PsyBio Therapeutics Corp. (TSXV: PSYB | OTCQB: PSYBF), a fully integrated and intellectual property driven biotechnology company developing novel psychoactive medicinal candidates targeting the potential treatment of mental health challenges, neurological disorders and other human health conditions, today announced that it has reported its unaudited interim financial results for the three and six month period ended June 30, 2022.

Second Quarter 2022 Financial Results

A copy of the unaudited condensed consolidated interim financial statements prepared in accordance with International Financial Reporting Standards and the corresponding management’s discussion and analysis for the three and six months ended June 30, 2022, can be found under PsyBio’s profile on SEDAR at www.sedar.com.

Intellectual Property and Clinical Development Milestones

  • The Company recently announced the filing of data to support the conversion of a previously submitted provisional patent covering the biosynthetic production of methylated tryptamine derivatives including N,N-dimethyltryptamine (“DMT“) and 5-methoxy-N,N-dimethyltryptamine (“5-MeO-DMT“) as well as other related products.
  • The Company recently announced the expansion of its patent portfolio through filing of additional international patent applications in Europe, Africa and Asia. This brings PsyBio’s total number of patent application submissions to twenty-one, making it one of the most robust portfolios in the sector.
  • The Company recently hosted its annual general and special meeting of shareholders virtually on Thursday, August 11, 2022, as further detailed in proxy materials that were distributed to shareholders. All motions put forth at the meeting were passed successfully.
  • The Company recently announced that it has initiated formal process development for commercially scalable, patent pending manufacturing technology expected to enable Good Manufacturing Practice (“GMP“) production. PsyBio’s manufacturing process utilizes state of the art bioreactor manufacturing technology to facilitate expansion of PsyBio’s portfolio of compounds. This process methodology is another necessary component for the Chemistry, Manufacturing and Controls section (“CMC“) of its therapeutic candidate portfolio Investigational New Drug (“IND“) applications with the United States Food and Drug Administration (“FDA“).

About PsyBio Therapeutics Corp.

PsyBio 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.