Cybin Inc., a clinical-stage breakthrough neuropsychiatry company committed to revolutionizing mental healthcare by developing new and innovative next-generation treatment options, announced a strategic partnership with Osmind, a leading service provider advancing psychiatry through technology, services, and real-world evidence to bring innovative mental health treatments to patients in need.
“Preparation for the commercialization of our clinical stage programs is a top priority, and aligning ourselves with Osmind will help us accelerate our goals,” said Doug Drysdale, Chief Executive Officer of Cybin. “Osmind’s extensive network of over 800 psychiatry clinics in the U.S., combined with our expertise, allows us to align on and prepare for the operational infrastructure needs relevant for interventional treatments. End-to-end mapping in key areas of clinic workflow and patients’ journey such as pharmacy, fulfillment, patient access and reimbursement will lay the groundwork for commercialization of our lead clinical programs: CYB003 in Phase 3 development for the adjunctive treatment of major depressive disorder, and CYB004 in a Phase 2 study for generalized anxiety disorder. We look forward to a productive collaboration that leads to meaningful progress in transforming the treatment paradigm for patients with mental health disorders.”
With 52.9 million people in the U.S., or nearly one in five Americans1, living with a mental illness, there remains a significant unmet need in addressing the mental health crisis. Many patients do not experience relief with the standard of care, highlighting a need for innovation and improved therapeutic options.
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“We are thrilled to partner with Cybin; together, we are aligning incentives across stakeholders to help patients in need,” said Jimmy Qian, President of Osmind. “By preparing real-world care settings for next-generation neuropsychiatric interventions, Osmind is reducing friction and promoting practice success for clinicians, increasing access for patients, while supporting Cybin’s market penetration and commercial launch. Osmind and Cybin share a common mission to scale cutting-edge mental health treatments to as many patients as possible. We are delighted to support Cybin’s differentiated research, development, and commercialization efforts.”
Opportunity to Address Unmet Needs in Mental Health
- Globally, it is estimated that over 300 million people suffer from major depressive disorder (MDD). The global market size for major depressive disorder was estimated at $5.15 billion in 2024 and is projected to rise to $11.09 billion by 2033.
- An estimated 21 million Americans experienced at least one major depressive episode in 2021. About two-thirds of patients with MDD do not experience relief with initial antidepressant treatment.
- It is estimated that 6.8 million people in the U.S. suffer from generalized anxiety disorder (“GAD”). Approximately 50% of patients with GAD are unresponsive to first line treatment with selective serotonin reuptake inhibitors (“SSRIs”) and serotonin-norepinephrine reuptake inhibitors (“SNRIs”).
SOURCE: Businesswire