PsyBio Therapeutics Corp. ( TSXV: PSYB | OTCQB: PSYBF), an intellectual property driven biotechnology company focused upon discovery and development of novel, bespoke, psycho-targeted therapeutics to potentially improve mental and neurological health, today is announcing the formal acceptance by the United States Patent and Trademark Office of its latest U.S. PCT (Non-Provisional) Patent Application.
“PsyBio continues to broaden its presence in the biosynthetic landscape through the development of psycho-targeted therapeutic candidates, with the ultimate goal of potentially improving mental and neurological health. With the formal acceptance of this patent application, PsyBio continues to demonstrate its leadership in the biosynthetic development field by prioritizing intellectual property protection, which is necessary for us to achieve our business objectives and potentially enhance shareholder value for our current and future investors.”
Evan Levine, PsyBio’s Chief Executive Officer.
The accepted patent application was submitted with information comprising advancements concerning production methodology, host strains and processes of production that support PsyBio’s novel production methodology. These filings demonstrate the Company’s commitment to value creation while promoting scientific and methodologic advancements in the field.
“PsyBio remains strongly committed to protecting its hard-fought intellectual property in biosynthetic tryptamine production. This IP is the bedrock upon which the development of psycho-targeted molecules as novel therapeutic candidates is built,” stated Michael Spigarelli, MD, PhD, MBA, PsyBio’s Chief Medical Officer. “Our IP strategy fosters developmental processes and allows them to proceed as smoothly and rapidly as possible. Patent submissions and their ultimate acceptance further expands PsyBio’s intellectual property portfolio and supports 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.