PsyBio Therapeutics Corp., earlier known as Leo Acquisition Corp., now operates in the healthcare industry. The company was originally incorporated as a capital pool corporation in October 2009 under the according to the Business Corporations Act of Ontario.
However, in February 2021, the company redirected its business towards the healthcare sector after completing a reverse takeover by PsyBio Therapeutics, Inc., a United States-based biotech firm. Following the event, the company renamed itself as PsyBio Therapeutics Corp.
The Florida-headquartered company is engaged in the development of biosynthetic psychoactive compounds as a treatment to counter mental illness and neurological disorders. The psychoactive medications utilize psychotherapy-based solutions to treat mental health issues.
The intellectual property-driven biotechnology by the company targets psycho therapeutics that can possibly enhance mental and neurological health conditions. PsyBio Therapeutics Corp. is working with Oxford, Ohio-based Miami University and leveraging the proprietary platform technology to manufacture bio compounds naturally in Psilocybe Cubensis and other fungi and plants. The company expects that this technology will enable synthetic production of stabilized active compounds at a rapid pace and reasonable cost.
The manufacturing partners of the company include Curia (who offers fully integrated custom synthesis and contract services for drug development), Biose (microbiota and microbiome science-driven biotechnology firm), and Berkeley Lab (a multi-program science laboratory backed by the U.S. Department of Energy and managed by the University of California).
The company has an experienced management team with a good amount of experience in drug studies and discoveries through synthetic biology processes and metabolic engineering. The team is also well acquainted with human studies, clinical and regulatory knowledge for progressing drugs.
Currently, the company is undergoing research and development processes for naturally occurring active psychoactive compounds in hallucinogenic mushrooms, other tryptamines and phenethylamines, etc. Till now, the company has stated three primary breakthroughs to treat mental illness:
• Patent-pending bacterial biosynthesis process
• Molecular development pipeline
• Effects of certain tryptamines in a laboratory-controlled system.
PsyBio follows a bio-medical chemistry approach to develop the therapeutic solutions, where the main compounds are used as a template to analyze the natural and unnatural occurring. PsyBio Therapeutics Corp. is a publicly listed biotechnology company listed on the TSX Venture Exchange where its ordinary shares are traded under the stock quote PSYB. The company is also listed on the United States OTCQB market under the trading symbol PSYBF.