The filing increases the company’s licensed patent portfolio to four pending provisional patents and one pending non-provisional patent with the US Patent and Trademark Office
PsyBio Therapeutics Corp (CVE:PSYB) (OTCPINK:PSYBF) said it has filed a provisional patent application with the US Patent and Trademark Office (USPTO), titled ‘Optimized Methods for the Production of Psilocybin and its Intermediates or Side Products‘.
The filing increases the company’s licensed patent portfolio to four pending provisional patents and one pending non-provisional patent with the USPTO, PsyBio said, as it builds a platform around bacterial-based synthesis of therapeutic tryptamines, a class of hallucinogens.
“By building upon PsyBio’s platform technology, we are in a unique position to leverage the value of naturally occurring tryptamines by utilizing their innate synergy to build potentially improved therapeutics targeted across a wide range of health challenges,” PsyBio Therapeutics chief medical officer Michael Spigarelli said in a statement.
“Based on the established literature, successful preclinical results and recent technology transfer to globally acclaimed development facilities, we are preparing the first of several packages for submission to the US Food and Drug Administration (FDA) in the coming quarter in anticipation of upcoming clinical trials,” he added.
READ: PsyBio and Miami University broaden partnership agreement to advance its neuropsychiatric drug discovery platform
PsyBio noted that psychedelics have shown promise for the potential treatment of mental health disorders including post-traumatic stress disorder (PTSD), anxiety, treatment-resistant depression and addiction. However, these small biomolecules are difficult to mass-produce through chemical means or through extraction from the native organism.
The company is working to solve this problem by utilizing genetically modified bacteria. It has developed a patent-pending methodology to produce high concentrations of targeted potential therapeutics through fermentation, with the goal of developing them for potential human therapy. The company said it is tech transferring the first two of its lead compounds, psilocybin and norbaeocystin, into process development and scaled manufacturing.
“PsyBio has assembled, by hiring and collaboration, a premier team of engineers, scientists and regulatory experts dedicated to discovery, optimization and development of new therapeutics based on tryptamine inspired molecules for a myriad of health challenges,” CEO Evan Levine said.
“We continue to utilize sound scientific methodologies to discover new potential medications by resourcing our areas of expertise in metabolic engineering, chemistry, biology, and neuropsychology. The team has published and filed intellectual property on the most efficient methods to produce tryptamine compounds based on published data and continually builds on progress through targeted research and development efforts with the Jones and McMurray Labs at Miami University,” Levine added.
Content retrieved from: https://www.proactiveinvestors.com/companies/news/949273/psybio-therapeutics-files-provisional-patent-for-producing-psilocybin-with-the-us-patent-and-trademark-office-949273.html.