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**CYC-126** is Cyclerion's investigational, individualized **drug-device combination** for **treatment-resistant depression**. The program uses intravenous propofol and dexmedetomidine with a personalized delivery system incorporating real-time electroencephalogram feedback, algorithm-guided dosing, and clinician-operated infusion technology. Cyclerion is developing the approach to guide patients toward anesthetic-induced brain states that may recalibrate dysregulated brain-network activity associated with antidepressant effects. A Phase 2 proof-of-concept study was planned for initiation in the second half of 2026. ([cyclerion.com](https://www.cyclerion.com/))
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