A Look at PsyBio Therapeutics’ 2021 Accomplishments
PsyBio Therapeutics, Inc., a leader in the development of biosynthetic psychoactive compounds used to treat mental health disorders, has made several notable accomplishments in both corporate and financial matters this year.
PsyBio filed a patent with the U.S. Patent and Trademark Office titled Optimized Methods for the Production of Psilocybin and its Intermediates or Side Products for its portfolio of four pending provisional patents and one non-provisional patent. The company thus far has a portfolio of over 80 molecules created through its unique biosynthetic processes, using cleaner methods to distinguish it from competitors. Most recently, PsyBio completed its initial pre-Investigation New Drug (IND) application meeting with the FDA as part of its regulatory submission process. No changes were proposed to PsyBio’s existing approach, but the company will take the FDA’s guidance from the meeting going forward in better developing its parameters.
-Miami University Partnership
PsyBio secured an agreement with Miami University to continue research and development with Dr. J. Andrew Jones and Dr. Matthew McMurray. This agreement included $1.5 million in funding until May 2023 in an effort to help further PsyBio’s progress toward becoming FDA-certified. The research done through Miami University has produced two tryptamine molecules commonly found in psychoactive mushrooms and psilocybin that are known to have therapeutic potential.
-Biose Industrie Manufacturing Run
PsyBio partnered with Biose Industrie, a France-based manufacturing organization specializing in biopharmaceutical products, to pilot the launch of its aforementioned portfolio of compounds. Biose has more than 60 years of experience with similar products, and this development accelerated PsyBio’s efforts to possess products that are globally tested and approved.
PsyBio’s developments this year have the company well on its way to achieving its goals in gaining FDA approval and expanding globally-backed support. The company continues to prioritize collaborative research and maintains its commitment to becoming a leader in the development of biosynthetic psychoactive therapies.