Cybin Makes Significant Progress in Mental Health Treatment Development

Cybin Inc., a clinical-stage biotech firm, has reported significant strides in the development of mental health treatments with its CYB003 and CYB004 programs for Major Depressive Disorder and Generalized Anxiety Disorder, respectively. The company has secured FDA Breakthrough Therapy Designation for CYB003, completed site selection for its Phase 3 study, and initiated a Phase 2 study for CYB004. These developments underscore Cybin's strong financial position, with C$209 million in cash and a successful U.S. $150 million private placement.