This dynamic presentation is from our September 2020 edition of Psychedelic Capital. You can get FREE access to recordings here using discount code ‘PSYCAP’! To learn more about our amazing Psychedelic Capital sponsors, click here!

The emerging market for mushroom-derived pharmaceuticals is projected to be in the billions of dollars. Groundbreaking clinical trials have demonstrated the efficacy of psilocybin, the active ingredient in “magic mushroom”, to radically treat end-of-life anxiety and treatment-resistant depression. Various functional and edible mushrooms have also shown to improve cognition and immunity. One company projected to make a massive impact in the space is Cybin Corp, a bio-pharma company dedicated to developing mushroom-based therapeutics for mental illness and health products for maximal well-being. Here are three key takeaways from their dynamic presentation at our Fall Psychedelic Capital event. 

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Key Takeaway #1: Now Is the Time for Novel Mental Health Medicines

Perhaps one of the most memorable moments of Doug Drysdale’s talk as the CEO of Cybin Corp was his statement, 

“If there’s one good thing that’s come out of this pandemic, it’s our prioritization of health & wellness–especially mental health”. 

Currently, 1 in 5 US adults (47 million people) suffer from mental illness. That number multiplies by close to a factor of 10 when considering the global populace affected by mental illness. These important statistics explored by Doug sets the stage for the tremendous opportunity Cybin has to help these people.  

“Now is the time for psychedelics to really make a change in mental health”

Indeed, the legal landscape for psychedelics is rapidly shifting–indicating Cybin’s entry into this market couldn’t come at a better, and more necessary time. 

 

  1. 6 patients in Canada are being granted section 56 to use psilocybin mushrooms for end of life depression and anxiety
  2. FDA granted breakthrough status to 3 companies for psilocybin & MDMA studies
  3. Psychedelics are on the ballot in major US cities like Washington DC and Oregon.

 

Indeed, the need for better mental health therapies is greater than ever before. As such, Cybin is confident and eager to provide these therapies through novel, efficacious and safe mushroom based therapeutics.

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Key Takeaway #2: As Psilocybin Demand Skyrockets, Cybin is Stocked for their Studies

While psilocybin may still be a schedule I drug, there’s absolutely no shortage in its demand for pre-clinical and clinical trials. Indeed, Doug notes that the current wait time to procure psilocybin for studies is quite long. Fortunately, the team at Cybin has secured enough GMP psilocybin to complete all their projected studies. They are currently looking for processes to synthesize their own psilocybin for future commercial use. Doug also highlighted Cybin’s dedication to quality and consistency, both fundamental aspects to a successful supply chain–especially when it comes to medicine. 

While there are limitations in the psilocybin supply now, there are currently novel, large-scale synthesis efforts underway utilizing techniques involving yeast and e-coli. Because of this, Doug believes that sourcing GMP psilocybin in the future should not be an issue. 

 

Read The Psilocybin Supply Chain: An Evidence-Based Review to learn more about the skyrocketing demand for psilocybin and leading efforts to establish a steady supply.

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Key Takeaway #3: Cybin is Dedicated to Making These Treatments Accessible

While the promise of psychedelic medicine is indeed great, one concern that is commonly raised is one of accessibility. Indeed, while the incredible efficacy of drugs like psilocybin is poised to revolutionize mental healthcare, that’s only part of the equation. How easily will people be able to access them when they become available? To this point, Doug had some deep insights to share, particularly in the parallels he drew from the cannabis industry. 

Doug discussed how he personally does not foresee molecules like psilocybin jumping from schedule I into becoming recreational compounds. This primary focus on the medicalization of these compounds by seeing garner regulatory approval is key to making them universally accessible. In this way, the psychedelic movement is fundamentally different and at a much larger advantage compared to the medical cannabis movement. 

Doug states that once we start seeing these compounds cure people of their depression after only one session in clinical practice, there will be plenty of motivation for insurance companies and governments to reimburse treatments. The integration of technological advancements, Doug notes, will also help effectively scale these therapeutics–particularly in the arena of pre/post therapy sessions.

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A Look Ahead for Cybin Corp

The medicinal and functional mushroom space is already making a massive impact on capital markets–as evidenced by recent surge of Compass Pathways shares on the NASDAQ. The time for the mental health and wellness revolution is now and Cybin Corp is pioneering the charge forward with the novel mushroom-based therapeutics they are developing. As this space rapidly evolves, this is certainly one company both investors and the world at large should keep a close eye on.  

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