Cybin (NEO: CYBN), a life sciences company focused on psychedelic pharmaceutical therapies, recently announced its entry into a definitive agreement to acquire 100% of the shares in Adelia Therapeutics Inc. for up to CA$20,161,575 (approximately US$15.75 million) in an all-stock transaction. The transaction is subject to the satisfaction or waiver of customary conditions, including receipt of all applicable regulatory and NEO Exchange Inc. approvals. “We are thrilled to join forces with Adelia, as we see this transaction as potentially advancing Cybin’s ability to innovate our psychedelic drug development program and diversify beyond major depressive disorder. Adelia’s focus on creating novel therapeutics, including novel delivery methods and innovative therapeutic regimens can support our goal of creating therapies that result in faster onset of action, smoother pharmacokinetic profiles, shorter treatment durations, and reduced side effects,” said Cybin CEO Doug Drysdale. “Leveraging Adelia’s expertise across multiple molecules and multiple indications could potentially allow Cybin to extend its reach and capability to address gaps across a larger domain.”
To view the full press release, visit https://ibn.fm/poDlp
About Cybin Inc.
Cybin is a life sciences company advancing psychedelic pharmaceutical treatments for various psychiatric and neurological conditions. Cybin is developing technologies and delivery systems, aiming to improve bioavailability, to potentially achieve the desired medicinal effects of psychedelics at low dosage levels. The new delivery systems are expected to be studied through clinical trials to confirm safety and efficacy. For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://ibn.fm/CYBN
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