PsyBio Therapeutics Corp. (TSXV: PSYB | OTCQB: PSYBF), an intellectual property driven biotechnology company focused upon discovery and development of new, bespoke, psycho-targeted therapeutics to potentially improve mental and neurological health, today announced the filing of four new U.S. Patent Cooperation Treaty (PCT) Patent Applications seeking to convert five provisional patent applications. This brings the total number of PCT conversion filings completed by PsyBio to ten.
“PsyBio continues its ongoing strategic efforts to strengthen its presence in biosynthetic landscape for the development of psycho-targeted therapeutic candidates, with the ultimate goal of potentially improving mental and neurological health. These filings represent the next phase of PsyBio’s intellectual property strategy, moving from provisional to formal protection for our intellectual property portfolio.”
Evan Levine, PsyBio’s Chief Executive Officer.
The four U.S. PCT Patent Applications were filed based upon five provisional patents comprising advancements concerning production methodology, host strains and processes of production that are expected to support and allow PsyBio’s novel production methodology to be patent protected. These filings demonstrate the company’s ongoing commitment to value creation while promoting scientific and methodologic advancements in the field.
“PsyBio is committed to developing and protecting intellectual property with respect to biosynthetic tryptamine and phenylethylamine production. This IP is the bedrock upon which the development of psycho-targeted molecules as novel therapeutic candidates with the goal to potentially help improve human health is built,” stated Michael Spigarelli, MD, PhD, MBA, PsyBio’s Chief Medical and Chief Scientific Officer. “Our IP strategy remains the foundation of our developmental process. These patent submissions further expand PsyBio’s intellectual property portfolio and underlie ongoing plans for growth.”
About PsyBio Therapeutics Corp
PsyBio Therapeutics is an intellectual property driven biotechnology company developing new, bespoke, psycho-targeted therapeutics to potentially improve mental and neurological health. The team has extensive experience in drug discovery based on synthetic biology and metabolic engineering as well as clinical and regulatory expertise progressing drugs through human studies and regulatory protocols. Research and development is currently ongoing for naturally occurring psychoactive tryptamines originally discovered in different varieties of hallucinogenic mushrooms, other tryptamines and phenethylamines and combinations thereof. The Company utilizes a bio-medicinal chemistry approach to therapeutic development, in which psychoactive compounds can be utilized as a template upon which to develop precursors and analogs, both naturally and non-naturally occurring.