- -Cybin announces appointment of established pharma industry figure as new CEO
- -Drysdale leverages 30 years of leadership, entrepreneurial experience in life-science space
- -Announcement comes as Cybin sets out on path to profitability
Cybin Corp., an innovative life science company developing mushroom-derived psychedelic pharmaceuticals and nonpsychedelic nutraceutical products, has announced the appointment of Mr. Doug Drysdale as the company’s Chief Executive Officer. With more than three decades of experience, the new leader recognizes psychedelics as a major breakthrough in treating mental health conditions. Drysdale joins Cybin to pave the road for the company’s rapid growth, underpinned by the recent strong push for research and commercialization in the psychedelics sector.
“With his myriad business accomplishments, Doug is the ideal leader for Cybin,” said Cybin co-founder and Chief Operating Officer Paul Glavine. “We believe that his extensive health-care sector background and international company management skills will help Cybin strengthen partnerships, develop strategic alliances and expand our international presence. We believe his strong leadership experience will help focus Cybin during its initial path to profitability.”
With more than 30 years of successful entrepreneurial experience, Drysdale has led hundreds of business development transactions and executed 15 M&A deals in the international environment life-science sector. Drysdale’s unique skill set reflects both his executive and entrepreneurial experience honed as he led the turnaround of Norwich Pharmaceuticals, becoming the founding CEO of parent company Alvogen. In that role, he helped the company grow from inception to $450 million in five years with revenues generated across 35 countries and a product development pipeline of over 50 products for the U.S. market.
As a well-known figure in the pharma space, Drysdale was recognized by “Pharmaceutical Executive” magazine as a 2011 Emerging Leader and received the 2012 Ernst & Young Entrepreneur of the Year Award. He was also named the 2011 International Business Award Distinguished Honoree for Executive of the Year (Pharmaceuticals).
Drysdale holds a bachelor’s degree in microbial and molecular biology from the University of East Anglia in the United Kingdom. He brings to his new position a wealth of knowledge and experiences in the health-care sector. Previously, he served as director and CEO of Tedor Pharma, a contract manufacturing business featured in the 2020 Inc. 5000 list as one of the fastest-growing companies in the country. Prior to Tedor Pharma, Drysdale was chairman and CEO of Pernix Therapeutics, a life-science company that he helped grow from $80 million to an estimated $800 million, raising $465 million of capital.
Drysdale is quick to spot opportunities as they emerge. “I am beyond excited to be joining the Cybin team,” said Drysdale. “I believe Cybin’s business model and talented management team uniquely position the company to examine the efficacy of psychedelic-based therapies and delivery systems in treating mental illness and addiction disorders. I expect Cybin’s expanding development pipeline will allow Cybin to additionally explore a cost-effective and timely array of health-care alternatives. We will continue to organically grow our IP portfolio and shall be looking to add to our IP through accretive acquisitions.”
As a pioneer in pharmaceutical psychedelics, Cybin is poised to engineer the development of psilocybin-based medicine designed to potentially alleviate major depressive disorders. In the process, opening up a new path to rapid growth and sustainable profitability, seems inevitable.
For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to Cybin are available in the company’s newsroom at http://ibn.fm/Cybin
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