Cybin Enters into Collaboration Agreement with Greenbrook TMS to Establish Mental Health Centers of Excellence
Cybin Inc. (NEO: CYBN) (OTCMKTS: CLXPF), a biotechnology company focused on progressing psychedelic therapeutics, today announced that it has entered into an exclusive research and development collaboration agreement (the “Collaboration Agreement”) with TMS NeuroHealth Centers Inc., a wholly-owned subsidiary of Greenbrook TMS Inc. (TSX:GTMS) (NASDAQ:GBNH) (“Greenbrook”). Greenbrook operates 129 outpatient mental health service centers in the United States. Pursuant to the Collaboration Agreement, Cybin and Greenbrook will work together to establish Mental Health Centers of Excellence for the purpose of facilitating research and development of innovative psychedelic compound-based therapeutics for patients suffering from depression.
Cybin and Greenbrook are both on a mission to assist individuals suffering from depression and the synergistic opportunity to combine forces was evident. Greenbrook’s affiliated physicians have treated over 17,000 patients suffering from Major Depressive Disorder and other mental health disorders in the United States, while Cybin is a leader in the research and development of novel compounds and delivery mechanisms and is building the foundation of what it believes will become the next generation of commercially viable psychedelic therapeutics for the treatment of mental health disorders, including depression.
The network of outpatient mental health service centers that Greenbrook has built over the years will provide Cybin a leading market advantage to resources and patients that can assist in accelerating clinical study programs in the US as patient access regularly becomes a hurdle in this specific process.
Pursuant to the Collaboration Agreement, both Cybin and Greenbrook will collaborate to develop one or more Centers of Excellence for the purpose of facilitating research and development of innovative psychedelic compound-based therapeutics for patients suffering from depression.
Specific projects to be pursued at the Center(s) of Excellence, will look at:
- Furthering clinical research of the psychedelic compounds in Cybin’s development pipeline;
- Developing a deeper understanding of psychedelic therapeutic delivery, including the feasibility thereof; and
- Facilitating recruitment of clinical trial participants for upcoming clinical trials.
Cybin believes that the formation of Center(s) of Excellence and the potential to leverage one of the largest outpatient mental health service center footprints in the US for future FDA approved psychedelic medicines will add near-term and long-term value to patients and stakeholders alike.
We are extremely proud and excited to be working with the world-class team at Greenbrook TMS to establish these important Centers of Excellence. This opportunity to combine our pre-clinical and clinical knowledge of psychedelic therapeutics with Greenbrook’s deep experience in patient care and delivery is unparalleled and serves as a major step toward establishing a national distribution network for future psychedelic therapies.Doug Drysdale, Cybin’s CEO
Operating through 129 company-operated treatment centers, Greenbrook is a leading provider of Transcranial Magnetic Stimulation (TMS) therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, in the United States. TMS therapy provides local electromagnetic stimulation to specific brain regions known to be directly associated with mood regulation. Greenbrook has provided more than 620,000 TMS treatments to over 17,000 patients struggling with depression.
To view the original press release in its entirety click here