Psychedelics-focused biotech company Cybin Inc. (NYSE:CYBN) announced that it has formed a partnership with The Chopra Foundation, a not-for-profit founded by alternative medicine and new age author Deepak Chopra.
"The Foundation is working closely with Cybin to support education and awareness about its groundbreaking research to harness the potential of psychedelic therapies in mental health,” the organization stated in a press release.
Last week Cybin announced the granting of a US patent on CYB004, a deuterated version of DMT, which is a psychedelic compound present in an indigenous ceremonial beverage known as ayahuasca. CYB004 is part of the company’s pipeline and is expected to be tested for anxiety disorders and other mental health indications.
"The need for new and more effective treatments across the mental health spectrum is more urgent today than ever,” said Deepak Chopra, who serves as the foundation’s chairman of the board and director.
In May of 2021, The Chopra Foundation signed a letter of intent to initiate a similar partnership with MindMed (NASDAQ:MNMD), another drug development company in the psychedelics space, though no further developments were made public.
Chopra said his NGO and Cybin intend to “combine forces with the best and brightest across businesses, policymakers, mental health professionals, and others – all with the goal of building awareness, advancing scientific research, and creating a global community to ensure widespread access to well-being resources.”
Photo: Deepak Chopra at the Clinton "Health Matters" Conference in La Quinta, California, 14 January 2013 by lifescript on Wikimedia Commons.
