The Company Also Welcomes Leah
Gibson as its New Vice President of Investor Relations
TORONTO, Canada -- November 4, 2021 -- InvestorsHub
NewsWire -- Cybin Inc. (NEO:CYBN)
(NYSE
American:CYBN) ("Cybin" or the
"Company"), a biopharmaceutical company focused on
progressing "Psychedelics to TherapeuticsTM", today
announced that the Company has been granted a Schedule I
manufacturing license from the U.S. Drug Enforcement Agency
("DEA"). The DEA license is a federal requirement for any
investigators who intend to study, produce, analyze or otherwise
work with Schedule I controlled substances.
The DEA license is for the Company's research lab in the Boston
area. The license will allow the Company to further become a hub
for innovation and drug discovery. Previously, the Company
conducted much of its research and development ("R&D") work
through globally licensed research organizations in the U.S.,
Canada, and the U.K., and through certain in-house capabilities.
With the DEA license, the Company will be able to vastly expand its
internal R&D capabilities to support innovative drug discovery
and delivery involving Schedule I compounds.
"We are pleased with the progression of our clinical and
regulatory efforts since the Company's formation. This new license
further positions the Company as a truly integrated
biopharmaceutical company that can continue to work towards
progressing Psychedelics to Therapeutics," said Doug Drysdale,
Cybin's Chief Executive Officer.
The Company is also pleased to announce the appointment of Leah
Gibson to the position of Vice President of Investor Relations.
Leah is a life sciences investor relations leader with more than 18
years of experience in corporate and shareholder communications,
and business strategy development. She has spearheaded multiple
strategic investor relations programs including an award-winning
and best-in-class program responsible for driving $1.1B in
institutional open-market investments over 12 months and increasing
international shareholder presence. Leah has vast experience in
working with small-cap and large-cap publicly traded biotechnology
companies, including a $60B large-cap biotechnology company focused
on creating transformative medicines for serious diseases.
As a transition with Leah Gibson becoming the new Vice President
of Investor Relations, the Company also today announced that John
Kanakis will step down from his Chief Business Officer position
which was primarily focused on the management of investor and media
relations functions. He will continue with the Company in a role to
focus on M&A and business development opportunities.
About Cybin
Cybin is a leading ethical biopharmaceutical company, working
with a network of world-class partners and
internationally-recognized scientists, on a mission 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 USA, UK 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.
Cautionary Notes and Forward-Looking
Statements
Certain statements in this press release constitute
forward-looking information. All statements other than statements
of historical fact contained in this press release, including,
without limitation, statements regarding Cybin's future, strategy,
plans, objectives, goals and targets, and any statements preceded
by, followed by or that include the words "believe", "expect",
"aim", "intend", "plan", "continue", "will", "may", "would",
"anticipate", "estimate", "forecast", "predict", "project", "seek",
"should" or similar expressions or the negative thereof, are
forward-looking statements. Forward-looking statements in this news
release include statements regarding the Company's proprietary drug
discovery platforms, innovative drug delivery systems, novel
formulation approaches and treatment regimens to potentially treat
psychiatric disorders.
These forward-looking statements are based on reasonable
assumptions and estimates of management of the Company at the time
such statements were made. Actual future results may differ
materially as forward-looking statements involve known and unknown
risks, uncertainties, and other factors which may cause the actual
results, performance, or achievements of the Company to materially
differ from any future results, performance, or achievements
expressed or implied by such forward-looking statements. Such
factors, among other things, include: implications of the COVID-19
pandemic on the Company's operations; fluctuations in general
macroeconomic conditions; fluctuations in securities markets;
expectations regarding the size of the psychedelics market; the
ability of the Company to successfully achieve its business
objectives; plans for growth; political, social and environmental
uncertainties; employee relations; the presence of laws and
regulations that may impose restrictions in the markets where the
Company operates; and the risk factors set out in the Company's
management's discussion and analysis for the period ended June 30,
2021 and the Company's listing statement dated November 9, 2020,
which are available under the Company's profile
on www.sedar.com and with the U.S. Securities
and Exchange Commission on EDGAR at www.sec.gov.
Although the forward-looking statements contained in this news
release are based upon what management of the Company believes, or
believed at the time, to be reasonable assumptions, the Company
cannot assure shareholders that actual results will be consistent
with such forward-looking statements, as there may be other factors
that cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking
statements and information contained in this news release. The
Company assumes no obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors,
should they change, except as required by law.
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 has 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.
Neither the Neo Exchange Inc. nor the NYSE American LLC
stock exchange have approved or disapproved the contents of this
news release and are not responsible for the adequacy and accuracy
of the contents herein.
Contacts
Investor & Media Contacts:
Leah Gibson
Vice President Investor Relations
Cybin Inc.
leah@cybin.com
Tim Regan/Scott Eckstein
KCSA Strategic Communications
cybin@kcsa.com
Lisa M. Wilson
In-Site Communications, Inc.
lwilson@insitecony.com
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