Cybin (NEO: CYBN) (OTCQB: CLXPF), a biotechnology company focused on progressing psychedelic therapeutics, today released financial and business highlights for its financial year ended March 31, 2021. “It has been an incredibly busy and successful year for the Cybin team, expanding both our product development capabilities and our drug development programs,” said Doug Drysdale, CEO of Cybin. “The enormous progress that we have made serves to strengthen the foundation of our organization, upon which we plan to build further in the coming 12 months as we continue our clinical research activities. I want to thank the entire Cybin team, our board of directors and our investors for supporting the important work we are doing to revolutionize the future of mental health care.”
In addition, Cybin announced that its wholly controlled subsidiary, Adelia Therapeutics Inc., has achieved certain earn-out milestones for the period commencing Jan. 1, 2021. The achievements were contemplated by the terms of a contribution agreement dated Dec. 4, 2020, among Cybin, Cybin Corp., Cybin US Holdings Inc. (the “acquiror”), a wholly controlled subsidiary of Cybin, and all of the previous shareholders of Adelia (the “Adelia shareholders”). “These positive catalysts continue to provide the necessary data required to demonstrate that Cybin’s proprietary deuterated psychedelic molecules potentially carry the same pharmacodynamic properties, safety profiles, potency and receptor targeting as their parent molecules,” said Drysdale in the press release. “While the profiles are similar to parent molecules, early research has shown that these proprietary molecules also carry certain characteristics that may lead them to potentially become commercially viable because of their improved stability, bioavailability, controlled psychedelic duration and overall enhanced chemical make-up.”
To view the full press releases, visit https://ibn.fm/RDRfW and https://ibn.fm/kurbG
About Cybin Inc.
Cybin is a leading biotechnology company focused on researching and progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches, and treatment regimens for psychiatric disorders. 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
About MissionIRNewsBreaks
MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
Editor@MissionIR.com
Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html
