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Psybio Therapeutics Corp
Symbol PSYB
Shares Issued 61,235,432
Close 2022-05-16 C$ 0.07
Market Cap C$ 4,286,480
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Psybio develops purification method for compound

2022-05-16 10:19 ET - News Release

Mr. Evan Levine reports

PSYBIO THERAPEUTICS DEVELOPS COMMERCIAL PURIFICATION PROCESS FOR SECOND GENERATION PSYCHO-TARGETED COMPOUND

Psybio Therapeutics Corp. has achieved a commercially scalable purification method for one of its second-generation compounds. This manufacturing process achievement is expected to enable the commercial-scale purification of bioreactor-produced products utilizing state-of-the-art manufacturing methodology to further expand Psybio's portfolio of compounds that can be more readily and rapidly developed than competitive methods. This purification process methodology is a necessary component for the chemistry, manufacturing and controls (CMC) section for this second-generation candidate's investigational new drug (IND) application with the U.S. Food and Drug Administration (FDA).

"Developing adequate and scalable methodology for the purification of pipeline compounds will allow Psybio to enable bench-scale technology to be adapted to modern biotechnological production efficiency. This technology is necessary to produce reliable and predictable purity, which allows more rapid development of large-scale lots of material," stated Dr. Michael Spigarelli, MD, PhD, MBA, Psybio's chief medical officer. "This is expected to facilitate effective in vitro and in vivo testing, moving towards additional clinical trials for psycho-targeted therapeutics intended to potentially improve mental and neurological health."

Psybio retains the global, exclusive and perpetual right to license a platform technology enabling rapid generation of tryptamines and related compounds through a biosynthetic process using genetically modified bacteria and has demonstrated the ability to manufacture one of its first promising therapeutic candidates at commercial scale. Commercial purification process development furthers the ability to manufacture compounds with predictable and reproducible purity.

"Psybio continues to make significant progress in the manufacturing arena, developing effective and scalable techniques to enhance the ability to produce an ever-growing number of psycho-targeted therapeutic candidates in a rapid and highly cost-efficient manner," stated Evan Levine, Psybio's chief executive officer. "The development of this type of manufacturing processes improves Psybio's capability to develop and rapidly manufacture novel therapeutic agents. Psybio remains one of the only biotechnology companies in the psychoactive therapeutic industry developing their own compounds as most of the landscape appears to rely on third party providers."

About Psybio Therapeutics Corp.

Psybio is an intellectual-property-driven biotechnology company developing new, bespoke, fully approved, 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 are currently continuing for naturally occurring psychoactive tryptamines originally discovered in different varieties of hallucinogenic mushrooms, other tryptamines and phenethylamines, and combinations thereof. The company utilizes a biomedicinal 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, specifically because they are already known to have an effect within the brain.

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