,
KarXT, is under development as an investigational treatment for
schizophrenia and dementia-related psychosis.
Sage
Therapeutics Inc. (NASDAQ: SAGE)
provided an innovative look at its
research and development strategy during its September 2020
“FutureCast: An R&D Portfolio Review.” The program also
provided an overview the company’s progress in its key
depression, neurology, and neuropsychiatry franchise programs. “The
team at Sage continues to follow the science with a fundamentally
different approach, using our strong medicinal chemistry and focus
on translational data to efficiently approach drug development,”
said Sage CEO Jeff Jonas, MD. “We continue to focus on areas
where our early clinical data suggest the potential for meaningful
patient benefit, not just incremental change.”
A focus on drug development and meeting the needs of an
underserved and suffering population looks to be a promising place
to be.
For more information about Cybin, please visit Cybin Inc.
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