Cybin Inc. Secures US Patent for CY003, Raises $25M
Ticker: HELP · Form: 6-K · Filed: Apr 16, 2024 · CIK: 1833141
| Field | Detail |
|---|---|
| Company | Cybin INC. (HELP) |
| Form Type | 6-K |
| Filed Date | Apr 16, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: patent, financing, drug-development, psychedelics
TL;DR
Cybin gets US patent for CY003, a potential alcohol use disorder drug, and raises $25M.
AI Summary
On April 16, 2024, Cybin Inc. announced a new patent for its deuterated psilocybin analog, CY003, in the United States. This patent, expected to expire in 2042, covers the composition of matter for CY003, a key component in Cybin's potential treatment for alcohol use disorder. The company also announced a $25 million financing round.
Why It Matters
The patent for CY003 strengthens Cybin's intellectual property portfolio for its novel psychedelic therapies, while the financing provides capital for further development and clinical trials.
Risk Assessment
Risk Level: medium — The company is in the development stage for its pharmaceutical products, which carries inherent risks related to clinical trial success and regulatory approval.
Key Numbers
- $25M — Financing (Capital raised to fund operations and development.)
- 2042 — Patent Expiration (Indicates the duration of intellectual property protection for CY003.)
Key Players & Entities
- Cybin Inc. (company) — Registrant
- CY003 (drug_candidate) — Deuterated psilocybin analog
- United States (country) — Jurisdiction of patent grant
- 2042 (date) — Patent expiration year
- alcohol use disorder (medical_condition) — Target indication for CY003
- $25 million (dollar_amount) — Financing round amount
- Doug Drysdale (person) — CEO of Cybin Inc.
- April 16, 2024 (date) — Filing date and news release date
FAQ
What is the primary indication for CY003?
CY003 is being developed as a potential treatment for alcohol use disorder.
When does the US patent for CY003 expire?
The US patent for CY003 is expected to expire in 2042.
What type of intellectual property was granted for CY003 in the US?
A composition of matter patent was granted for CY003 in the United States.
Who signed the Form 6-K filing on behalf of Cybin Inc.?
Doug Drysdale, Chief Executive Officer, signed the Form 6-K filing.
What is the total amount of the financing round announced by Cybin?
Cybin announced a $25 million financing round.
Filing Stats: 147 words · 1 min read · ~1 pages · Grade level 10.4 · Accepted 2024-04-16 15:36:34
Filing Documents
- cybininc-form6xk04x16x2024.htm (6-K) — 11KB
- a04-16x2024cybncyb003paten.htm (EX-99.1) — 17KB
- image_0a.jpg (GRAPHIC) — 25KB
- 0001628280-24-016372.txt ( ) — 63KB
From the Filing
Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of April, 2024. Commission File Number 001-40673 Cybin Inc. (Exact Name of Registrant as Specified in Charter) 100 King Street West, Suite 5600, Toronto, Ontario, M5X 1C9 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CYBIN INC. (Registrant) Date April 16, 2024 By s Doug Drysdale Name Doug Drysdale Title Chief Executive Officer EXHIBIT INDEX 99.1 News Release dated April 16, 2024