Cybin (NYSE American: CYBN) (NEO: CYBN), a biopharmaceutical company focused on progressing “Psychedelics to Therapeutics(TM),” today announced that Adelia Therapeutics, a wholly controlled subsidiary of Cybin, has achieved the milestone identified as Year 1, Q2 (iv) as contemplated by the terms of a contribution agreement dated Dec. 4, 2020. The transaction agreement was among Cybin, Cybin Corp., Cybin US Holdings Inc. (the “acquiror”), a wholly-controlled subsidiary of Cybin, and all of the previous shareholders of Adelia. “We are extremely pleased with the rate and speed in which our team has been able to achieve these milestones that support our pipeline of novel psychedelic-based therapeutic candidates,” said Cybin CEO Doug Drysdale. “These advancements are important catalysts for our clinical development path as we prepare these programs for our planned clinical trials in 2022.”
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About Cybin Inc.
Cybin is a leading ethical biopharmaceutical company working with a network of world-class partners and internationally recognized scientists on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, United Kingdom and Ireland. The company is focused on progressing Psychedelics to Therapeutics(TM) by engineering proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health disorders. For more information, visit the company’s website at www.Cybin.com.
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