Quick Take
- Cybin Corp. applauded the efforts of TheraPsil, a non-profit that made national news by getting the Canadian Minister of Health to approve the use of psilocybin therapy for four Canadians battling incurable cancer
- The four individuals were the first to receive this therapy under the Canadian Drugs and Substances Act
- Cybin Corp. views this as “tremendous validation for [their] sector”
TORONTO–(BUSINESS WIRE)–Cybin Corp. (“Cybin” or the “Company”), Canada’s leading-edge mushroom life sciences company, is proud to applaud the efforts of TheraPsil, a non-profit coalition that advocates for legal, Special Access Programme (SAP) access to psilocybin therapy for palliative care of Canadians.
Recently, four Canadians battling incurable cancer were approved by the federal Minister of Health, Patty Hajdu, to use psilocybin therapy in the treatment of their end-of-life distress. According to TheraPsil, these four patients mark the first publicly-known individuals to receive a legal exemption from the Canadian Drugs and Substances Act, under Section 56, to access psychedelic therapy. They are also the first known patients to legally use psilocybin since the compound became illegal in Canada in 1974.
This is a watershed moment for the patients involved who deserve the right to manage their health challenges with dignity. Everyone at Cybin applauds the efforts of TheraPsil and these brave individuals, and we thank the Minister of Health for her foresight.”
Paul Glavine – Co-founder of Cybin
Former Ontario Health Minister and Cybin advisor, Dr. Eric Hoskins, praised Minister Hajdu’s approval. “I am pleased to see this important step towards considering psilocybin as a natural compound with a growing body of experience of therapeutic uses for patients in need, rather than strictly a prohibited substance,” Hoskins said. “I joined Cybin because of their dedication to patients who need and benefit from psilocybin-assisted therapy.”
Dr. Jukka Karjalainen, Cybin’s Chief Medical Officer concurs: “This landmark recognition of the benefits of psilocybin is tremendous validation for our sector. Cybin is proud to applaud TheraPsil’s efforts, while continuing to focus on the development of a psilocybin oral film delivery system which will potentially alleviate the burden of pill consumption for seniors and patients in palliative care, who often have difficulty swallowing.”
About Cybin
Cybin is a life sciences company advancing mushroom-based psychedelic and nutraceutical products for various psychiatric and neurologic conditions. Cybin is developing technology that seeks to improve bioavailability to achieve the desired effects of psychedelics at lower dosages. Cybin is developing products with new delivery systems and intends to support clinical trials to evaluate efficacy to potentially combat major depressive disorder and addiction and improve cognitive flexibility.
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, those regarding the ability to receive all necessary approvals, the bioavailability and potential use of the oral film delivery system, the potential safety and efficacy of psilocybin administered in an orally-dissolving film, research and clinical trial programs, 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. These statements are not historical facts but instead represent only Cybin’s expectations, estimates and projections regarding future events. These statements are not guaranteeing future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. The forward-looking information and forward-looking statements included in this press release are made as of the date of this press release. The Company does not undertake an obligation to update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities law.
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