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BIOXYNE (ASX:BXN) AND CY BIOPHARMA FORGE STRATEGIC ALLIANCE TO DEVELOP NEW PSILOCYBIN THERAPIES IN AUSTRASIA

Bioxyne Limited (ASX Code: BXN) 2 mins read

Highlights

• BLS is dedicated to developing commercially available psychedelic treatment options for patients with treatment-resistant depression and post-traumatic stress disorder in Australia, as well as commercial manufacturing for clinical research around the world.

• Cy Biopharma is committed to the research & development of natural and novel 5HTx agonists; prioritising serving patients with unmet medical needs in rare diseases by unlocking the therapeutic potential of psychedelics.

• Cy Biopharma AG’s clinical development plans include both orphan and broader pain indications based on collaborations with regulators and top academic institutions like the Dana-Farber/Harvard Cancer Center to begin generating differentiating clinical data. • Cy Biopharma will exclusively supply BLS with Psilocybe cubensis fungi for Australia and New Zealand. 

Australian life sciences and pharmaceutical Company Bioxyne Limited (ASX Code: BXN) (www.bioxyne.com) (“Bioxyne” or the “Company”), parent company of Breathe Life Sciences (“BLS”) (www.bls.com.au) and Cy Biopharma AG of Switzerland (www.cybiopharma.com) is pleased to announce that the Company has entered into a commercial supply and collaboration agreement.

The opportunity is for BLS to manufacture and supply the Australian, New Zealand, US, and European clinical trials market with novel Psilocybin products; to develop proprietary formulations and drug delivery methods, and to supply to Australian patients via the authorized prescriber scheme.

Cy Biopharma will exclusively supply BLS with Psilocybe cubensis fungi for Australia and New Zealand. 

Dr. Anton Hoos, CY Biopharma’s CEO commented, “There is a huge unmet medical need that 5HTx agonists may serve. Following the Australian government’s pioneering decision to allow select experts to prescribe psilocybin, Cy Biopharma is pleased to enter into this partnership with BLS. Together we plan to build a reliable supply of pharmaceutical grade, naturally derived psilocybin for patients in Australia and New Zealand.”

In the coming 90 days BLS expects to manufacture the first Australian-made GMP Psilocybin capsules in Australia for commercial supply to approved clinical trials and patients, via the Authorized Prescriber Channel.

In this period BLS also expects to supply its first psilocybin products to research organisations in Australia and New Zealand. 

Sam Watson, CEO of Bioxyne commented, “Psychedelics are showing significant potential in the treatment of various mental health conditions; a beacon of hope for the large cohort of patients who do not respond to conventional treatment options. In Australia, 10.4% of people report experiencing symptoms of depression, and 33% of patients diagnosed with depression respond inadequately to current treatments within certain indications. Our goal is to help these patients get their lives back.”

In July 2023 the Therapeutic Goods Administration rescheduled Psilocybin and MDMA from Schedule 9 to Schedule 8 for the psychotherapy assisted treatment of PTSD and treatment resistant depression; while MDMA and psilocybin are not registered, the Authorized Prescriber Scheme will allow access to use by experienced psychiatrists under prescription.


About us:

Bioxyne Limited (ASX:BXN) is an Australian-headquartered international life sciences and pharmaceutical company (incorporated in 2000) with a focus on clinically effective health and wellness products, psychotropic and investigational medicines. 


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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